Teva Pharmaceutical Industries Limited
TEVA evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for TEVA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · TEVA
Teva Pharmaceutical Industries is a global generic and specialty drug maker executing a 'Pivot to Growth' strategy, with a focus on key innovative products (AUSTEDO, AJOVY, UZEDY) and a late-stage biosimilar pipeline, while managing a large debt load and ongoing legal risks.
Key risk: High debt burden
BioSniper Score
Based on 6 of 6 signals
Market Cap
$42.46B
Cash Runway
—
Lead Asset
airduo respiclick (Approved)Next Catalyst
Phase3_Topline · Sep 19, 2026Financial data as of Jun 30, 2026.
Tracking 29 pipeline candidates · 33 clinical trials · 4 catalysts · 61 FDA decisions for Teva Pharmaceutical Industries Limited.
Teva Pharmaceutical Industries is a global generic and specialty drug maker executing a 'Pivot to Growth' strategy, with a focus on key innovative products (AUSTEDO, AJOVY, UZEDY) and a late-stage biosimilar pipeline, while managing a large debt load and ongoing legal risks.
- Revenues in 2025 were $17,258 million, up 4% in U.S. dollars (3% in local currency) vs. 2024, driven by key innovative products and development milestones [sec · filed 2026-03-31].
- As of 2026-06-30, the company reported cash & equivalents of $3,655M, total revenue of $4,142M, net loss of -$576M, shareholders' equity of $7,910M, and total debt of $4,500M [sec].
- The 'Pivot to Growth' strategy entered its 'Accelerate Growth' phase (2025-2027), with four pillars: delivering on growth engines, stepping up innovation, optimizing the portfolio, and reorganizing business units [sec · filed 2026-03-31].
- Key pipeline progress includes an NDA filing for olanzapine LAI (schizophrenia), Phase 3 starts for duvakitug (anti-TL1A) in UC and Crohn's, and Fast Track designation for emrusolmin (TEV-’286) in Multiple System Atrophy [sec · filed 2026-03-31].
- Biosimilar launches in 2025 include SELARSDI (ustekinumab-aekn) and EPYSQLI (eculizumab-aagh), with late-stage pipeline candidates for Prolia, Xgeva, Eylea, Simponi, and Simponi Aria [sec · filed 2026-03-31].
What works
- Strong revenue growth from key innovative products: AUSTEDO global revenues were $1.688 billion in 2024, up 36% [sec · filed 2025-04-09].
- Advancing late-stage pipeline with multiple Phase 3 programs and an NDA filing, indicating potential future revenue streams [sec · filed 2026-03-31].
- Biosimilar portfolio expanding with recent U.S. launches and regulatory submissions for several high-value reference biologics [sec · filed 2026-03-31].
- Operating cash flow improved to $1,649 million in 2025 from $1,247 million in 2024, partly due to development milestone payments [sec_mda · as of 2026-02-03].
What to weigh
- Net loss of -$576M reported as of 2026-06-30, indicating ongoing profitability challenges [sec].
- Total debt of $4,500M remains high, requiring continued focus on deleveraging and interest expense management [sec].
- Substantial dependence on generic products and concentrated customer base exposes the company to pricing pressure and competitive risks [sec_mda · as of 2026-07-29].
- Operating loss of $303 million in 2024, swinging from operating income of $433 million in 2023, partly due to an upfront payment received in 2023 [sec · filed 2025-04-09].
From the filings
Quoted directly from source documents.
Revenues in 2025 were $17,258 million, an increase of 4% in U.S. dollars.
“Our revenues in 2025 were $17,258 million, an increase of 4% in U.S. dollars, or 3% in local currency terms, compared to 2024”
SEC filings · March 31, 2026
AUSTEDO global revenues were $1.688 billion in 2024, up 36%.
“AUSTEDO: Global revenues for this treatment of chorea associated with Huntington's disease and tardive dyskinesia were $1.688 billion, up 36%.”
SEC filings · April 9, 2025
The company filed an NDA for olanzapine LAI in December 2025.
“This included the filing of a New Drug Application ("NDA") for olanzapine LAI in December 2025.”
SEC filings · March 31, 2026
Operating cash flow in 2025 was $1,649 million.
“Cash flow generated from operating activities in 2025 was $1,649 million, compared to $1,247 million in 2024.”
SEC filings · February 3, 2026
Catalyst timeline
- 2026-09-19 · Phase3_Topline · fluticasone — Topline results from a 4-week, double-blind, placebo-controlled efficacy and safety trial of fluticasone.
- 2026-10-31 · Phase3_Topline — Topline results from a randomized, double-blind, multicenter, active-controlled study.
- 2027-04-01 · Phase3_Topline — Topline results from a randomized, multi-center, evaluator-blind, vehicle-controlled efficacy and safety study.
- 2042-03-17 · Patent_Expiry · UZEDY — Patent/exclusivity expiry for UZEDY, which may open the market to generic competition.
Risks & what to watch (4)›
Key risks
- High debt burden — Total debt of $4,500M as of 2026-06-30 requires ongoing deleveraging and interest expense management [sec].
- Generic market competition — Substantial dependence on generic products and concentrated customer base exposes company to pricing pressure and competitive risks [sec_mda · as of 2026-07-29].
- Profitability swings — Net loss of -$576M as of 2026-06-30 and operating loss of $303M in 2024 indicate volatile earnings [sec] [sec · filed 2025-04-09].
- Pipeline execution risk — Late-stage pipeline assets (e.g., duvakitug, olanzapine LAI) face clinical and regulatory uncertainties [sec · filed 2026-03-31].
What to watch
- Phase 3 topline results for fluticasone on 2026-09-19 [catalyst].
- Phase 3 topline results for another program on 2026-10-31 [catalyst].
- Phase 3 topline results for a third program on 2027-04-01 [catalyst].
- Patent/Exclusivity expiry for UZEDY on 2042-03-17 [catalyst].
Sources: SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 4.14 · 0% dilution
Lead: Approved
29 candidates
4 upcoming, next in ~20d
0 buys · 41 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
648
Total value held
$14.77B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 65,136,464 | $1.96B |
| menora mivtachim holdings ltd. | 39,626,383 | $1.19B |
| wcm investment management, llc | 40,820,600 | $1.16B |
| fmr llc | 33,132,795 | $998.0M |
| state street corp | 17,790,020 | $535.8M |
| rubric capital management lp | 15,250,000 | $459.3M |
| susquehanna international group, llp | 13,195,215 | $397.4M |
| altshuler shaham ltd | 11,468,401 | $335.9M |
| geode capital management, llc | 10,564,988 | $316.3M |
| janus henderson group plc | 9,633,314 | $290.2M |
Showing top 10 of 648 institutional holders of Teva Pharmaceutical Industries Limited. Open the full 13F history after sign-in.
Short Interest
as of Apr 28, 2026- % of float
- 2.6%
- Days to cover
- 5.2
- Shares short
- 29,736,398
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
TEVA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Teva Pharmaceutical Industries Limited?
Teva Pharmaceutical Industries is a global generic and specialty drug maker executing a 'Pivot to Growth' strategy, with a focus on key innovative products (AUSTEDO, AJOVY, UZEDY) and a late-stage biosimilar pipeline, while managing a large debt load and ongoing legal risks.
What is Teva Pharmaceutical Industries Limited's lead drug candidate?
Teva Pharmaceutical Industries Limited's most advanced tracked candidate is airduo respiclick (Approved).
What is Teva Pharmaceutical Industries Limited's next catalyst?
Teva Pharmaceutical Industries Limited's next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A 4-Week, Double-Blind, Placebo-Controlled, Parallel-Group, Efficacy and Safety Trial of Fluticasone" — expected September 19, 2026.
Who is the CEO of Teva Pharmaceutical Industries Limited?
Mr. Richard D. Francis is the chief executive officer of Teva Pharmaceutical Industries Limited (TEVA).
Where is Teva Pharmaceutical Industries Limited headquartered?
Teva Pharmaceutical Industries Limited (TEVA) is headquartered in Tel Aviv-Yafo, Israel.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.