Viatris Stock Tumbles as Eyelid Inflammation Treatment Misses Target

The pharmaceutical company said its eye inflammation treatment didn’t meet its target. (Photograph by Suzanne Plunkett/Bloomberg News)

Viatris was falling Friday after the pharmaceutical company announced that its eye inflammation treatment didn’t meet its target in a late-stage trial.

Viatris’ ophthalmic ointment for patients with blepharitis, a condition causing irritation and swelling of the eyelids, failed to fully clear debris from the eyes in the six-week study, the company said.

Shares were falling 4.1% in premarket trading Friday following the announcement. The stock had declined 26% so far this year as of Thursday’s close.

“Given that the study did not meet its objective for patients suffering from blepharitis, we are evaluating the appropriate next steps for the Phase 3 program,” said Philippe Martin, Viatris’ chief research and development officer.

Write to Nate Wolf at nate.wolf@barrons.com