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Jun 30
Teva Q2 2025 Earnings Report
Teva Pharmaceutical Industries Ltd. reported its second quarter 2025 earnings, demonstrating continued growth driven by its innovative product portfolio and progress towards its 'Pivot to Growth' strategy.
Key Takeaways
Teva delivered its 10th consecutive quarter of year-over-year revenue growth in Q2 2025, with total revenues reaching $4.2 billion. The company's innovative portfolio, including AUSTEDO, AJOVY, and UZEDY, significantly contributed to this growth, offsetting declines in generic products and COPAXONE. Teva also increased its 2025 revenue outlook for key innovative products and EPS, while reaffirming other financial guidance components.
Teva achieved $4.2 billion in revenues in Q2 2025, marking its 10th consecutive quarter of year-over-year growth.
The innovative portfolio, particularly AUSTEDO, AJOVY, and UZEDY, was the primary driver of revenue growth, with AUSTEDO global revenues at $498 million (+19% LC), AJOVY at $155 million (+31% LC), and UZEDY at $54 million (+120%).
GAAP diluted EPS was $0.24, and non-GAAP diluted EPS increased by 9% year-over-year to $0.66.
Free cash flow significantly increased by 47% year-over-year to $476 million in Q2 2025.
Teva
Teva
Teva Revenue by Segment
Teva Revenue by Geographic Location
Revenue by Segment
United States Revenue
CapyFin.comEurope Revenue
CapyFin.comInternational Markets Revenue
CapyFin.comOther Activities Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comEurope Revenue
CapyFin.comInternational Markets Revenue
CapyFin.com Forward Guidance
Teva has increased its 2025 revenue outlook for key innovative products (AUSTEDO, AJOVY, UZEDY) and non-GAAP diluted EPS, while reaffirming its overall revenue, non-GAAP operating income, Adjusted EBITDA, and free cash flow guidance for the full year 2025.
Positive Outlook
- Increased 2025 revenue outlook for AUSTEDO to $2,000 million - $2,050 million.
- Increased 2025 revenue outlook for AJOVY to $630 million - $640 million.
- Increased 2025 revenue outlook for UZEDY to $190 million - $200 million.
- Increased 2025 non-GAAP diluted EPS outlook to $2.50 - $2.65 (+$0.05 at the low-end).
- Reaffirmed 2025 free cash flow outlook of $1.6 billion - $1.9 billion.
Challenges Ahead
- The revised 2025 outlook excludes contribution from the Japan BV after Q1.
- The outlook does not reflect any potential policy shifts, including pharmaceutical sector tariffs, that could impact the business.
- AUSTEDO and AUSTEDO XR were selected for price-setting discussions by CMS, with revised prices expected to be effective January 1, 2027, creating uncertainty regarding future pricing.
- Volatile swings in foreign exchange rates can negatively impact revenue and income.
- The timing and structure of the planned divestiture of the API business remain uncertain, and there is no assurance it will be completed.
Revenue & Expenses
Visualization of income flow from segment revenue to net income