Teva Q1 2026: $700M Emalex acquisition announced; AUSTEDO growth offsets lenalidomide decline

Filed April 29, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

• high

  $700M acquisition of Emalex Biosciences adds Phase 3 Tourette syndrome asset ecopipam, with up to $200M in milestones and royalties. Deal expected to close Q3 2026, funded with cash on hand.

  MD&A: Emalex acquisition verify on EDGAR →
• high

  AUSTEDO revenues grew 41% YoY to $559M, now representing over one-third of U.S. segment revenues. Medicare price negotiation concluded in November 2025, with revised pricing effective January 1, 2027.

  MD&A: AUSTEDO performance and pricing verify on EDGAR →
• high

  U.S. generic revenues fell 28% YoY to $612M, driven by lenalidomide erosion from increased competition. Partially offset by biosimilar portfolio growth.

  MD&A: U.S. generics verify on EDGAR →