Teva’s High-Velocity Biopharma Model

When we introduced our Pivot to Growth strategy in 2023, we were clear about the company we wanted Teva to become: a stronger, more innovative company, capable of delivering meaningful medicines to patients and creating sustainable value over the long term. We have delivered three consecutive years of growth, more than doubled our innovative revenue, launched innovative products across mental health and movement disorders, returned to investment-grade status, and increasingly shifted our focus toward innovation and future growth. These milestones demonstrate that we are building credibility by doing what we said we would do and give us a stronger platform from which to drive the next wave of innovation and growth.

Innovation is central to that next phase. Our R&D model is clear: concentrating our investment on neuroscience and immunology, making fewer, bigger bets with the greatest potential for patient impact and long-term value. Our late-stage innovative pipeline has the potential, subject to regulatory approvals, to deliver one launch per year over five years, with further opportunities beyond those near-term launches. The science can come from anywhere - our own labs, partners, biotech or universities. What we insist on is the height of the bar: validated biology, differentiated assets and a real chance of success.

Our scale and discipline were built in generics. Our speed comes from how we work. Almost 4 years into Pivot to Growth, we effectively built a high-velocity biopharma company, bringing together speed and agility of a biotech with the scale, reach and execution capabilities of a global pharmaceutical company. That combination allows us to close the distance between proven science and patient impact.

It is as much about how we operate as what we develop: staying focused on the science that matters, making decisions when the data moves with discipline and speed, and treating capital as an instrument, with every dollar judged on its return and every decision grounded in patient need. None of this happens without the people across Teva who bring the science, judgment, urgency and execution together. We have built the platform, we know where the opportunities are, and now it is in our hands to deliver.

Today, investors know Teva's story. What they may not fully recognize is the value embedded in the next wave of growth drivers being built across our pipeline, development engine and commercial capabilities. What follows is a closer look at that work. Not just the what but the how. The science we are advancing, the pipeline taking shape, the capabilities we are building, and the people bringing them together. Ultimately, that is what high-velocity biopharma means: accelerating the journey from science, to medicines, to the market, to repeatable growth, so that better health reaches patients not eventually, but now.

Richard Francis
President and CEO, Teva Pharmaceuticals