Primary endpoints met in ulcerative colitis (UC) and Crohn's disease (CD), the most common forms of inflammatory bowel disease (IBD)Primary endpoint results in UC and CD for high dose represent the highest achieved with any TL1A monoclonal antibodySanofi and Teva plan to initiate Phase 3 development in IBD, pending regulatory discussions PARSIPPANY, N.J. and PARIS, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), and Sanof ...

Teva hosting investor call today at 8:00 a.m. ET (U.S.)Primary endpoints met in ulcerative colitis (UC) and Crohn’s disease (CD), the most common forms of inflammatory bowel disease (IBD)Primary endpoint results in UC and CD for high dose represent the highest achieved with any TL1A monoclonal antibodySanofi and Teva plan to initiate Phase 3 development in IBD, pending regulatory discussions PARSIPPANY, N.J. and PARIS, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmace ...

Core Insights - Teva Pharmaceutical Industries Ltd. has entered into an agreement with JKI Co., Ltd. for the divestment of its Teva-Takeda business venture in Japan, aligning with its Pivot to Growth strategy [1][2] - The divestment will enable Teva to concentrate on its innovative medicines in the Japanese market, enhancing its focus on bringing new products to this region [1][2] - The transaction is expected to be completed by April 1, 2025, pending standard closing conditions and regulatory approvals [3] Company Strategy - The divestment is part of Teva's broader Pivot to Growth strategy, which aims to streamline operations and focus on high-quality, innovative medicines [4] - Mark Sabag, Executive Vice President, emphasized the importance of this agreement in ensuring the delivery of affordable medicines to patients in Japan [4] Operational Details - All employees of the Teva-Takeda business venture in Japan will remain employed under the terms of the agreement, ensuring continuity in operations [3] - Teva has a global workforce of approximately 37,000 employees and operates in 58 markets, highlighting its extensive reach and commitment to health improvement [4]

AJOVY® (fremanezumab) significantly reduced monthly migraine days (MMD) and monthly headache days (MHD) versus placebo over a 12-week period in pediatric patients aged 6-17 years1Efficacy consistent with fremanezumab pivotal Phase 3 and Real-World Evidence studies in adults with no new emergent safety signals observed Full data presented as a late breaker at European Headache Congress (EHC) 4-7 December in Rotterdam, Netherlands TEL AVIV, Israel, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industr ...

Teva Pharmaceutical Industries Limited’s (TEVA) stock has declined 10% in a month despite strong third-quarter results announced earlier this month. The company beat estimates for earnings as well as sales. The company also slightly raised its earnings and sales guidance. The stock probably declined as investors were not impressed with the guidance increase. However, some analysts believe the stock’s decline after the results was an overreaction.Teva is the world’s largest generic drug company in terms of b ...

Generic and biosimilar drugs are often preferred over the brand name version due to their cheaper prices. Generics are exact duplicates of the branded counterparts, while biosimilars are "similar" and often require clinical trials. Health insurance companies, Congress, and patients love generics. It’s a growth industry in the medical sector as drug patents generally expire after 20 years after they are filed. The Trump administration is expected to streamline the U.S. Food and Drug Administration (FDA), whi ...

Teva Pharmaceutical Industries Limited Conference Call Summary Company Overview - **Company**: Teva Pharmaceutical Industries Limited (NYSE: TEVA) - **Event**: Jefferies London Healthcare Conference - **Date**: November 19, 2024 - **Participants**: Richard Francis (President & CEO), Glen Santangelo (Jefferies Analyst) Key Points Company Strategy and Growth - Teva has experienced **seven consecutive quarters of growth**, reversing a six-year decline [6][9] - The company implemented the **Pivots Growth strategy** two years ago, focusing on four pillars: growth engine delivery, step-up innovation, generics powerhouse, and capital focus [7][10] - The growth has been driven by products such as **AUSTEDO**, **UZEDY**, and **AJOVY** [10][12] Financial Performance - Teva's stock price has shown **spectacular performance** over the last 12 months [6] - AUSTEDO is projected to reach **$2.5 billion in sales by 2027**, with current forecasts indicating **$1.6 billion** for this year [13] - The generics business grew at **70% in the U.S.**, **8% in Europe**, and **14% in Emerging Markets** [16] - Innovative products like AUSTEDO and AJOVY have seen growth rates of **28%** and **21%** respectively [17][18] Market Positioning - Teva is transitioning from a **generics powerhouse** to a more **innovative branded company** [14] - The company aims to shed the perception of being solely a generics company, emphasizing its innovative capabilities [19] Pipeline and Future Products - Teva's pipeline includes promising products such as **TL1A**, **ICS/SABA**, and **Emrusolmin** for various indications [66][67] - The **TL1A** product is expected to have a full readout by the end of the year, with plans to move into Phase III next year [48][52] - **Olanzapine** is anticipated to leverage the experience gained from UZEDY's launch, enhancing market understanding and execution [38] Challenges and Opportunities - The generics business, while performing well, faces challenges from **Revlimid** headwinds in Q4 due to contract nature [70] - Teva's **biosimilars** strategy is seen as a significant growth opportunity, with launches for **Humira** and **Stelara** expected to contribute positively [71][72] - The company is focused on improving manufacturing efficiency and supply chain management to enhance performance [26] Financial Outlook - Teva aims for a **5% CAGR**, **30% operating margin**, and **80% cash conversion** by 2027, with a target of reducing net debt to **2x net debt to EBITDA** [78] - The company is optimistic about growth in 2025, driven by a strong pipeline and generics performance [76][77] Investor Sentiment - Despite a strong Q3 performance, there was some volatility in stock price, attributed to high expectations and market conditions [55][60] - Teva's management remains focused on long-term value creation rather than short-term stock fluctuations [61][62] Conclusion Teva Pharmaceutical Industries Limited is on a positive trajectory with a clear growth strategy, strong financial performance, and a robust pipeline of innovative products. The company is well-positioned to capitalize on both its generics and branded pharmaceuticals, aiming to enhance its market perception and deliver sustained value to investors.

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].