Viatris Inc. (VTRS) Q4 2022 Earnings Call Transcript
Viatris Inc. (NASDAQ:VTRS) Q4 2022 Earnings Conference Call February 27, 2023 8:30 AM ET
Company Participants
Robert Coury - Executive Chairman
Scott Smith - Incoming Chief Executive Officer
Michael Goettler - Chief Executive Officer
Rajiv Malik - President
Sanjeev Narula - Chief Financial Officer
Jeff Nau - President, Eye Care Division
Conference Call Participants
Chris Schott - JPMorgan
Glenn Santangelo - Jefferies
Balaji Prasad - Barclays
Jason Gerberry - Bank of America
Elliot Wilbur - Raymond James
Ash Verma - UBS
Gary Nachman - BMO
David Amsellem - Piper Sandler
Umer Raffat - Evercore ISI
Greg Fraser - Truist
Operator
Excuse me, everyone. Thank you for standing by. We apologize; we did experience some technical difficulties. We will now begin your conference. Please go ahead.
Good morning, everyone. Welcome to our Q4 2022 Earnings and 2023 Guidance Call. With us today is our Executive Chairman, Robert Coury; CEO, Michael Goettler; Incoming CEO, Scott Smith; President, Rajiv Malik; and CFO, Sanjeev Narula.
During today's call, we will be making forward-looking statements on a number of matters, including our financial guidance for 2023 and various strategic initiatives. These forward-looking statements are subject to risks and uncertainties that could cause future results or events to differ materially from today's projections. Please refer to today's slide presentation and our SEC filings for a full explanation of those risks and uncertainties and the limits applicable to forward-looking statements.
We will be referring to certain actual and projected non-GAAP financial measures to supplement investors' understanding and assessment of our financial performance. Reconciliations of those non-GAAP measures to the most directly comparable GAAP measures are available on our website and in the appendix of today's slide presentation. An archived copy of today's presentation and other earnings materials will be available on our website at investor.viatris.com following the conclusion of today's call.
With that, let me welcome Robert Coury.
Robert Coury
Good morning. When I spoke with you on November 7th, I shared my excitement for all that I saw ahead for Viatris as we begin to approach the end of Phase I of our strategic plan, which, as you know, has been our setup phase. And now as we prepare to enter Phase II beginning in 2024, I am pleased to report with our eighth consecutive successful quarter of execution behind us, the rebasing of our business model is well-underway. And though we are not giving guidance for 2024, I am even more confident today that we will not only generate a minimum of $2.3 billion of free cash flows, excluding transaction costs and taxes, but now also see the potential for accelerated top line growth from 2023 to 2024 as well. This is on top of the expected top-line growth you saw in this morning's press release between 2022 and 2023 after excluding the full year impact of the biosimilars business in 2022.