Core Insights - Teva Pharmaceutical Industries Ltd. reported a revenue of $17.3 billion for FY 2025, marking a 4% increase YoY in U.S. dollars and 3% in local currency terms, driven by key innovative products [7][11] - The company achieved a significant milestone with its innovative brands, collectively generating approximately $1 billion in revenues during Q4 2025 for the first time [4][9] - Teva's "Pivot to Growth" strategy has been instrumental in driving three consecutive years of growth, with a focus on innovative medicines, generics, and biosimilars [4][6] Financial Performance - Q4 2025 revenues reached $4.7 billion, an 11% increase YoY in U.S. dollars and 9% in local currency terms [28] - FY 2025 GAAP diluted earnings per share (EPS) were $1.21, while non-GAAP diluted EPS stood at $2.93, reflecting strong operational performance [2][21] - Cash flow from operating activities for FY 2025 was $1,649 million, with free cash flow amounting to $2,396 million, indicating robust cash generation capabilities [25][26] Innovative Product Growth - Key innovative brands, including AUSTEDO, AJOVY, and UZEDY, contributed significantly to revenue growth, with AUSTEDO alone generating $725 million in Q4 2025, a 40% increase YoY [9][52] - AJOVY's revenues increased by 68% YoY to $105 million in Q4 2025, driven by expanded indications and volume growth [51] - UZEDY revenues reached $55 million in Q4 2025, reflecting a 28% increase YoY, showcasing Teva's commitment to advancing neuroscience [55] Cost Management and Operational Efficiency - Teva's gross profit for FY 2025 was $8.9 billion, an 11% increase from 2024, with a gross profit margin of 51.8% [13] - The company achieved $70 million in savings in 2025 as part of its transformation programs, with expectations to realize two-thirds of targeted savings by 2026 [10][17] - Operating income for FY 2025 was $2.2 billion, a significant turnaround from an operating loss in 2024, reflecting improved operational efficiency [17] Market Dynamics and Segment Performance - The U.S. segment generated $2.6 billion in Q4 2025, a 34% increase YoY, primarily due to innovative product growth and milestone payments [45] - The Europe segment reported revenues of $1.3 billion in Q4 2025, a 3% decrease YoY, impacted by lower sales of certain product rights and generic products [62] - The International Markets segment saw revenues decline by 20% YoY to $528 million, largely due to the divestment of the Japan business venture [75]

Cautionary Note Regarding Forward-Looking Statements This presentation contains forward -looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management 's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significant ly from that expressed or implied by such forward -looking statements. Important factors that c ...

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]