Teva presents goals for 2027: sales of 2.5 billion dollars for Estado and reaching 600 thousand schizophrenia patients with UZEDY

Teva Company

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presents a strategic plan under the new CEO with goals for 2027. The company wants to reach $2.5 billion in sales for Ostado. In 2022, Teva brought in $971 million from the Ostado drug, and it expects revenues of $1.2 billion in 2023, which means it expects sales to double Within 5 years, or a growth of 16% per year, which will result from “expansions in key geographic areas”, and this at the same time that it “remains committed” to servicing its debt which stood at the end of the last quarter at 20.7 billion dollars.

The second significant engine that Teva marks for itself is reaching more than 600,000 schizophrenia patients with UZEDY. And also says that she wants to take advantage of her generic drugs, her biosimilars where she is in late stages for the development of 7 products or regulatory tests.

Teva divides the phases into 3: the coming year and the next (2024) will be years of ‘return to growth. The years 2025-2027 will be the ‘acceleration of growth’ and from 2028 onwards it hopes to reach a state of ‘sustaining growth’.

What other drugs does the company hope to release in the future?

The company is talking about Olanzapine LAI which is in phase 3 for schizophrenia, about ICS/SABA in phase 3 for asthma, fixed dose reduced risk, Anti-TL1A in phase 2 for the ulcerative colon market/Crohn’s disease.

The company also marks a “promising application” of the Attenukine technology – when, according to the selection, it is a “mechanism of action for high efficiency and low toxicity, for a wide range of immuno-oncological indications”. According to her, the technology’s potential has been demonstrated for multiple myeloma (unlicensed) and is being developed with Anti-PD1-IL2 in oncology (in-house).

Teva also expects to release in the future Anti-IL15 which is in phase 1 for celiac disease, Anti-PAR2 in phase 1 in neuroscience, as well as Anle138b1 in phase 1 for multiple system atrophy (MSA).

Teva will present its full strategy this evening in an investor call it will hold at 19:00 Israel time.

Richard Francis, President and CEO of Teva: “Our new strategy is based on four key long-term pillars to create growth in the short and long term – from the commercial portfolio, the origin drug pool, the generic power center and focus on the allocation of resources. With this strategy of returning to the path of growth, I am convinced that we will continue to generate momentum as a stronger, more innovative and more efficient company.”

Teva talks about “a return to growth by accelerating a strong portfolio of innovative drugs, expanding the pipeline and focusing on core therapeutic areas with first-class opportunities” as well as a generic powerhouse based on high-value products and focusing the business on the areas with the greatest potential for growth.

In the reports it published a week ago, Teva bypassed the top line and missed out on the profit line, but did not update the forecast for the entire year. Teva earned 40 cents compared to expectations for 56 cents per share in the first quarter; It lost 128 million dollars from exchange rate fluctuations, despite hedging transactions, but expected an improvement in gross profitability “in the coming quarters”. In the revenue line, the company overtook when it brought in 3.66 billion dollars, above analysts’ expectations for 3.63 billion dollars.

Let’s recall that a year ago, during the time of the previous CEO Kar Schulz, Teva presented another strategic plan (and jumped more than 20% that day). It expected annual growth of 5% in the next 5 years. In the same conversation, Schulz said: “The market The generic will grow by 4% every year, covering 80% of the products that go off patent.” Teva estimates that patents for source drugs worth $188 billion will expire in the next 5 years, and its debt-to-loss ratio will drop to 2 in 5 years (since a year has passed of course).

Teva shares are now up 3.4%, they are trading at a price of NIS 30.6 per share and a market value of NIS 34 billion.