Teva Pharmaceutical Industries Limited (NYSE:TEVA) Jefferies London Healthcare Conference November 19, 2024 3:30 AM ET Company Participants Richard Francis - President & CEO Conference Call Participants Glen Santangelo - Jefferies Glen Santangelo Good morning, everyone. Thanks for joining us. For those of you who don't know me, I'm Glen Santangelo. I'm the Spec Pharm Analyst at Jefferies, and cover Teva amongst some other things. And we're very excited to be hosting, Teva, and to my right, the CEO of the Co ...

Teva Pharmaceutical Industries (TEVA) reported third-quarter 2024 adjusted earnings of 69 cents per share, which beat the Zacks Consensus Estimate of 65 cents. Adjusted earnings rose 15% year over year.Revenues for the third quarter came in at $4.33 billion, which beat the Zacks Consensus Estimate of $4.08 billion. Total revenues rose 13% on a reported basis and 15% on a constant currency basis.Sales growth was mainly driven by higher revenues from generic products globally and strong growth from branded dr ...

Revenue Performance - Revenues in Q3 2024 were $4,332 million, a 13% increase in U.S. dollars and 15% in local currency compared to Q3 2023, driven by higher revenues from generic products across all segments [260]. - The United States segment generated revenues of $2,225 million, a 17% increase, with segment profit rising by 31% to $748 million compared to Q3 2023 [260]. - The Europe segment reported revenues of $1,265 million, a 10% increase in U.S. dollars, with segment profit also increasing by 10% [260]. - The International Markets segment generated revenues of $613 million, a 4% increase in U.S. dollars, but segment profit decreased by 7% [260]. - AUSTEDO revenues in the United States segment increased by 28% to $435 million in Q3 2024, compared to $339 million in Q3 2023, driven by volume growth and expanded patient access [274]. - UZEDY revenues in the United States segment were $35 million in Q3 2024, following its launch in May 2023 for the treatment of schizophrenia [277]. - Combined revenues for BENDEKA and TREANDA in the United States segment decreased by 28% to $40 million in Q3 2024, primarily due to competition from alternative therapies and the entry of generic products [278]. - COPAXONE revenues in the United States segment decreased by 30% to $69 million in Q3 2024, attributed to market share erosion and increased competition [283]. - Europe segment revenues in Q3 2024 were $1,265 million, a 10% increase from $1,146 million in Q3 2023 [298]. - International Markets segment revenues in Q3 2024 were $613 million, a 4% increase from $591 million in Q3 2023 [317]. Profitability and Margins - Gross profit margin improved to 49.6% in Q3 2024, up from 48.1% in Q3 2023 [260]. - Gross profit from the United States segment increased by 19% to $1,265 million in Q3 2024, compared to $1,060 million in Q3 2023 [290]. - Gross profit margin for the United States segment rose to 56.9% in Q3 2024, up from 55.9% in Q3 2023, mainly due to a favorable product mix [291]. - Gross profit from the Europe segment in Q3 2024 was $698 million, an 8% increase from $648 million in Q3 2023, with a gross profit margin of 55.2% [307]. - Gross profit from the International Markets segment in Q3 2024 was $306 million, a 4% increase from $293 million in Q3 2023, with a gross profit margin of 49.9% [323]. - Gross profit in Q3 2024 was $2,148 million, an increase of 16% compared to $1,851 million in Q3 2023 [336]. - Profit from the United States segment in Q3 2024 was $748 million, a 31% increase from $571 million in Q3 2023 [296]. - Profit from the Europe segment in Q3 2024 was $373 million, a 10% increase from $338 million in Q3 2023 [312]. - Profit from International Markets segment in Q3 2024 was $109 million, a decrease of 7% compared to $117 million in Q3 2023 [330]. Expenses and Losses - R&D expenses decreased by 5% to $240 million in Q3 2024 compared to $253 million in Q3 2023 [260]. - Operating loss was $51 million in Q3 2024, a decline from operating income of $344 million in Q3 2023 [260]. - S&M expenses for the United States segment increased by 6% to $259 million in Q3 2024, driven by promotional activities for AUSTEDO [293]. - G&A expenses for the United States segment increased by 16% to $107 million in Q3 2024, compared to $93 million in Q3 2023 [294]. - Net loss in Q3 2024 was $437 million, compared to a net income of $69 million in Q3 2023 [357]. - Diluted loss per share was $0.39 in Q3 2024, compared to diluted earnings per share of $0.06 in Q3 2023 [358]. - The company reported a goodwill impairment of $600 million for the three months ended September 30, 2024 [450]. - Operating loss was $274 million in the first nine months of 2024, an improvement from an operating loss of $323 million in the same period of 2023 [413]. Cash Flow and Debt - Free cash flow increased to $922 million in Q3 2024, up from $229 million in Q3 2023, primarily due to higher cash flow from operating activities [262]. - Cash flow generated from operating activities in Q3 2024 was $693 million, a significant increase from $5 million in Q3 2023 [440]. - Cash and cash equivalents as of September 30, 2024, were $3,319 million, an increase from $3,226 million as of December 31, 2023 [430]. - As of September 30, 2024, the company's total debt decreased to $18,980 million from $19,833 million as of December 31, 2023, primarily due to the repayment of $956 million of senior notes [433]. - The financial leverage ratio increased to 75% as of September 30, 2024, compared to 71% as of December 31, 2023 [435]. Strategic Initiatives - The company intends to divest its API business, with completion expected in the first half of 2025 [332]. - The company is committed to paying royalties to partners and owners of know-how, with royalty periods not exceeding 20 years in some cases [444]. - As of September 30, 2024, the generic products pipeline includes 125 applications awaiting FDA approval, with potential U.S. sales of approximately $119 billion for the underlying branded products [287]. Non-GAAP Financial Metrics - Non-GAAP net income attributable to Teva for the nine months ended September 30, 2024, was $2.043 billion, compared to $1.762 billion for the same period in 2023, reflecting a 15.9% increase [451]. - Non-GAAP diluted EPS for the third quarter of 2024 was $0.69, up from $0.60 in the third quarter of 2023, representing a 15% increase [451]. - The non-GAAP tax rate for the nine months ended September 30, 2024, was 15.5%, compared to 13.0% for the same period in 2023 [451]. - The GAAP diluted earnings per share attributable to Teva for the nine months ended September 30, 2024, was $(1.26), compared to $(0.91) for the same period in 2023 [451].

Teva Pharmaceutical Industries Limited (NYSE:TEVA) Q3 2024 Earnings Conference Call November 6, 2024 8:00 AM ET Company Participants Richard Francis - President & CEO Eli Kalif - CFO Eric Hughes - Head of R&D & Chief Medical Officer Ran Meir - SVP, head of IR Conference Call Participants Umer Raffat - Evercore ISI Balaji Prasad - Barclays David Amsellem - Piper Sandler Jason Gerberry - Bank of America Chris Schott - J.P. Morgan Ash Verma - UBS Yifeng Liu - HSBC Operator Hello, and welcome to the Q3 2024 Tev ...

Teva Pharmaceutical Industries Ltd. (TEVA) reported $4.33 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 12.5%. EPS of $0.69 for the same period compares to $0.60 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $4.08 billion, representing a surprise of +6.12%. The company delivered an EPS surprise of +6.15%, with the consensus EPS estimate being $0.65.While investors scrutinize revenue and earnings changes year-over-year and how ...

tewa Teva Pharmaceutical Industries Ltd. Third Quarter 2024 Results November 6, 2024 Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that ...

EXHIBIT 99.1 Teva Announces Strong Financial Results for the Third Quarter of 2024, led by Generics Performance and Innovative Portfolio Growth; Raises 2024 Financial Outlook including on Revenues, Adjusted EBITDA and Non-GAAP EPS For an accessible version of this Press Release, please visit www.tevapharm.com Q3 2024 revenues of $4.3 billion reflect an increase of 13% in U.S. dollars, or 15% in local currency terms, compared to Q3 2023. AUSTEDO – shows continued growth, U.S. revenues of $435 million in Q3 2 ...

For an accessible version of this Press Release, please visit www.tevapharm.com Q3 2024 revenues of $4.3 billion reflect an increase of 13% in U.S. dollars, or 15% in local currency terms, compared to Q3 2023.AUSTEDO® – shows continued growth, U.S. revenues of $435 million in Q3 2024, an increase of 28% compared to Q3 2023; reaffirming 2024 revenue outlook of ~$1.6 billion.AJOVY® – global revenues of $137 million in Q3 2024, an increase of 21% in local currency terms compared to Q3 2023.UZEDY® is gaining mo ...

Teva Pharmaceutical Industries Ltd. (TEVA) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked ...

IMPACT-TD Registry, the largest study evaluating holistic effects of tardive dyskinesia (TD), highlights that there is a high burden of TD on quality of life regardless of a person’s underlying mental health conditionRegistry revealed fewer patients with psychotic disorders (36%) received TD diagnoses compared to those with mood disorders (50%)Teva continues to further innovations in mental health and progress real-world data to improve treatment optimization TEL AVIV, Israel and PARSIPPANY, N.J., Nov. 01, ...