Teva Pharmaceutical Industries Ltd (NYSE: TEVA) is a global pharmaceutical company that develops, manufactures, and sells generic medicines, innovative branded medicines, biosimilars, and over-the-counter pharmaceutical products. Revenue comes from transactional product sales across three geographic segments: United States, Europe, and International Markets, with Anda, a U.S. distribution business, adding a wholesale distribution revenue stream. Teva operates as one of the largest generic drug manufacturers globally, with a branded innovative portfolio anchored by AUSTEDO (deutetrabenazine), AJOVY (fremanezumab), and UZEDY (risperidone). The United States segment generated gross profit of $5,618 million in FY2025, a 28% increase from $4,388 million in FY2024, with gross margin rising to 61.2% from 54.6%. The Europe segment generated gross profit of $2,747 million in FY2025, a 5% decrease from $2,905 million in FY2024. Teva's U.S. headquarters is in Parsippany, New Jersey, and its European principal offices are in Haarlem, the Netherlands. Richard Francis serves as CEO under the company's "Pivot to Growth" strategy, announced in May 2023.

Revenue model

Transactional product sales across generic medicines, branded innovative medicines, biosimilars, and OTC pharmaceuticals, organized into United States, Europe, and International Markets segments. Anda, the U.S. distribution subsidiary, generates revenue by distributing Teva and third-party pharmaceutical products to independent retail pharmacies, pharmacy chains, hospitals, and physician offices. Teva also receives contract manufacturing service revenue related to previously divested business lines, and received development milestone payments in FY2025 in connection with Phase 3 study initiation for duvakitug (anti-TL1A).

Products and services

Innovative medicines: AUSTEDO (deutetrabenazine, CNS), AJOVY (fremanezumab, migraine), UZEDY (risperidone, CNS), COPAXONE (glatiramer acetate, multiple sclerosis). Biosimilars: SELARSDI (ustekinumab-aekn), EPYSQLI (eculizumab-aagh), TRUXIMA (rituximab-abbs, oncology). Oncology: BENDEKA (bendamustine HCl). Respiratory: asthma and COPD product portfolio. Generic medicines pipeline in Europe included 622 generic approvals across 61 compounds in 125 formulations as of December 31, 2025, with approximately 1,537 marketing authorization applications pending in 37 European countries. API (active pharmaceutical ingredients) business, for which a divestiture process was reinitiated as of November 2025. Anda U.S. pharmaceutical distribution.

Customers and end markets

Independent retail pharmacies, pharmacy retail chains, hospitals, and physician offices in the United States served through Anda. End patients for branded CNS, migraine, oncology, and respiratory therapies. Generic drug buyers across retail and institutional channels in the United States, Europe, and International Markets. No individual customer concentration figures disclosed in the filing excerpts.

Value-chain role

Vertically integrated from API manufacturing and R&D through finished dosage form production, regulatory filing, and commercial distribution. API business supplies both internal manufacturing and external customers, though divestiture of the API segment is a stated strategic intention as of the FY2025 10-K filing. Anda operates as a downstream pharmaceutical distributor within the United States. Contract manufacturing services are provided for products divested in prior business line sales.

Geographic exposure

Three reportable segments: United States, Europe (European Union, United Kingdom, and certain other European countries), and International Markets. International Markets innovative medicines include launches in Canada, Japan, Australia, Israel, South Korea, Brazil, and China. AJOVY Europe segment revenues were $270 million in FY2025. Respiratory products in Europe were $227 million in FY2025. Principal U.S. offices in Parsippany, New Jersey; European offices in Haarlem, the Netherlands.

Source: SEC 10-K, filed 2026-02-03

Industry: Pharmaceutical Preparations Peers: Mediwound Ltd Sol Gel Technologies Ltd TARO PHARMACEUTICAL INDUSTRIES LTD