Viatris Gets Shareholders’ Biosimilars Class Action Thrown Out

Investors in Viatris Inc. can no longer proceed with a proposed class action alleging that the global health-care company made misstatements or omissions about its biosimilar drugs and finances, in part because the challenged statements were accompanied by words of caution, a federal district court said.

Lead plaintiff Jason Taylor alleged May 12 that Viatris and two of its officers and directors violated the Securities Exchange Act. But the plaintiffs failed to plead that alleged misstatements were actionable under the Private Securities Litigation Reform Act’s Safe Harbor provision, Judge Marilyn J. Horan of the US District Court for the Western ...