Teva Pharmaceutical Industries Limited (TEVA) Announced Q1 2026 Earnings on April 29, 2026, Reporting "Our Q1 revenue were approximately $4 billion".

Teva Pharmaceutical Industries Limited reported Q1 2026 financial results with revenue of $4 billion.

For the quarter, GAAP net income was $360 million, and non-GAAP EPS reached $0.53.

Adjusted EBITDA reached $1.1 billion, and Q1 free cash flow was $188 million.

Non-GAAP gross margin in Q1 2026 was 52.9%, and the non-GAAP operating margin was 24%.

Management discussed continued progress on the Pivot to Growth strategy, highlighting the $700 million upfront cash agreement to acquire Emalex Biosciences.

This acquisition includes ecopipam, a first-in-class asset for pediatric Tourette syndrome.

The company noted that its innovative portfolio continues to drive growth, with Q1 AUSTEDO revenues reaching $559 million in the U.S. and UZEDY Q1 revenues reaching $63 million.

The generics pipeline continues to expand, with 11 biosimilar products currently on the market.

For full year 2026 forward guidance, Teva reaffirmed its 2026 outlook range on an underlying basis, excluding Emalex.

The company expects 2026 non-GAAP gross margin to be in the range of 54.5% to 55.5%, and operating expenses to be toward the higher end of the 27% to 28% range.

Management also reiterated AUSTEDO guidance of $2.4 billion to $2.55 billion for the year.

Teva expects to reach a 30% operating margin target by 2027.In pipeline updates, the company announced the EU submission for olanzapine LAI, which is also currently under FDA review.

Teva completed enrollment for the Phase III FLAIR program for its dual-action rescue inhaler, enrolling over 2,700 patients.

The company also highlighted 44-week maintenance data for duvakitug in ulcerative colitis and Crohn's disease, and anticipates upcoming milestone readouts for its anti-IL-15 program in vitiligo and celiac disease later this year.