Teva Pharmaceutical Industries Limited (NYSE:TEVA) Q4 2023 Earnings Conference Call January 31, 2024 8:00 AM ET

Company Participants

Richard Francis - President, Chief Executive Officer

Eric Hughes - Executive Vice President, Global R&D, Chief Medical Officer

Eli Kalif - Executive Vice President, Chief Financial Officer

Ran Meir - Head of Investor Relations

Conference Call Participants

Glen Santangelo - Jefferies

Ash Verma - UBS

Jason Gerberry - Bank of America

Umer Raffat - Evercore

David Amsellem - Piper Sandler

Chris Schott - JP Morgan

Balaji Prasad - Barclays

Nathan Rich - Goldman Sachs

Oleksy Soroka - ING

Madison Aron - JP Morgan

Operator

Hello and welcome to the fourth quarter and full year 2023 Teva Pharmaceutical Industries earnings conference call. My name is Alex and I’ll be coordinating the call today.

If you’d like to ask a question at the end of the presentation, you can press star followed by one on your telephone keypad. If you’d like to remove your question, you may press star followed by two.

I’ll now hand it over to your host, Ran Meir, Head of Investor Relations. Please go ahead.

Ran Meir

Thank you Alex. Thank you everyone for joining us today. We hope you’ve had an opportunity to review our press release, which was issued earlier this morning. A copy of this press release, as well as a copy of the slides being presented on this call can be found on our website at tevapharm.com.

Please review our forward-looking statement on Slide No. 2. Additional information regarding this statement and our non-GAAP financial measures is available on our earnings release and in our SEC Forms 10-K and 10-Q.

To begin today’s call, Richard Francis, Teva’s CEO will provide an overview of Teva’s 2023 full year results and business performance, recent events, and our focus and priorities going forward, then Dr. Eric Hughes, our Head of R&D and Chief Medical Officer will discuss progress on our innovative pipeline. Our CFO, Eli Kalif will follow up by reviewing the fourth quarter financial results in more detail before providing an overview of Teva’s 2024 financial outlook.

Please note that today’s call will run approximately one hour.

With that, I will turn the call over to Richard. Richard?

Richard Francis

Thank you Ran, and welcome everybody. Thank you for joining the call today.

2023 was a transformational year for Teva. We launched our Pivot to Growth strategy to get Teva back to growth and I’m pleased to say it did exactly that. I would like to remind you that the Pivot to Growth strategy was based on four pillars: deliver on our growth engines, step up innovation, genetics powerhouse and focus our business, and we’re delivering on all four of these pillars, as I will go into in the presentation today. Obviously you saw today that we’ve decided to divest our TAPI business, and I’ll go into more detail later in the presentation.