Why Viatris Stock Rocketed Higher in May

Shares of the generic-drug giant Viatris (NASDAQ: VTRS) -- the offshoot of Pfizer's legacy-medicines unit UpJohn and generic-specialist Mylan -- roared higher by a healthy 14.6% during the month of May, according to data provided by S&P Global Market Intelligence . The drugmaker's stock rallied last month in response to a stronger-than-expected 2021 first-quarter earnings report.

Most significantly, Viatris beat Wall Street's Q1 consensus estimate by a respectable $200 million. What's more, management also declared an inaugural quarterly dividend of $0.11 per share and reaffirmed the company's 2021 financial guidance.

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Source Fool.com