Ten years after the crisis, Teva finally shakes off Copaxone's influence

Ten years after the severe crisis that hit it, Teva is shaking off the influence of Copaxone and presenting a new strategy under CEO Richard Francis. The company has moved to trading in common shares on the New York Stock Exchange, its stock has quadrupled in five years, and it is trading at a value of about $45 billion. For the first time in a decade, Teva has a clear strategy, low debt, and an investment grade rating, and it is focusing on developing new drugs for chronic diseases.

Ten years after the crisis that nearly dismantled it, Teva is finally shaking off the influence of Copaxone and presenting a new strategy under CEO Richard Francis. The company has moved to trading in common shares on the New York Stock Exchange, a technical step with business and symbolic significance, which will allow it to approach institutional investors in the US and be included in major indices. Teva's stock has quadrupled in the last five years, from $10 to $38, and it is trading at a value of about $45 billion. For the first time in a decade, Teva has a clear strategy, low debt, and an investment grade rating from all major rating agencies. Francis, who previously managed the competitor Sandoz, formulated a "Beyond Growth" plan focusing on developing new drugs for chronic diseases such as Crohn's, colitis, Tourette's, vitiligo, and celiac. The main star is Austedo for treating tardive dyskinesia, with expected revenues of $2.5 billion in 2027. Alongside it, Ajovy for migraines and Combo for schizophrenia. About half of Teva's revenues still come from the generic and stable market, but the company is focusing on biosimilars. The article quotes Eli Kalif, CFO, and Eyal Deshe, former CFO, who praise Francis.