Welcome to our dedicated page for Teva Pharmaceutical Industries American Depositary Shares news (Ticker: TEVA), a resource for investors and traders seeking the latest updates and insights on Teva Pharmaceutical Industries American Depositary Shares stock.
Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) is a leading Israeli multinational pharmaceutical company headquartered in Tel Aviv, Israel. As the world's largest generic drug manufacturer, Teva plays a pivotal role in the global healthcare industry. The company derives approximately 50% of its sales from North America, contributing significantly to the total number of generic prescriptions in the United States.
Teva's extensive portfolio includes not only generic drugs but also active pharmaceutical ingredients (APIs) and proprietary pharmaceuticals. The company's operations are categorized into three main therapeutic areas:
- Central Nervous System (CNS): Featuring notable products such as Copaxone, Ajovy, and Austedo, Teva addresses critical CNS disorders with innovative treatments.
- Respiratory: Products like Qvar and ProAir contribute to Teva's robust respiratory medicine lineup, catering to patients with various respiratory conditions.
- Oncology: Teva's oncology portfolio includes groundbreaking medicines such as Truxima, Herzuma, and Bendeka/Treanda, providing essential treatments for cancer patients.
In addition to its pharmaceutical products, Teva is a major player in active pharmaceutical ingredients, offering contract manufacturing services and owning Anda, a U.S.-based distributor of generic and specialty drugs.
Teva's global presence extends beyond North America, with significant operations in Europe, Japan, Russia, and its home country, Israel. The company's strategic partnerships and innovations keep it at the forefront of the pharmaceutical industry. Recent developments include advancements in biosimilars and innovative treatments.
Financially, Teva continues to maintain a strong position, focusing on growth and resilience amidst market challenges. The company is committed to improving patient health worldwide by providing high-quality, affordable medicines.
Teva Pharmaceuticals has provided an update on the pivotal Phase 3 clinical trial of its investigational Olanzapine Long-Acting Injectable (LAI). The company announced that approximately 99% of the targeted injections for submission have been completed, with no Post-Injection Delirium/Sedation Syndrome (PDSS) observed. Teva confirmed that full phase 3 safety results are expected in H2 2024, following the positive efficacy results announced in May 2024.
Olanzapine LAI is being developed as a once-monthly subcutaneous injection for atypical antipsychotic treatment. It has the potential to be the first long-acting Olanzapine with a favorable safety profile, as other LAIs of Olanzapine have FDA black box warnings for PDSS. Teva's partner, Medincell, may receive up to $117 million in milestones and royalties on net sales.
Teva Pharmaceutical Industries (NYSE and TASE: TEVA) has announced that its President and CEO, Richard Francis, will be presenting at the Morgan Stanley 22nd Annual Global Healthcare Conference on Wednesday, September 4, 2024. The presentation is scheduled to begin at 11:30 A.M. Eastern Time.
Interested parties can access a live webcast of the presentation through Teva's Investor Relations website at https://ir.tevapharm.com/Events-and-Presentations. For those unable to attend the live event, an archived version of the webcast will be made available within 24 hours after the conclusion of the live discussion.
MedinCell's partner Teva has provided an update on the pivotal Phase 3 clinical trial of their investigational Olanzapine Long-Acting Injectable (LAI) and the commercial progress of UZEDY®. Key highlights include:
1. No Post-Injection Delirium/Sedation Syndrome (PDSS) observed after completion of approximately 95% of targeted injections for submission in the Olanzapine LAI Phase 3 trial.
2. Full Phase 3 safety results for Olanzapine LAI are on track for H2 2024, with positive efficacy results already announced in May 2024.
3. Teva is reaffirming UZEDY® revenue guidance for 2024 at approximately $80 million.
4. Teva is exploring an additional indication for UZEDY® for the treatment of Bipolar I Disorder in adults.
Teva reported a strong Q2 2024 with revenues of $4.2 billion, a 7% increase in USD and 11% in local currency compared to Q2 2023.
Generics saw growth across all regions with U.S. revenues up 16%, European up 8%, and International Markets up 22%. AUSTEDO U.S. revenues increased by 32% to $407 million, prompting a raised 2024 revenue outlook to ~$1.6 billion. AJOVY global revenues rose 12% to $115 million.
Teva accelerated development for duvakitug (Anti-TL1A) with top-line results expected in Q4 2024. Positive Phase 3 results were announced for olanzapine LAI. SIMLANDI and SELARSDI launches are planned for 2024 and 2025, respectively.
Financial highlights include a GAAP loss per share of $0.75 and a non-GAAP EPS of $0.61. The company raised its 2024 outlook, expecting revenues between $16.0 - $16.4 billion and adjusted EBITDA of $4.6 - $5.0 billion.
Net losses were $846 million, with a significant tax expense affecting results. Free cash flow decreased to $324 million from $632 million in Q2 2023, and total debt was reduced to $18.64 billion.
Teva Pharmaceuticals and Sanofi have announced an accelerated timeline for their anti-TL1A Phase 2b program in inflammatory bowel disease (IBD) patients. The RELIEVE UCCD trial, investigating duvakitug for moderate-to-severe ulcerative colitis (UC) and Crohn's disease (CD), has completed patient enrollment earlier than expected due to rapid recruitment. As a result, topline results for both UC and CD are now anticipated in Q4 2024, with detailed results to be presented in 2025. This acceleration replaces the previously planned interim analysis for the second half of 2024. Teva and Sanofi are collaborating to co-develop and co-commercialize duvakitug, potentially a best-in-class IBD treatment.
Teva Pharmaceutical Industries (NYSE and TASE: TEVA) announced positive topline results from its Phase 3 SPACE study evaluating AJOVY (fremanezumab) for the prevention of episodic migraine in children and adolescents aged 6-17 years. The trial met its primary endpoint, demonstrating statistically significant superior efficacy over placebo in reducing Monthly Migraine Days during 12 weeks of treatment. Safety data was consistent with adult populations, with no new safety signals observed.
This marks the first Phase 3 evidence of safety and efficacy for an anti-CGRP monoclonal antibody in pediatric migraine prevention. The results are particularly significant given the lack of approved preventive treatments for children and adolescents. Full data will be presented at a medical meeting later in 2024. Teva continues to study AJOVY in pediatric patients with chronic migraine.
Teva Pharmaceutical Industries will release its Q2 2024 financial results on July 31, 2024, at 7:00 a.m. ET. The company will host a conference call and live webcast to discuss the results at 8:00 a.m. ET the same day. Interested participants must register in advance to receive a local or toll-free phone number and a personal PIN. The webcast will be accessible on Teva's website and a replay will be available within 24 hours.
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.
FAQ
What is the current stock price of Teva Pharmaceutical Industries American Depositary Shares (TEVA)?
What is the market cap of Teva Pharmaceutical Industries American Depositary Shares (TEVA)?
What does Teva Pharmaceutical Industries Limited specialize in?
Where is Teva headquartered?
What are some of Teva's key products?
In which regions does Teva operate?
How much of Teva's sales come from North America?
What therapeutic areas does Teva focus on?
What is Anda?
Does Teva offer contract manufacturing services?
What role does Teva play in the U.S. generic prescription market?
What recent advancements has Teva made?
