Teva Pharmaceutical Industries Limited (NYSE:TEVA) Q4 2024 Earnings Conference Call January 29, 2025 8:00 AM ET Company Participants Christopher Stevo - SVP, IR Richard Francis - President & CEO Eric Hughes - Head of R&D & Chief Medical Officer Eli Kalif - CFO Conference Call Participants Umer Raffat - Evercore ISI Jason Gerberry - Bank of America David Amsellem - Piper Sandler Balaji Prasad - Barclays Ash Verma - UBS Yifeng Liu - HSBC Glen Santangelo - Jefferies Chris Schulz - J.P. Morgan Operator Hello, a ...

Teva Pharmaceutical Industries Ltd. (TEVA) reported $4.23 billion in revenue for the quarter ended December 2024, representing a year-over-year decline of 5.1%. EPS of $0.71 for the same period compares to $1.00 a year ago.The reported revenue represents a surprise of +3.13% over the Zacks Consensus Estimate of $4.1 billion. With the consensus EPS estimate being $0.70, the EPS surprise was +1.43%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street exp ...

Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures as defined by SEC rules. Please see our press release reporting our financial results for 2024, as well as our Annual Report on Form 10-K for the year ended December 31, 2024, for a reconciliation of the non-GAAP financial measures to their nearest GAAP equivalents. Management believes that such non-GAAP financial measures provide useful information to investors to facilitate their understanding of our business becaus ...

EXHIBIT 99.1 Teva Delivers Second Consecutive Year of Growth; Announces Strong Financial Results in Fourth Quarter and Full Year 2024, Led by Generics Performance and Innovative Portfolio Growth Q4 2024 and FY 2024 highlights: | | Q4 2024 | FY 2024 | | --- | --- | --- | | Revenues | $4.2 billion | $16.5 billion | | GAAP loss per share | $0.19 | $1.45 | | Non-GAAP diluted EPS | $0.71 | $2.49 | | | | $1,247 | | Cash flow generated from operating activities | $575 million | million | | | | $2,068 | | Free cash ...

2024 Revenues of $16.5 billion reflect an increase of 6%, in local currency terms, compared to 2023;AUSTEDO® - exceeding $1.6 billion in revenues, surpassing 2024 outlook;AJOVY® - global annual revenues of $507 million, an increase of 18% in local currency terms compared to 2023;UZEDY® revenues of $117 million in 2024 surpassing $100M outlook;Generics business continues to grow across all segments, with increases of 15% in the U.S., 6% in Europe and 15% in International Markets, all in local currency terms ...

Israel-based pharmaceutical giant Teva Pharmaceutical Industries Ltd (NYSE:TEVA) is preparing for its latest quarterly earnings report, due out before the open Wednesday, Jan. 29. The stock snapped its positive post-earnings streak in November with a 7.1% loss, marking its first negative earnings reaction in six quarters. This time around, analysts expect the company to post earnings of 70 cents per share, and a 7.3% decrease in revenue from a year ago, per Reuters. On the charts, TEVA is still above its De ...

FDA Review and Biosimilar Development - The FDA has accepted Biologics License Applications (BLA) for AVT05, Alvotech's proposed biosimilar to Simponi and Simponi Aria (golimumab), with the review process expected to be completed in Q4 2025 [1] - AVT05 is the first biosimilar candidate to golimumab to have its BLA filings accepted in the U S [1] - Alvotech's in-house capability to match the cell line and process used to manufacture the reference biologic has provided a significant advantage in developing AVT05 [2] Strategic Partnership and Commercialization - Alvotech and Teva Pharmaceuticals entered into a strategic partnership in August 2020 for the exclusive commercialization of five biosimilar product candidates, which has since expanded to include nine products [3] - Under the partnership, Alvotech handles development and manufacturing, while Teva is responsible for commercialization in the U S [3] - Two biosimilars developed under the partnership, SIMLANDI (adalimumab-ryvk) and SELARSDI (ustekinumab-aekn), have already received FDA approval [4] Clinical and Regulatory Progress - Alvotech announced positive top-line results from a confirmatory clinical study comparing AVT05 to Simponi in patients with moderate to severe rheumatoid arthritis in April 2024 [2] - A pharmacokinetic study comparing AVT05 to Simponi in healthy adults also showed positive results in November 2023 [2] - SIMLANDI, a biosimilar to Humira, was launched in the U S in May 2024, while SELARSDI, a biosimilar to Stelara, is planned for U S market entry in February 2025 [4] Product Pipeline and Market Reach - Alvotech's current development pipeline includes nine disclosed biosimilar candidates targeting autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer [9] - The company has formed a network of strategic commercial partnerships to provide global reach, covering markets in the U S, Europe, Japan, China, and other regions [9] - SIMLANDI and SELARSDI are already approved and marketed in multiple global markets under various brand names [6][7] Industry Impact and Future Outlook - Biosimilars are becoming an integral part of the healthcare ecosystem, offering cost-saving options and better outcomes for patients with inflammatory conditions [2] - The strategic partnership between Alvotech and Teva underscores the commitment to expanding access to biosimilars and leveraging Teva's extensive sales and marketing infrastructure [3] - The FDA's acceptance of AVT05's BLA filings marks a significant step toward providing U S patients with access to biosimilar golimumab [1][2]

Company Overview - Teva Pharmaceutical Industries Limited is a global, profitable biopharmaceutical company with a growing and exciting innovative business [4] - The company has undergone significant changes under the leadership of CEO Richard Francis, who joined approximately two years ago [2][3] - Teva's strategy, referred to as the "Pivot to Growth," has been a key focus for employees worldwide, driving substantial transformation within the company [3] Leadership and Strategy - Richard Francis, President and CEO of Teva, has led the company through a period of significant change and improvement over the past two years [2][3] - The company's strategic focus on growth has been a major driver of its recent success, with employees globally aligning with this vision [3] Product Portfolio - Teva's innovative business includes key products such as AUSTEDO, AJOVY, and UZEDY, which are central to its growth strategy [4]

Key Points Company and Industry Overview 1. **Company**: Teva Pharmaceutical Industries Limited (NYSE:TEVA) 2. **Event**: 43rd Annual J.P. Morgan Healthcare Conference 3. **Date**: January 13, 2025 4. **Time**: 11:15 AM ET 5. **Participants**: - Richard Francis - President and CEO - Eric Hughes - Head of R&D and Chief Medical Officer - Chris Schott - J.P. Morgan [2] Company Performance and Strategy 1. **Richard Francis' Background**: Joined Teva about two years ago 2. **Teva's Transformation**: Focused on the Pivot to Growth strategy, driving significant change within the company 3. **Teva's Status**: Global, profitable biopharmaceutical company 4. **Innovative Business**: Growing and exciting innovative business segments, including AUSTEDO, AJOVY, and UZEDY [3][5]

Strategic Collaboration - Teva Pharmaceuticals International GmbH has entered into a strategic collaboration with Klinge Biopharma GmbH and Formycon AG for the semi-exclusive commercialization of FYB203, a biosimilar candidate to Eylea (aflibercept), in Europe (excluding Italy) and Israel [1] - The collaboration leverages Teva's commercial experience in biosimilars and its extensive distribution network across Europe, combined with Formycon's expertise in biosimilar development for highly regulated markets [2] - Klinge holds the exclusive global commercialization rights for FYB203, which will be marketed under the brand name AHZANTIVE, subject to regulatory approval [3][8] Product and Market Context - FYB203 is a biosimilar to Eylea (aflibercept), a drug used to treat neovascular age-related macular degeneration (nAMD) and other severe retinal diseases by inhibiting vascular endothelial growth factor (VEGF) [6] - Eylea achieved global sales of approximately USD 9 billion in 2023, including USD 2.9 billion in the European market, making it the highest-revenue drug in the anti-VEGF therapy sector [6] - The U.S. FDA approved FYB203 in June 2024, and the European Medicines Agency's CHMP issued a positive recommendation for its marketing authorization in November 2024, with a final decision expected in the second half of January 2025 [5] Company Profiles - Teva Pharmaceutical Industries Ltd is a global pharmaceutical leader with over 120 years of experience, employing approximately 37,000 people across 58 markets, and is known for its generics expertise and innovation in modern medicine [7] - Formycon AG is a leading independent developer of high-quality biosimilars, focusing on therapies in ophthalmology, immunology, and immuno-oncology, with a portfolio that includes FYB201 (ranibizumab biosimilar) and FYB203 (aflibercept biosimilar) [4][9] - Klinge Biopharma GmbH holds the exclusive global commercialization rights for FYB203 and has a proven track record in the commercialization of biosimilars, including FYB201 in Europe [8] Strategic Implications - The collaboration builds on the successful commercialization of FYB201 (ranibizumab biosimilar) in Europe, leveraging Teva's existing commercial infrastructure and distribution channels in the ophthalmology field [5][8] - Formycon will manage the entire commercial supply chain of FYB203 for the first time, marking a significant step in its operational capabilities [5] - The partnership aligns with Teva's Pivot to Growth strategy, expanding its biosimilars portfolio and reinforcing its commitment to providing access to innovative medicines [8]