Report
Pierre François Merveille

Teva : New bond issuance, tenders and FCF to address near-term debt maturities

>Results and leverage should improve in 2023, successful product launches and litigation remain key risks on the name - After several years of decline, we expect revenues to return to stable to positive growth in 2023. Improving AJOVY and AUSTEDO revenues as well as new product launches should offset the persisting decline in COPAXONE sales and price pressure in the generics business in the US. We also believe that ongoing efficiency measures will help to contain cost...
Underlying
Teva Pharmaceutical Industries Limited

Teva Pharmaceutical Industries is engaged in the development, manufacturing, marketing and distribution of generic, specialty, and other pharmaceutical products. The Generic Medicines segment offers a range of basic chemical entities, as well as specialized product families such as sterile products, hormones, narcotics, high-potency drugs and cytotoxic substances, in both parenteral and solid dosage forms. Co.'s specialty medicines business is focused on delivering innovative solutions to patients and providers via medicines, devices and services, includes Co.'s core therapeutic areas of the central nervous system and respiratory medicines.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Pierre François Merveille

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