Teva Reaffirms "Pivot to Growth" Strategy Progress with Launch of Acceleration Phase at 2025 Innovation and Strategy Day

• Teva outlines acceleration path into a leading biopharma company
• Innovative medicines franchise on track to exceed $5 billion by 2030, led by AUSTEDO^® (deutetrabenazine), AJOVY^® (fremanezumab), UZEDY^® (risperidone) and late-stage pipeline with blockbuster potential
• Reaffirming 2027 financial targets, including 30% operating profit margin, driven by innovative growth and transformation programs
  
  

TEL AVIV, Israel and PARSIPPANY, N.J., May 29, 2025 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), is hosting today a 2025 Innovation & Strategy Day, to launch the acceleration phase of its "Pivot to Growth" strategy and to discuss portfolio priorities as it evolves into a global biopharmaceutical leader. The event, led by President and CEO Richard Francis and members of Teva's executive management team, will outline the company's strategy, progress and roadmap to deliver sustained shareholder value through 2030 and beyond.

Presentations begin at 8:30 a.m. Eastern Time and are expected to conclude at 12:30 p.m. Eastern Time. A live webcast of the event and presentation materials will be available on Teva's Investor Relations website at: https://ir.tevapharm.com/Events-and-Presentations.

Where We Are Today

Teva has completed Phase 1 of the Strategy: Return to Growth, delivering:

• 9 consecutive quarters of growth – fueled by strong momentum from key innovative growth drivers.
• More than $2.3 billion in revenue in 2024 from Teva's innovative portfolio: AUSTEDO^®, AJOVY^®, and UZEDY^®.
• Returning the generics business to growth with +5% in revenues across regions, and top 3 global portfolio with potential for five product launches by 2027.
  
  

"The past two years have been about returning to growth and building a solid foundation. Today, Teva is a fundamentally different company – more focused, more innovative, and more robust. I am proud that we have delivered on our commitments," said Richard Francis, Teva's President and CEO. "Now, we are accelerating our growth into a leading biopharma company with a strong innovative medicines franchise and a powerhouse generics and biosimilars portfolio."

Delivering on Our Growth Engines

Teva's innovative portfolio continues to drive strong performance and future potential. The company has announced its target to build a >$5 billion innovative medicines franchise by 2030, driven by AUSTEDO, AJOVY, UZEDY, and a robust pipeline of late-stage assets including olanzapine LAI, duvakitug, DARI, and emrusolmin.

• AUSTEDO: Expected to exceed $2.5 billion in sales by 2027 and exceed $3 billion by 2030.
• AJOVY: A globally established brand with presence across 43 countries and expected launches in 3 additional countries this year.
• LAI schizophrenia franchise expected to have $1.5 billion to $2.0 billion in peak sales
  • UZEDY: Fastest growing LAI with >60% risperidone LAI market share captured.
  • Olanzapine LAI: Set to expand our LAI franchise - U.S. NDA filing expected in H2 2025.
    
    

Stepping Up Innovation

Teva's late-stage pipeline includes multiple assets with proven mechanisms and blockbuster potential:

• duvakitug (anti-TL1A): A potentially best-in-class treatment for inflammatory bowel disease, with potential expansion into additional indications with peak sales potential of up to $2-$5 billion.
• DARI: A dual-action rescue inhaler for asthma, that could address a significant unmet need as a first ICS/SABA combination for both adult and pediatric patient populations, with peak sales potential of ~$1 billion.
• olanzapine LAI: A differentiated long-acting injectable for schizophrenia, that we expect to build on the success of UZEDY and expand Teva's LAI franchise.
• emrusolmin: A potential first-in-class treatment for Multiple System Atrophy (MSA), a rare and fatal neurodegenerative disease that currently has no approved treatments, with peak sales potential of more than $2 billion.
• TEV-‘408: Anti-IL-15 antibody granted fast-track designation by the U.S. Food and Drug Administration (FDA) to be evaluated for the treatment of celiac disease, with peak sales potential of more than $1 billion.
  
  

Sustaining Our Generics Powerhouse

Teva's generics, biosimilars, and OTC business remains a stable, robust and cash-generating powerhouse. Teva continues to lead in generics globally, with a strong pipeline of complex generics and biosimilars.

• 13 biosimilars in the pipeline, with potential for 5 new launches planned by 2027.
• Strategic focus on complex generics, biosimilars, and OTC to compensate gRevlimid by 2027.
• Expanding on our $1.1 billion OTC business with a global portfolio of strong local and global brands, outperforming the market with double-digit growth.
• Continued manufacturing transformation to enhance competitiveness and margins.
  
  

Focusing Our Business

Teva is accelerating shareholder value creation with reaffirmed its 2027 financial targets:

• Revenue growth driven by innovative launches and stable generics business.
• Operating margin expansion to 30% by 2027.
• Free cash flow of >$2.7 billion in 2027 and >$3.5 billion by 2030.
• Payment of debt down to 2x net leverage.
• ~$700 million in net savings through modernizing the organization and improving operational efficiencies, enabling reinvestment in R&D and commercial capabilities.
  
  

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a different kind of global biopharmaceutical leader, one that operates across the full spectrum of innovation to reliably deliver medicines to patients worldwide. For over 120 years, Teva's commitment to bettering health has never wavered. Today, the company's global network of capabilities enables its 37,000 employees across 57 markets to advance health by developing medicines for the future while championing the production of generics and biologics. We are dedicated to addressing patients' needs, now and in the future. Moving forward together with science that treats, inspired by the people we serve. To learn more about how Teva is all in for better health, visit www.tevapharm.com.

This press release 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 significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as "should," "expect," "anticipate," "estimate," "target," "may," "project," "guidance," "intend," "plan," "believe" and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. These forward-looking statements include statements concerning our plans, strategies, objectives, future performance and financial and operating targets, and any other information that is not historical information. Important factors that could cause or contribute to such differences include risks relating to:

• our ability to successfully compete in the marketplace, including: uncertainty of achieving financial and operational targets, including peak sales, or the timing for achievement of such targets; that we are substantially dependent on our generic products; concentration of our customer base and commercial alliances among our customers; competition faced by our generic medicines from other pharmaceutical companies and changes in regulatory policy that may result in additional costs and delays; delays in launches of new generic products; our ability to develop and commercialize additional pharmaceutical products; competition for our innovative medicines; our ability to achieve expected results from investments in our product pipeline; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, to sustain and focus our portfolio of generic medicines, and to execute on our organizational transformation and to achieve expected cost savings; and the effectiveness of our patents and other measures to protect our intellectual property rights, including any potential challenges to our Orange Book patent listings in the U.S.;
• our significant indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; and our potential need to raise additional funds in the future, which may not be available on acceptable terms or at all;
• our business and operations in general, including: the impact of global economic conditions and other macroeconomic developments and the governmental and societal responses thereto; the widespread outbreak of an illness or any other communicable disease, or any other public health crisis; effectiveness of our optimization efforts; significant disruptions of information technology systems, including cybersecurity attacks and breaches of our data security; interruptions in our supply chain or problems with internal or third party manufacturing; challenges associated with conducting business globally, including political or economic instability, major hostilities or terrorism, such as the ongoing conflict between Russia and Ukraine and the state of war declared in Israel; our ability to attract, hire, integrate and retain highly skilled personnel; our ability to successfully bid for suitable acquisition targets or licensing opportunities, or to consummate and integrate acquisitions; and our prospects and opportunities for growth if we sell assets or business units and close or divest plants and facilities, as well as our ability to successfully and cost-effectively consummate such sales and divestitures, including our planned divestiture of our API business;
• compliance, regulatory and litigation matters, including: failure to comply with complex legal and regulatory environments; the effects of governmental and civil proceedings and litigation which we are, or in the future become, party to; the effects of reforms in healthcare regulation and reductions in pharmaceutical pricing, reimbursement and coverage; increased legal and regulatory action in connection with public concern over the abuse of opioid medications; our ability to timely make payments required under our nationwide opioids settlement agreement and provide our generic version of Narcan^® (naloxone hydrochloride nasal spray) in the amounts and at the times required under the terms of such agreement; scrutiny from competition and pricing authorities around the world, including our ability to comply with and operate under our deferred prosecution agreement ("DPA") with the U.S. Department of Justice ("DOJ"); potential liability for intellectual property right infringement; product liability claims; failure to comply with complex Medicare, Medicaid and other governmental programs reporting and payment obligations; compliance with sanctions and trade control laws; environmental risks; and the impact of ESG issues;
• the impact of the state of war declared in Israel and the military activity in the region, including the risk of disruptions to our operations and facilities, such as our manufacturing and R&D facilities, located in Israel, the impact of our employees who are military reservists being called to active military duty, and the impact of the war on the economic, social and political stability of Israel;
• other financial and economic risks, including: our exposure to currency fluctuations and restrictions as well as credit risks; potential impairments of our long-lived assets; the impact of geopolitical conflicts including the state of war declared in Israel and the conflict between Russia and Ukraine; potential significant increases in tax liabilities; the effect on our overall effective tax rate of the termination or expiration of governmental programs or tax benefits, or of a change in our business; our exposure to changes in international trade policies, including the imposition of tariffs in the jurisdictions in which we operate, and the effects of such developments on sales of our products and the pricing and availability of our raw materials; and the impact of any future failure to establish and maintain effective internal control over our financial reporting;

and other factors discussed in this press release, in our Quarterly Report on Form 10-Q for the first quarter of 2025 and in our Annual Report on Form 10-K for the year ended December 31, 2024, including in the sections captioned "Risk Factors" and "Forward Looking Statements." Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

Teva Media Inquiries

[email protected]

Teva Investor Relations Inquires

[email protected]