On January 29, 2026, Scotiabank reaffirmed its “Outperform” rating on Teva Pharmaceutical Industries and increased its 12-month price target from $35 to $40. The bank cited Teva’s strong seasonal performance in branded products and a recent milestone payment tied to a late-stage study in ulcerative colitis and Crohn’s disease. Scotiabank noted that Teva’s market capitalization of approximately $37.3 billion and average daily trading volume of 2.76 million shares reflect healthy liquidity and investor interest in the company’s generics-plus-innovation strategy.

In Q4 2025, Teva delivered total revenues of $4.71 billion, surpassing consensus estimates of $4.37 billion and representing 11% year-over-year growth in U.S. dollars (9% in local currencies). Adjusted earnings per share came in at $0.96, well above the Street’s $0.68 forecast and up from $0.71 a year earlier. The quarter’s performance was bolstered by a Sanofi-related milestone payment and strong uptake of key branded medicines, partially offset by divestiture-related declines in certain international markets.

For the first time, Teva’s three leading specialty products—Austedo, Ajovy and Uzedy—collectively generated roughly $1 billion in quarterly revenues. Austedo sales rose 34% to $2.26 billion, exceeding guidance of $2.05–$2.15 billion; Ajovy grew 30% to $673 million against a $630–$640 million range; and Uzedy climbed 63% to $191 million, above the $190–$200 million forecast. Looking ahead to fiscal 2026, management forecasts total sales of $16.4 billion–$16.8 billion, adjusted EPS of $2.57–$2.77, operating income of $4.55 billion–$4.8 billion and adjusted EBITDA of $5.0 billion–$5.3 billion. The company highlighted multiple late-stage pipeline readouts and a potential FDA approval for its long-acting olanzapine injection as catalysts for sustained growth.