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Teva reported Q1 2024 revenues of $3.8 billion, a 5% increase from Q1 2023, with growth in generics business and AUSTEDO. AJOVY revenues were up 18%. Positive Phase 3 results for olanzapine LAI (TEV' 749). Financial outlook reaffirmed for 2024. Gross profit increased by 12%. Non-GAAP diluted EPS was $0.48. Cash flow used in operating activities was $124 million. Debt decreased to $19,643 million. US segment revenues increased by 3%, led by AUSTEDO and generic products. Europe segment revenues grew by 7%, driven by generic products and AJOVY.
Teva Pharmaceuticals and Medincell have announced positive Phase 3 efficacy results from the SOLARIS trial evaluating TEV-‘749 (olanzapine) as a once-monthly subcutaneous long-acting injectable in adults with schizophrenia. The study met its primary endpoint, showing significant reductions in the PANSS total score across all dose groups compared to placebo. TEV-‘749 was well tolerated with no PDSS observed. The drug utilizes SteadyTeq™ technology, a copolymer technology proprietary to Medincell. The results demonstrate the potential of TEV-‘749 as an effective long-acting treatment option for schizophrenia.
Teva Pharmaceutical Industries announced that Richard Francis, Teva's President and CEO, will present at the 2024 Bank of America Healthcare Conference on May 14, 2024. The presentation will be available via live webcast on Teva’s Investor Relations website.
Teva Pharmaceutical Industries released its 2023 Healthy Future Report, outlining a renewed sustainability strategy focused on achieving net zero emissions, renewable electricity, and health system strengthening. The report highlights the issuance of $2.49 billion in sustainability-linked bonds, bringing the total to $7.5 billion, making Teva the largest issuer in pharmaceuticals globally. Teva's efforts in access to medicines, greenhouse gas emission reductions, supplier engagement, and community support are detailed. The report reflects Teva's commitment to sustainability, business integrity, and social responsibility.
