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Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) is a leading Israeli multinational pharmaceutical company headquartered in Tel Aviv, Israel. As the world's largest generic drug manufacturer, Teva plays a pivotal role in the global healthcare industry. The company derives approximately 50% of its sales from North America, contributing significantly to the total number of generic prescriptions in the United States.
Teva's extensive portfolio includes not only generic drugs but also active pharmaceutical ingredients (APIs) and proprietary pharmaceuticals. The company's operations are categorized into three main therapeutic areas:
- Central Nervous System (CNS): Featuring notable products such as Copaxone, Ajovy, and Austedo, Teva addresses critical CNS disorders with innovative treatments.
- Respiratory: Products like Qvar and ProAir contribute to Teva's robust respiratory medicine lineup, catering to patients with various respiratory conditions.
- Oncology: Teva's oncology portfolio includes groundbreaking medicines such as Truxima, Herzuma, and Bendeka/Treanda, providing essential treatments for cancer patients.
In addition to its pharmaceutical products, Teva is a major player in active pharmaceutical ingredients, offering contract manufacturing services and owning Anda, a U.S.-based distributor of generic and specialty drugs.
Teva's global presence extends beyond North America, with significant operations in Europe, Japan, Russia, and its home country, Israel. The company's strategic partnerships and innovations keep it at the forefront of the pharmaceutical industry. Recent developments include advancements in biosimilars and innovative treatments.
Financially, Teva continues to maintain a strong position, focusing on growth and resilience amidst market challenges. The company is committed to improving patient health worldwide by providing high-quality, affordable medicines.
Teva Pharmaceuticals and Sanofi have announced an accelerated timeline for their anti-TL1A Phase 2b program in inflammatory bowel disease (IBD) patients. The RELIEVE UCCD trial, investigating duvakitug for moderate-to-severe ulcerative colitis (UC) and Crohn's disease (CD), has completed patient enrollment earlier than expected due to rapid recruitment. As a result, topline results for both UC and CD are now anticipated in Q4 2024, with detailed results to be presented in 2025. This acceleration replaces the previously planned interim analysis for the second half of 2024. Teva and Sanofi are collaborating to co-develop and co-commercialize duvakitug, potentially a best-in-class IBD treatment.
Teva Pharmaceutical Industries (NYSE and TASE: TEVA) announced positive topline results from its Phase 3 SPACE study evaluating AJOVY (fremanezumab) for the prevention of episodic migraine in children and adolescents aged 6-17 years. The trial met its primary endpoint, demonstrating statistically significant superior efficacy over placebo in reducing Monthly Migraine Days during 12 weeks of treatment. Safety data was consistent with adult populations, with no new safety signals observed.
This marks the first Phase 3 evidence of safety and efficacy for an anti-CGRP monoclonal antibody in pediatric migraine prevention. The results are particularly significant given the lack of approved preventive treatments for children and adolescents. Full data will be presented at a medical meeting later in 2024. Teva continues to study AJOVY in pediatric patients with chronic migraine.
Teva Pharmaceutical Industries will release its Q2 2024 financial results on July 31, 2024, at 7:00 a.m. ET. The company will host a conference call and live webcast to discuss the results at 8:00 a.m. ET the same day. Interested participants must register in advance to receive a local or toll-free phone number and a personal PIN. The webcast will be accessible on Teva's website and a replay will be available within 24 hours.
Teva Pharmaceutical Industries (NYSE: TEVA) has released new data from the 4th interim analysis of the PEARL study on AJOVY® (fremanezumab) for migraine prevention. The sub-analysis, presented at the 10th European Association of Neurology congress, suggests that treatment pauses may worsen patient outcomes. Data indicated over 40% of patients experienced a rapid increase in migraine days post-cessation. Effectiveness was lower upon reinitiation, with only 35.7% and 45.5% of patients achieving significant reduction in monthly migraine days at Months 1 and 3, respectively, compared to 49.0% and 58.9% before cessation. The findings challenge current reimbursement guidelines recommending treatment pauses and advocate for continuous, personalized migraine management.
Teva Pharmaceutical Industries (NYSE and TASE: TEVA) has reached an agreement with the Israel Tax Authority, resolving all ongoing litigation concerning taxes for the years 2008-2020. Teva will pay $750 million in installments from 2024 to 2029. Additionally, if Teva pays dividends or repurchases shares, it will incur an extra tax of 5%-7%, capped at approximately $500 million. This settlement allows Teva to close this historical tax issue and concentrate on its 'Pivot to Growth' strategy. The announcement does not affect Teva’s 2024 financial outlook. Teva is a global pharmaceutical leader, employing 37,000 people across 58 countries, and remains committed to contributing to Israel's economy.
Teva Pharmaceuticals has launched the first-ever authorized generic version of Victoza® (liraglutide injection 1.8mg) in the United States. The generic version, aimed at improving glycemic control and reducing cardiovascular risks in type 2 diabetes patients, expands Teva's complex generics portfolio. Victoza® had annual sales of $1.656 billion as of April 2024. The launch signifies Teva's ongoing commitment to providing affordable medication options.
Teva Pharmaceutical Industries announced that its President and CEO, Richard Francis, will present at the Goldman Sachs 45th Annual Global Healthcare Conference on June 11, 2024. The presentation is scheduled to begin at 8:00 A.M. Eastern Time. A live webcast of the presentation will be available on Teva's Investor Relations website, with an archived version accessible within 24 hours post-event.
Teva Pharmaceuticals presented new data at the Psych Congress Elevate 2024 regarding UZEDY® (risperidone), an extended-release injectable suspension for treating schizophrenia. Key findings include that switching to UZEDY at four weeks after the last dose of once-monthly paliperidone palmitate provides a comparable pharmacokinetic (PK) profile. Additional Phase 3 RISE and SHINE studies showed no new safety concerns in young adults. The Global ADVANCE survey revealed real-world insights from healthcare professionals, caregivers, and patients on long-acting injectable (LAI) treatments. UZEDY can be administered subcutaneously without a loading dose, offering convenience and relapse prevention.
Teva Pharmaceuticals presented interim results from the Phase 4 IMPACT-TD Registry study at Psych Congress Elevate 2024, revealing that tardive dyskinesia (TD) significantly impacts patients' quality of life. The study involves 286 patients and shows that 98% of them experience TD's effects in daily life, with 83% facing moderate to severe impacts. Key findings include that TD affects social, psychological, and physical aspects even in mild cases. The study also evaluated the effectiveness of AUSTEDO XR and AUSTEDO tablets in treating TD.
Teva Pharmaceuticals announced that the U.S. FDA has approved AUSTEDO XR, an extended-release, once-daily tablet for treating tardive dyskinesia (TD) and Huntington’s disease (HD) chorea, available in four dosages (30, 36, 42, 48 mg). This approval offers flexibility and convenience for patients, with symptom improvement expected as early as two weeks for TD and significant reduction in chorea symptoms for HD. AUSTEDO XR is the only VMAT2 inhibitor without restrictions for use with CYP3A4/5 inducers or inhibitors. Over 90% of patients with insurance coverage will pay $10 or less for their prescription with financial assistance.
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