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梯瓦制药Teva Pharmaceutical Industries(TEVA)2025年第四季度及全年业绩投资人演示文稿「NYSE」(英文版)(71页).pdf

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1、Teva Pharmaceutical Industries Ltd.January 28,20262|This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995,which are based on managements current beliefs and expectations and are subject to substantial risks and uncertainties,

2、both known and unknown,that could cause our future results,performance or achievements to differ significantly from that expressed or implied by such forward-looking statements.Important factors that could cause or contribute to such differences include risks relating to:our ability to successfully

3、compete in the marketplace,including:that we are substantially dependent on our generic products;concentration of our customer base and commercial alliances among our customers;competition faced by our generic medicines from other pharmaceutical companies and changes in regulatory policy that may re

4、sult in costs and delays;delays in launches of new generic products;our ability to develop and commercialize additional pharmaceutical products in a timely manner;intense competition for our innovative medicines;our ability to achieve expected results from investments in our product pipeline;our abi

5、lity to successfully execute our Pivot to Growth strategy,including to expand our innovative and biosimilar medicines pipeline and profitably commercialize our innovative medicines and biosimilar portfolio,whether organically or through business development,to sustain and focus our portfolio of gene

6、ric medicines,and to execute on our organizational transformation and to achieve expected cost savings;and the effectiveness of our patents and other measures to protect our intellectual property rights;our significant indebtedness,which may limit our ability to incur additional indebtedness,engage

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1. **业绩增长**:2025财年营收172.58亿美元(同比+4%),调整后EBITDA 53.05亿美元(+11%),自由现金流23.96亿美元(+16%),非GAAP每股收益2.93美元(+18%)。 2. **创新业务驱动**:AUSTEDO营收22.17亿美元(+35%),AJOVY 6.73亿美元(+30%),UZEDY 1.91亿美元(+63%);生物类似药目标2027年翻倍至8亿美元。 3. **管线进展**:重点项目包括duvakitug(抗TL1A,UC/CD II期数据H1’26)、olanzapine LAI( schizophrenia III期)、emrusolmin(MSA II期)。 4. **财务目标**:2027年目标营收中单位数增长,运营利润率30%,净债务/EBITDA降至2.0x,自由现金流超27亿美元。 5. **风险提示**:依赖仿制药、竞争加剧、政策变化(如美国OBBBA法案)、债务压力及供应链风险等。
**Teva增长引擎?** **创新药有何突破?** **财务目标如何实现?**
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