Teva's Innovative Portfolio Drives 11th Consecutive Quarter of Growth in Q3 2025; Increases 202

For an accessible version of this Press Release, please visit www.tevapharm.com

• Teva reports revenues of $4.5 billion in the third quarter of 2025, an increase of 3% year-over-year (YoY) in U.S. dollars or 1% in local currency (LC). Excluding Japan BV in Q3 2024, revenues increased 5% in U.S. dollars or 3% in LC. United States segment increased by 12%; Europe segment decreased by 10% in LC; and International Markets segment decreased by 10% in LC, or increased by 2% in LC excluding Japan BV in Q3 2024, all compared to the third quarter of 2024.
• GAAP operating income margin of 19.7% and non-GAAP operating income margin of 28.9% (+86 bps YoY), driven by our key innovative brands’ growth. On track for non-GAAP operating profit margin target of 30% by 2027, in line with our Pivot to Growth Strategy.
• Key Innovative brands continue to drive growth, with revenues +33% YoY in LC to $830 million, and to provide value to diverse and critical patient populations:    

• • AUSTEDO® – shows continued strong growth with global revenues of $618 million in Q3 2025 (+38% in LC YoY); led by U.S. revenue growth (+38% YoY). Increasing AUSTEDO 2025 revenue outlook by $50 million - $100 million to a new range of $2,050 million - $2,150 million.
    • Inflation Reduction Act (IRA) price-setting reinforces confidence in our long-term outlook; on track for 2027 revenue target of >$2.5 billion and beyond 2027 peak year revenue target of >$3 billion.
  • AJOVY® – global revenues of $168 million (+19% LC YoY). Reaffirming 2025 revenue outlook of $630 million - $640 million.
  • UZEDY® – revenues of $43 million (+24% YoY). Reaffirming 2025 revenue outlook of $190 million - $200 million and long-term LAI schizophrenia franchise expectations of $1.5 billion - $2.0 billion, including olanzapine LAI, subject to regulatory approvals.
• Generics portfolio shows stable growth:  

• • Global generics increased by 2% year-over-year in the third quarter of 2025 in LC excluding Japan BV in Q3 2024; launch of liraglutide injection (the generic version of Saxenda®), the first-ever generic GLP-1 treatment for weight loss, strengthening Teva’s complex generics portfolio.
    • Biosimilars strategic portfolio shows strong growth, with revenues on track for 2027 expectations, subject to regulatory product approvals.

• Innovative pipeline achieves key milestones:
  • Phase 3 SOLARIS clinical trial data for olanzapine LAI (TEV-‘749) as a treatment for schizophrenia showing no PDSS(1) cases (link).
  • emrusolmin (TEV-’286) receiving U.S. FDA ‘Fast Track’ designation for Multiple System Atrophy (link).
  • Phase 3 programs for duvakitug (anti-TL1A) in ulcerative colitis (UC) and Crohn’s disease (CD) initiated by Sanofi and Teva in October 2025.
• Transforming and modernizing our business through Teva Transformation programs – combined with innovative product growth expected to achieve 30% non-GAAP operating income margin by 2027. On track to deliver ~$700 million of net savings by 2027. We are on track to achieving our targeted savings for 2025.
• Exclusive discussions with selected buyer on TAPI sale have terminated; Teva to initiate a renewed sales process, maintaining strategic intention to divest.

Q3 2025 Highlights:

• Revenues of $4.5 billion
• GAAP diluted EPS of $0.37
• Non-GAAP diluted EPS of $0.78
• Cash flow generated from operating activities of $369 million
• Free cash flow of $515 million
• Updating full-year outlook(2)(3):
  • Revenues of $16.8 billion ‐ $17.0 billion (tightening high-end of the range by -$200 million versus our prior expectations)
  • Non‐GAAP operating income of $4.4 billion ‐ $4.6 billion (+$100 million at the low-end; mid-point increased by $50 million)
  • Adjusted EBITDA of $4.8 billion ‐ $5.0 billion (+$100 million at the low-end; mid-point increased by $50 million)
  • Non‐GAAP diluted EPS of $2.55 ‐ $2.65 (+$0.05 at the low-end, mid-point increased by $0.025)
  • Free cash flow of $1.6 billion ‐ $1.9 billion (unchanged)

1 PDSS = post-injection delirium/sedation syndrome
2 Revised 2025 outlook includes no contribution from the Japan BV after Q1 2025 and continues to include a full year contribution from TAPI, as well as exclude the expected income from development milestone payments from Sanofi in connection with the duvakitug Phase 3 study initiation for ulcerative colitis and Crohn’s disease. Japan BV revenues were $73 million in Q3 2024 and $75 million in Q1 2025.
3 This outlook is based on the existing tariff and trade environment as of November 5, 2025.

TEL AVIV, Israel, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today reported results for the quarter ended September 30, 2025.

Mr. Richard Francis, Teva's President and CEO, said, “Our innovative portfolio driving the 11th consecutive quarter of growth in the third quarter reflects the accelerating momentum of our transformation and the strength of our innovation-led Pivot to Growth strategy. Our key growth drivers—particularly our innovative medicines—delivered a 33% increase in local currency, underscoring their impact on both patient outcomes and our financial performance. As we continue executing our strategy, we remain firmly on track to reach our 30% non-GAAP operating profit margin by 2027 and ~$700 million of net savings target.”

Mr. Francis added, “Following the conclusion of the IRA pricing negotiations, we are reiterating our strong confidence in our AUSTEDO 2027 target. Our differentiated innovative portfolio is now a defining strength for Teva as we transform into a leading innovative biopharma, while our world-class generics business continues to provide a resilient foundation. With our talented team and unwavering commitment to patients, we are confident about Teva’s future and our ability to deliver enduring value to all our stakeholders.”

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