Teva Pharmaceutical Industries (TEVA) Leerink Global Healthcare Conference 2026 summary

Strategic transformation and growth trajectory

• Pivot to Growth strategy initiated three years ago, now in the acceleration phase, focusing on transforming from a generics company to a biopharma leader.

• Four pillars: growth engine (innovative products), step up innovation, generics powerhouse, and focused capital allocation.

• Recent years have seen stabilization and growth in both generics and innovative businesses.

• Innovative business expected to accelerate due to new assets entering the market.

Generics and biosimilars business update

• Generics business now primarily in Europe and international markets, with U.S. representing less than 25%.

• Focused portfolio on high-value products, reducing coverage of patent-losing products from 100% to 65%.

• Second-largest biosimilar portfolio globally, with 10 on the market, 7 more by 2026, and 10 additional planned.

• Manufacturing network rationalization underway to improve efficiency and margins.

• Long-term CAGR for generics modeled at 1%-2%, with potential for outperformance in certain years.

Macroeconomic and geopolitical context

• Less than 2% of revenue and less than 8% of manufacturing based in Israel, minimizing direct exposure to regional conflict.

• Business continuity maintained through robust supply chain and inventory management.

• Emphasis on employee well-being during challenging times.