09:30 AM EDT, 07/03/2024 (MT Newswires) -- Viatris ( VTRS ) said Wednesday that it has divested its over-the-counter business to Cooper Consumer Health, a European over-the-counter drug producer and distributor.

Financial terms of the deal weren't disclosed.

Viatris ( VTRS ) said the transaction included two production sites in Merignac, France, and Confienza, Italy, and a research & development site in Monza, Italy.

The company said the proceeds from the divestiture will be used for stock buybacks, dividend payments, asset investments, and other purposes.

Viatris ( VTRS ) said it will maintain rights for Viagra, Dymista, and select over-the-counter products in certain markets.

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