Since the publication of its financial results for 2024 at the end of January, the share price Teva Pharmaceutical Industries Ltd. (NYSE: Tifa;; level: Tiva) He fought for recovery, as about $ 6 billion from the maximum market has been eliminated, to the maximum of the current market of $ 18.8 billion. In 2024, the share of the Israeli pharmaceutical company was more weak. The financial results were actually positive, at the top of the analysts' expectations, but directing profits for 2025 the hope of the market.
TEVA CEO, Richard Francis, said he did not expect a harsh reaction from the market but he sees a positive aspect of him. “When we presented prediction, there were people who felt a little disappointment,” Francis said at the company's annual meeting with TV journalists in Tel Aviv. “The reaction we wanted or expected, but it indicates a change in Teva.
“Tiva is seen today as a company that can do more, and there is a change in its expectations, while in the past the question was whether Tifa could even stay and pay its debts, the question today about whether it can grow more.” Francis added, “We We invest in work. Our strategy is Teva's long -term growth, and you cannot achieve this without investing in the right areas.
Eight quarters of successive growth
Francis became the CEO of Teva at the beginning of 2023, after Kare Schultz stepped, after he led a wide -ranging simplification plan. Francis presented his strategic plan based on growth, including focus on the TEVA medications.
Francis said: “In 2023, the environment was difficult and this narration was two years later, we had eight quarters of successive growth, and we raised predictions twice, the innovative portfolio grows and lowered debts,” Francis said.
At the end of 2024, Teva's debt amounted to $ 17.8 billion ($ 14.5 billion in debt). From this, about $ 8.1 billion in 2025-2027 (mainly in the next two years) is scheduled to ripen the debt, although it is not under pressure to do so now. Recently, the company provided the cliff bulletin that allows it to version (property rights) or debt, which was also weighed on shares, due to concerns about mitigation. However, the company insists that there is no plan to raise the capital and the issuance bulletin has been presented to renew its validity.
Francis is enthusiastic about the TEVA mark, and provided the developments of prominent products. On Osdu (due to the late movement defects and Huntington's disease, analysts said in the past, “In the past, analysts believed that at its peak, the medicine will sell at $ 1.4 billion, today $ 2 billion. We said that we will reach $ 2.5 billion by 2027 and showed that we It can be achieved. “
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“People reduce the capabilities of Teva, despite the legacy of Copaxone. They used to say that Teva cannot develop brands with brand products, but we do it better than companies specialized in this field. We make things happen.”
On the drug that bears the Duvakitug brand, which develops Teva with Sanofi, to treat ulcerative colitis and Crohn's disease, which in December surprised strong clinical results, Francis said it can be expanded into other medical indicators. Francis noticed: “The results amazed people.” “We knew that we have the best product, and data shows it. This is the beginning of an exciting trip to bring the product to the market and meet an undesirable medical need.”
On Biosimilars, (a general version of a biological drug), he said: “We have been a little late for the biological party, but we are working to bridge the gap.” He also sees growth opportunities there. Regarding the princes, the traditional activity of TEVA, he said it will grow, and the company focuses on growth there.
Francis says that the year 2025 will be “more than the same”: “We know what to do: accelerate innovation, improve sites, and allocate money to growth.” He also pointed to the war and emphasized that the results were achieved despite the war, and that it is proud to support Tiva for citizens, especially in the field of mental health care.
It was published by Globes, Israel Business News – En.globes.co.il – on February 17, 2025.
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