Teva reported second-quarter 2026 revenue of $4.14 billion and a GAAP loss per share of $0.49, driven largely by a $726 million charge related to the Emalex acquisition and acquired IPR&D. Non-GAAP diluted EPS was $0.02 and adjusted EBITDA was $474 million; the company raised its 2026 outlook for its three key innovative brands. Teva also announced the exchange of ADSs for ordinary shares and plans to list ordinary shares directly on the NYSE in September 2026.

Financial Highlights

  • Revenues: $4,142 million for Q2 2026 (down 1% YoY in USD; down 3% in local currency).
  • Gross profit: $2,153 million for Q2 2026; gross profit margin 52.0%.
  • Operating income (loss): Operating loss $231 million for Q2 2026 (operating margin -5.6%).
  • Net income (loss): Net loss attributable to Teva $576 million for Q2 2026; GAAP diluted loss per share $(0.49).
  • Adjusted metrics: Non-GAAP diluted EPS $0.02 and Adjusted EBITDA $474 million for Q2 2026.

Business Highlights

  • Innovative brands momentum: Combined revenues for AUSTEDO, AJOVY and UZEDY exceeded $1 billion in Q2 2026 and collectively grew 43% YoY in local currency.
  • Brand performance: AUSTEDO global revenues $696 million (up 40% LC); AJOVY $244 million (up 56% LC); UZEDY $77 million (up 43% LC).
  • Pipeline and M&A: Completed acquisition of Emalex and submitted an NDA for ecopipam (EBS-101); recorded $726 million of related expenses in Q2 2026 (primarily acquired IPR&D).
  • Late-stage pipeline progress: EMA accepted MAA for olanzapine LAI; TEV-’408 showed encouraging Phase 1b results in vitiligo with Phase 2 planned; duvakitug advancing with plans for additional indications and Phase 3 recruitment on track.
  • Generics and biosimilars: Generics revenue declined (notably lower lenalidomide capsule sales in U.S. due to competition) while biosimilars expanded, including AHZANTIVE launch in Europe and a licensing agreement for a proposed Ocrevus biosimilar.

Original SEC Filing:

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