Viatris Inc.

Good morning and welcome to the VIATRIS first quarter 2026 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your touchtone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Bill Zabluski, Head of Capital Markets. Please go ahead.

Good morning, everyone. Welcome to our Q1 2026 earnings call. With us today is our CEO, Scott Smith, Interim CFO, Paul Campbell, Chief R&D Officer, Philippe Martin, and Chief Commercial Officer, Karine Lagoff. During today's call, we will be making forward-looking statements on a number of matters, including our financial guidance for 2026 and various strategic initiatives. These statements are subject to risk and uncertainties. We will also be referring to certain actual and projected non-GAAP financial measures. Please refer to today's slide presentation and our SEC filings for more information. including reconciliations of those non-GAAP measures to the most directly comparable GAAP measures. When discussing 2026 actual or reported results, we will be making certain comparisons to 2025 actual or reported results on an operational basis, which excludes the impact of foreign currency rates. When comparing our 2026 actual or reported results to our expectations, we are making comparisons to our 2026 financial guidance. With that, I'll hand the call over to our CEO, Scott Smith.

Good morning, everyone. We're pleased to report another strong quarter. We're off to an exceptional start to the year. Before I get into the results, we recently presented our plan for long-term sustainable growth, driven by three strategic imperatives, driving our base business, fueling our innovative portfolio, and modernizing for sustainable growth. What you're seeing in our results is proof that that strategy is working. In the first quarter, we delivered total revenues of $3.5 billion, up 3% from a year ago, adjusted EBITDA of $1 billion, and adjusted EPS of 59 cents per share. Our overall performance reinforces the growth trajectory of our business, and based on what we're seeing, we're confident in our outlook for the remainder of the year. Let me briefly touch on what's driving that confidence. First, on the commercial side, execution remains strong. Notably, Greater China was a significant contributor this quarter. We're seeing strong execution and our commercial investments are leading to accelerated growth. In Japan, momentum is building following the launch of Effexor for generalized anxiety disorder. We're expecting to see a return to growth at the Effexor launch and several more launches expected in the coming years in this strategically important market. Second, on the pipeline, we're continuing to make progress. We've already achieved regulatory approval for one of our six product candidates we're anticipating this year, Effexor for GAD in Japan. We remain on track for the remaining five regulatory decisions in the second half of the year, including our weekly contraceptive patch, Gwinlo, and our fast-acting MLOC scan. We're excited about these upcoming U.S. launches, which we believe will be important for patients and also accelerate our growth. We have a highly experienced and talented leadership team in place with a strong track record of successful launch execution, and we're confident we have the right people and capabilities to deliver. Our phase three programs for Slatter Grill and Snare Mod remain on track and represent important potential longer-term growth drivers. That said, our near-term focus is squarely on execution, securing approvals, launching products effectively, and building momentum. Third, capital allocation. We continue to take a disciplined approach. We intend to deploy our capital in a balanced way, returning capital to shareholders through dividends and share repurchases, and investing in the business to support sustainable growth. Business development is an important component of our strategy. We're focused on opportunities that are in market, accretive, and aligned with our capabilities to strengthen the durability of our growth profile. And finally, on the organization. We're making progress on the opportunities identified through our enterprise-wide strategic review to optimize our cost structure, improve resource allocation, and drive operational efficiency. We are on track to deliver those savings while also reinvesting in the business to support future growth. In summary, it's a great start to the year. There's strong momentum in the business, and we are well positioned for sustained revenue and earnings growth. Before I turn it over to Philippe, I want to thank Doretta Mestres for her significant contribution as CFO over the past two years. Her leadership has played an important role in helping prepare the company to enter a period of sustainable future growth. With Doretta's transition, I'm pleased to have Paul Campbell step into the role of Interim Chief Financial Officer. Paul brings deep experience, a thorough understanding of our business, and a long tenure with the company, making him ideally positioned to ensure continuity and maintain operational discipline. With that, I'll turn it over to Philippe to go through some pipeline updates.