Viatris Inc. (VTRS) stock is soaring 5.23% in pre-market trading on Thursday following a series of positive announcements that have boosted investor confidence in the pharmaceutical company's future prospects.

The company reported two significant developments in its drug pipeline. Viatris announced positive top-line results from two pivotal Phase 3 studies of its novel fast-acting meloxicam (MR-107A-02) for the treatment of moderate-to-severe acute pain. All primary and secondary endpoints were met in both studies, and the company is targeting a New Drug Application submission to the U.S. FDA by the end of 2025. Additionally, Viatris revealed positive results from a Phase 3 study of its investigational Xulane Lo™ low dose patch for birth control, with plans to submit an NDA in the second half of 2025.

Further fueling the stock's rise, Viatris reported better-than-expected first-quarter 2025 financial results. The company posted adjusted earnings of $0.50 per share, surpassing analysts' estimates of $0.49. Revenue for the quarter came in at $3.25 billion, slightly above the expected $3.24 billion. Despite a non-cash goodwill impairment charge of $2.9 billion, Viatris maintained its 2025 revenue forecast of $13.5 billion to $14 billion and raised its adjusted EPS guidance. The strong performance in branded drugs, particularly in emerging markets and Greater China, helped offset challenges in the generic drug segment.