May 8 (Reuters) - Drugmaker Viatris beat Wall

Street estimates for first-quarter profit and revenue on

Thursday, helped by sales of its branded drugs in China.

The company's shares, which rose over 4% in premarket

trading earlier after its pain drug and birth control patch

succeeded in late-stage studies, were up 1.4%, after Viatris ( VTRS )

reported a goodwill impairment charge of $2.9 billion.

Viatris ( VTRS ) attributed the charge to "a sharp and sustained

decline in its share price and significantly increased

uncertainty and volatility in the geopolitical and economic

environments."

When adjusted for divestitures, the company's first-quarter

revenue fell 2% to $3.25 billion, but still came ahead of

analysts' estimate of $3.24 billion, according to data compiled

by LSEG.

Sales of its generic drugs were hurt after the U.S. Food and

Drug Administration restricted imports of 11 products from its

facility in Indore, India due to violations found during an

inspection.

Revenue in its bigger branded drugs unit, under which the

company sells anti-anxiety medication Xanax and Yupelri for lung

disease, rose 3% to $2.12 billion, reflecting expansion in

emerging markets, and strong growth in Greater China and

developed markets.

The company maintained its annual revenue forecast at $13.5

billion to $14 billion, but raised its per share adjusted profit

outlook by 5 cents at the mid point, including the impact of

share repurchases.

The forecast, however, did not include "any potential impact

of future tariffs and trade restrictions as they cannot be

reasonably forecasted," the company said.

As a result of the impairment charge, Viatris ( VTRS ) swung to a

quarterly loss of $2.55 per share for the quarter ended March

31, from a profit of 9 cents a year ago.

On an adjusted basis, it reported a profit of 50 cents per

share, compared with estimates of 49 cents.

Pittsburgh-based Viatris ( VTRS ) was formed by the merger of Mylan

and Pfizer's ( PFE ) Upjohn business in 2020.