Teva Pharmaceutical Industries Limited (TEVA) Bank of America Global Healthcare Conference 2026 September 23, 2026 5:55 AM EDT
Company Participants
Richard Francis – President, CEO & Director
Conference Call Participants
Jason Gerberry – BofA Securities, Research Division
Presentation
Jason Gerberry
BofA Securities, Research Division
Welcome to the BofA Global Healthcare Conference. It’s my pleasure to be introducing Teva Pharmaceuticals and President and CEO, Richard Francis. My name is Jason Gerberry, I’m a Pharma Analyst at BofA. I’ll be joining this presentation via tele-presence, unfortunately, but my colleague, Richard Wagner is on-site in person. So the two of us will go through this presentation. So first off, Richard, apologies for not being able to be there in person this year.
Richard Francis
President, CEO & Director
That’s okay. Good to have you on the screen, Jason.
Question-and-Answer Session
Jason Gerberry
BofA Securities, Research Division
Great. Well, maybe we can start with a few overarching general questions around Teva’s strategy, capital allocation, given the company’s recent improvement in its credit profile and overall, just the evolution of the business in the portfolio. So I thought it would be helpful to start with now that Teva has reached investment grade with three credit rating agencies, how does that change the view how the criteria for assets that the company might consider for future BD transactions. I know in the past, there was a laser focus on improving the debt profile. So does this in any way change how you think about maybe capacity? Can the company maybe be more opportunistic on the BD front? So maybe I think that would be a good place to start.
Richard Francis
President, CEO & Director
Yes. Okay. Thank you. So the fact that we got a credit rating of investment grade from all three of the credit rating agencies. And
