TEVA PHARMACEUTICAL INDUSTRIES (TEVA) Company Report

Teva is executing a "Pivot to Growth" strategy, aiming to grow EBITDA in 2026 despite a $1 billion loss from generic Revlimid sales, supported by $500 million in cost savings by the end of 2026.
The company projects continuous gross margin growth, from approximately 54% at the end of 2025 to 57-58% by 2027, driven by its expanding portfolio of high-margin innovative products.
Key growth drivers include AUSTEDO, with projected peak sales exceeding $3 billion (including $2.5 billion in 2027), and the schizophrenia franchise (UZEDY and olanzapine), expected to reach $1.5 billion to $2 billion.
Teva's late-stage pipeline features duvakitug TL1A, which entered Phase III in Q4 2025 and is projected to be a $3 billion to $5 billion product, with Teva receiving 50% of the economics.
The company also plans to double its biosimilar business to $400 million by 2027 through partnerships, targeting a portfolio of 25 biosimilars.

13 hours ago

Transcript

Teva Details "Pivot to Growth" Strategy and Pipeline at Citi Conference

TEVA

Guidance Update

Product Launch

Revenue Acceleration/Inflection

Teva is actively transitioning from a leading generics company to a biopharma company under its "Pivot to Growth" strategy, demonstrating significant progress over the past three years.
The company projects to grow its EBITDA in the upcoming year, despite an anticipated loss of over $1 billion from generic Revlimid sales, driven by strong performance from innovative products like Austedo (with projected peak sales exceeding $3 billion) and Uzedy, alongside $500 million in cost savings by the end of 2026.
Teva expects its gross margin to continuously expand, reaching 57%-58% by 2027 and continuing through 2032, primarily due to the increasing contribution of higher-margin innovative products from its pipeline.
Upcoming key product launches include Olanzapine (a long-acting schizophrenia product, launching end of Q3/Q4 next year, contributing to a $1.5-$2 billion schizophrenia franchise) and Duvakitug TL1A (a Phase 3 asset for UC/CD, projected as a $3-$5 billion product with Teva holding 50% economics, launching in 2029).

14 hours ago

Transcript

Teva Outlines Growth Strategy and Financial Outlook at Citi Global Healthcare Conference 2025

TEVA

Guidance Update

Product Launch

New Projects/Investments

Teva's "Pivot to Growth" strategy is progressing, with Austedo's peak sales now projected to exceed $3 billion, up from an initial analyst estimate of $1.4 billion. The IRA negotiation for Austedo provides certainty for $2.5 billion in 2027 and over $3 billion peak sales.
For 2026, Teva commits to grow EBITDA despite losing over $1 billion in sales from generic Revlimid, with the top line expected to be flat or slightly decline. This will be supported by $500 million in cost savings from organizational effectiveness programs by the end of 2026.
The company anticipates continued gross margin expansion, reaching 57%-58% in 2027 and growing further into the 2030s, driven by the increasing contribution of higher-margin innovative products.
Key pipeline developments include the planned launch of long-acting Olanzapine in late Q3/Q4 2026, projected to contribute to a $1.5-$2 billion schizophrenia franchise with Uzedy. The Duvakitug TL1A program, currently in Phase 3, is expected to be a $3-$5 billion product with Teva receiving 50% of the economics, with launch anticipated around 2029.

14 hours ago

Transcript

Teva Provides Updates on Key Products and Pipeline Developments

TEVA

Guidance Update

New Projects/Investments

Product Launch

Teva's Austedo business is managing Medicare Part D and IRA-related negotiated discounts, with the company maintaining its $2.5 billion guidance by 2027 for the product, citing significant headroom due to low patient diagnosis and treatment rates.
The Uzedy LAI antipsychotic franchise demonstrated 119% TRx growth year over year in Q3 and recently received approval for a bipolar indication, which is considered a meaningful advancement for leadership in the space.
Teva has initiated Phase 3 studies for Duvakitug (a TL1A molecule) in ulcerative colitis and Crohn's disease, with strong Phase 2 data showing it to be the most potent and selective TL1A with a direct anti-fibrotic effect.
The company is advancing its pipeline with a TSLP IL-13 directed therapy targeting an IND submission by the end of 2025, and expects Phase 3 data for its ICS-SABA combination product in early 2027.

1 day ago

Transcript

Teva Executives Discuss Product Performance and Pipeline Progress at Healthcare Conference

TEVA

Product Launch

New Projects/Investments

Guidance Update

Teva views the impact of Medicare Part D and IRA-related negotiated discounts on AUSTEDO as manageable and aligned with expectations, supporting its $2.5 billion revenue guidance by 2027. The company sees significant headroom for growth due to low patient penetration.
UZEDY demonstrated strong performance with 119% year-over-year TRx growth in Q3, primarily gaining patients from oral risperidone switches and naive individuals. Its bipolar approval is considered a meaningful advancement, though not expected to be revenue-significant.
Teva anticipates a significant opportunity for LAI olanzapine, particularly for switching patients from oral forms in the U.S. and Europe, and plans to leverage its existing commercial infrastructure for its launch.
The Phase III program for Duvakitug (TL1A), partnered with Sanofi, has been initiated for ulcerative colitis (SUNSCAPE) and Crohn's disease (STARSCAPE), with each study targeting 1,000 patients and designed for speed and patient needs, building on strong Phase II data.
Key pipeline updates include pre-IND work for a TSLP IL-13 directed therapy targeting IND submission by the end of 2025, and Phase III data for its ICS-SABA combination product expected in early 2027 for asthma.

1 day ago

Transcript

Teva Provides Updates on Key Products and Pipeline at Healthcare Conference

TEVA

New Projects/Investments

Guidance Update

Teva's Austedo is expected to reach $2.5 billion by 2027, with management finding the recent Medicare Part D negotiated discounts manageable.
The company reported 119% year-over-year TRx growth for Uzedy in Q3, with the product gaining traction from oral switchers and expanding into the bipolar indication.
Teva's Duvakitug (TL1A) has advanced to Phase 3 studies for ulcerative colitis and Crohn's disease, featuring a patient-centric design and strong Phase 2 results.
The pipeline includes a TSLP IL-13 directed therapy targeting an IND submission by the end of 2025 and an ICS-SABA combination product with Phase 3 data expected in early 2027.

1 day ago

Transcript

Teva Provides 2026 Financial Outlook and Pipeline Updates

TEVA

Guidance Update

Product Launch

Revenue Acceleration/Inflection

Teva projects EBITDA and free cash flow growth in 2026, despite an expected flat to slightly down revenue due to the loss of approximately $1 billion in generic Revlimid.
The company expects to achieve Investment Grade status in the second half of next year (2026), supported by debt reduction and accelerating EBITDA growth.
Key product developments include the planned launch of long-acting Olanzapine in Q3/Q4 next year (2026), targeting $1.5-$2 billion in sales, and the once-daily (XR) formulation of Austedo having intellectual property until 2040-2041.
Teva anticipates its EBITDA to grow beyond $6 billion and cash flow to reach approximately $2.7 billion in 2027 and over $3 billion in 2030, driven by new product launches and increasing gross margins.

1 day ago

Transcript

Teva Provides Updates on Product Pipeline and Financial Outlook

TEVA

Guidance Update

Product Launch

Revenue Acceleration/Inflection

Teva anticipates significant growth from its innovative product portfolio, including Austedo, projected to reach $2.5 billion by 2027 and $3 billion by 2030. The company also expects its long-acting olanzapine, launching in Q3/Q4 2026, to achieve $1.5-$2 billion in revenue.
For 2026, Teva expects to grow EBITDA, cash flow, and operating margin, despite the disappearance of approximately $1 billion in generic Revlimid revenue. Revenue is projected to be flat to slightly down for the full company.
The company aims to breach $6 billion in EBITDA and achieve cash flow of around $2.7 billion in 2027 and over $3 billion in 2030, driven by new product launches and gross margin expansion. Gross margin, currently around 54%, is expected to increase significantly.
Teva anticipates achieving investment grade status by the second half of 2026.

1 day ago

Transcript

Teva Discusses Product Pipeline, Financial Outlook, and Long-Term Growth

TEVA

Guidance Update

Product Launch

Revenue Acceleration/Inflection

Teva projects Austedo to reach $2.5 billion by 2027 and $3 billion by 2030, with the once-daily formulation's intellectual property extending to 2040/2041 and the BID formulation to 2033.
Despite an anticipated $1 billion reduction from generic Revlimid, Teva expects EBITDA and free cash flow to grow in 2026, with overall revenue projected to be flat to slightly down.
Teva aims for its long-acting olanzapine product, expected to launch in Q3 or Q4 next year, to generate $1.5 billion-$2 billion in revenue, targeting a label without a black box warning and no monitoring.
The company anticipates EBITDA to exceed $6 billion and expects to achieve investment grade by the second half of next year (2026).

1 day ago

Transcript

Teva Provides Update on Growth Strategy and Pipeline at Jefferies Conference

TEVA

Guidance Update

Product Launch

New Projects/Investments

Teva's CEO, Richard Francis, highlighted the company's "pivot to growth" strategy, reporting 11 consecutive quarters of growth driven by its innovative business, which grew 33% in Q3 to over $800 million in sales.
For 2026, Teva expects to grow EBITDA despite an anticipated $1 billion loss in Revlimid revenue, supported by its innovative portfolio and an organizational effectiveness plan targeting $700 million in savings by 2027, with two-thirds achieved by the end of 2026.
The company reiterated its $2.5 billion sales target for Austedo by 2027, with peak sales projected to exceed $3 billion.
Teva anticipates a late 2026 US launch for its long-acting olanzapine, which is expected to contribute to a 30% operating margin target for 2027 and a $5 billion+ innovative portfolio by 2030.
The late-stage pipeline includes planned launches for Darian in 2027, Emrysoma in 2028, and Duvakitug in 2029, with Duvakitug highlighted as a "game changer".

Nov 18, 2025, 11:00 AM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for TEVA PHARMACEUTICAL INDUSTRIES.

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