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Teva Pharmaceutical Industries Ltd (TEVA) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Teva Pharmaceutical Industries Ltd

CIK: 818686 Ticker: TEVA
 
 Exhibit 99.1

Teva Reports Fourth Quarter and Full Year 2021 Financial Results

TEL AVIV, Israel--(BUSINESS WIRE)--February 9, 2022--Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today reported results for the year and the quarter ended December 31, 2021.

  • Q4 2021 and FY 2021 highlights:

 

Q4 2021


FY 2021





 

Revenues

 

$4.1 billion


$15.9 billion

GAAP diluted EPS

 

$(0.14)


$0.38

Non-GAAP diluted EPS

 

$0.77


$2.58

Cash flow generated from operating activities

 

$456 million


$798 million

Free cash flow

 

$716 million


$2,196 million

  • 2022 business outlook:
    • Revenues are expected to be $15.6 - $16.2 billion
    • Non-GAAP diluted EPS is expected to be $2.40 - $2.60
    • Free cash flow is expected to be $1.9 - $2.2 billion

"In 2021 Teva delivered solid results, generating strong cash flow and improving our profitability. While COVID-19 continued to impact patient behavior and global prescribing patterns, we continued to optimize our supply chain and manufacturing capabilities to provide essential medicines to the millions of patients who rely on us throughout the world. We improved our gross and operating margin and reduced our net debt, keeping us on our path to achieve our 2023 long-term goals", said Mr. Kåre Schultz, Teva’s President and CEO.

Mr. Schultz continued: "Looking forward to 2022, we expect to see continued growth of our key products AUSTEDO® and AJOVY®, as well as to continue to advance our core business through the launch of high quality generic medicines around the world. We are also excited about the expected FDA approval and launch of Risperidone LAI, an important treatment for patients suffering from schizophrenia.

Regarding the recently announced settlement in the opioid-related litigation in Texas, Mr. Schultz stated, "I'm very pleased with the agreement we reached with the state of Texas, the second most populous state in the U.S. Not only does it mark a further step in resolving our legacy opioids litigations more broadly, but importantly also makes critical medicines part of the solution when addressing the opioids epidemic. While the agreement includes no admission of wrongdoing, it remains in our best interest to put these cases behind us and continue to focus on the patients we serve every day.”


The following information was filed by Teva Pharmaceutical Industries Ltd (TEVA) on Wednesday, February 9, 2022 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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Teva Pharmaceutical Industries Ltd's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Teva Pharmaceutical Industries Ltd's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income (Loss)
Certain Transactions
Certain Transactions (Tables)
Certain Transactions - Assets And Liabilities Held For Sale - Additional Information (Detail)
Certain Transactions - Business Acquisitions - Summary Of Major Classes Of Assets And Liabilities Included As Held For Sale (Detail)
Certain Transactions - Business Acquisitions - Summary Of Major Classes Of Assets And Liabilities Included As Held For Sale (Parenthetical) ( (Detail)
Certain Transactions - Other Transactions - Additional Information (Detail)
Commitments And Contingencies
Commitments And Contingencies - Commitments - Additional Information (Detail)
Commitments And Contingencies - Contingencies - Additional Information (Detail)
Debt Obligation - Schedule Required Annual Principal Payments Of Long-Term Debt, Excluding Debt Issuance Cost (Detail)
Debt Obligation - Schedule Required Annual Principal Payments Of Long-Term Debt, Excluding Debt Issuance Cost (Parenthetical) (Detail)
Debt Obligations
Debt Obligations (Tables)
Debt Obligations - Additional Information (Detail)
Debt Obligations - Schedule Of Senior Notes And Loans (Detail)
Debt Obligations - Schedule Of Senior Notes And Loans (Parenthetical) (Detail)
Debt Obligations - Schedule Of Short-Term Debt (Detail)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Additional Information (Detail)
Derivative Instruments And Hedging Activities - Information Regarding The Location And Amount Of Pretax (Gains) Losses Of Derivatives Designated In Fair Value Or Cash Flow Hedging Relationships (Details)
Derivative Instruments And Hedging Activities - Schedule Of Other Derivatives Not Designated As Hedging Instruments Statements Offinancial Performance And Financial Position Location (Details)
Derivative Instruments And Hedging Activities - Summary Of Classification And Fair Values Of Derivative Instruments (Detail)
Derivative Instruments And Hedging Activities - Summary Of Sold Receivables Outstanding Balance Net Of Dpp Asset Under Outstanding Securitization Program (Detail)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Tables)
Earnings (Loss) Per Share - Additional Information (Detail)
Earnings (Loss) Per Share - Schedule Of Earnings Per Share (Detail)
Equity
Equity (Tables)
Equity - Accumulated Other Comprehensive Income/(Loss) (Net Of Tax) (Detail)
Equity - Accumulated Other Comprehensive Income/(Loss) (Net Of Tax) (Parenthetical) (Detail)
Equity - Additional Information (Detail)
Equity - Schedule Of Number Of Rsus Issued And Outstanding (Detail)
Equity - Schedule Of Ordinary Shares Issued Upon Outstanding Options (Detail)
Equity - Schedule Of Ordinary Shares Issued Upon Vested Options (Detail)
Equity - Summary Of Company Expenses Compensation Costs Based On Grant Date Fair Value (Detail)
Equity - Summary Of Stock Option Activity (Detail)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Additional Information (Detail)
Fair Value Measurement - Summary Of Fair Value Of Financial Liabilities Measured Using Level 3 Inputs (Detail)
Fair Value Measurement - Summary Of Financial Instrument Measured On A Basis Other Than Fair Value (Detail)
Fair Value Measurement - Summary Of Financial Items Carried At Fair Value (Detail)
Financial Expenses, Net
Financial Expenses, Net - Schedule Of Financial Expenses (Detail)
Financial Expenses-Net (Tables)
Goodwill
Goodwill (Tables)
Goodwill - Summary Of Changes In The Carrying Amount Of Goodwill By Segment (Detail)
Goodwill - Summary Of Changes In The Carrying Amount Of Goodwill By Segment (Parenthetical) (Detail)
Identifiable Intangible Assets
Identifiable Intangible Assets (Tables)
Identifiable Intangible Assets - Additional Information (Detail)
Identifiable Intangible Assets - Summary Of Identifiable Intangible Assets (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Accumulated Other Comprehensive Income/(Loss) (Net Of Tax) (Detail)
Income Taxes - Additional Information (Detail)
Income Taxes - Schedule Of Defered Income Taxes (Detail)
Income Taxes - Schedule Of Defered Income Taxes (Parenthetical) (Detail)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities By Report Caption (Detail)
Income Taxes - Schedule Of Income Before Income Taxes (Detail)
Income Taxes - Schedule Of The Provision For Income Taxes (Detail)
Income Taxes - Schedule Of Unrecognized Tax Benefits (Detail)
Inventories
Inventories (Tables)
Inventories - Summary Of Inventories (Detail)
Leases
Leases (Tables)
Leases - Maturities Of Lease Liabilities (Detail)
Leases - Additional Information (Detail)
Leases - Components Of Lease Expense (Detail)
Leases - Supplemental Balance Sheet Information Related To Leases (Detail)
Leases - Supplemental Cash Flow Information Related To Leases (Detail)
Legal Settlements And Loss Contingencies
Legal Settlements And Loss Contingencies - Additional Information (Detail)
Long-Term Employee-Related Obligations
Long-Term Employee-Related Obligations (Tables)
Long-Term Employee-Related Obligations - Additional Information (Detail)
Long-Term Employee-Related Obligations - Schedule Of Long Term Employee Related Obligation (Detail)
Other Assets Impairments, Restructuring And Other Items
Other Assets Impairments, Restructuring And Other Items (Tables)
Other Assets Impairments, Restructuring And Other Items - Additional Information (Detail)
Other Assets Impairments, Restructuring And Other Items - Components Of Costs Associated With Restructuring Plan Including Costs Related To Exit And Disposal Activities (Detail)
Other Assets Impairments, Restructuring And Other Items - Schedule Of Other Assets Impairments, Restructuring And Other Items (Detail)
Other Assets Impairments, Restructuring And Other Items - Summary Of Restructuring Accruals (Detail)
Other Income
Other Income (Tables)
Other Income - Schedule Of Other Income (Detail)
Property, Plant And Equipment
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Additional Information (Detail)
Property, Plant And Equipment - Summary Of Property, Plant And Equipment, Net (Detail)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Additional Information (Detail)
Revenue From Contracts With Customers - Schedule Of Sales Reserves And Allowances (Detail)
Revenue From Contracts With Customers - Summary Of Disaggregation Of Revenues By Major Revenue Streams (Detail)
Schedule Ii Valuation And Qualifying Accounts (Detail)
Schedule Of Valuation And Qualifying Accounts
Segments
Segments (Tables)
Segments - Additional Information (Detail)
Segments - Schedule Of Net Sales By Product Line - Schedule Of Property, Plant And Equipment By Geographic Location (Detail)
Segments - Schedule Of Revenues By Major Products And Activities (Detail)
Segments - Schedule Of Sales Percentage By Therapeutic Category (Detail)
Segments - Summary Of Profit By Segments And Reconciliation Of Segments Profit To Consolidated Income Before Income Taxes (Detail)
Segments - Summary Of Segment Profit (Detail)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies - Additional Information (Detail)
Ticker: TEVA
CIK: 818686
Form Type: 10-K Annual Report
Accession Number: 0001193125-22-032667
Submitted to the SEC: Wed Feb 09 2022 4:07:52 PM EST
Accepted by the SEC: Wed Feb 09 2022
Period: Friday, December 31, 2021
Industry: Pharmaceutical Preparations

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