Teva Shares Innovative Pipeline Updates and Unveils Path to Future Growth at R&D Day, Targeting $6–7 Billion in Innovative Medicines Revenue by 2030

The Company has more than doubled revenue from innovative medicines since launching Pivot to Growth in 2023, demonstrating sustained execution and the growing strength of its high-velocity biopharma model

A live webcast of the event and presentation materials will be available on Teva's Investor Relations website at Events and Presentations, with the webcast beginning at 8:30 a.m. EST today and concluding at 12:30 p.m. EST.

A dedicated media Q&A with Teva leadership will follow the webcast. The session is intended for members of the media, who can register to participate here.

TEL AVIV, Israel and PARSIPPANY, N.J., Nov. 11, 2026 (GLOBE NEWSWIRE) --  Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today will host its first-ever R&D Day, outlining the next phase of the company's growth and its ambition to generate $6–7 billion in innovative medicines revenue by 2030. President and CEO Richard Francis, together with members of Teva's executive leadership and R&D teams, will highlight Teva's advancing pipeline, differentiated R&D model and the potential to launch one innovative medicine per year over the next five years.

“With our Pivot to Growth strategy, we set out to transform Teva,” said Richard Francis, Teva's President and CEO. “Since then, we have more than doubled our innovative medicines revenue, built a pipeline with more than $10 billion in peak sales potential, and returned to investment grade. We've made meaningful progress, driven by teams that are bringing together the speed and agility of a biotech with the scale and capabilities of a global biopharmaceutical company. Our R&D engine and commercial excellence are designed to translate proven science into new medicines, with the potential for one new launch annually through 2030, driving revenue growth, margin expansion and strong cash generation.”

Teva will provide updates on its differentiated R&D approach, late-stage growth drivers and early-stage pipeline assets, in-house antibody discovery capabilities, as well as its commercial and financial capabilities to support its upcoming next wave of innovation and longer-term shareholder value creation. The next wave of growth drivers supporting Teva's growth ambition beyond 2030:

• Anti-IL-15: Phase 2a study in Celiac disease met its primary endpoint, with a Phase 2b study expected to begin in the second half of 2027. In vitiligo, TEV-'408 is advancing into a Phase 2/3 study building on encouraging Phase 1b results. Teva is also evaluating the potential of TEV-'408 in additional indications, including alopecia.
• Anti-PD-1/IL-2 ATTENUKINE™: The investigational asset is currently in Phase 1 development in advanced cancer, with early efficacy signals and a favorable safety profile observed to date.
• Next Generation antibodies: Teva is advancing its early-stage pipeline with next-generation precision antibodies, including anti-TSLP/IL-13 and anti-TL1A/IL-23, applying its antibody-engineering capabilities and understanding of disease biology with a potential to build potential new treatments in in asthma and inflammatory bowel disease.

The presentation is grounded in the fundamentals that enable Teva's journey:

• Differentiated R&D approach: Focuses on proven science from internal or external sources enabling accelerated development. This aims to build assets with best-in-class potential, including a late-stage pipeline with a potential of more than $10 billion in combined peak sales, subject to regulatory approvals.
   
• Disciplined decision-making and capital allocation: Fast, data-driven decisions and allocating capital into high-return opportunities. Its targeted and strategic partnerships allow it to expand and accelerate its pipeline.
   
• Strong commercial capabilities: Deep patient and healthcare understanding, strong analytics and access experience, combined with expertise to drive launch excellence, build markets and help innovative medicines reach the patients who need them.
   
• Financial strength and capital allocation: In 2026, Teva has returned to an investment grade credit rating. Its disciplined and focused reinvestment funds the pipeline, launches and business development in areas of focus, to continue to create shareholder value.

This approach has already accelerated timelines across our late-stage pipeline, including WELTRUZATM going directly from Phase 1 into Phase 3, ecopipam receiving FDA priority review and advancing anti IL-15 in vitiligo as a seamless Phase 2/3 program later this year.

A biopharma company, by the numbers
Since launching its Pivot to Growth strategy in 2023, Teva has delivered on the commitments with Teva's revenue from innovative medicines more than doubling, with its three key innovative products AUSTEDO® (deutetrabenazine) AJOVY® (fremanezumab-vfrm) and UZEDY® (risperidone) expected to grow more than ~125% by the end of 2026. In addition, Teva has recently launched WELTRUZA™ (olanzapine).

Innovative medicines now make up more than 20% of Teva's revenue, gross margin has improved to ~55%1, and Teva has seven late-stage pipeline assets with high-value potential. The innovative pipeline has grown to ten programs, including two clinical antibodies discovered in-house. Teva's generics business has been stabilized in recent years, its revenue from biosimilars is expected to double from 2024 to 2026, and Teva has generated more than $6 billion in free cash flow from 2023 to 2025. Teva's return to investment grade credit ranking provides Teva the financial foundation to fund Teva's next phase.

Financial outlook through 2030:

• Innovative revenue potential of $6–7 billion by 2030
• Innovative gross margins target of above 75%, with the mix shift driving margin expansion
• Total revenue: mid-single-digit growth from 2026 to 2030
• Free cash flow target of more than $3.5 billion by 2030
• Leverage: a clear path to net debt to adjusted EBITDA of 2.0x by the end of 2027
• Capital allocation: a disciplined framework funds the pipeline, launches and business development, along with shareholder returns

Presenters include:

• Richard Francis, President and Chief Executive Officer
• Eric Hughes, MD, PhD, EVP, Global R&D and Chief Medical Officer
• Steffen Nock, PhD, Chief Scientific Officer and Head of Global Discovery and Human Translational Science
• David Gardiner, MD, SVP, Head of Innovative Medicines and Clinical Development
• Chris Fox, EVP, U.S. Commercial and Global Innovative Medicines
• Eli Kalif, EVP, Chief Financial Officer

Webcast and materials
A live webcast and the presentation materials will be available on Teva's Investor Relations website at ir.tevapharm.com/Events-and-Presentations. An archived version will be posted within 24 hours of the event. An interactive digital magazine and press kit is available on tevapharm.com.

Pipeline products are investigational and subject to clinical development and regulatory approval. Peak sales figures are non-risk-adjusted and indicative. Financial measures other than revenue are non-GAAP.

About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a global biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva's commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars, and pharmacy brands worldwide, Teva is dedicated to addressing patients' needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.

Teva Cautionary Note Regarding Forward-Looking Statements
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. Important factors that could cause or contribute to such differences include risks relating to: our ability to become a high-velocity biopharmaceutical company and to achieve the potential revenue growth from innovative medicines; our ability to deliver on the ambitions and targets for the development of our pipeline assets; our ability to achieve the financial targets for 2030 included in this press release and in the R&D Day presentation; our ability to successfully compete in the marketplace, including our ability to develop and commercialize additional pharmaceutical products; 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, and to sustain and focus our portfolio of generic medicines and to execute on our organizational transformation and to achieve expected cost savings; 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 geopolitical, economic conditions and other macroeconomic developments and the governmental and societal responses thereto, and our exposure to changes in international trade policies; and other factors discussed in our Quarterly Report on Form 10-Q for the third quarter of 2026 and in our Annual Report on Form 10-K for the year ending December 31, 2025, including in the sections captioned “Risk Factors” and “Cautionary Note Regarding 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.

Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures as defined by SEC rules. These non-GAAP financial measures, including, but not limited to, non-GAAP operating margin, non-GAAP gross profit margin, adjusted EBITDA and free cash flow, are presented in order to facilitate investors' understanding of our business. Please see our press release reporting our financial results for the third quarter of 2026, as well as our latest Annual Report on Form 10-K filed with the SEC, for a reconciliation of the non-GAAP financial measures to their nearest GAAP equivalents. Management believes that such non-GAAP financial measures provide useful information to investors to facilitate their understanding of our business because the non-GAAP financial measures are used by Teva's management and board of directors, in conjunction with other performance metrics, to evaluate the operational performance of the company, to compare our results against the company's work plans and budgets, and ultimately to evaluate the performance of management; the company's annual budgets are prepared on a non-GAAP basis; and senior management's annual compensation is derived, in part, using non-GAAP measures. Investors should consider the non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. We are not providing the most comparable forward-looking GAAP measures for non-GAAP metrics included in our financial outlook or a quantitative reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measures because we are unable to predict with reasonable certainty the ultimate outcome of certain significant items including, but not limited to, the amortization of purchased intangible assets, legal settlements and loss contingencies, impairment of long-lived assets and goodwill impairment, without unreasonable effort. These items are uncertain, depend on various factors, and could be material to our results computed in accordance with GAAP. Revenues and CAPEX are presented on a GAAP basis.

Teva Media Inquiries: TevaCommunicationsNorthAmerica@tevapharm.com
Teva Investor Relations Inquiries: TevaIR@Tevapharm.com

1 As of Q3 2026