Teva Pharmaceutical Industries announced a new strategic framework with four main pillars to position the Company for a new era of growth. This strategy aims to bolster the Company’s strong commercial portfolio with AUSTEDO®, AJOVY®, UZEDYTM and biosimilars, amplify its innovative pipeline, sustain its generics powerhouse and focus the business. These four pillars are expected to deliver enhanced value and create a greater impact for patients.
Teva’s President and Chief Executive Officer, Richard Francis, and additional members of Teva’s executive management team will provide a detailed overview of the Company’s new strategy during a live webcast today, May 18, 2023 at 12:00 p.m. ET. The live webcast of the event and presentation materials will be available on Teva's website here.
“Our new strategy is built on four key pillars to deliver short- and long-term growth from our commercial portfolio and biosimilars, innovative pipeline, generics powerhouse and focused capital allocation,” said Richard Francis, President and CEO, Teva. “With our Pivot to Growth strategy, I am confident we will gain momentum as a stronger, bolder and simpler organization.”
Deliver on Growth Engines
Teva expects to return to growth in the short term by accelerating its strong innovative portfolio and delivering on its promising biosimilars pipeline.
Teva expects to achieve annual revenues of more than $2.5 billion by 2027 for AUSTEDO, across its indications by addressing the unmet needs of a significantly under-diagnosed patient population and by expanding its coverage in key geographies. With UZEDY, the Company has an opportunity to reach a population of more than 600,000 patients living with schizophrenia with a best-in-class, differentiated therapy profile. Teva is additionally well-positioned to capitalize on its late-stage pipeline of biosimilars with 7 products in late-stage development and/or under regulatory review.
Step up Innovation
Teva aims to expand its innovative pipeline and focus on its core therapeutic areas of neuroscience, immunology and immuno-oncology, with assets aiming to be first-in-class and best-in-class.
The Company is already developing promising innovative assets, which will improve the standard of care for many patients worldwide and illustrate Teva’s unique capabilities in product formulation, complex devices and antibody engineering:
- Olanzapine LAI (44749) in phase 3 for schizophrenia has the potential to be a first long-acting olanzapine with favorable safety profile
- ICS/SABA (56248) in phase 3 for asthma is a de-risked fixed-dose addressing market needs and newest Asthma medical guidelines
- Anti-TL1A (48574) in phase 2 has the potential to be best-in-class for the underserved ulcerative colitis / Crohn’s disease market, as demonstrated by the data showcased by the Company.
Teva also sees promising application of its Attenukine technology – a new mechanism of action for high efficacy and low toxicity, for a broad array of immuno-oncology indications. The technology’s potential was demonstrated by the results of CD38-targeted Attenukine for multiple myeloma (out-licensed); and is being developed with a novel Anti-PD1-IL2 (56278) in oncology (in-house).
Additional assets within Teva’s promising innovative pipeline include:
- Anti-IL15 (53408) in Phase 1 for Celiac Disease
- Anti-PAR2 (56192) in Phase 1 in neuroscience
- Anle138b1 (56286) in Phase 1 for multiple system atrophy (MSA)
Teva also expects to more actively engage in business development opportunities to ensure pipeline-led, long-term growth.
Sustain Generics Powerhouse
Teva has a strong core generics business. The Company plans to continue to lead in generics and make it a sustainable powerhouse. Generics are the cornerstone of Teva’s success and heritage. Moving forward, the Company is committed to leveraging its unparalleled technological, development and clinical expertise to focus on a prioritized portfolio and pipeline of high-value generics opportunities. This would include mainly complex generics products, such as drug device combinations and long-acting injectables (LAIs).
Focus the Business
Teva has made decisive choices to focus its business and allocate resources on areas that show the greatest potential for growth and patient impact. Moving forward, the Company plans to increase its focus, optimize its businesses and its portfolio, and reallocate resources to fund growth. Teva is staying committed to continue serving its debt, and has reiterated its financial targets for 2027.
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