VTRS (Viatris Inc.) stock: $17.03, $19.56B market cap, $886.5M cash, $32.02B EV, $20.10B fully diluted market cap. Next expected readout: Oct-26. Lead program: Cenerimod (Lupus Erythematosus, Systemic), Phase 3. Data from Fully Diluted's biotech stocks database.
Pipeline assets
MR-107A-02
Phase 3 · Active Modality: 505(b)(2) reformulation
Indications- Acute pain (moderate to severe) (Phase 3)
Status note Two pivotal Phase 3 studies (post-herniorrhaphy surgery and post-bunionectomy surgery) completed.
Low-dose estrogen weekly patch
Phase 3 · Active Modality: low-dose estrogen weekly dermal patch
Target estrogen + progesterone receptors
Indications- Contraception (Stage not disclosed)
Status note Phase 3 study of contraceptive efficacy and safety (150 mcg norelgestromin / 17.5 mcg ethinyl estradiol per day) completed; NDA accepted under FDA 505(b)(2) pathway.
MR-141 (phentolamine ophthalmic solution 0.75%)
Phase 3 · Active Modality: ophthalmic solution
Target alpha-1 adrenergic receptor
Status note Second pivotal Phase 3 trial (VEGA-3) completed; supplemental NDA accepted for review by FDA February 2026.
MR-142 (phentolamine ophthalmic solution 0.75%)
Phase 3 · Active Modality: ophthalmic solution
Target alpha-1 adrenergic receptor
Indications- Significant chronic night driving impairment in keratorefractive patients (Phase 3)
Status note Pivotal Phase 3 trial (LYNX-2) completed.
Selatogrel
Phase 3 · Active Modality: small molecule (P2Y12 inhibitor)
Target P2Y12 receptor
Partnerships Idorsia: development programs acquired ($350M upfront; development/regulatory and tiered sales milestones plus royalties)
Indications- Acute coronary syndrome (self-administered pre-hospital treatment) (Phase 3)
Status note Phase 3 development; patient enrollment on track.
Cenerimod
Phase 3 · Active Modality: small molecule (S1P receptor modulator)
Target S1P1 receptor
Partnerships Idorsia: development programs acquired ($350M upfront; development/regulatory and tiered sales milestones plus royalties)
Indications- Multiple sclerosis (Phase 3)
Status note Phase 3 development; patient enrollment on track.
Sotagliflozin
Approved · Active Modality: small molecule (dual SGLT1/SGLT2 inhibitor)
Aliases Inpefa
Target SGLT1/SGLT2
Partnerships Sotagliflozin rights acquired for all markets outside US and Europe (October 2024)
Indications- Heart failure / type 2 diabetes (sotagliflozin indications vary by market) (Stage not disclosed)
Status note First approval received in the United Arab Emirates and launched early 2026; regulatory submissions filed in Saudi Arabia, Canada, Australia, and New Zealand.
Pitolisant
Phase 3 · Active Modality: small molecule
Target histamine H3 receptor
Partnerships Aculys Pharma: acquired October 2025; exclusive development/commercialization rights in Japan
Indications- Narcolepsy (excessive daytime sleepiness / cataplexy) (Stage not disclosed)
- Obstructive sleep apnea (excessive daytime sleepiness) (Stage not disclosed)
Status note Japanese NDAs for both indications submitted and under review by PMDA.
Spydia
Approved · Active Modality: nasal spray
Aliases Spydia Nasal Spray
Partnerships Aculys Pharma: exclusive rights in Japan and certain Asia-Pacific markets
Indications- Status epilepticus (Stage not disclosed)
Status note Approved in Japan June 2025; launched December 2025.
GA Depot (glatiramer acetate depot)
Stage not disclosed · Terminated
Partnerships Mapi Pharma: license/commercialization agreement and December 2023 letter agreement terminated by mutual agreement April 2026 (FDA issued a Complete Response Letter for GA Depot 40 mg NDA in 2024)
Indications- Multiple sclerosis (Stage not disclosed)
Status note License and commercialization agreement and December 2023 letter agreement with Mapi terminated April 2026.
Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.