Matej Mikulic
Research expert covering health, pharma & medtech
Teva - Statistics & Facts
In 2023, Teva Pharmaceutical Industries Ltd. generated 15.8 billion U.S. dollars of revenue, which was almost one billion dollars more than in the preceding year. However, the company suffered a financial decline over the last years. In the last six financial years, Teva was profitable only once, in 2021. A major blow came in 2017 through an impairment charge, when the company reported a loss of more than 16 billion U.S. dollars. This was mainly due to significant shifts in the U.S. generics market which increased pricing pressure and competition. Additionally, the company divested several of its assets and products during the 2010s.
Generics remain the core business
Although Teva is also involved in the development of innovative and brand name drugs like Copaxone or Austedo, it is mostly known for its reputation of being one of the world’s largest manufacturers of generic drugs. In fact, it is currently the leading pharmaceutical company based on generic drugs sales, in front of companies like Novartis’ former subsidiary Sandoz and Viatris, established by the merger of Mylan with Pfizer’s Upjohn business. Traditionally, India is a stronghold of generic drug manufacturing, and thus several of Teva’s competitors are from the subcontinent: Sun Pharmaceuticals, Aurobindo, Cipla, and others. Teva also has biosimilars of several blockbuster drugs, among which are Humira and Eylea, in its pipeline.An eventful history
Teva’s roots can be traced back to a Jerusalem-based wholesale drug company named SLE (Salomon, Levin, and Elstein) Ltd., established in 1901. It was transformed to Teva Middle East Pharmaceutical & Chemical Works Co. Ltd. in the mid-1930s by a German-Jewish immigrant. During the Second World War, the company supplied medical goods to the Allied Forces, first to the British in the Middle East. Further, more recent steps were the opening of a new manufacturing plant in Jerusalem (2005) and several mergers & acquisitions. Among the most prominent deals were the acquisitions of German company Ratiopharm and U.S. companies Cephalon and Actavis. Teva was involved in several lawsuits over its role in the U.S. opioid epidemic, namely accused for too aggressive marketing, which resulted in multi-billion dollar settlements.
