PITTSBURGH - Viatris Inc. (NASDAQ: NASDAQ:VTRS), a global healthcare company, has expanded its employee wellbeing program with the introduction of Unmind, a workplace mental health resource. This initiative is part of the company's broader Elevate program, aimed at enhancing the health and happiness of its workforce.
Unmind, renowned for its mental health solutions in the workplace, is now accessible to Viatris employees and their families. The program is designed by psychologists and offers confidential resources to support individuals in managing their mental health proactively. It provides personalized tools to help with various aspects of wellbeing, including stress management, sleep improvement, and overall happiness.
The launch of Unmind aligns with Viatris' commitment to its employees' health, purpose, and growth. The company's Chief People Officer, Andrew Enrietti, emphasized the significance of mental wellbeing and the role of the Elevate program in fostering a supportive work environment. The program's principles focus on physical and mental health, meaningful engagement with the community, and personal and professional development.
According to the World Health Organization, mental health conditions like depression and anxiety increased by over 25% during the first year of the Covid-19 pandemic. This surge underscores the need for organizations to prioritize employee wellbeing. Viatris has responded by ensuring that all global colleagues have access to mental health tools and support in 2024.
Sheila Muhl, Viatris' Head of Total Rewards and Talent, highlighted the company's unique position to back its employees' health and wellbeing through the partnership with Unmind. The program's champions network, comprising about 300 volunteer colleagues, facilitates the implementation of Unmind and promotes mental health discussions within the company.
Dr. Nick Taylor, Co-founder & CEO of Unmind, expressed enthusiasm about the partnership, reflecting a shared vision of prioritizing mental health and destigmatizing workplace conversations about the subject.
Viatris, headquartered in the U.S., operates on a global scale, providing medicines to approximately 1 billion patients annually. The company's 2022 Sustainability Report offers further insights into its culture and commitment to health at every life stage.
This expansion of Viatris' wellbeing program is based on a press release statement.
InvestingPro Insights
Viatris Inc. (NASDAQ: VTRS) has not only been proactive in promoting mental health through its partnership with Unmind but also shows a strong commitment to creating shareholder value. An InvestingPro Tip indicates that management has been aggressively buying back shares, which can often signal confidence in the company's future prospects. Additionally, the company has a high shareholder yield, which combines dividend payments and share repurchases to show the total payout to shareholders. This could be particularly attractive to investors looking for companies with a shareholder-friendly capital allocation policy.
On the financial front, real-time data from InvestingPro shows that as of the last twelve months ending Q4 2023, Viatris has a market capitalization of $13.74 billion and a Price/Earnings (P/E) ratio of 9.78 when adjusted, suggesting that the stock may be undervalued relative to earnings. The company also boasts a robust gross profit margin of 43.64%, indicating effective management of production costs and strong pricing power. Moreover, Viatris has been profitable over the last twelve months, with a basic and diluted EPS of $0.05, reinforcing the company's financial stability.
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