Viatris Inc
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Health Care : Pharmaceuticals | Mid Cap Value
Company profile

Viatris Inc. is a global healthcare company. The Company has four segments: Developed Markets, Greater China, JANZ and Emerging Markets. Developed Markets segment comprises its operations primarily in North America and Europe. Greater China segment includes its operations in China, Taiwan and Hong Kong. JANZ segment reflects its operations in Japan, Australia and New Zealand. Emerging Markets segment encompasses its presence in approximately 125 countries with developing markets and emerging economies including in Asia, Africa, Eastern Europe, Latin America and the Middle East, as well as its anti-retroviral franchise. Its portfolio comprises approximately 1,400 approved molecules across a range of key therapeutic areas, including globally recognized iconic and key brands, generics, complex generics, and biosimilars. It operates approximately 40 manufacturing sites worldwide, which produces oral solid doses, injectables, complex dosage forms and active pharmaceutical ingredients.


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Big Lots chief merchandising officer terminated without cause in wake of disappointing quarterly results

10:39 am ET May 31, 2022 (MarketWatch)

Shares of Big Lots Inc. (BIG) dove 7.1% toward a 2-year low in morning trading Tuesday, after the discount home essentials retailer disclosed Chief Merchandising Officer Jack Pestello had been terminated without cause. The disclosure comes after the stock tumbled 12.1% on Friday, after the retailer reported a surprise first-quarter loss and big sales miss and provided a downbeat gross margin outlook, as sales trends "materially slowed" in April. On Tuesday, the company said in an 8-K filing with the Securities and Exchange Commission that Pestello's "separation" was effective immediately, and that two senior vice presidents, Kevin Kuehl and Derek Panfil, were named interim co-chief merchandising officers. The company said Pestello's separation would be treated as a "termination without cause" for purposes of the company's severance plan, which in 2021 would have entitled Pestello to a total payout of $2.09 million. Big Lots' stock has plunged 44.4% year to date, while the S&P 500 has dropped 13.5%.

-Tomi Kilgore


(END) Dow Jones Newswires

May 31, 2022 10:39 ET (14:39 GMT)

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