Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has filed a shelf prospectus with the US Securities and Exchange Commission (SEC) that will allow it to issue a variety of securities, including American Depositary Shares (ADSs), debt securities, purchase contracts, and units. The prospectus at this stage does not require the company to actually go ahead with the offering, but if it does the funds will be used for general business purposes, working capital and debt repayments.
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As of the end of 2024, Teva's debt was $17.8 billion, down from $19.8 billion at the end of 2023, due to debt payment of $1.6 billion and exchange rate fluctuations that had a positive impact on the debt. Net debt was $14.5 billion. Teva benefited from the upgrade of its debt ratings by the major ratings agencies.
Teva has not raised capital since it acquired Actavis from Allergan in 2016 – a deal worth nearly $40 billion and for which Teva raised mainly debt, which later mired the company in crisis.
In 2025, Teva faces debt repayments totaling $1.8 billion (some in Swiss francs and euros), and in 2026-2027, debt repayments are higher, reaching $3.4 billion and $2.9 billion, respectively.
Teva, led by CEO Richard Francis, is traded on the TASE and NYSE with a market cap of $19.8 billion.
Published by Globes, Israel business news – en.globes.co.il – on February 9, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
