Teva Announces Launch of Offering of Senior Notes

Teva Pharmaceutical Industries Limited (NYSE and TASE: TEVA) (“Teva”) announced today that its special purpose finance subsidiary, (i) Teva Pharmaceutical Finance Netherlands II B.V. (“Teva Finance II”) intends to offer €1,000,000,000 aggregate principal amount of EUR-denominated Senior Notes in one or more series (the “Euro Notes”) and (ii) Teva Pharmaceutical Finance Netherlands III B.V. (“Teva Finance III” and, together with Teva Finance II, the “Issuers”) intends to offer $2,250,000,000 aggregate principal amount of USD-denominated Senior Notes in one or more series (the “USD Notes” and, together with the Euro Notes, the “Notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), in each case subject to market and other conditions. The Issuers and Teva expect to enter into a registration rights agreement with respect to the Notes. Teva expects to use the net proceeds from the offerings to repay approximately $2.3 billion outstanding indebtedness under its U.S. Dollar and Japanese Yen term loan agreements and, together with cash on hand, to repay all $1.5 billion outstanding indebtedness under its 1.40% Senior Notes due 2018, with the remainder of the net proceeds, if any, to be used to pay related fees and expenses and/or otherwise for general corporate purposes. In connection with completion of the offerings, Teva expects to give notice of its intention to redeem all of its 1.40% Senior Notes due 2018.

The Notes will be unsecured senior obligations of the Issuers and will be unconditionally guaranteed on a senior basis by Teva. The Notes will be offered and sold (i) in the U.S. to qualified institutional buyers pursuant to Rule 144A under the Securities Act, and (ii) to non-U.S. persons in offshore transactions outside the U.S. pursuant to Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act or the laws of any state and may not be offered or sold in the U.S. or to, or for the benefit of, any U.S. persons absent registration under or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws.