Core Insights - Teva Pharmaceutical Industries Ltd. is set to present its ongoing transformation and growth trajectory through 2030 at the 44th Annual J.P. Morgan Healthcare Conference [1] - The presentation will highlight milestones achieved in 2025, transformative initiatives, and a forward-looking outlook for 2026 and beyond [1] Financial Performance Outlook - Expected revenues for 2025 are projected to be between $16.8 billion and $17.0 billion, with a lower point of the range contributing an additional $500 million from duvakitug milestones [3] - Operating margin is anticipated to be around 26.2% to 27.1%, with a mid to high point of the range contributing approximately 80%-85% [3] - Adjusted EBITDA is expected to be between $4.8 billion and $5.0 billion, with a midpoint of the range contributing around $400 million to $430 million [3] - The diluted EPS is projected to be between $2.55 and $2.65, with the higher point of the range being emphasized [3] - Free cash flow is expected to be between $1.6 billion and $1.9 billion, with a higher point of the range contributing approximately $500 million [3] - Net leverage is projected to be around 2.5x to 2.9x, with a midpoint of the range at approximately 2.5x [3] Future Growth Strategy - Teva is accelerating its "Pivot to Growth" strategy, focusing on becoming a leading innovative biopharmaceutical company, supported by its generics business [6] - Key innovative brands such as AUSTEDO, AJOVY, and UZEDY are driving growth and reshaping the financial outlook [6] - The clinical pipeline includes assets like olanzapine LAI, DARI, duvakitug, emrusolmin, and anti-IL-15, which are expected to support long-term growth [6] - For 2026, revenues are expected to be flat to slightly down compared to 2025, with low-single digit growth anticipated for 2027 and mid-single digit CAGR by 2030 [5] - Operating profit is expected to grow by 30% in 2027, with free cash flow projected to exceed $2.7 billion [5]

Core Insights - Teva Pharmaceutical Industries Ltd. reported Q3 2025 revenues of $4.5 billion, a 3% increase year-over-year in U.S. dollars, or 1% in local currency [2] - The company is on track to achieve a non-GAAP operating profit margin target of 30% by 2027 as part of its Pivot to Growth strategy [4][5] Financial Performance - Revenues increased by 5% in U.S. dollars, or 3% in local currency, when excluding Japan BV from Q3 2024 [2] - GAAP operating income margin was 19.7%, while non-GAAP operating income margin was 28.9%, reflecting an 86 basis points increase year-over-year [2] - Net income attributable to Teva was $433 million, with diluted earnings per share of $0.37, compared to a net loss of $437 million and loss per share of $0.39 in Q3 2024 [22] Segment Performance - The United States segment saw revenues of $2.48 billion, a 12% increase compared to Q3 2024, driven by key innovative products like AUSTEDO [30][32] - The Europe segment reported revenues of $1.24 billion, a decrease of 2% compared to Q3 2024, primarily due to lower revenues from generic products [46] - The International Markets segment experienced a 9% decrease in revenues to $557 million, largely due to the divestment of the business venture in Japan [58] Key Product Performance - AUSTEDO revenues grew by 38% year-over-year to $601 million, with an increased revenue outlook for 2025 [2][7] - AJOVY revenues increased by 19% to $168 million, reaffirming the 2025 revenue outlook of $630 million to $640 million [2][7] - UZEDY revenues reached $43 million, a 24% increase, with a reaffirmed 2025 revenue outlook of $190 million to $200 million [2][7] Research and Development - R&D expenses in Q3 2025 were $256 million, a 7% increase compared to Q3 2024, driven by immunology projects [12] - The innovative pipeline achieved key milestones, including Phase 3 trial data for olanzapine LAI and FDA Fast Track designation for emrusolmin [8][12] Strategic Initiatives - Teva is focused on transforming and modernizing its business through the Teva Transformation programs, aiming for ~$700 million in net savings by 2027 [5][15] - The company has terminated exclusive discussions with a selected buyer regarding the sale of its API business and is initiating a renewed sales process [15][70]

Core Insights - Teva Pharmaceutical Industries Ltd. reported Q2 2025 results, highlighting a 10 consecutive quarters of year-over-year revenue growth, with revenues of $4.2 billion, a 1% increase in local currency terms excluding Japan BV revenues [3][4][8] - The company is on track to achieve a 30% operating profit margin by 2027 as part of its Pivot to Growth Strategy, with a focus on innovative product growth and transformation programs [3][5][6] Financial Performance - Q2 2025 revenues were $4,176 million, flat in U.S. dollars, or a decrease of 1% in local currency terms compared to Q2 2024 [8] - Gross profit increased to $2,102 million, a 4% rise compared to $2,024 million in Q2 2024, with a gross profit margin of 50.3% [10] - Non-GAAP diluted EPS for Q2 2025 was $0.66, an increase of 9% year-over-year [17] Product Performance - AUSTEDO revenues reached $498 million in Q2 2025, a 19% increase in local currency compared to Q2 2024, with an increased 2025 revenue outlook of $2,000 million - $2,050 million [3][6] - AJOVY global revenues were $155 million in Q2 2025, a 31% increase in local currency compared to Q2 2024, with an increased 2025 revenue outlook of $630 million - $640 million [3][6] - UZEDY revenues accelerated to $54 million in Q2 2025, a 120% increase compared to Q2 2024, with an increased 2025 revenue outlook of $190 million - $200 million [3][6] Segment Results - The United States segment reported revenues of $2,151 million, a 2% increase compared to Q2 2024, driven by higher revenues from innovative products [27][39] - The Europe segment saw revenues of $1,298 million, a 7% increase compared to Q2 2024, mainly due to higher revenues from AJOVY and generic products [42][50] - The International Markets segment experienced a 17% decrease in revenues to $495 million, primarily due to the divestment of the business venture in Japan [54][63] Cost Management and Savings - Teva's transformation programs are expected to generate ~$700 million in net savings by 2027, with ~$70 million targeted for 2025 [3][6] - Selling and Marketing expenses in Q2 2025 were $654 million, flat compared to Q2 2024, while General and Administrative expenses increased by 8% to $305 million [12] Outlook - The company reaffirmed its 2025 revenue outlook of $16.8 - $17.2 billion and adjusted EBITDA of $4.7 - $5.0 billion [67] - Non-GAAP diluted EPS outlook for 2025 is projected to be $2.50 - $2.65, reflecting a $0.05 increase at the low-end [67]

Core Viewpoint - Teva Pharmaceutical's shares are experiencing a significant increase following the release of strong Q1 earnings and an upward revision of its full-year profit guidance [1][5]. Financial Performance - Teva reported Q1 adjusted earnings per share (EPS) of $0.52, surpassing Wall Street's expectation of $0.48 [2]. - The company reported quarterly sales of $3.89 billion, missing the anticipated $4 billion [2]. - Despite the revenue miss, Teva's margins expanded to 48.2%, up from 46.4% a year ago, attributed to a higher proportion of specialty drugs in overall sales [2]. Product Performance - The drug Austedo, used for treating movement disorders, generated worldwide revenue of $411 million for the quarter, reflecting a 39% increase compared to the same period last year [3]. Guidance Update - Teva raised its fiscal 2025 adjusted EPS guidance from a range of $2.35 to $2.65 to a new range of $2.45 to $2.65, with the new midpoint exceeding the consensus estimate of $2.55 [5]. Strategic Direction - CEO Richard Francis highlighted that Teva is entering the "Acceleration Phase" of its "Pivot to Growth Strategy," focusing on innovative growth, strengthening its generics business, and optimizing operations [6]. - The company's growth plan appears to be resonating well with investors, supported by efficiency measures and product growth [6][7].

Core Viewpoint - Teva Pharmaceutical Industries Ltd reported its Q1 2025 financial results, showing a revenue increase but missing analyst expectations, while also providing an optimistic outlook for future earnings and operational efficiency [1][3][4]. Financial Performance - Teva's revenue for Q1 2025 was $3.89 billion, a 5% increase year-over-year, but below the analyst estimate of $4.00 billion [1]. - Adjusted earnings per share were 52 cents, surpassing estimates of 48 cents [3]. - Gross profit margin improved to 48.2% from 46.4% year-over-year, with adjusted gross profit margin rising to 52.8% from 51.4% [3]. Product Performance - Austedo's worldwide revenues reached $411 million in Q1 2025, marking a 39% increase in local currency compared to Q1 2024, with U.S. revenues growing by 40% to $396 million [1]. - Ajovy's global revenues were $139 million, a 26% increase in local currency terms compared to Q1 2024 [2]. - Uzedy's global revenues were $39 million in Q1 2025 [6]. Guidance and Outlook - Teva raised its fiscal 2025 adjusted earnings per share guidance from $2.35-$2.65 to $2.45-$2.65, aligning closely with the consensus of $2.55 [3][4]. - The company narrowed its 2025 sales guidance from $16.8 billion-$17.4 billion to $16.8 billion-$17.2 billion, compared to the consensus of $17.24 billion [4]. - Teva increased its Austedo 2025 sales outlook from approximately $1.9-2.05 billion to $1.95-2.05 billion [4]. Operational Strategy - Teva's CEO highlighted the company's transition into the "Acceleration Phase" of its Pivot to Growth Strategy, aiming for a 30% operating margin and $700 million in net savings by 2027 [3]. - The generics business showed growth across all regions, with a 5% increase in the U.S., 1% in Europe, and 2% in International Markets, all in local currency terms compared to Q1 2024 [6].

Core Insights - Teva Pharmaceutical Industries Ltd. reported Q1 2025 revenues of $3.9 billion, marking a 5% increase in local currency terms compared to Q1 2024, driven by strong performance in innovative products and generics [4][5][7] - The company is on track to achieve a 30% operating profit margin by 2027 as part of its Pivot to Growth Strategy, with a revised full-year 2025 revenue outlook of $16.8 to $17.2 billion [4][5][71] - Teva's innovative products, including AUSTEDO, AJOVY, and UZEDY, collectively generated revenues of $589 million, each growing over 25% year-over-year [5][8] Financial Performance - Q1 2025 net income attributable to Teva was $214 million, with diluted earnings per share of $0.18, compared to a net loss of $139 million and a loss per share of $0.12 in Q1 2024 [17] - Non-GAAP diluted EPS for Q1 2025 was $0.52, an increase of 8% year-over-year [4][17] - Adjusted EBITDA for Q1 2025 was $1.041 billion, a 4% increase from $1.005 billion in Q1 2024 [18] Segment Performance - In the United States segment, revenues increased by 11% to $1.91 billion, driven by higher sales of innovative products and generics [25][26] - The Europe segment saw a 6% decrease in revenues to $1.194 billion, primarily due to lower revenues from COPAXONE and mature innovative product rights [42][43] - The International Markets segment reported revenues of $582 million, a 2% decrease, impacted by regulatory price reductions and competition in Japan [54][56] Product Highlights - AUSTEDO revenues in Q1 2025 were $396 million, a 40% increase year-over-year, attributed to volume growth and the launch of AUSTEDO XR [32][33] - AJOVY revenues increased by 18% to $53 million, driven by volume growth and an increase in market share [31][47] - UZEDY revenues surged by 156% to $39 million, reflecting strong demand following its launch [35] Strategic Initiatives - Teva is focused on transforming into a modern biopharmaceutical company, targeting approximately $700 million in net savings by 2027 [4][5][8] - The company is actively pursuing the divestiture of its API business to streamline operations and enhance capital allocation [68][69] - Teva plans to host an Innovation & Strategy Day on May 29, 2025, to discuss its growth strategy and future initiatives [4][73]