A maker of generic medicines, biosimilars, and brand-name drugs, Teva is one of the world's largest generic drugmakers. Its products treat conditions like multiple sclerosis (COPAXONE), migraine (AJOVY), and Huntington's chorea (AUSTEDO), used by patients and health systems worldwide. Founded in 1901 in Jerusalem as a small medicine wholesaler that shipped goods by mule and camel, it took the name "Teva"—the Hebrew word for "nature"—in the 1930s.
Teva reports Q2 2026 revenue of $4.1B, raises 2026 outlook for key innovative brands
Q2 2026 revenues were $4.1 billion, down 1% in U.S. dollars and 3% in local currency year-over-year.
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GAAP loss per share was $0.49, including $726 million of Emalex acquisition expenses; non-GAAP diluted EPS was $0.02.
Key innovative brands (AUSTEDO, AJOVY, UZEDY) grew 43% YoY in local currency to over $1 billion in revenues.
Teva raised its 2026 revenue outlook for the three key innovative brands to a combined ~$3.7 billion, reflecting ~17% YoY growth at the mid-point.
2026 outlook maintained: revenues of $16.5-$16.85 billion, non-GAAP operating income of $3.8-$4.0 billion, non-GAAP diluted EPS of $1.91-$2.11, and free cash flow of $2.0-$2.4 billion.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Teva shareholders elect Dr. Sol J. Barer to board and approve executive compensation and auditor at 2026 Annual Meeting
Shareholders elected Dr. Sol J. Barer to the Board, with 627,816,662 votes for, 245,921,571 against, and 530,682 abstentions.
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Teva Pharmaceutical Industries held its Annual Meeting on May 28, 2026.
A non-binding advisory vote approved named executive officer compensation, with 795,976,042 for, 77,082,847 against, and 1,170,026 abstentions.
Shareholders approved Kesselman & Kesselman (a member of PricewaterhouseCoopers International Ltd.) as independent auditor until the 2027 annual meeting, with 880,542,242 for, 36,085,507 against, and 525,382 abstentions.
The report was filed under Item 5.07 to disclose the results of these shareholder votes.
5.07 Submission of Matters to a Vote of Security Holders
Teva reports Q1 2026 revenues of $4.0 billion, GAAP diluted EPS of $0.31, non-GAAP diluted EPS of $0.53.
Q1 2026 revenues were $3,982 million, up 2% in U.S. dollars year-over-year, but down 3% in local currency terms.
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GAAP diluted EPS was $0.31, compared to $0.18 in Q1 2025; non-GAAP diluted EPS was $0.53, compared to $0.52.
Gross profit margin improved to 49.5% (GAAP) and 52.9% (non-GAAP) in Q1 2026.
Teva maintained its 2026 outlook, updated for the Emalex acquisition: revenues of $16.4–$16.8 billion, non-GAAP diluted EPS of $1.91–$2.11, and free cash flow of $2.0–$2.4 billion.
Teva entered a definitive agreement to acquire Emalex Biosciences, expected to close by Q3 2026.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Teva extends revolving credit facility maturity to April 2028 and amends covenants
The extension is the second of two permitted one-year extensions under the Senior Unsecured Sustainability-Linked Revolving Credit Agreement dated April 29, 2022.
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On December 10, 2025, Teva obtained lender consent to extend the maturity of its Revolving Facility Agreement from April 29, 2027 to April 29, 2028.
The amendment sets Teva's maximum permitted leverage ratio at 4.25x for Q4 2025 and thereafter, subject to certain increases for material transactions.
If Teva obtains Investment Grade Status and no Event of Default exists, the leverage and interest cover ratio covenants will be suspended; they will be reinstated if Teva loses that status or an Event of Default occurs.
The amendment is filed as Exhibit 10.1 to the Form 8-K.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits
Teva reports Q2 2025 revenues of $4.2 billion, 10th consecutive quarter of growth
Q2 2025 revenues were $4,176 million, flat in U.S. dollars and down 1% in local currency terms versus Q2 2024.
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GAAP diluted EPS was $0.24; non-GAAP diluted EPS was $0.66, up 9% year-over-year.
Key innovative products AUSTEDO, AJOVY, and UZEDY grew collectively ~26% in local currency; 2025 revenue outlooks raised to $2,000-$2,050 million, $630-$640 million, and $190-$200 million, respectively.
Company reaffirmed 2025 outlook for revenues ($16.8-$17.2 billion), non-GAAP operating income ($4.3-$4.6 billion), adjusted EBITDA ($4.7-$5.0 billion), and free cash flow ($1.6-$1.9 billion); raised non-GAAP diluted EPS outlook to $2.50-$2.65.
Free cash flow was $476 million in Q2 2025, up 47% year-over-year; cash flow from operations was $227 million.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits