Exhibit 99.1


Teva Reports Fourth Quarter and Full Year 2019 Financial Results

TEL AVIV, Israel--(BUSINESS WIRE)--February 12, 2020--Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today reported results for the year and the quarter ended December 31, 2019.

Full-Year 2019 and Q4 2019 Highlights:




 




 

 

FY 2019

 

Q4 2019





 

Revenues

 

$16.9 billion

 

$4.5 billion





 

Revenues prior to revision (*)

 

$17.5 billion

 

$4.6 billion





 

Cash flow from operating activities

 

$748 million

 

$538 million





 

Free cash flow

 

$2,053 million

 

$974 million





 

GAAP earnings (loss) per share

 

$(0.91)

 

$0.10





 

Non-GAAP EPS

 

$2.40

 

$0.62

(*)

 

Revision of prior period financial statements with respect to the distribution business in our International Markets segment, decreasing sales by $165 million in Q4 2019, and $642 million in 2019, with an offsetting decrease in cost of sales. No impact on gross profit, operating income, earnings per share or cash flows for the related periods.

  • Met all components of 2019 business outlook
  • Achieved spend base reduction target of $3 billion
  • AUSTEDO® rapid growth continues
  • AJOVY® launched in Europe; auto-injector approved in U.S. and E.U.
  • Launch of TRUXIMA®, Teva’s first U.S. biosimilar
  • 2020 business outlook:
    • Revenues are expected to be $16.6 - $17.0 billion
    • Non-GAAP EPS is expected to be $2.30 - $2.55
    • Free cash flow is expected to be $1.8 - $2.2 billion 

The following information was filed by Teva Pharmaceutical Industries Ltd (TEVA) on Wednesday, February 12, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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