Why Viatris Stock Dropped 24% in February

Shares of Viatris (NASDAQ: VTRS) fell 24.4% in February, according to data provided by S&P Global Market Intelligence. The stock has since fallen even further.

The healthcare stock's big drop on Feb. 28 came after the company announced in its fourth-quarter earnings report that it was selling its biosimilars portfolio to Biocon Biologics, a privately held company in India, for up to $3.335 billion. Investors didn't like the move because it took out a potential driver of income. The company said it made the move to focus on some of its early-stage therapies.

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Source Fool.com