Viatris to Divest Units Seen Yielding $6 Billion in Proceeds

Viatris Inc. soared after the drugmaker announced plans to reshape the company, divesting units that it said could bring as much as $6 billion in pretax cash proceeds while acquiring two ophthalmology businesses.

The generic drugmaker plans to divest some businesses that were once considered core assets, such as over-the-counter products, women’s health care and active pharmaceutical ingredients, according to a statement. Bloomberg had reported in October that the Canonsburg, Pennsylvania-based company was considering a potential sale of its consumer-health assets.

The shares gained as much as 18% as of 3 p.m. in New York. It’s the biggest ...