Teva Pharmaceutical Industries Ltd (TEVA) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

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Teva Pharmaceutical Industries Ltd
Ticker: TEVA CIK: 818686

Exhibit 99.1

Teva Reports Fourth Quarter and Full Year 2020 Financial Results

TEL AVIV, Israel--(BUSINESS WIRE)--February 10, 2021--Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today reported results for the year and the quarter ended December 31, 2020.

Q4 2020 and FY 2020 highlights:
	Q4 2020	FY 2020
Revenues	$4.5 billion	$16.7 billion
Cash flow from operating activities	$331 million	$1,216 million
Free cash flow	$471 million	$2,110 million
GAAP earnings (loss) per share	$0.14	$(3.64)
Non-GAAP EPS	$0.68	$2.57

2021 business outlook:
- Revenues are expected to be $16.4 - $16.8 billion (2020 actual results include ~$240 million in revenues from generic products in Japan divested on February 1, 2021, along with a manufacturing site)
- Non-GAAP EPS is expected to be $2.50 - $2.70
- Free cash flow is expected to be $2.0 - $2.3 billion

"In 2020, Teva continued to provide essential medicines to millions of patients around the world every day, and despite the COVID-19 pandemic challenges, we saw minimal impact on our supply chain, R&D programs and product launches. Following a strong fourth quarter performance, we have met all components of our 2020 financial guidance," said Mr. Kåre Schultz, Teva’s President and CEO.

"Our key growth drivers delivered promising results and milestones, including the continued growth of AUSTEDO^® and our leading biosimilar TRUXIMA^®, as AJOVY^® sales continued to improve following the launch of the auto-injector. Our generic performance was boosted by the successful launch of the generic versions of HIV-1 treatments Truvada^® and Atripla^® tablets in the U.S. We have also taken steps to strengthen our biopharmaceutical pipeline, with a biosimilar commercialization agreement, and are advancing other pipeline assets, including the recently announced positive results from the phase 3 trial of risperidone extended-release injectable for patients with schizophrenia."

Mr. Schultz continued, “Looking ahead, we will continue to optimize our manufacturing network, portfolio and pipeline, improve our profitability and generate cash, as we remain on track to repay our debt and achieve our long-term financial targets."

The following information was filed by Teva Pharmaceutical Industries Ltd (TEVA) on Wednesday, February 10, 2021 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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