Teva Pharmaceutical Industries Limited American Depositary Shares - TEVA STOCK NEWS

Teva Pharmaceutical Industries (NYSE: TEVA) has released new data from the 4th interim analysis of the PEARL study on AJOVY® (fremanezumab) for migraine prevention. The sub-analysis, presented at the 10th European Association of Neurology congress, suggests that treatment pauses may worsen patient outcomes. Data indicated over 40% of patients experienced a rapid increase in migraine days post-cessation. Effectiveness was lower upon reinitiation, with only 35.7% and 45.5% of patients achieving significant reduction in monthly migraine days at Months 1 and 3, respectively, compared to 49.0% and 58.9% before cessation. The findings challenge current reimbursement guidelines recommending treatment pauses and advocate for continuous, personalized migraine management.

Teva Pharmaceutical Industries (NYSE and TASE: TEVA) has reached an agreement with the Israel Tax Authority, resolving all ongoing litigation concerning taxes for the years 2008-2020. Teva will pay $750 million in installments from 2024 to 2029. Additionally, if Teva pays dividends or repurchases shares, it will incur an extra tax of 5%-7%, capped at approximately $500 million. This settlement allows Teva to close this historical tax issue and concentrate on its 'Pivot to Growth' strategy. The announcement does not affect Teva’s 2024 financial outlook. Teva is a global pharmaceutical leader, employing 37,000 people across 58 countries, and remains committed to contributing to Israel's economy.

Teva Pharmaceuticals has launched the first-ever authorized generic version of Victoza® (liraglutide injection 1.8mg) in the United States. The generic version, aimed at improving glycemic control and reducing cardiovascular risks in type 2 diabetes patients, expands Teva's complex generics portfolio. Victoza® had annual sales of $1.656 billion as of April 2024. The launch signifies Teva's ongoing commitment to providing affordable medication options.

Teva Pharmaceutical Industries announced that its President and CEO, Richard Francis, will present at the Goldman Sachs 45th Annual Global Healthcare Conference on June 11, 2024. The presentation is scheduled to begin at 8:00 A.M. Eastern Time. A live webcast of the presentation will be available on Teva's Investor Relations website, with an archived version accessible within 24 hours post-event.

Teva Pharmaceuticals presented new data at the Psych Congress Elevate 2024 regarding UZEDY® (risperidone), an extended-release injectable suspension for treating schizophrenia. Key findings include that switching to UZEDY at four weeks after the last dose of once-monthly paliperidone palmitate provides a comparable pharmacokinetic (PK) profile. Additional Phase 3 RISE and SHINE studies showed no new safety concerns in young adults. The Global ADVANCE survey revealed real-world insights from healthcare professionals, caregivers, and patients on long-acting injectable (LAI) treatments. UZEDY can be administered subcutaneously without a loading dose, offering convenience and relapse prevention.

Teva Pharmaceuticals presented interim results from the Phase 4 IMPACT-TD Registry study at Psych Congress Elevate 2024, revealing that tardive dyskinesia (TD) significantly impacts patients' quality of life. The study involves 286 patients and shows that 98% of them experience TD's effects in daily life, with 83% facing moderate to severe impacts. Key findings include that TD affects social, psychological, and physical aspects even in mild cases. The study also evaluated the effectiveness of AUSTEDO XR and AUSTEDO tablets in treating TD.

Teva Pharmaceuticals announced that the U.S. FDA has approved AUSTEDO XR, an extended-release, once-daily tablet for treating tardive dyskinesia (TD) and Huntington’s disease (HD) chorea, available in four dosages (30, 36, 42, 48 mg). This approval offers flexibility and convenience for patients, with symptom improvement expected as early as two weeks for TD and significant reduction in chorea symptoms for HD. AUSTEDO XR is the only VMAT2 inhibitor without restrictions for use with CYP3A4/5 inducers or inhibitors. Over 90% of patients with insurance coverage will pay $10 or less for their prescription with financial assistance.

Teva Pharmaceutical Industries announced the appointment of Matthew Shields as Executive Vice President of Teva Global Operations, effective June 3, 2024. Shields succeeds Eric Drapé and will be based in Parsippany, NJ. Shields brings over 25 years of experience in biopharmaceutical and animal health industries, having held significant roles at Merck, Sanofi, and Amgen. At Merck, he supported $5.6 billion in annual sales and drove operational improvements. Teva CEO Richard Francis highlighted Shields' expertise as vital for the company's growth strategy. Drapé, who significantly contributed to Teva's operational agility and margin improvements, will depart after 11 years.

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.