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Subsequent Events
9 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On November 7, 2022, the Company entered into a definitive agreement to acquire Oyster Point Pharma, Inc. (“Oyster Point”) for $11 per share in cash through a tender offer. In addition to the upfront cash consideration, each Oyster Point stockholder will receive one non-tradeable Contingent Value Right representing up to an additional $2 per share contingent upon Oyster Point achieving certain metrics based upon full year 2022 performance. Oyster Point is a commercial-stage biopharmaceutical company focused on the discovery, development, and commercialization of first-in-class pharmaceutical therapies to treat ophthalmic diseases. The transaction is subject to customary closing conditions, including receipt of regulatory approval and tender acceptance of more than 50% of the common shares of Oyster Point.

Also on November 7, 2022, the Company entered into a definitive agreement to acquire Famy Life Sciences Private Limited (“Famy Life Sciences”), which has a complementary portfolio of ophthalmology therapies under development. The transaction is subject to customary closing conditions, including receipt of regulatory approval.

Together, the two acquisitions have an aggregate purchase price of approximately $700-$750 million which Viatris expects to fund with cash on hand and expects to close both transactions in the first quarter of 2023.