Viatris Inc.

Good morning, everyone, and welcome to the Theatris Q2 2026 earnings call. All participants will be in a 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 and then one on your touchtone phones. To withdraw your questions, you may press star and two. Please also note today's event is being recorded. At this time, I'd like to turn the floor over to Bill Szablewski, Head of Capital Markets. Sir, please go ahead.

Good morning, everyone. Welcome to our Q2 2026 earnings call. With us today is CEO Scott Smith, Interim CFO Paul Campbell, Chief R&D Officer Philippe Martin, and Chief Commercial Officer Corinne Le Goff. During today's call, We will be making forelooking 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 most directly comparable GAAP measures. Good morning, everyone.

were off to an exceptional start in 2026. We delivered another strong quarter that reinforces our confidence in the strategy we outlined earlier this year. In the second quarter, we delivered $3.8 billion in total revenues, representing 3.5% operational revenue growth year over year, adjusted EBITDA of $1.2 billion, and adjusted EPS of 69 cents per share. These results exceeded our expectations and reflect the strong momentum across our businesses, and continued improvement in operating leverage. Just as importantly, these results give us confidence to raise our outlook for the remainder of the year. Let me briefly highlight some of the progress we've made across our businesses. Commercial execution was excellent across our global portfolio during the quarter, led once again by greater China, where the commercial investments and our portfolio of established brands are generating meaningful growth. In North America, execution across our complex generics and transdermal products also drove solid growth. Our pipeline is progressing as expected. As we announced last week, we received U.S. regulatory approval from Wendland and expect to launch the product later this year. At the same time, launch preparations continue for fast-acting Molluscamp as it progresses through FDA review. We're confident in the differentiated clinical profiles of both medicines and also in our commercial readiness. In Japan, we recently reported Phase 3 results for NEFCON, while Potola Center continues to progress through the final stages of regulatory review, underscoring the momentum we're building across our pipeline in this strategically important market. Beyond these opportunities, our Phase 3 programs for Shalada Grove and Sonarama remain on track with an important readout as expected in 2027, which, if successful, we believe will represent meaningful long-term, blockbuster growth opportunities. Taking together these milestones provide a robust set of near-term catalysts with the potential to accelerate our long-term growth profile. As we prepare for our next phase of growth, we're prioritizing our capital, talent, and resources toward the opportunities we believe offer the greatest long-term growth potential. As part of that effort, we agreed to sell the global race to survive, reflecting a strategic shift away from eye care as a therapeutic area of focus. Turning to our enterprise-wide strategic review, we're delivering the savings we committed to earlier this year while reinvesting a portion of those savings to support future growth. We're beginning to see those actions translate into the real operating leverage we expected. That's creating a stronger B interest with greater flexibility to invest in growth and create long-term value. Turning to capital allocation, we continue to take a balanced and opportunistic approach. Supported by strong cash generations, and the additional financial flexibility created through the monetization of our Biocon equity stake. We're executing across all our capital allocation priorities. We continue to return significant capital to shareholders through our dividend and more recently through our continued share repurchases together, totaling approximately $550 million to date. At the same time, we're maintaining flexibility to pursue disciplined business development opportunities that we believe and play a significant role in accelerating our long-term growth. As we think about our performance so far this year and the outlook for the rest of the year, we're raising the midpoint of our 2026 financial guidance ranges across all key financial metrics. Our updated outlook incorporates all the business dynamics we expect in the second half, including certain intermittent manufacturing disruptions in our national facility following the Q1 fire and the FDA's May 2026 inspections. We are communicating with the FDA, working closely with external experts, and have initiated a comprehensive remediation plan to address the inspection observations. In summary, I'm very pleased with our execution through the first half of the year and the momentum we're carrying into the second half. We're entering a catalyst-rich period with multiple upcoming launches, important Phase III milestones, and the financial flexibility to pursue disciplined, accretive business development. Together, we believe these opportunities position BHRS to accelerate long-term growth and create meaningful value for shareholders. With that, I'll turn it over to Philippe.