Q2 2026 Teva Pharmaceutical Industries Limited.. Earnings Call Transcript
Key Points
- Teva Pharmaceutical Industries Ltd (TEVA) reported strong Q2 performance for its growth engines, ASTEDO, AJOVY, and USETI, leading to an increase in full-year revenue guidance for these products.
- The innovative portfolio is reshaping Teva's financial profile with stronger revenue growth, margins, and free cash flow.
- Teva's biosimilars are becoming a growth platform within generics, with 15 products in the market and 14 in the pipeline.
- The company has made significant progress in capital allocation, including the acquisition of Amalex and the conversion of ADS to ordinary shares for listing on the New York Stock Exchange.
- Teva's innovative portfolio has had a strong quarter, with a 43% year-on-year increase, driven by products like Estedo and Ajovy.
- Teva's generics business is down 15% compared to Q2 2025, largely due to lower generics Revlimid contribution.
- Despite strong innovative growth, Teva faces nearly 8% headwinds from generic Revlimid loss year over year.
- The company expects a softer performance in 2026 for its generics business due to fewer high-value launches and a soft cough and cold season.
- Teva's Q2 revenues were down 1% in U.S. Dollars or 3% in local currency compared to Q2 2025, driven by lower generics.
- The company recorded a GAAP net loss of $576 million, impacted by MLX-related expenses.
Hello, everybody, and welcome to the Q2 2026 Teva Pharmaceutical Industries Earnings Conference Call. My name is Elliot. I'll be coordinating your call today. If you would like to ask a question during today's event, please press followed by 1 on your telephone keypad. I would now like to hand over to Christopher Stevo. Please go ahead.
Thank you, Elliot. Good morning and good afternoon, everyone. Thank you for joining us on our second quarter call. Obviously, our materials are posted to our website this morning, so please see those.
And before I turn the call over to our CEO, Richard Francis, I'd like to remind everyone that we'll be making forward-looking statements on this call. The company cautions investors that any forward-looking statement involves risks and uncertainties and is not a guarantee of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements due to a
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