Teva Launches New “Pivot to Growth” Strategy

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced a new strategic framework with four main pillars to position the Company for a new era of growth. This strategy aims to bolster the Company’s strong commercial portfolio with AUSTEDO, AJOVY, UZEDY^TM and biosimilars, amplify its innovative pipeline, sustain its generics powerhouse and focus the business. These four pillars are expected to deliver enhanced value and create a greater impact for patients.

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Teva’s President and Chief Executive Officer, Richard Francis, and additional members of Teva’s executive management team will provide a detailed overview of the Company’s new strategy during a live webcast today, May 18, 2023 at 12:00 p.m. ET. The live webcast of the event and presentation materials will be available on Teva's website here.

“Our new strategy is built on four key pillars to deliver short- and long-term growth from our commercial portfolio and biosimilars, innovative pipeline, generics powerhouse and focused capital allocation,” said Richard Francis, President and CEO, Teva. “With our Pivot to Growth strategy, I am confident we will gain momentum as a stronger, bolder and simpler organization.”

Deliver on Growth Engines

Teva expects to return to growth in the short term by accelerating its strong innovative portfolio and delivering on its promising biosimilars pipeline.

Teva expects to achieve annual revenues of more than $2.5 billion by 2027 for AUSTEDO, across its indications by addressing the unmet needs of a significantly under-diagnosed patient population and by expanding its coverage in key geographies. With UZEDY, the Company has an opportunity to reach a population of more than 600,000 patients living with schizophrenia with a best-in-class, differentiated therapy profile. Teva is additionally well-positioned to capitalize on its late-stage pipeline of biosimilars with 7 products in late-stage development and/or under regulatory review.

Step up Innovation

Teva aims to expand its innovative pipeline and focus on its core therapeutic areas of neuroscience, immunology and immuno-oncology, with assets aiming to be first-in-class and best-in-class.

The Company is already developing promising innovative assets, which will improve the standard of care for many patients worldwide and illustrate Teva’s unique capabilities in product formulation, complex devices and antibody engineering: