Fitch Upgrades Teva to Investment Grade Amid Pivot to Growth Execution

TEL AVIV, Israel, May 18, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today announced that Fitch Ratings Agency (“Fitch”) has raised the Company's corporate credit rating to Investment Grade BBB-, with a stable outlook, from BB+.

“This strong endorsement, our third upgrade from Fitch in less than two years, underscores Teva’s transformation journey and execution of its Pivot to Growth strategy, as well as shows confidence in our increasing financial flexibility” said Eli Kalif, Teva’s Chief Financial Officer.

Fitch has also upgraded its ratings on Teva's senior unsecured debt and credit facilities to BBB- from BB+.

Fitch’s report highlights Teva’s sustained progress in strengthening financial flexibility and advancing its transition toward a higher-margin innovative and biosimilar portfolio. Fitch expects continued growth in innovative revenues, led by AUSTEDO® and AJOVY®; as well as contributions from recently launched products such as UZEDY® and upcoming launches, including olanzapine LAI, subject to regulatory approval. Fitch also expects Teva’s efficiency programs and portfolio shift to support its operating margin improvement and continued strong cash generation. Fitch further noted Teva’s ongoing balance sheet strengthening, supported by sustained cash flow generation, enhancing financial flexibility.

Teva is currently rated BB+ with stable outlook by S&P Global Ratings and Ba1 with positive outlook by Moody’s Investors Service.

About Teva 
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com. 

Cautionary Note Regarding Forward-Looking Statements  
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our financial guidance, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, 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. These forward-looking statements include statements concerning our plans, strategies, objectives, future performance and financial and operating targets, and any other information that is not historical information. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to continue and improve our financial ratings; our ability to develop and commercialize additional pharmaceutical products such as olanzapine LAI; competition for our innovative medicines; our ability to achieve expected results from investments in our product pipeline; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, to sustain and focus our portfolio of generic medicines, and to execute on our organizational transformation and to achieve expected cost savings; our significant indebtedness; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in this Press Release, in our Quarterly Report on Form 10-Q for the first quarter of 2026 and in our Annual Report on Form 10-K for the year ended December 31, 2025, including in the sections captioned “Risk Factors” and “Forward-looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.