XML 38 R28.htm IDEA: XBRL DOCUMENT

Revenue Recognition and Accounts Receivable (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

The following table presents the Company’s net sales by product category for each of our reportable segments for the three and six months ended June 30, 2024 and 2023, respectively:


(In millions)	Three Months Ended June 30, 2024
Product Category	Developed Markets		Greater China		JANZ		Emerging Markets		Total
Brands	$	1,233.8	$	535.7	$	198.4	$	395.2	$	2,363.1

Generics	1,085.4		3.3		151.2		182.9		1,422.8
Total Viatris	$	2,319.2	$	539.0	$	349.6	$	578.1	$	3,785.9


(In millions)	Six Months Ended June 30, 2024
Product Category	Developed Markets		Greater China		JANZ		Emerging Markets		Total
Brands	$	2,412.6	$	1,077.5	$	382.5	$	799.6	$	4,672.2

Generics	2,072.0		5.4		284.9		404.9		2,767.2
Total Viatris	$	4,484.6	$	1,082.9	$	667.4	$	1,204.5	$	7,439.4


(In millions)	Three Months Ended June 30, 2023
Product Category	Developed Markets		Greater China		JANZ		Emerging Markets		Total
Brands	$	1,300.2	$	530.5	$	207.4	$	406.6	$	2,444.7

Generics	1,053.6		1.6		168.1		241.5		1,464.8
Total Viatris	$	2,353.8	$	532.1	$	375.5	$	648.1	$	3,909.5


(In millions)	Six Months Ended June 30, 2023
Product Category	Developed Markets		Greater China		JANZ		Emerging Markets		Total
Brands	$	2,532.2	$	1,092.9	$	397.7	$	842.2	$	4,865.0

Generics	1,992.0		3.8		320.0		447.8		2,763.6
Total Viatris	$	4,524.2	$	1,096.7	$	717.7	$	1,290.0	$	7,628.6

___________

(a)Amounts for the three and six months ended June 30, 2024 include the impact of foreign currency translations and divested businesses compared to the prior year period.

(b)Complex Gx, which were previously presented as a separate line item in the prior year period, are now included within Generics. Reclassifications were made to prior periods to conform to the current period presentation.

The following table presents net sales on a consolidated basis for select key products for the three and six months ended June 30, 2024 and 2023, respectively:


	Three months ended June 30,				Six months ended June 30, 2024
(In millions)	2024		2023		2024		2023
Select Key Global Products
Lipitor ®	$	348.4	$	380.0	$	737.3	$	797.9
Norvasc ®	161.9		182.4		338.2		385.1
Lyrica ®	124.3		137.1		238.5		281.4
EpiPen® Auto-Injectors	115.5		127.5		195.7		223.3
Viagra ®	106.1		111.0		206.8		226.0
Creon ®	78.2		74.1		153.2		146.8
Celebrex ®	72.2		82.0		144.4		170.8
Effexor ®	62.7		64.8		122.1		129.4
Zoloft ®	58.9		54.5		116.9		111.0
Xalabrands	45.6		50.4		88.1		97.1

Select Key Segment Products

Dymista ®	$	55.0	$	57.7	$	103.2	$	110.9
Yupelri ®	54.5		55.0		109.7		102.0
Amitiza ®	36.9		41.5		69.9		78.1
Xanax ®	35.4		51.8		69.9		91.5

____________

(a)The Company does not disclose net sales for any products considered competitively sensitive.

(b)Products disclosed may change in future periods, including as a result of seasonality, competition or new product launches.

(c)Amounts for the three and six months ended June 30, 2024 include the impact of foreign currency translations compared to the prior year period.

(d)Refer to intellectual property matters included in Note 17 Litigation for additional information regarding Yupelri® and Amitiza®.

Variable Consideration and Accounts Receivable

The following table presents a reconciliation of gross sales to net sales by each significant category of variable consideration during the three and six months ended June 30, 2024 and 2023, respectively:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In millions)	2024		2023		2024		2023
Gross sales	$	6,383.9	$	6,519.0	$	12,558.5	$	12,792.0
Gross to net adjustments:
Chargebacks	(1,282.6)		(1,374.2)		(2,526.8)		(2,724.9)
Rebates, promotional programs and other sales allowances	(1,040.5)		(961.0)		(2,088.8)		(1,953.2)
Returns	(70.1)		(68.3)		(130.4)		(118.7)
Governmental rebate programs	(204.8)		(206.0)		(373.1)		(366.6)
Total gross to net adjustments	$	(2,598.0)	$	(2,609.5)	$	(5,119.1)	$	(5,163.4)
Net sales	$	3,785.9	$	3,909.5	$	7,439.4	$	7,628.6

Schedule of Accounts Receivable, Net

Such allowances were comprised of the following at June 30, 2024 and December 31, 2023, respectively:


(In millions)	June 30, 2024		December 31, 2023
Accounts receivable, net	$	1,552.9	$	1,483.6
Other current liabilities	994.1		996.3
Total	$	2,547.0	$	2,479.9

Accounts receivable, net was comprised of the following at June 30, 2024 and December 31, 2023, respectively:


(In millions)	June 30, 2024		December 31, 2023
Trade receivables, net	$	2,684.4	$	2,823.8
Other receivables	882.5		876.6
Accounts receivable, net	$	3,566.9	$	3,700.4