Following the positive opinions of the Committee for Medicinal Products for Human Use (CHMP), the European Commission has granted marketing authorizations for Teva’s biosimilars PONLIMSI and DEGEVMA expanding access to important bone health treatments across Europe These approvals mark another significant milestone in Teva’s strong biosimilars portfolio, in line with Teva's Pivot to Growth StrategyThe approvals underscore Teva’s commitment to broadening access to biosimilars TEL AVIV, Israel, Nov. 25, 2025 ...

TEL AVIV, Israel, Nov. 21, 2025 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today announced that Richard Francis, Teva's President and CEO, and other members of executive management will present at three upcoming investor conferences in December as follows: 8th Annual Evercore Healthcare ConferenceWednesday, December 3, 2025, at 8:20 A.M. Eastern Time (ET)Piper Sandler 37th Annual Healthcare ConferenceWednesday, December 3, 2025, at 11:00 A.M. Eastern Time (ET)Citi’s 2025 G ...

Core Viewpoint - Curtiss-Wright Corporation reported strong financial results for Q3 2025, leading to an increase in full-year guidance for sales, operating income, and diluted EPS, driven by the successful implementation of its "Pivot to Growth" strategy [1][2]. Financial Performance - Reported sales reached $869 million, a 9% increase from Q3 2024, with operating income of $166 million, reflecting a 15% growth [3][5]. - Adjusted operating income was $170 million, up 14%, with an adjusted operating margin of 19.6%, an increase of 90 basis points [5][6]. - Diluted EPS increased to $3.31, with adjusted diluted EPS at $3.40, both up 14% year-over-year [5][6]. Segment Performance - **Aerospace & Industrial**: Sales of $248 million, up 8%, with operating income of $45 million, a 21% increase [4][11]. - **Defense Electronics**: Sales of $253 million, a 4% increase, with operating income of $74 million, up 16% [7][12]. - **Naval & Power**: Sales of $368 million, a 12% increase, with operating income of $58 million, up 9% [8][13]. Order and Backlog - New orders totaled $927 million, an 8% increase, resulting in a book-to-bill ratio of 1.1x [5][14]. - The backlog increased to $3.9 billion, reflecting a 14% growth year-to-date [5][14]. Cash Flow and Capital Allocation - Free cash flow for Q3 2025 was $176 million, an 8% increase, with a conversion rate of 137% [9][14]. - The company expanded its share repurchase program, targeting over $450 million in annual repurchases, indicating confidence in future performance [2][14]. Updated Guidance - Full-year 2025 sales guidance was raised to a range of $3,420 million to $3,455 million, reflecting a growth of 10% to 11% [15]. - Operating income guidance was increased to $634 million to $647 million, representing a growth of 16% to 19% [15]. - Diluted EPS guidance was updated to a range of $12.95 to $13.20, indicating a growth of 19% to 21% [15].

Q3 2025 Financial Performance - Revenues reached $4480 million, a 3% increase year-over-year[21, 93] - Adjusted EBITDA was $1400 million, up by 6% compared to the previous year[21] - Non-GAAP EPS increased by 14% to $078[21] - Free Cash Flow was $500 million[21] AUSTEDO Performance and Outlook - AUSTEDO U S revenues grew by 38% year-over-year to $601 million in Q3 2025[32] - AUSTEDO global revenues grew by 38% year-over-year to $618 million in Q3 2025[25] - The company reaffirmed its 2027 sales target for AUSTEDO at over $25 billion[29, 58] Pipeline and Strategic Updates - UZEDY revenues in Q3 2025 reached $43 million, a 24% increase year-over-year[25, 36] - The company reaffirmed its 2025 revenue outlook for UZEDY at $190 million - $200 million[35] - Global revenues for AJOVY reached $168 million in Q3 2025, a 19% increase year-over-year[25, 46] - The company is targeting olanzapine LAI FDA submission in Q4 2025[48, 63]

Teva's Pipeline and Capabilities - Teva has in-house R&D experts with a proven track record in developing neuroscience products at all stages of development[15] - Teva has substantial, experienced commercial neuroscience teams[16] Schizophrenia Market and Unmet Needs - There are an estimated ~47 million prevalent schizophrenia patients in the US and Europe[35] - Approximately 23 million patients are diagnosed, and ~21 million are treated[39] - Long untreated psychosis is associated with poor long-term outcomes[21] - Suboptimal medication adherence is a major modifiable risk factor for relapse, highlighting the need for LAIs[22] Teva's Olanzapine LAI (TEV-'749) - Teva's olanzapine LAI met primary and key secondary efficacy endpoints at all 3 doses[30] - The efficacy and systemic safety profile of Teva's olanzapine LAI is comparable to daily oral olanzapine, with no PDSS to date[30] - Approximately 4,000 subcutaneous injections across multiple clinical studies, with no PDSS observed[30] - All TEV-'749 doses exhibited long-term, continuous symptom improvement and maintenance of clinical effectiveness in the SOLARIS study[59] - No suspected or confirmed PDSS events were reported in 3470 injections[59] Commercial Opportunity - Teva aims to be the preferred LAI for patients appropriate for oral risperidone or paliperidone and modestly controlled patients seeking additional convenience[34] - Teva is addressing a broad spectrum of patients with UZEDY and olanzapine LAI, with 65%-80% of patients having the potential to switch as they are currently on a similar molecule[45] - Teva anticipates franchise peak sales expectation of $15 billion-$20 billion for Olanzapine LAI TEV-'749[45]

Company Overview - Teva Pharmaceutical Industries Ltd. is a leading innovative biopharmaceutical company with a strong generics business, committed to addressing patients' needs for over 120 years [2] Upcoming Events - Richard Francis, Teva's President and CEO, will present at two investor conferences in September 2025: Morgan Stanley 23rd Annual Global Healthcare Conference on September 9 at 8:30 A.M. ET and BofA Global Healthcare Conference 2025 in London on September 24 at 9:00 A.M. British Summer Time [1][4] Webcast Information - A live webcast of the presentations will be available on Teva's Investor Relations website, with an archived version accessible within 24 hours after the live discussion [1]

Financial Data and Key Metrics Changes - Sales for Q2 2025 reached $877 million, a 12% increase year-over-year, driven by strong organic growth of 9% [5][6] - Operating income increased by 20% year-over-year, leading to a 130 basis points expansion in overall operating margin [5][6] - Diluted earnings per share rose by 21% year-over-year, slightly exceeding expectations [6] - Free cash flow was $117 million, reflecting a 17% year-over-year improvement and nearly 100% cash conversion [6][9] - The company raised its full-year sales growth guidance to 9% to 10% and expects diluted EPS growth of 16% to 19% [9][25] Business Line Data and Key Metrics Changes - **Aerospace and Industrial**: Sales increased by 3%, with solid OEM sales growth in commercial aerospace and modest increases in defense markets [10][11] - **Defense Electronics**: Sales grew by 11%, driven by increased sales of embedded computing equipment and tactical communications revenues [12] - **Naval and Power**: Sales surged by 19%, primarily due to higher naval defense revenues, particularly from the Columbia Class submarine program [13][14] Market Data and Key Metrics Changes - The overall backlog increased by 12% year-to-date, reaching a record of over $3.8 billion [7] - Book-to-bill ratio across Aerospace and Defense markets was 1.2 times, indicating strong demand [6] - Direct foreign military sales are expected to grow by approximately 20% in 2025, reflecting increased demand from NATO and allied countries [29] Company Strategy and Development Direction - The company is focused on a "pivot to growth" strategy, emphasizing operational excellence and collaboration on R&D projects [4] - Key growth areas identified include defense and commercial nuclear sectors, with expectations for significant long-term opportunities [27][36] - The company plans to leverage advancements in AI and machine learning to enhance its defense applications [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strong financial performance in 2025, supported by a robust order book and favorable market conditions [9][37] - The company anticipates continued growth in defense spending and a strategic shift towards nuclear power, driven by global energy demands [27][31] - Management highlighted the importance of maintaining a disciplined capital allocation strategy while pursuing growth opportunities [37] Other Important Information - The Board approved a $400 million increase in share repurchase authorization and a 14% increase in the quarterly dividend, marking nine consecutive years of dividend growth [8] - The company expects to generate free cash flow in the range of $520 million to $535 million, reflecting an improved conversion rate of approximately 108% [25] Q&A Session Summary Question: What is driving growth acceleration in commercial aerospace? - Management noted a conservative position entering the year, with mixed signals from customers but overall positive trends expected in the second half [40][42] Question: What applications are the new GPU chips finding use cases for? - The company highlighted applications in defensive systems and command and control, emphasizing the importance of quick decision-making in modern warfare [44][46] Question: How sustainable is the margin performance in Defense Electronics? - Management indicated ongoing restructuring and operational excellence initiatives are driving margin improvements, with further opportunities for growth [50][52] Question: What is the outlook for the M&A pipeline? - The company is actively looking for acquisition opportunities but remains disciplined in its approach, prioritizing strategic fits [64][66] Question: How much of the Defense Electronics decline in Q3 is visible based on backlog? - Management reported a book-to-bill ratio of 0.9 in Defense Electronics, with expectations for a strong finish in Q4 as backlog issues are resolved [69][72]

Financial Data and Key Metrics Changes - Revenues increased to $4.2 billion, up 1%, marking the tenth consecutive quarter of growth [8][10] - Adjusted EBITDA rose by 7%, and non-GAAP EPS increased by 10% [9] - Net debt to EBITDA ratio is just over 3 times [9][46] Business Line Data and Key Metrics Changes - AUSTEDO revenue reached approximately $495 million, up 22% [13] - ECETI revenue surged by 120% to $54 million [12] - AJOVY revenue grew by 31% to $155 million [12] - Global Generics business declined by 2%, reflecting strong prior year comparisons [21] - TAPI revenue decreased by 11%, attributed to seasonality and timing of shipments [12] Market Data and Key Metrics Changes - U.S. generics business showed a decline due to tough prior year comparisons and timing of shipments [22][24] - EU generics business grew by 8% in the prior year, but growth has slowed due to product launches and competitive stockouts [24] Company Strategy and Development Direction - The company is focused on a "pivot to growth" strategy initiated in 2023, emphasizing innovative products and generics stability [6][27] - A target of $700 million in net savings by 2027 has been set, with 20% of this already achieved [27][40] - The company aims to achieve a 30% operating margin by 2027 [40][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2025 guidance despite uncertainties around U.S. tariffs on pharmaceuticals [41][52] - The innovative portfolio is expected to over-deliver, with raised guidance for AUSTEDO, YEUSEDI, and AJOVY [30][51] - The company anticipates a flat to low single-digit growth in generics for the full year [25][52] Other Important Information - The company has divested its Japanese business, which is consistent with its strategy to focus on profitable growth [42] - Free cash flow grew by 47% to $476 million, driven by higher net income and working capital improvements [45] Q&A Session Summary Question: Insights on AUSTEDO and IRA negotiations - Management refrained from commenting on IRA negotiations due to ongoing discussions with CMS [63][64] Question: Impact of tariffs announced in Europe - Management is assessing the details of the tariffs and believes they have mitigated potential impacts on the business [65][66] Question: AUSTEDO BID to XR conversion timeline - Management indicated that while new patients are converting to XR, it will take time for the majority of patients to transition [72][75] Question: Clarification on tariff impacts and exclusions - Management acknowledged uncertainty regarding the specifics of tariff exclusions and is awaiting further clarity [81][84] Question: Updates on DUVAKITU and Phase II data - Management confirmed that Phase III studies for DUVAKITU are on track and Phase II data will be presented in 2026 [90][91] Question: Revenue guidance related to generic Revlimid - Management clarified that revenue guidance is influenced by the performance of generic Revlimid, particularly in Q4 [103]

Financial Performance - Teva's Q2 2025 revenues remained flat at $4176 million compared to Q2 2024, but excluding Japan BV, revenues increased by 2%[87] - Non-GAAP EPS increased by 10% to $066 in Q2 2025 compared to $061 in Q2 2024[87] - Free cash flow increased significantly by 47% to $476 million in Q2 2025 from $324 million in Q2 2024[87] - The company is on track to achieve a 30% operating profit margin (OPM) by 2027 through its transformation program[85, 91] Product Performance - AUSTEDO U S revenues grew by 22% year-over-year to $495 million in Q2 2025[26] - UZEDY revenues increased significantly by 120% year-over-year to $54 million in Q2 2025[22, 31] - AJOVY global revenues increased by 31% year-over-year to $155 million in Q2 2025[22, 34] - Global generics revenues declined by 2%[22], and in local currency, global generics revenues decreased 5% vs Q2'24 including Japan BV[23] Pipeline and Strategy - The company expects to submit olanzapine LAI for U S NDA in Q4 2025[36, 55, 62] - Teva is targeting peak sales of $15-2 billion for the LAI franchise (UZEDY and olanzapine LAI)[102] - The company anticipates the start of Phase 3 trials for duvakitug in ulcerative colitis (UC) and Crohn's disease (CD) by Sanofi in Q4 2025[68] - Teva transformation in '25 well on track to deliver annualized ~20% of total $700 million savings[105]

Core Insights - Teva Pharmaceutical Industries Limited has entered the acceleration phase of its "Pivot to Growth" strategy after successfully completing the initial phase, which has led to nine consecutive quarters of growth [3]. Group 1: Company Strategy - The acceleration phase represents a continuation and intensification of the strategy to transition Teva from a pure-play generics company to a biopharma company [3]. - The first two years of the strategy focused on returning the company to growth after several years of decline, which has now been achieved [3]. Group 2: Future Focus - The company is now focused on execution over the next 12 to 18 months, emphasizing key aspects of the acceleration phase [2].