Sanofi and Teva’s duvakitug phase 2b maintenance data demonstrated clinically meaningful durable efficacy in ulcerative colitis and Crohn’s disease In the RELIEVE UCCD LTE phase 2b study, duvakitug showed robust, durable efficacy for an additional 44 weeks in UC and CD patients who had responded after 14 weeks of induction Duvakitug was well tolerated and safety was consistent with the induction studyFindings reinforce the potential of duvakitug which is in ongoing phase 3 programs in UC and CD Paris and Pa ...

In the RELIEVE UCCD LTE phase 2b study, duvakitug showed robust, durable efficacy for an additional 44 weeks in UC and CD patients who had responded after 14 weeks of inductionDuvakitug was well tolerated and safety was consistent with the induction studyFindings reinforce the potential of duvakitug which is in ongoing phase 3 programs in UC and CD Teva will hold an investor call and live webcast today, Tuesday, February 17, 2026, at 8:00 a.m. ET to discuss these data. PARSIPPANY, N.J. and PARIS, Feb. 17, 2 ...

In the RELIEVE UCCD LTE phase 2b study, duvakitug showed robust, durable efficacy for an additional 44 weeks in UC and CD patients who had responded after 14 weeks of inductionDuvakitug was well tolerated and safety was consistent with the induction studyFindings reinforce the potential of duvakitug which is in ongoing phase 3 programs in UC and CD Teva will hold an investor call and live webcast today, Tuesday, February 17, 2026, at 8:00 a.m. ET to discuss these data. PARSIPPANY, N.J. and PARIS, Feb. 17, 2 ...

Market Overview - The Uterine Fibroid Market was valued at USD 5.26 Billion in 2025 and is projected to reach USD 9.43 Billion by 2033, growing at a CAGR of 7.63% from 2026 to 2033 [1][8]. Growth Drivers - The market is expanding due to the increased incidence of uterine fibroids among women of childbearing age, with approximately 70 to 80% of women experiencing fibroids by age 50 [2]. - Rising healthcare infrastructure in emerging markets and increased awareness regarding fibroid treatment options are also contributing to market growth [5]. Treatment Trends - There is a significant trend towards minimally invasive techniques for treating uterine fibroids, with adoption rates rising by over 60% in the past five years [4]. - Minimally invasive procedures are expected to grow at the fastest CAGR of 8.63% from 2026 to 2033, driven by advancements in technology and patient preference for less invasive options [11]. Market Segmentation - By Type: Submucosal Fibroids dominated with 36.24% in 2025, while Intramural Fibroids are expected to grow at the fastest CAGR of 8.20% from 2026 to 2033 [9][10]. - By Treatment Type: Surgical Procedures held 38.45% in 2025, with Minimally Invasive Procedures projected to grow at 8.63% CAGR [11]. - By Technology: Laparoscopic Surgery accounted for 36.58% in 2025, with MRI-Guided Focused Ultrasound expected to grow at 8.83% CAGR [12]. - By End-User: Hospitals & Clinics dominated with 47.49% in 2025, while Ambulatory Surgical Centers are expected to grow at 8.43% CAGR [13]. Regional Insights - The U.S. Uterine Fibroid Market was valued at USD 1.78 Billion in 2025 and is projected to reach USD 3.11 Billion by 2033, growing at a CAGR of 7.25% [14]. - North America is expected to hold a 45.32% market share in 2025, while Asia Pacific is anticipated to grow at the fastest CAGR from 2026 to 2033 [15]. Recent Developments - In January 2024, Pfizer Canada announced the availability of MYFEMBREE® for treating uterine fibroids and endometriosis [17]. - In September 2024, Theramex announced the first commercial sale of Yselty® in Germany, marking a new treatment option for women with moderate to severe symptoms of uterine fibroids [17].

Teva Pharmaceutical Industries Conference Summary Company Overview - **Company**: Teva Pharmaceutical Industries (NYSE: TEVA) - **Date of Conference**: February 13, 2026 - **Key Speaker**: Dr. Eric Hughes, Chief Medical Officer Core Industry Focus - **Industry**: Pharmaceutical, specifically in immunology and drug development Key Points and Arguments Immunology R&D Efforts - Teva is focusing on validated molecular targets in its immunology R&D, including TSLP/IL-13-directed treatments [1][2][3] - The company has a strong antibody and protein engineering group, enhancing its capabilities in developing biosimilars and innovative drugs [4][5] Targeted Approaches - The company is exploring various combinations of molecular targets to increase the probability of success in drug development [5][6] - Teva is agnostic regarding the source of innovation, whether internal or through business development and collaborations [8][10] IL-15-Directed Antibody (408) - Teva is accelerating its IL-15-directed antibody program, targeting vitiligo and celiac disease with timelines set for 2031 and 2034, respectively [12][13] - The company has secured up to $500 million in R&D funding from Royalty Pharma for the vitiligo program, emphasizing the high costs associated with drug development [19][21] Clinical Development Insights - The phase IIb study for vitiligo will require a safety database of approximately 1,400 patients for FDA approval [22] - The company aims to differentiate its IL-15 treatment from existing therapies by potentially offering a quarterly dosing regimen, contrasting with daily treatments of current options [37][39] Mechanistic Rationale - The mechanism of action for IL-15 in vitiligo involves blocking signals that maintain CD8 positive T-cells, which destroy melanocytes [31][33] - In celiac disease, IL-15 is linked to the proliferation of anti-gut lining cells, and blocking it may prevent damage to the gut lining [45][47] Competitive Landscape - Teva's IL-15 antibody is considered more potent than competitors, with a lower rate of anti-drug antibodies [50] - The company is exploring additional indications for its IL-15 treatment, including atopic dermatitis and alopecia areata [51] Future Developments - Teva plans to submit an IND for the TSLP/IL-13 combination by the end of the year, indicating a proactive approach to advancing its pipeline [85] Additional Important Insights - The company acknowledges the high costs of drug development, with $500 million being a reasonable estimate for a vitiligo program [21] - Safety profiles of new treatments are a significant concern, with IL-15 showing promising tolerability compared to existing JAK inhibitors [44] This summary encapsulates the key discussions and insights from the Teva Pharmaceutical Industries conference, highlighting the company's strategic focus on immunology and its innovative approaches to drug development.

Core Viewpoint - Teva Pharmaceutical Industries Limited (NYSE:TEVA) is recognized as a strong investment opportunity in the healthcare sector, with recent price target increases from Barclays and Scotiabank following positive fiscal Q4 results [1][2]. Financial Performance - Teva reported three consecutive years of revenue growth, projecting 2025 revenues of $17.3 billion, which represents a 4% year-over-year increase in U.S. dollars and 3% in local currency terms compared to 2024 [3]. - Excluding Japan BV, revenues increased by 5% year-over-year in local currency [3]. - The company's key innovation brands contributed significantly to growth, with projected revenues exceeding $3 billion in 2025, marking a 35% year-over-year increase in local currency [3]. - Fiscal Q4 2025 was notable as it was the first quarter where these innovation brands collectively generated approximately $1 billion in revenues [3]. Analyst Ratings - Barclays maintained an Overweight rating on Teva and raised the price target to $38 from $35, expressing confidence in the stock following the fiscal Q4 report [1]. - Scotiabank also raised its price target to $40 from $35 while maintaining an Outperform rating, citing the company's performance exceeding expectations [2].

Core Insights - Teva Pharmaceutical Industries Limited (NYSE:TEVA) is currently viewed as a promising investment opportunity with analysts raising price targets following positive financial results [1][2]. Group 1: Analyst Ratings and Price Targets - Barclays analyst Glen Santangelo increased the price target for Teva Pharmaceuticals to $38 from $35, maintaining an Overweight rating after the Q4 2025 report [1]. - Scotiabank also raised its price target for Teva Pharmaceuticals to $40 from $35 while keeping an Outperform rating, citing the company's performance exceeding expectations [2]. Group 2: Product Developments - Teva announced that the New England Journal of Medicine published Phase 3 data from the SPACE trial, showing that AJOVY (fremanezumab-vfrm) significantly reduces monthly migraine and headache days in children and adolescents aged 6–17 [3]. - AJOVY received FDA approval in August 2025 for pediatric patients weighing 45 kg or more, making it the first and only CGRP antagonist available for both adults and children [3]. Group 3: Company Overview - Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic and other medicines and biopharmaceutical products across the US, Europe, Israel, and internationally [4].

Core Thesis - Teva Pharmaceutical Industries Limited is undergoing a transformation from a debt-laden generics manufacturer to a company with a credible innovative pipeline, with Duvakitug as a key catalyst for valuation [2][5]. Company Overview - Teva develops, manufactures, markets, and distributes generic and biopharmaceutical products globally, including in the United States, Europe, and Israel [2]. - As of January 28th, Teva's share price was $33.07, with trailing and forward P/E ratios of 27.45 and 11.70 respectively [1]. Product Development - Duvakitug (TEV-'574) has shown success in Phase 2b trials for ulcerative colitis and Crohn's disease, positioning it as a significant valuation catalyst [2][5]. - The drug's mechanism targets both inflammation and fibrosis, addressing disease progression and structural damage in IBD patients [3]. Future Plans - Teva is preparing for Phase 3 trials of Duvakitug in H2 2025 and is expanding its program into two new Phase 2 indications, likely including systemic sclerosis and either atopic dermatitis or asthma [3][4]. - The strategic reach of Duvakitug is broadened by these new indications, although they face varying levels of competition [4]. Market Position and Potential - Teva's potential upside is limited by competition, particularly from Merck's tulisokibart and the need for an FDA-approved anti-fibrosis label claim [5]. - Despite these challenges, Duvakitug represents a substantial call option for Teva, with shares potentially reaching $29–31 over the next year if the drug progresses successfully [5]. Historical Context - A previous bullish thesis highlighted Teva's shift towards innovation, driven by growth from products like Austedo and Ajovy, with the stock appreciating 95.79% since coverage [6][7].

Product Launches and Approvals - The company has launched several biosimilar medicines, including TRUXIMA® in 2019, HERZUMA® in 2020, and RANIVISIO® in 2022, with future launches planned for SIMLANDI® in 2024 and SELARSDI in 2025[47]. - A strategic partnership with Samsung Bioepis was announced for the commercialization of EPYSQLI® in the U.S., which launched on April 7, 2025, targeting conditions like paroxysmal nocturnal hemoglobinuria[48]. - A collaboration agreement with Formycon for the commercialization of FYB203 in Europe was established, with Teva leading the marketing under the brand name AHZANTIVE®[49]. - The company received EMA approvals for PONLIMSI® and DEGEVMA® on November 25, 2025, expanding its biosimilar portfolio in Europe[50]. - AJOVY was approved for the preventive treatment of episodic migraine in children aged 6 to 17 years in August 2025, expanding its market reach[62]. - UZEDY was approved as a once-monthly extended-release injectable for bipolar 1 disorder on October 10, 2025, with plans for international launches being evaluated[63]. Financial Performance - Total revenues for 2025 were $17,258 million, with approximately 43% denominated in currencies other than the U.S. dollar, including 20% in euros[514]. - Net revenues for 2025 increased to $17,258 million, up 4.3% from $16,544 million in 2024[552]. - Gross profit for 2025 was $8,938 million, representing a 10.8% increase from $8,064 million in 2024[552]. - Operating income for 2025 was $2,157 million, a significant recovery from an operating loss of $303 million in 2024[552]. - Net income for 2025 was $1,418 million, compared to a net loss of $1,959 million in 2024[552]. - Total assets increased to $40,748 million in 2025, up from $39,326 million in 2024[550]. - Total liabilities decreased to $32,834 million in 2025, down from $33,606 million in 2024[550]. - Cash and cash equivalents rose to $3,556 million in 2025, compared to $3,300 million in 2024[550]. - Earnings per share for 2025 were $1.23, a turnaround from a loss of $1.45 per share in 2024[552]. - Total comprehensive income for 2025 was $2,202 million, compared to a comprehensive loss of $2,467 million in 2024[556]. Research and Development - Teva has over 900 generic products in its pre-approved global pipeline, which includes products at various stages of the approval process[79]. - The innovative R&D pipeline includes key products such as olanzapine LAI for schizophrenia, submitted for regulatory review in December 2025[86]. - Teva's biosimilar products in development include candidates for Xolair® and Entyvio®, with submissions for regulatory review in the U.S.[88]. - Teva's R&D focuses on high-value generics and complex formulations, with a significant investment in API R&D to support timely market introductions[84]. - The company operates a global R&D group responsible for innovative medicines, generic medicines, and biosimilars, enhancing efficiency across operations[77]. Workforce and Employee Engagement - Teva's global workforce as of December 31, 2025, consisted of 33,950 employees, a decrease from 36,830 in 2024 and 37,851 in 2023[113]. - The full-time employee count decreased to 31,173 in 2025 from 33,892 in 2024, while part-time employees were 1,669, and contractors numbered 1,108[114]. - In the United States, the employee count was 4,613, down from 5,104 in 2024, and in Europe, it was 17,390, down from 18,555 in 2024[114]. - Employee engagement survey in 2025 achieved an 83% response rate, with stable satisfaction levels reported across various dimensions[125]. - The company is focused on employee career growth and development, with AI-driven talent development systems expected to be rolled out by the end of 2025[120]. Regulatory and Compliance - The FDA User Fee Reauthorization Act of 2022 allows the FDA to collect user fees from drug manufacturers through fiscal year 2027 to support the product review process[136]. - The Inflation Reduction Act of 2022 requires manufacturers to engage in price-setting discussions with Medicare for certain drugs, with the first set of 10 Part D drugs selected for negotiation announced in August 2024[138]. - The CMS will monitor price increases of drugs under Medicare, imposing rebates if price increases exceed inflation, with penalties for noncompliance set at 125% of the calculated rebate amount[140]. - The European Union's regulatory framework requires marketing authorizations for pharmaceutical products, which can create complexities in pricing and market entry[156]. - The European Commission is reviewing regulatory exclusivity provisions, with potential changes expected by 2026 that could impact market entry for generics[158]. Financial Risk Management - The company has established financial risk management measures to minimize the impact of foreign exchange and interest rate fluctuations[512]. - The company recorded an impairment charge of $726 million for long-lived assets related to a manufacturing facility in Europe for the year ended December 31, 2025[545]. - The total outstanding debt as of December 31, 2025, was $16,807 million, with fixed-rate debt amounting to $16,873 million[528]. - The company manages interest rate risk through various debt instruments, including senior notes and sustainability-linked senior notes[526]. - The company utilizes cross currency swaps and forward contracts to hedge against fluctuations in foreign subsidiaries' net assets[524].

Core Viewpoint - Teva Pharmaceutical Industries Limited is considered one of the best healthcare stocks to buy for 2026, with analysts optimistic about its growth potential despite some revenue headwinds [1][2]. Financial Performance - Teva reported strong Q4 2025 results, with earnings per share (EPS) of $0.96, surpassing the forecast of $0.65, and revenue of $4.71 billion, exceeding expectations of $4.33 billion, aided by a $500 million milestone payment from Sanofi [3]. - However, the company projected lower revenue for 2026, estimating between $16.4 billion and $16.8 billion, along with adjusted EPS of $2.57 to $2.77, reflecting a significant impact from lost sales of its generic Revlimid due to increased competition [3]. Growth Drivers - Teva's innovative portfolio is a key growth driver, with Austedo generating $725 million in U.S. sales in Q4, marking a 40% year-over-year increase. The combined revenue from Austedo, Ajovy, and Uzedy reached $3.1 billion in 2025 and is expected to grow to up to $3.6 billion in 2026 [4]. - Analysts highlight pipeline catalysts, including a potential FDA decision on Olanzapine LAI, which could unlock a $3 billion sales opportunity, supporting Teva's growth narrative [1][2]. Market Position - Teva is recognized as a global leader in generic and specialty medicines, focusing on the development, manufacturing, and marketing of drugs across various therapeutic areas, including central nervous system, respiratory, and oncology [5].