Teva Announces Launch of $1,500,000,000 Offering of Senior Notes

Teva Pharmaceutical Industries Limited (NYSE and TASE: TEVA) (“Teva”) announced today the following private offering of senior notes:

Teva Pharmaceutical Finance Netherlands II B.V. (“Teva Finance II”) intends to offer EUR-denominated Senior Notes (the “Euro Notes”); and

Teva Pharmaceutical Finance Netherlands III B.V. (“Teva Finance III” and, together with Teva Finance II, the “Issuers”) intends to offer USD-denominated Senior Notes (the “USD Notes” and, together with the Euro Notes, the “Notes”).

The offering of the Notes will be a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), subject to market and other conditions. The Issuers and Teva expect to enter into a registration rights agreement with respect to each of the Euro Notes and the USD Notes. Teva expects to use the net proceeds from the offerings, together with cash on hand, to (i) fund the announced tender offer to purchase, for cash, its 2.200% Senior Notes due 2021, its 3.650% Senior Notes due 2021 and its 3.650% Senior Notes due 2021 for a maximum combined aggregate purchase price (exclusive of accrued and unpaid interest but inclusive of tender premium) of up to $1,500,000,000, (ii) to pay fees and expenses in connection therewith and (iii) to the extent of any remaining proceeds, for general corporate purposes, which may include the repayment of outstanding debt.

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.