Teva Pharmaceutical Industries Ltd. has reported its financial results for the year and the quarter ended December 31, 2025. The company delivered its third consecutive year of growth, with 2025 revenues of $17.3 billion, marking a 4% increase year-over-year in U.S. dollars, or 3% in local currency terms compared to 2024.
The key innovative brands continued to drive growth, with 2025 revenues surpassing $3 billion, representing a 35% increase year-over-year in local currency. Notably, Austedo® global revenues reached $2.26 billion, growing 34% year-over-year in local currency, while Ajovy® global revenues amounted to $673 million, up 30% year-over-year in local currency. Additionally, Uzedy® revenues totaled $191 million, marking a 63% year-over-year increase in local currency. In the fourth quarter of 2025, these key brands collectively delivered approximately $1 billion of revenues for the first time.
The generics portfolio remained stable, with a 2% increase in the U.S., a 2% decrease in Europe, and a 2% decrease in international markets in local currency terms compared to 2024. Excluding Japan BV, revenues increased by 1% in international markets in local currency compared to 2024.
Teva's innovative late-stage pipeline continued to drive transformation, with four innovative product submissions targeted over the next 5 years. The company secured up to $500 million in funding through an agreement with royalty pharma to fund the development of anti-IL-15 (Tev-’408) for the vitiligo indication. Additionally, the company initiated phase 3 for Duvakitug (anti-TL1A) for ulcerative colitis and Crohn's disease and submitted a new drug application to the FDA for Olanzapine LAI in December 2025.
In terms of financial performance, Teva reported revenues of $4.7 billion for the fourth quarter of 2025 and GAAP diluted earnings per share of $0.41, while non-GAAP diluted EPS stood at $0.96. For the full year 2025, the company reported revenues of $17.3 billion, GAAP diluted earnings per share of $1.21, and non-GAAP diluted EPS of $2.93. The company also generated $1,158 million in cash flow from operating activities in the fourth quarter and $1,649 million for the full year 2025, with free cash flow amounting to $1,298 million for the fourth quarter and $2,396 million for the full year.
Looking ahead to 2026, Teva provided a business outlook, anticipating revenues of $16.4 * $16.8 billion, non-GAAP operating income of $4.55 * $4.8 billion, adjusted EBITDA of $5.0 * $5.3 billion, non-GAAP diluted EPS of $2.57 * $2.77, and free cash flow of $2.0 * $2.4 billion.
Richard Francis, Teva's president and CEO, expressed optimism about the company's performance, stating that the pivot to growth strategy had driven Teva's third year of consecutive growth and solidified its transformation into a leading biopharmaceutical company. He also emphasized the company's milestone-rich outlook for 2026, highlighting multiple late-stage pipeline readouts across immunology and neurology, the anticipated FDA approval of Olanzapine LAI, and important data expected for key pipeline assets.
Today the company's shares have moved -1.82% to a price of $31.76. If you want to know more, read the company's complete 8-K report here.
