| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 4.1K | 4.0% | 0.8% |
| Total Income | 4.1K | 4.0% | 0.8% |
| Expenditure | 4.4K | 31.3% | 17.5% |
| PBT | -455.00 | 204.1% | 324.1% |
| Net Profit | -576.00 | 256.1% | 304.3% |
| OPM | -5.58% | 21.95pp | 16.47pp |
| NPM | -13.91% | 23.17pp | 20.66pp |
| EPS | -0.49 | 253.1% | 296.0% |
Teva Reports Q2 2026 Results, Raises Outlook for Key Innovative Brands
29 Jul 2026 · 29 Jul, 4:31 pm
Summary
Teva Pharmaceutical Industries Ltd. reported Q2 2026 revenues of $4.1 billion, a 1% decrease year-over-year in U.S. dollars, largely attributed to a decline in generics revenue. However, the company's key innovative brands demonstrated robust growth, increasing 43% year-over-year in local currency to exceed $1 billion in revenue, prompting Teva to raise its 2026 outlook for these brands. Despite a GAAP loss per share of $0.49 due to significant acquisition-related expenses, non-GAAP diluted EPS was $0.02, and the company maintained its full-year earnings and cash flow guidance. Management highlighted the continued execution of its 'Pivot to Growth' strategy, emphasizing the transformation of its portfolio mix and financial profile driven by innovative products.
Key Highlights
- 1
Q2 2026 revenues were $4.1 billion, a decrease of 1% in U.S. dollars year-over-year, primarily due to lower generics revenues.
- 2
Key innovative brands collectively grew 43% year-over-year in local currency to over $1 billion in revenues, with AUSTEDO, AJOVY, and UZEDY showing strong growth.
- 3
Teva is raising its 2026 revenue outlook for its three key innovative brands, expecting combined 2026 revenue of approximately $3.7 billion, reflecting about 17% year-over-year growth.
- 4
Global generics revenues decreased by 15% year-over-year in local currency, mainly due to lower revenues from lenalidomide capsules in the U.S.
- 5
The company reported a GAAP loss per share of $0.49 for Q2 2026, impacted by $726 million in expenses related to the Emalex acquisition.
- 6
Non-GAAP diluted EPS was $0.02 for Q2 2026, and the company maintained its 2026 outlook for earnings and cash flow.
- 7
Teva announced the replacement of its American Depositary Share (ADS) program with the direct listing of its ordinary shares on the New York Stock Exchange, commencing September 14, 2026.
Management Comments
Richard Francis
Our second quarter reflects continued execution of our Pivot to Growth strategy. During the quarter, and into July, we advanced several value-creating assets, including two additional indications for duvakitug, demonstrating its pipeline-in-a-product potential, the acquisition and NDA submission of ecopipam (EBS-101), continued progress for olanzapine LAI, and expansion of our biosimilars pipeline through strategic collaborations. Our key Innovative brands collectively generated over $1 billion in revenues, continuing to transform Teva’s portfolio mix and financial profile. The breadth of these milestones underscores the increasingly diversified nature of Teva’s growth profile. We are strengthening our neuroscience and immunology pipeline, expanding access through biosimilars, and continuing to modernize the business to support sustainable, innovation-driven growth and long-term value creation for patients and shareholders.
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