Shares of Viatris (NASDAQ: VTRS) were jumping 16.2% higher as of 11:56 a.m. ET on Monday. The big gain came after the company announced its third-quarter results and revealed plans for two acquisitions.

Viatris reported Q3 revenue of $4.08 billion. This result was down 10% year over year and came in lower than the Wall Street consensus estimate of $4.14 billion.

The drugmaker delivered Q3 earnings of $354.3 million, or $0.29 per share, based on generally accepted accounting principles (GAAP), up from $311.5 million, or $0.26 per share, in the prior-year period. Viatris recorded adjusted net earnings of $1.06 billion, or $0.87 per share. The average analysts' estimate was for adjusted earnings of $0.84 per share.

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Source Fool.com