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Posted by Defense World Staff on Jul 24th, 2026

Bank of New York Mellon Corp cut its stake in shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA – Free Report) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,794,432 shares of the company’s stock after selling 37,310 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.16% of Teva Pharmaceutical Industries worth $54,048,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in shares of Teva Pharmaceutical Industries by 27.3% in the 4th quarter. Global Retirement Partners LLC now owns 1,360 shares of the company’s stock valued at $42,000 after purchasing an additional 292 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Teva Pharmaceutical Industries by 2.1% in the 4th quarter. Captrust Financial Advisors now owns 14,715 shares of the company’s stock valued at $459,000 after purchasing an additional 302 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in shares of Teva Pharmaceutical Industries by 6.3% during the 4th quarter. Banque Cantonale Vaudoise now owns 5,133 shares of the company’s stock worth $160,000 after purchasing an additional 306 shares during the last quarter. Ethic Inc. lifted its position in shares of Teva Pharmaceutical Industries by 1.8% during the 4th quarter. Ethic Inc. now owns 18,127 shares of the company’s stock worth $566,000 after purchasing an additional 325 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Teva Pharmaceutical Industries by 53.8% during the fourth quarter. Allworth Financial LP now owns 941 shares of the company’s stock worth $29,000 after purchasing an additional 329 shares in the last quarter. Institutional investors and hedge funds own 54.05% of the company’s stock.

Insider Activity In other Teva Pharmaceutical Industries news, EVP Richard Daniell sold 30,000 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $35.40, for a total transaction of $1,062,000.00. Following the transaction, the executive vice president owned 55,755 shares of the company’s stock, valued at $1,973,727. The trade was a 34.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amir Weiss sold 10,679 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $36.00, for a total value of $384,444.00. Following the completion of the sale, the chief accounting officer owned 20,016 shares of the company’s stock, valued at approximately $720,576. This represents a 34.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 465,931 shares of company stock worth $16,332,989 over the last ninety days. 0.54% of the stock is owned by corporate insiders.

Teva Pharmaceutical Industries Price Performance Shares of NYSE:TEVA opened at $31.16 on Friday. The company’s fifty day moving average price is $33.36 and its 200 day moving average price is $32.69. Teva Pharmaceutical Industries Ltd. has a 12 month low of $14.99 and a 12 month high of $37.35. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a market capitalization of $35.82 billion, a P/E ratio of 23.43, a P/E/G ratio of 3.18 and a beta of 0.86.

Teva Pharmaceutical Industries (NYSE:TEVA – Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 earnings per share (EPS) for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. The company had revenue of $3.98 billion during the quarter. As a group, sell-side analysts predict that Teva Pharmaceutical Industries Ltd. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets Several equities analysts recently commented on the company. Wall Street Zen lowered Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Truist Financial upped their price objective on Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Friday, July 17th. JPMorgan Chase & Co. raised their target price on Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Piper Sandler restated an “overweight” rating and set a $42.00 target price (up from $41.00) on shares of Teva Pharmaceutical Industries in a research note on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.78.

View Our Latest Research Report on Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Company Profile (Free Report)

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.

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MarketBeat Week in Review – 02/03 - 02/07Teva Pharmaceutical Industries NYSE: TEVA said its internally developed anti-IL-15 antibody produced encouraging 24-week efficacy results in a phase 1b proof-of-concept study for vitiligo, as the company highlighted the program as part of its broader shift toward a biopharma-focused growth strategy.

During a conference call, President and CEO Richard Francis called the data “a milestone” in Teva’s “Pivot to Growth” plan and said 2026 is expected to include eight key events for the company, up from a prior expectation of seven following the addition of an ecopipam NDA filing.

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Teva Pharma: Why This Generic Drug Giant Is a Smart Buy NowFrancis said Teva’s pipeline includes several programs that the company believes could each become $1 billion products in their respective indications, including anti-IL-15, duvakitug, emricasan, DARI, ecopipam and olanzapine-related programs. He said Teva expects its innovative portfolio to generate $3.5 billion of revenue in 2026.

Vitiligo Study Shows Facial and Total Body Responses Eric A. Hughes, Teva’s EVP of Global R&D and Chief Medical Officer, said vitiligo is an autoimmune disease in which an immune reaction destroys melanocytes, leading to loss of pigmentation. He said the disease affects about 0.5% to 2% of the global population and carries a psychological burden, including anxiety, depression and social isolation.

2 Generic Drug Stocks Ready to Surge in 2025Hughes said the only FDA-approved treatment currently available is a topical therapy for patients with less than 10% body surface area involvement, leaving a need for systemic options that can treat the whole body.

The phase 1b study evaluated Teva’s anti-IL-15 antibody in approximately 38 patients. Participants received one subcutaneous dose at day zero and another at week 12, with efficacy measured at 24 weeks. Hughes said 66% of patients in the study had skin involvement greater than 10% of their body surface area.

Teva reported the following 24-week results after two doses:

42% of patients achieved F-VASI50, representing at least a 50% improvement in facial vitiligo. 21% of patients achieved F-VASI75, representing at least a 75% improvement in facial vitiligo. 7% of patients achieved T-VASI50, representing at least a 50% improvement in total body vitiligo. 75% of patients reported improvement in facial skin using the facial Patient Global Impression of Change score, with half of those reporting “much” to “very much” improvement. 55% of patients reported improvement in total skin using the total Patient Global Impression of Change score. Hughes said the patient-reported outcomes were particularly meaningful because patients monitor their skin daily and may be strongly affected by changes in appearance.

Company Highlights Quarterly Dosing Potential Hughes said Teva believes its anti-IL-15 antibody is differentiated by its potency, long half-life and target engagement. He described the molecule as “Teva-born” and said it was created by the same internal team that developed duvakitug.

According to Hughes, the antibody has a half-life of about 38 days. He said the company observed rapid suppression of free IL-15 levels in serum within one or two days, and at the top dose, suppression below the limit of quantitation extended to about 80 to 90 days. Based on those data, Hughes said dosing once per quarter is a “strong possibility.”

Hughes said the drug has been “very well tolerated” to date, with no safety signals seen so far. In response to an analyst question, he said Teva has followed patients from earlier studies for extended periods, including out to about 400 days in some phase 1 work, and has not seen adverse events associated with IL-15 rebound as levels return to baseline.

Teva Compares Data With Oral JAK Programs Hughes compared the phase 1b results with published data from upadacitinib, an oral JAK therapy that he said recently received a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use.

He said Teva’s F-VASI50 result of 42% compared with 38% and 39% in the upadacitinib data he referenced. Teva’s F-VASI75 result of 21% compared with 19% and 14%, while its T-VASI50 result of 7% compared with 6% and 11%.

Hughes said Teva views the comparison as encouraging, particularly because its product is being developed as a subcutaneous injection given once every quarter. He contrasted that with daily oral JAK therapy, which he said carries a black box warning.

Phase 2 Plans and Additional Indications Teva said it has already met with the FDA and is incorporating the agency’s feedback into a phase 2 study expected to begin this year. Hughes said the company plans dose-ranging work in phase 2b and is discussing a seamless study design that could allow the program to move efficiently toward phase 3.

Hughes said Teva expects facial VASI and total VASI endpoints to be used in later-stage development, with baseline criteria likely to include greater than 0.5 on facial VASI and greater than five on total VASI. He also said Teva will continue monitoring phase 1b subjects out to 80 weeks.

Teva also emphasized potential applications for anti-IL-15 beyond vitiligo. Hughes said IL-15 may be relevant in alopecia areata, celiac disease, eosinophilic esophagitis and atopic dermatitis. The company expects proof-of-concept data from a phase 2a celiac disease study in the second half of the year.

That celiac study, Hughes said, includes about 50 patients in a placebo-controlled gluten challenge design. Patients receive either active treatment or placebo, then undergo a gluten diet challenge, with biopsies used to evaluate effects on gut histology. Hughes said the crypt depth-to-villus height ratio will be the most important readout.

Francis closed the call by saying the anti-IL-15 vitiligo data represent the second of eight expected milestones for Teva this year, with additional pipeline updates anticipated in the coming months.

About Teva Pharmaceutical Industries NYSE: TEVATeva Pharmaceutical Industries Ltd. NYSE: TEVA is an Israeli multinational pharmaceutical company and one of the world's largest manufacturers of generic medicines. The company's core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva's product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Choosing between Novartis AG (NVS 0.66%) and Teva Pharmaceutical Industries (TEVA 2.00%) requires weighing the stability of an established innovator against the potential of a generic specialist undergoing a significant turnaround.

Novartis is a powerhouse in the drug development world, prioritizing high-margin innovative treatments for complex diseases. In contrast, Teva is a leader in the generic market and is currently pivoting toward biosimilars and specific innovative drugs to rebuild its profitability and reduce its heavy debt load.

The case for Novartis AGNovartis is an innovative medicines company focused on researching and marketing prescription treatments for complex diseases. The business prioritizes key therapeutic areas such as oncology, neuroscience, and cardiovascular health across 118 countries. With a workforce of approximately 77,000 employees, it targets global health needs through high-value medicine development.

As one of the prominent pharmaceutical stocks, Novartis saw revenue reach nearly $56.7 billion in FY 2025. This represented a revenue growth rate of nearly 10% compared to the previous year. The company reported net income of nearly $14 billion.

As of its December 2025 balance sheet, the debt-to-equity ratio is approximately 0.8x. This ratio compares total debt to shareholder equity, helping investors understand how much a company relies on borrowed money. The company generated free cash flow of nearly $17.7 billion, the cash remaining after paying for operating costs and capital expenditures. The current ratio is about 1.1x, indicating the ability to cover short-term obligations with assets such as cash and inventory.

The case for Teva Pharmaceutical Teva Pharmaceutical Industries is a global leader in both generic and innovative medicines, operating across 57 different markets. The company maintains a concentrated customer base, relying on a small group of large wholesalers and retail chains for a significant portion of its sales. Customer concentration like this adds a layer of risk to the business, as these buyers possess substantial bargaining power.

In FY 2025, revenue reached nearly $17.3 billion, reflecting a revenue growth rate of approximately 4.9%. After several years of reporting net losses, the company achieved a net income of $1.4 billion for the year.

Based on its December 2025 balance sheet, the debt-to-equity ratio is roughly 2.2x. This indicates a higher level of debt relative to shareholders’ equity than many industry peers. The current ratio is about 2x. Free cash flow for the year was approximately $1.2 billion, providing the company with some liquidity to fund its ongoing operations and debt obligations.

Risk profile comparisonNovartis AG faces the constant challenge of patent expirations, which allow cheaper versions of its drugs to enter the market. The company must also navigate the inherent uncertainty of clinical trials, in which failing to demonstrate a drug's safety or efficacy can lead to significant financial losses. Additionally, competition from other large innovators like Roche Holding creates pressure to maintain a high pace of research and development.

Teva faces material pricing pressures from the U.S. Inflation Reduction Act, which could impact the pricing of its key innovative assets. The company also remains involved in ongoing legal and compliance matters, including antitrust actions and financial obligations arising from past opioid litigation. Furthermore, executing its strategy to divest its active pharmaceutical ingredient business while competing with rivals such as Viatris (VTRS 0.81%) creates significant operational complexity.

Valuation comparisonTeva Pharmaceutical Industries appears more attractive for value seekers due to its lower P/S ratio, while the higher Forward P/E of Novartis AG reflects its superior profitability.

MetricNovartis AGTeva Pharmaceutical IndustriesSector BenchmarkForward P/E17.6x17.0x389.1xP/S ratio5.3x2.9xSector benchmark uses the SPDR XLV sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Teva reported first-quarter 2026 results that bested expectations, with revenue of almost $4 billion and net income of $369 million. Teva has some very well-selling generics, including Ajovy, a treatment for migraines; Uzedy, a schizophrenia treatment; and Austedo, which treats Huntington’s disease. As a group, they grew more than 40% in local currencies in the first quarter of 2026. Still, Wall Street sees Teva’s sales declining to $16.6 billion in 2026, while net income is projected to grow to $1.54 billion. Teva has a strong drug pipeline — it has had its own generic GLP-1 approved, similar to Novo’s Saxenda, and soon that will be joined by olanzapine, which treats schizophrenia. Those and other drugs are expected to get Teva back to top-line growth for 2027.

Novartis saw its first-quarter volume rise 14% to $13.5 billion with net income of almost $3.2 billion. Generics are clipping growth a little, but Novartis has a strong development pipeline, led by remibrutinib, a treatment for certain autoimmune disorders that could launch in late 2026 or early 2027. Remibrutinib is expected to be a blockbuster, with lifetime sales of perhaps $4 billion.

Each business is on the right track, but Teva is more attractive for long-term investors given its better price-to-sales and forward P/E ratios.

Teva secures exclusive global rights to commercialize Polpharma Biologics’ biosimilar candidate to Ocrevus® (ocrelizumab), including both intravenous and subcutaneous formulations. Agreement advances Teva’s Pivot to Growth strategy by expanding its biosimilars pipeline through strategic collaborations.Agreement reflects both companies’ commitment to broadening access to biologic medicines.
TEL AVIV, Israel and ZUG, Switzerland, July 09, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals International GmbH, a subsidiary of Teva Pharmaceutical Industries Ltd (NYSE: and TASE: TEVA) and Polpharma Biologics International AG today announced a global licensing agreement granting Teva exclusive rights to commercialize both formulations of Polpharma Biologics’ proposed biosimilar to Ocrevus®1 (ocrelizumab), upon regulatory approval. This strategic agreement is expected to combine Polpharma Biologics’ proven biosimilar development expertise with Teva’s commercial footprint and capabilities.

“This agreement reflects our focus on pushing high-quality biologics to the finish line efficiently and at scale,” said Anjan Selz, Chief Executive Officer of Polpharma Biologics International AG. “Teva brings reach, discipline and real commercial strength to our strategic collaboration. Combining its global footprint with our technical and development capabilities creates a clear path to getting this medicine to patients who need more treatment options.”

Under the terms of the agreement, Polpharma Biologics retains full responsibility for the development and manufacturing of the biosimilar candidate. Teva will be responsible for regulatory submissions and, upon approval, commercialization of the intravenous and subcutaneous formulations in the United States, Europe, Brazil, Canada, Australia, New Zealand, Israel and Turkey.

“This agreement is aligned with Teva’s Pivot to Growth strategy and our focus on expanding our biosimilars pipeline. With our global commercial footprint and deep expertise in complex medicines, we are well positioned to help bring this biosimilar candidate to patients,” said Yolanda Tibbe, Vice President, Global Head of Biosimilars at Teva.

This strategic agreement reinforces both organizations’ commitment to broadening access to biologic medicines while promoting the long-term sustainability of healthcare systems.

About ocrelizumab
Ocrelizumab is a humanized monoclonal antibody designed to target CD20-positive B cells, which are believed to play a role in the autoimmune activity associated with multiple sclerosis. Ocrevus® (ocrelizumab) is indicated for the treatment of relapsing forms of multiple sclerosis and primary progressive multiple sclerosis. In the U.S., the intravenous formulation is marketed as Ocrevus®, while the subcutaneous formulation is marketed separately as Ocrevus Zunovo® (ocrelizumab and hyaluronidase-ocsq). In the EU, both formulations carry the single brand name Ocrevus®.

About Multiple Sclerosis
Multiple sclerosis is a chronic, unpredictable and progressive disease of the central nervous system, which includes the brain and spinal cord. In MS, the loss of myelin, the protective sheath surrounding nerve fibers, disrupts the transmission of electrical signals to and from the brain, leading to a wide range of symptoms.

MS affects people differently. Symptoms can fluctuate, with periods of worsening (relapses) followed by partial or full recovery (remission). Over time, some patients may also experience a gradual progression of disability.

Common symptoms include fatigue, weakness, numbness or tingling, walking difficulties, spasticity, dizziness, and vision problems, among others.

About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative 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.

About Polpharma Biologics
Polpharma Biologics International AG is a biopharmaceutical company focused on development and manufacturing of biosimilars for supply to global markets. We manage the entire value chain: from product selection and investment allocation, through program execution to asset monetization, ensuring fast progress from idea to launch in strong collaboration with our global partners.

Our international team of senior experts has proven experience in program leadership, regulatory strategy, CMC integration, device development, clinical oversight, and quality assurance. Working with trusted CDMOs and CROs, we deliver end-to-end biosimilars, from cell line to finished product, across a range of major therapeutic areas. Our commercial partners ensure access for patients to these medicines worldwide.

Our mission is to accelerate access to biologics. To fulfill that mission, we maintain a robust, expanding pipeline of biosimilars in development. www.polpharmabiologics.com

Media Contact – Polpharma Biologics
Stephanie Deitzer
Lead Transformation & Communications
Polpharma Biologics International AG
[email protected]
+41 78 600 53 59

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 successfully execute our collaboration agreement with Polpharma Biologics for the commercialization of its biosimilar candidate to ocrelizumab, upon regulatory approval; our ability to successfully compete in the marketplace, including our ability to develop and commercialize additional pharmaceutical products; our ability to successfully execute on 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; our significant indebtedness; our business and operations in general; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2026 and in our Annual Report on Form 10-K for the year ended December 31, 2025, 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.

1 Ocrevus® and Ocrevus Zunovo® are registered trademarks of Genentech, Inc. and/or F. Hoffmann-La Roche Ltd.

TEL AVIV, Israel and PARSIPPANY, N.J., June 18, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) announced today that it will issue a press release on its second quarter 2026 financial results on Wednesday, July 29, 2026, at 7:00 a.m. ET. Following the release, Teva will conduct a conference call and live webcast on the same day, at 8:00 a.m. ET.

In order to participate, please register in advance here to obtain a local or toll-free phone number and your personal pin.

A live webcast of the call will be available on Teva's website at: https://ir.tevapharm.com/Events-and-Presentations.

Following the conclusion of the call, a replay of the webcast will be available within 24 hours on Teva's website.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative 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.

Cautionary Note Regarding Forward-Looking Statements

This Document and the presentation at the conference call may contain 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 successfully compete in the marketplace; 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; our significant indebtedness; our business and operations in general; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2026, and in our Annual Report on Form 10-K for the year ended December 31, 2025, 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 Inquiries
[email protected]

Teva Pharmaceuticals (TEVA +3.14%) is morphing from a generic drug maker into one that develops more innovative -- and profitable -- drugs. The stock is up more than 10% this year, and more than 95% over the past year.

On June 8, the company released data regarding its therapies, Austedo and Austedo XR (extended relief), at the Psych Congress Elevate. The three-year study showed that while more than 50% of tardive dyskinesia patients saw symptom improvement in controlling involuntary movements within 15 weeks, an additional 23% achieved success with long-term treatment.

This means that Austedo XR may be able to expand beyond its approved use to treat the involuntary movements (chorea) of Huntington's disease. The company also released a study on June 5 showing that 60% to 71% of Huntington's disease chorea patients experienced improvement with Austedo or Austedo XR.

This data provides doctors with strong therapeutic justification to prescribe Austedo or Austedo XR over competitors, securing market share for years to come. Here's one more reason to buy Teva stock, and one reason not to.

Image source: Getty Images.

The company's pivot is becoming more profitable In the first quarter of 2026, the company reported revenue of $4 billion, up 2% year over year. Its innovative brands, Austedo, migraine med Ajovy, and long-acting schizophrenia therapy Uzedy, together grew revenue by 41% over the same period last year. Earnings per share (EPS) rose 72% year over year, to $0.31. The key point is that the company's new drugs are offsetting its declining generic sales.

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Meanwhile, the company's application for a long-acting version of olanzapine for once-monthly treatment of schizophrenia is currently under review by the Food and Drug Administration (FDA).

This structural pivot expanded Teva's non-GAAP gross profit margin to 52.9% in Q1. The company is generating healthy free cash flow, estimated at $2 billion to $2.4 billion this year, which is being actively used to pay down its heavy debt load.

In April, the Israeli pharma struck a deal to acquire Emalex Biosciences for $700 million upfront. This included ecopipam, a dopamine D1 receptor antagonist that's en route to an FDA submission for Tourette syndrome this year. The drug has already received FDA fast-track and orphan drug designations.

Disappointing guidance, supply issues Teva's overall full-year 2026 financial guidance disappointed Wall Street. The company projected total 2026 revenue of $16.4 billion to $16.8 billion -- representing flat to slightly negative growth compared to 2025. That helps explain why the stock has fallen more than 3% since Teva released its Q1 earnings on April 29.

This stagnation is primarily due to intense generic competition eating into other parts of the portfolio (such as the generic version of the cancer drug Revlimid) and a drop-off in one-time milestone payments from partnerships (such as Sanofi). Because Austedo XR is carrying so much weight on its shoulders, any future slowdown in its adoption could leave Teva with very few places to hide, capping the stock's near-term upside until its next-generation immunology pipeline begins to commercialize in 2027.

The other concern is that ongoing conflicts in the Middle East and the blockade of the Strait of Hormuz have disrupted the movement of active pharmaceutical ingredients, and rising energy costs make it more expensive to ship drugs.

It's still a company headed in the right direction The company's move to pursue growth is obviously paying off, and its innovative drugs target conditions with unmet needs, giving them less competition.

Teva received FDA approval in March for biosimilar Ponlimsi to treat osteoporosis and bone loss. The company's pipeline includes six additional biosimilars that are expected to receive regulatory decisions this year. One of the most promising is omalizumab, a biosimilar to Xolair, made by Novartis (NVS +0.79%) and Roche (RHHBY +2.50%) to treat chronic hives.

The stock is trading at less than 15 times forward earnings, and considering its potential catalysts this year, that still seems like a bargain.

Key Takeaways Teva is shifting toward branded medicines as a higher-margin growth driver alongside generics.Sales of Austedo, Ajovy and Uzedy rose 41% year over year to $838 million in first-quarter 2026.Teva expects branded products to generate more than $5 billion in revenues by 2030. Teva Pharmaceutical Industries Limited (TEVA - Free Report) has, for long, been one of the world’s largest generic drug companies. However, Teva is gradually transitioning from a pure-play generics company to a more diversified biopharma company. Its biggest growth driver now is its higher-margin branded/innovative drugs rather than traditional generics.

The company's strategic transformation accelerated under its "Pivot to Growth" initiative. Management has focused on strengthening the branded drugs segment by investing in research and development, pursuing targeted acquisitions and partnerships, and expanding its commercial capabilities in specialty therapeutic areas. Rather than attempting to compete across numerous disease categories, Teva has concentrated on areas where it possesses scientific expertise and can establish meaningful market positions, including neuroscience, immunology and respiratory diseases.

The company is seeing continued market share growth of its newest branded drugs, Austedo, Ajovy and Uzedy. Collectively, sales of Austedo, Ajovy and Uzedy rose 41% year over year to $838 million in the first quarter of 2026.

Global sales of Austedo, one of the major pillars of Teva's branded business, rose 41% to $578 million in the first quarter, backed by strong prescription growth. The drug is approved for movement disorders associated with conditions such as tardive dyskinesia and Huntington's disease. Teva expects Austedo annual revenues to be more than $2.5 billion by 2027 and exceed $3 billion by 2030. The Austedo franchise got a boost from the launch of Austedo XR, a new once-daily formulation of Austedo. Teva launched Austedo in European markets in 2026, which should further contribute to growth.

Global revenues of its migraine drug, Ajovy, rose 35% (constant currency) year over year to $196.0 million in the first quarter. Although Teva is experiencing slightly slower growth of Ajovy in the U.S. market, it anticipates sales to benefit from continued patient growth and launches in additional countries in Europe and international markets. In 2026, Ajovy sales are expected to be in the range of $750 million to $790 million.

Another important branded asset is Uzedy, a long-acting injectable treatment for schizophrenia. Management believes Uzedy has substantial long-term potential because long-acting injectable antipsychotics are increasingly being adopted in psychiatric care. Sales of Uzedy rose 62% to $63 million in the first quarter, with total sales expected to be between $250 million and $280 million in 2026.

The company has also made decent progress with its branded pipeline, which includes olanzapine, a long-acting subcutaneous injectable (LAI) for treating schizophrenia and duvakitug, its anti-TL1A therapy for inflammatory bowel diseases (IBD), ulcerative colitis (UC) and Crohn’s disease (CD). Teva has partnered with Sanofi (SNY - Free Report) for duvakitug to maximize the value of the asset. Teva and Sanofi will equally share the development costs globally. While olanzapine LAI is under review in the United States and the EU, Sanofi is conducting phase III studies on duvakitug.

In April, Teva announced a definitive agreement to acquire Emalex, including its lead asset, ecopipam. The acquisition closed in June. Ecopipam is a late-stage, first-in-class therapy for pediatric Tourette syndrome, which is a natural fit for Teva’s central nervous system franchise. Earlier this month, Teva filed a new drug application to the FDA seeking approval for ecopipam.

While generics remain an important part of Teva's business and continue to generate substantial revenues and cash flows, management's strategy over the past several years has increasingly centered on building a sustainable portfolio of innovative medicines that can drive higher growth and improve profitability. Branded medicines are expected to become increasingly important contributors to Teva's long-term growth because they generally offer significantly higher margins and longer periods of market exclusivity than generic products.

In 2022, only about 9% of Teva’s revenues came from its branded drugs, which has now increased to more than 20%. Teva anticipates generating more than $5 billion in revenues from its branded products by 2030.

If Teva continues to successfully commercialize its existing branded products and advance its pipeline, the company could evolve into a more diversified pharmaceutical company with a healthier balance between stable generics operations and higher-growth innovative medicines.

TEVA’s Price, Valuation & Estimate DiscussionTeva stock has risen 3.2% so far this year against the industry’s 5.1% decrease.

Image Source: Zacks Investment Research

The stock is trading at an attractive valuation relative to the industry. Going by the price/earnings ratio, the company shares currently trade at 11.82 on a forward 12-month basis, lower than 14.52 for the industry. However, the stock is trading above its 5-year mean of 4.65.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for earnings has declined from $2.69 per share to $2.33 per share for 2026 over the past 60 days and from $3.19 per share to $3.16 per share for 2027.

Image Source: Zacks Investment Research

TEVA’s Zacks Rank & Stocks to ConsiderTeva has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Indivior Pharmaceuticals (INDV - Free Report) and Immunocore (IMCR - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, earnings estimates for Indivior Pharmaceuticals have risen from $3.33 per share to $4.05 per share, while those for 2027 have increased from $3.66 per share to $4.27 per share. INDV shares have risen 6.8% year to date.

Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.

Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss of 88 cents per share to earnings of 6 cents per share. For 2027, earnings estimates have increased from 24 cents per share to 87 cents per share over the same timeframe. IMCR shares have lost 15.4% year to date.

Immunocore’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 46.66%.

Once upon a time, Teva Pharmaceutical Industries Ltd. (TEVA +0.20%) was a stock that many investors didn't want to touch with a 10-foot pole. The pharmaceutical company faced legal challenges over its opioid drugs. Its debt load was staggering. Sentiment was overwhelmingly negative.

But there's a much different story for Teva these days. The pharma stock has soared more than 100% over the last 12 months. Wall Street thinks that Teva has even more room to run. Are analysts right to be bullish? I think so.

Image source: Getty Images.

Of the 13 analysts surveyed by S&P Global (SPGI +1.52%) in May, 12 rated Teva as a "buy" or "strong buy." The lone outlier recommending holding the stock. The consensus 12-month price target reflects a potential upside of around 11%.

Why is Wall Street still bullish about Teva after its impressive gains? For one thing, the company's branded portfolio is firing on all cylinders. Huntington's chorea and tardive dyskinesia drug Austedo is leading the way, with first-quarter sales jumping 41% year over year to $578 million.

Teva has also paid down much of its debt. Its financial leverage stood at 67% as of March 31, 2026, a significant improvement from the past. The company is cutting costs, too. Teva expects to realize around $470 million of net savings this year from its transformation initiatives.

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Analysts recognize the promise of Teva's pipeline. The U.S. Food and Drug Administration (FDA) is set to make a decision later this year on approval of olanzapine extended-release injectable suspension (TEV-'749) for the treatment of schizophrenia in adults. Evercore ISI's (EVR +0.64%) Umer Raffat thinks the potential FDA approval of olanzapine is Teva's "most meaningful catalyst."

Furthermore, Teva's valuation still looks attractive even after its tremendous performance over the last 12 months. The stock trades at only 13 times forward earnings, well below the average forward earnings multiple of 16.5 for the healthcare sector. You could argue that's value stock territory.

Teva's turnaround is real There's no question at this point that Teva's turnaround is real. And Wall Street believes the stock has more gas in the tank.

To be sure, Teva still faces challenges. Some litigation uncertainty lingers. The company's generic-drug business continues to face pricing pressure. Pipeline setbacks are a perpetual threat.

However, Teva is no longer a company in crisis. Its revenue and profits are growing. Its balance sheet is stronger. Most stories that begin with "once upon a time" have a happy ending. This one could, too, if analysts are right.

Keith Speights has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Evercore and S&P Global. The Motley Fool has a disclosure policy.

TEL AVIV, Israel, May 18, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today announced that Fitch Ratings Agency ("Fitch") has raised the Company's corporate credit rating to Investment Grade BBB-, with a stable outlook, from BB.

The olanzapine long-acting injectable (TEV-’749) is designed to deliver the efficacy of olanzapine in a subcutaneous formulation1 administered every four weeks.If approved, TEV-‘749 could help fill a significant unmet need in available schizophrenia treatment options by addressing the lack of a viable long-acting olanzapine formulation.Teva is committed to advancing this innovative treatment option, strengthening its scientific leadership in complex neurological conditions as part of its Pivot to Growth strategy. TEL AVIV, Israel and PARIS, May 21, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals International GmbH, a subsidiary of Teva Pharmaceutical Industries Ltd. (NYSE: and TASE: TEVA) and Medincell (Euronext: MEDCL), today announced that the European Medicines Agency (EMA) has accepted the Marketing Authorization Application (MAA) for olanzapine long-acting injectable (TEV-‘749) for the treatment of schizophrenia in adults. TEV-‘749 aims to address treatment adherence in real-world settings and contribute to long-term disease management in people living with schizophrenia.1

“Treatment adherence remains a challenge for people living with schizophrenia including those who rely on oral forms of Olanzapine. TEV-‘749, our investigational subcutaneously delivered olanzapine LAI, has the potential to help provide stability by offering the proven efficacy and safety of olanzapine as a once-every four weeks treatment,” said Eric Hughes, MD, PhD, Executive Vice President, and Chief Medical Officer at Teva. “For too long, treatment options have been limited by the lack of a viable long-acting olanzapine formulation, and we look forward to working with the EMA to help address this gap in care.”

“Daily oral olanzapine is one of the most commonly prescribed antipsychotics in Europe for people living with schizophrenia, and long-acting injectables are already well established in managing serious psychiatric conditions across the region,” said Christophe Douat, CEO of Medincell. “We believe a practical long-acting olanzapine option that fits more naturally into patients’ lives can help address a real and persistent need in schizophrenia.”

Schizophrenia affects 0.3 - 1.5% of the population in Europe2, yet those living with the condition often face profound challenges of social isolation, unstable employment 3, and a life expectancy reduced by 15–20 years 4.

TEV-‘749 is not approved by any regulatory authority worldwide at this time. The submission to the EMA is supported by an extensive clinical development program, including the Phase 3 SOLARIS study. Across clinical development, TEV-‘749 demonstrated efficacy, a systemic safety profile, and exposure consistent with oral olanzapine.

TEV-‘749 utilizes SteadyTeq™, a copolymer technology proprietary to Medincell that provides a controlled, steady, prolonged release of olanzapine.

About Schizophrenia
Schizophrenia is a chronic, progressive and severely debilitating mental disorder that affects how one thinks, feels and acts.2 Patients experience an array of symptoms, which may include delusions, hallucinations, disorganized speech or behavior and impaired cognitive ability.2,3,4 Approximately 1% of the world’s population will develop schizophrenia in their lifetime, and 0.3 - 1.5% of the population in Europe are currently diagnosed with the condition.3,4 Although schizophrenia can occur at any age, the average age of onset tends to be in the late teens to the early 20s for men, and the late 20s to early 30s for women.4 The long-term course of schizophrenia is marked by episodes of partial or full remission broken by relapses that often occur in the context of psychiatric emergency and require hospitalization.4 Approximately 80% of patients experience multiple relapses over the first five years of treatment, and each relapse carries a biological risk of loss of function, treatment refractoriness, and changes in brain morphology.5,6,7 Patients are often unaware of their illness and its consequences, contributing to treatment nonadherence, high discontinuation rates, and ultimately, significant direct and indirect healthcare costs from subsequent relapses and hospitalizations.2,3,4,5,6,7

About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative 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 Media Inquiries:
[email protected]
Teva Investor Relations Inquiries:
[email protected]

About Medincell

Medincell is a clinical- and commercial-stage biopharmaceutical licensing company developing long-acting injectable drugs in many therapeutic areas. Our innovative treatments aim to guarantee compliance with medical prescriptions, to improve the effectiveness and accessibility of medicines, and to reduce their environmental footprint. They combine active pharmaceutical ingredients with our proprietary BEPO® technology which controls the delivery of a drug at a therapeutic level for several days, weeks or months from the subcutaneous or local injection of a simple deposit of a few millimeters, entirely bioresorbable. The first treatment based on BEPO® technology, intended for the treatment of schizophrenia, was approved by the FDA in April 2023, and is now distributed in the United States by Teva under the name UZEDY® (BEPO® technology is licensed to Teva under the name SteadyTeq™). We collaborate with leading pharmaceutical companies and foundations to improve global health through new treatment options. Based in Montpellier, Medincell currently employs more than 140 people representing more than 25 different nationalities.

Medincell Media Inquiries:
Contact: [email protected]

Teva Cautionary Note Regarding Forward-Looking Statements

This Press Release may contain 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,” “intend,” “plan,” “believe,” “aim” 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 successfully develop olanzapine LAI (TEV-‘749) for the treatment of adult patients diagnosed with schizophrenia and to obtain regulatory approvals; our ability to successfully compete in the marketplace, including 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; our significant indebtedness; our business and operations in general; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2026, and in our Annual Report on Form 10-K for the year ended December 31, 2025, 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.

References

__________

1 Data on file. Parsippany, NJ: Teva Neuroscience, Inc.
2 European Brain Council. Rethinking Schizophrenia. 2024. Available at https://www.braincouncil.eu/projects/rethinking-schizophrenia/#:~:text=Rethinking%20Schizophrenia%20is%20a%20research,that%20of%20the%20general%20population. Last accessed March 20263 Teva What lies beneath: Uncovering the hidden drivers and impact of Stigma in Schizophrenia White Paper 2025. Available at https://www.tevapharm.com/globalassets/tevapharm-vision-files/teva-white-paper-uncovering-hidden-drivers-and-impact-stigma-in-schizophrenia.pdf Last accessed March 2026
4 Thornicroft G. British Journal of Psychiatry. 2011;199(6):441-442.

Teva Pharmaceutical (TEVA) delivered a strong Q1 2026, reinforcing my buy rating and the company's successful pivot to innovative growth assets. TEVA's innovative neuroscience franchise—AUSTEDO, AJOVY, and Uzedy—drove $838M in Q1 revenue, up 41% year over year, offsetting legacy generics decline. Management maintained full-year guidance, with stable gross margins (52.9%) and a clear path to 30% non-GAAP operating income margin by 2027.

PARSIPPANY, N.J., and TEL AVIV, Israel, June 01, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today announced that Richard Francis, Teva's President and CEO, will participate in a fireside chat at the Goldman Sachs Global Healthcare Conference on Monday, June 8, 2026. The fireside chat will begin at 8:00 A.M. Eastern Time.

To access live webcasts of the presentations, please visit Teva’s Investor Relations website at https://ir.tevapharm.com/Events-and-Presentations.

Archived versions of the webcasts will be available within 24 hours after the end of the live discussion and will be accessible for up to 30 days.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative 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.

Cautionary Note Regarding Forward-Looking Statements

This document and the presentation at the conference may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our financial guidance, 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. 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. 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 successfully compete in the marketplace, including: that we are substantially dependent on our 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; the effectiveness of our patents and other measures to protect our intellectual property rights; our significant indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; our business and operations in general; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in this document, in our Quarterly Report on Form 10-Q for the first quarter of 2026 and in our Annual Report on Form 10-K for the year ended December 31, 2025, including in the section captioned “Risk Factors.” 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]

New real-world survey data reveal the daily impact of Huntington’s disease (HD) chorea, with over 68% of patients reporting interference with social life or emotional wellbeing1 and up to 83% of caregivers noting impact on their own daily lives.2Following treatment with AUSTEDO or AUSTEDO XR, most patients (60-71%) reported improvement across multiple quality of life domains as a result of their improved movements.1 As a result of the patient’s reduced chorea impact, most caregivers reported less impact to their daily lives.2These real-world findings reinforce Teva's commitment to advancing innovative treatment options that improve the lives of individuals living with HD chorea and their caregivers. PARSIPPANY, N.J. and TEL AVIV, Israel, June 05, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced new data from the first and only real-world, decentralized study evaluating the patient- and caregiver-reported quality of life impacts of Huntington’s disease (HD) chorea3 and the effect of AUSTEDO® or AUSTEDO XR® on symptom management. The findings demonstrate that treating chorea with AUSTEDO or AUSTEDO XR led to symptom improvement and, as a result, showed improvements across multiple quality of life measures.1,2 The data were presented at the Advanced Therapeutics in Movement & Related Disorders® Congress, held June 4 – 8, 2026, in Washington, DC.

“What we are seeing reinforced from these real-world data is how deeply Huntington’s disease chorea affects patients – physically, emotionally and in their ability to function day-to-day – and the strain it can place on their care partners,” said Eric Hughes, MD, PhD, Executive Vice President, Global R&D and Chief Medical Officer at Teva. “That’s why our patient-centric approach is fundamental to our work at Teva, and why we are proud to see AUSTEDO and AUSTEDO XR delivering such meaningful improvement for patients and making a real difference in the lives of those impacted.”

Self-reported HD chorea patient participants (≥18 years) in the United States completed a non-interventional, online survey through the myHDstory® platform, which included questions regarding chorea impact on quality of life, severity, current treatment and self-defined goals for management. Participants taking AUSTEDO or AUSTEDO XR completed additional questions evaluating perceived changes in burden since treatment initiation, including the Patient Global Impression of Change (PGIC) scale. Caregivers (≥18 years) of individuals with HD chorea also completed an online survey, reporting on how their care recipient’s chorea affected their own daily functioning across multiple quality of life domains.

Prior to treatment survey findings revealed:

Patients reported self-defined aspirational goals that they would like to improve with HD chorea treatment focused on their daily activities and social life. Caregivers also reported goals focused on their own wellbeing.Across the real-world survey population, patients reported HD chorea often interfered with social life (71-84%), emotional wellbeing (68-77%), daily activities (70-78%) and vocational/recreational life (67-82%).1 Caregivers also reported substantial impact across their own social functioning (73–84%), emotional wellbeing (71–84%), daily activities (81–83%) and vocational/recreational life (76-83%) due to their caregiving responsibilities.2 As a result of reduced HD chorea movements in patients treated with AUSTEDO or AUSTEDO XR, the survey findings revealed:

74% of patients reported improvements in their chorea movements since initiating treatment, measured by the PGIC scale.1As a result of movement reduction, over 85% of surveyed patients reported improvements in goals related to daily activities, such as dressing, walking and eating, and goals related to their social lives, such as going out with friends and family.177% of caregivers of patients reported improvements in goals related to their social life, such as going out on their own and emotional wellbeing, including reduced guilt, stress and emotional burden.2 “Huntington’s disease chorea extends beyond its physical symptoms, disrupting patients’ emotional wellbeing, social functioning and sense of self, while also placing immense strain on caregivers,” said Daniel Claassen, MD, MS, Professor of Neurology at Vanderbilt University Medical Center, principal investigator of the study and CEO, Huntington’s Study Group. “These real-world findings demonstrate the importance of effective chorea management to aid in preserving independence longer and alleviating those impacts for both patients and caregivers.”

The study presented, executed in collaboration with the Huntington Study Group, is the only real-world study assessing the impact of HD chorea on patients’ and caregivers’ quality of life to date.3

About Chorea Associated with Huntington’s Disease (HD)
Huntington’s disease (HD) is a fatal neurodegenerative disease characterized by uncoordinated and uncontrollable movements, cognitive deterioration and behavioral and/or psychological problems. Chorea – involuntary, random and sudden, twisting and/or writhing movements – is one of the most striking physical manifestations of Huntington’s disease and occurs in approximately 90% of patients. Chorea can have a significant impact on daily activities and progressively limit peoples’ lives.4,5

About AUSTEDO XR Extended-Release Tablets and AUSTEDO Tablets
AUSTEDO XR and AUSTEDO are the first vesicular monoamine transporter 2 (VMAT2) inhibitors approved by the U.S. Food and Drug Administration in adults for the treatment of tardive dyskinesia and for the treatment of chorea associated with Huntington’s disease. Safety and effectiveness in pediatric patients have not been established. AUSTEDO XR is the once-daily formulation of AUSTEDO.

INDICATIONS AND USAGE
AUSTEDO XR (deutetrabenazine) extended-release tablets and AUSTEDO (deutetrabenazine) tablets are indicated in adults for the treatment of chorea associated with Huntington’s disease and for the treatment of tardive dyskinesia.

IMPORTANT SAFETY INFORMATION 

Depression and Suicidality in Patients with Huntington’s Disease: AUSTEDO XR and AUSTEDO can increase the risk of depression and suicidal thoughts and behavior (suicidality) in patients with Huntington’s disease. Balance the risks of depression and suicidality with the clinical need for treatment of chorea. Closely monitor patients for the emergence or worsening of depression, suicidality, or unusual changes in behavior. Inform patients, their caregivers, and families of the risk of depression and suicidality and instruct them to report behaviors of concern promptly to the treating physician. Exercise caution when treating patients with a history of depression or prior suicide attempts or ideation. AUSTEDO XR and AUSTEDO are contraindicated in patients who are suicidal, and in patients with untreated or inadequately treated depression. 

Contraindications: AUSTEDO XR and AUSTEDO are contraindicated in patients with Huntington’s disease who are suicidal, or have untreated or inadequately treated depression. AUSTEDO XR and AUSTEDO are also contraindicated in: patients with hepatic impairment; patients taking reserpine or within 20 days of discontinuing reserpine; patients taking monoamine oxidase inhibitors (MAOIs), or within 14 days of discontinuing MAOI therapy; and patients taking tetrabenazine or valbenazine.   

Clinical Worsening and Adverse Events in Patients with Huntington’s Disease: AUSTEDO XR and AUSTEDO may cause a worsening in mood, cognition, rigidity, and functional capacity. Prescribers should periodically re-evaluate the need for AUSTEDO XR or AUSTEDO in their patients by assessing the effect on chorea and possible adverse effects. 

QTc Prolongation: AUSTEDO XR and AUSTEDO may prolong the QT interval, but the degree of QT prolongation is not clinically significant when AUSTEDO XR or AUSTEDO is administered within the recommended dosage range. AUSTEDO XR and AUSTEDO should be avoided in patients with congenital long QT syndrome and in patients with a history of cardiac arrhythmias.  

Neuroleptic Malignant Syndrome (NMS), a potentially fatal symptom complex reported in association with drugs that reduce dopaminergic transmission, has been observed in patients receiving tetrabenazine. The risk may be increased by concomitant use of dopamine antagonists or antipsychotics. The management of NMS should include immediate discontinuation of AUSTEDO XR and AUSTEDO; intensive symptomatic treatment and medical monitoring; and treatment of any concomitant serious medical problems.   

Akathisia, Agitation, and Restlessness: AUSTEDO XR and AUSTEDO may increase the risk of akathisia, agitation, and restlessness. The risk of akathisia may be increased by concomitant use of dopamine antagonists or antipsychotics. If a patient develops akathisia, the AUSTEDO XR or AUSTEDO dose should be reduced; some patients may require discontinuation of therapy. 

Parkinsonism: AUSTEDO XR and AUSTEDO may cause parkinsonism in patients with Huntington’s disease or tardive dyskinesia. Parkinsonism has also been observed with other VMAT2 inhibitors. The risk of parkinsonism may be increased by concomitant use of dopamine antagonists or antipsychotics. If a patient develops parkinsonism, the AUSTEDO XR or AUSTEDO dose should be reduced; some patients may require discontinuation of therapy. 

Sedation and Somnolence: Sedation is a common dose-limiting adverse reaction of AUSTEDO XR and AUSTEDO. Patients should not perform activities requiring mental alertness, such as operating a motor vehicle or hazardous machinery, until they are on a maintenance dose of AUSTEDO XR or AUSTEDO and know how the drug affects them. Concomitant use of alcohol or other sedating drugs may have additive effects and worsen sedation and somnolence. 

Hyperprolactinemia: Tetrabenazine elevates serum prolactin concentrations in humans. If there is a clinical suspicion of symptomatic hyperprolactinemia, appropriate laboratory testing should be done and consideration should be given to discontinuation of AUSTEDO XR and AUSTEDO.   

Binding to Melanin-Containing Tissues: Deutetrabenazine or its metabolites bind to melanin-containing tissues and could accumulate in these tissues over time. Prescribers should be aware of the possibility of long-term ophthalmologic effects. 

Common Adverse Reactions: The most common adverse reactions for AUSTEDO (>8% and greater than placebo) in a controlled clinical study in patients with Huntington’s disease were somnolence, diarrhea, dry mouth, and fatigue. The most common adverse reactions for AUSTEDO (4% and greater than placebo) in controlled clinical studies in patients with tardive dyskinesia were nasopharyngitis and insomnia.  Adverse reactions with AUSTEDO XR extended-release tablets are expected to be similar to AUSTEDO tablets. 

Please see accompanying full Prescribing Information, including Boxed Warning. 

About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative 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,” “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 successfully develop and commercialize AUSTEDO and AUSTEDO XR for the treatment of chorea associated with Huntington’s disease; 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 other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2026 and in our Annual Report on Form 10-K for the year ended December 31, 2025, 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.

References:

Claassen D, Dalrymple WA, Finkbeiner S, Klakotskaia D, Konings M, & Gandhi P, (2026, June 4–8). Patient-reported burden of Huntington disease chorea and effect of deutetrabenazine on symptom management and quality of life: Results from a real-world, decentralized study [Poster presentation]. Advanced Therapeutics in Movement & Related Disorders® Congress, Washington, DC, United States.Anderson KE, Moore HP, Finkbeiner S, Klakotskaia D, Konings M, & Gandhi P, (2026, June 4–8). A real-world, decentralized study of caregiver-reported burden of Huntington disease chorea and effect of deutetrabenazine on symptom management and quality of life [Poster presentation]. Advanced Therapeutics in Movement & Related Disorders® Congress, Washington, DC, United States.Data on file. Parsippany, NJ: Teva Neuroscience, Inc.Huntington’s Disease. National Institute of Neurological Disorders and Stroke. https://www.ninds.nih.gov/health-information/disorders/huntingtons-disease#toc-what-is-huntington-s-disease-.Thorley EM, Iyer RG, Wicks P, Curran C, Gandhi SK, Abler V, Anderson KE, Carlozzi NE. Understanding How Chorea Affects Health-Related Quality of Life in Huntington Disease: An Online Survey of Patients and Caregivers in the United States. Patient. 2018;11(5):547-559. doi: 10.1007/s40271-018-0312-x.

Teva Pharmaceutical Industries Limited (TEVA) Presents at Goldman Sachs 47th Annual Global Healthcare Conference 2026 Transcript

Agreement highlights Paragon’s ability to build companies around important science, advance registration-ready assets, and deliver value through strategic transactions

CHICAGO--(BUSINESS WIRE)--Paragon Biosciences today announced the closing of the sale of Emalex Biosciences to Teva Pharmaceutical, reinforcing Paragon's ability to build innovative biotechnology companies that deliver important treatments to the patients who need them.

"Building companies that translate scientific breakthroughs into medicines for patients is the foundation of Paragon's mission," said Jeff Aronin, Paragon Biosciences founder and CEO.

Share Emalex is another Paragon Biosciences-founded company built to develop a novel class of treatment for patients with central nervous system disorders, following in the footsteps of other successful Paragon companies such as Harmony Biosciences (NASDAQ: HRMY). Ecopipam, an investigational compound, was developed by Emalex for Tourette syndrome, a neurodevelopmental disorder that can significantly affect daily life for patients and families.

Paragon, supporting Emalex, advanced the drug through clinical development and the compilation of the NDA that will be submitted in the second half of 2026. The acquisition by Teva comprises $700 million in cash and up to $200 million in commercial milestone payments as well as net-sales-based royalties, subject to regulatory approval.

"This transaction is a testament to the talent, perseverance and vision of the Paragon and Emalex teams. Together, they transformed promising science into a registration-ready program with the potential to become the first new treatment option for Tourette syndrome in over a decade. Their work demonstrates the power of focused innovation to address diseases that have been underserved for far too long,” said Jeff Aronin, Paragon Biosciences founder and CEO.

“Building companies that translate scientific breakthroughs into medicines for patients is the foundation of Paragon's mission. From CNS disorders to rare diseases, we continue to identify important unmet needs, assemble exceptional teams and advance therapies that have the potential to change lives. We are incredibly proud of what the Emalex team has accomplished and excited to see ecopipam move into its next chapter,” Aronin added.

Phase 3 results published in JAMA Neurology showed that ecopipam reduced time to relapse compared to placebo and maintained clinically meaningful tic improvement in subjects with Tourette syndrome.

Ecopipam remains investigational and has not been approved by the U.S. Food and Drug Administration.

“Emalex reflects what Paragon does best, building companies with discipline, urgency and a clear path from scientific insight to patient impact,” said Eric Messner, chief executive officer of Emalex Biosciences. “From the beginning, the team focused on rigorous clinical execution and a significant unmet need. With the transaction now closed, ecopipam is positioned for its next stage as it approaches planned regulatory submission and, if approved, potential access for patients.”

About Ecopipam

Ecopipam is a first-in-class investigational compound designed to block dopamine signaling at the D1 receptor. D1 receptor hypersensitivity may contribute to repetitive and compulsive behaviors associated with Tourette syndrome.

Ecopipam has received Orphan Drug and Fast Track designations from the FDA for the treatment of pediatric patients with Tourette syndrome. Orphan Drug designation is reserved for patient populations of 200,000 or fewer.

The Phase 3 Tourette syndrome study results were recently published in JAMA Neurology. The primary efficacy endpoint in the study was time to relapse for pediatric patients stable and responding to ecopipam then randomized to ecopipam or placebo. The study showed statistical significance between ecopipam and placebo for the primary efficacy endpoint in pediatric patients (p = 0.0084).

Ecopipam was generally well-tolerated in the study and the most common adverse events related to ecopipam therapy were somnolence (10.2%), insomnia (7.4%), anxiety (6.0%), fatigue (5.6%), and headache (5.1%).

About Paragon Biosciences

Paragon Biosciences, founded by Jeff Aronin, creates, builds and funds innovative biology-based companies. Its portfolio companies advance scientific breakthroughs aimed at addressing significant unmet medical needs. Learn more at paragonbiosciences.com.