Viatris Seeks New Offers for OTC Arm as Initial Bids Disappoint

Viatris Inc. has called for fresh bids for its European consumer-health assets after initial offers came in below its expectations, people familiar with the matter said.

The Canonsburg, Pennsylvania-based company asked suitors to resubmit their proposals, the people said, asking not to be identified as the information is private. It’s also changed the scope of the deal by excluding the business of erectile-dysfunction drug Viagra, the people said.

Viatris was originally seeking about €3 billion ($3.3 billion) from the divestment, the people said. While Viatris initially asked for offers for the whole unit, it may now also be open to ...