Teva Pharmaceutical reported fourth-quarter 2025 revenue of $4.71 billion, surpassing analysts’ consensus of $4.37 billion and marking an 11 percent year-over-year increase in U.S. dollars (9 percent in local currency). Adjusted EPS came in at $0.96, beating the $0.68 consensus and up from $0.71 a year earlier. Revenue growth was driven by development milestone payments tied to initiation of Phase 3 studies for duvakitug (anti-TL1A) and higher sales of innovative products, partially offset by lower International Markets revenue following the divestment of a Japanese business venture.

For the first time in company history, Teva’s three key brands—Austedo, Ajovy and Uzedy—collectively generated approximately $1 billion in quarterly revenue. Austedo sales rose 34 percent to $2.26 billion in full-year 2025, topping guidance of $2.05–$2.15 billion. Ajovy delivered $673 million (+30 percent local currency), above the $630–$640 million target, while Uzedy grew 63 percent to $191 million, marginally ahead of the $190–$200 million range.

Teva forecasts 2026 sales between $16.40 billion and $16.80 billion versus the Street’s $16.89 billion estimate, and adjusted EPS of $2.57–$2.77 compared with a $2.73 consensus. The company expects Austedo sales of $2.40–$2.55 billion, Ajovy revenue of $750–$790 million and Uzedy sales of $250–$280 million. Operating income is projected at $4.55–$4.80 billion, with adjusted EBITDA of $5.00–$5.30 billion.

Teva anticipates multiple late-stage readouts in immunology and neurology during 2026, including pivotal data for duvakitug, progress on anti-IL-15 programs and the expected FDA approval of olanzapine LAI. Management estimates these pipeline assets represent potential peak sales exceeding $10 billion, underscoring confidence in the company’s Pivot to Growth strategy and its evolution into a leading biopharmaceutical organization.