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Teva Returns To Growth For First Time In Six Years

 
• By Alaric DeArment

The company also announced plans to divest its active pharmaceutical ingredients (API) business as part of its ‘Pivot to Growth’ strategy.

Teva's US headquarters in Parsippany, NJ • Source: Shutterstock

After years of hardship marked by disappointing sales, cost cutting and legal challenges, Teva Pharmaceutical Industries Ltd. returned to growth in 2023 for the first time since 2017. Not only did the company’s top line grow, but it exceeded the upper bound of the range of the financial guidance management laid out at the start of the year.

The company said it expects to continue on the growth path, with the stabilization of its North American generics business, the launch of multiple biosimilars over the next several years...

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