Teva CEO: "The future looks especially promising; we are also looking at larger acquisitions"

Teva CEO Richard Francis said in an interview with Globes that the future looks especially promising, and that the company is considering larger acquisitions. Teva updated its revenue target for innovative drugs to $6-7 billion by 2030, and reported growth in cash flow and product pipeline. Francis addressed the discount on the company's stock, saying past challenges still linger, but the Teva name will be a mark of quality.

Teva CEO Richard Francis said in an interview with Globes that "the future looks especially promising" and that the company is considering larger acquisitions. The remarks came after Teva's R&D day in New York, where it presented updates on its innovative product pipeline. Teva updated its revenue target for innovative drugs by 2030 to approximately $6-7 billion, up from about $5 billion previously. The company presented a forecast for free cash flow of over $3.5 billion in 2030, compared to about $2 billion this year. Francis addressed the approximately 15% discount on Teva's stock relative to large biopharma companies, saying past challenges still weigh on the stock, but he believes that in the future the Teva brand will be "a mark of quality." He added that the company is disciplined in acquisitions and is looking for the right products at a fair price.