- Teva’s 2023 Healthy Future Report highlights the Company’s
renewed sustainability strategy, which guides Teva in addressing
global challenges while also supporting its business, allowing for
the continued supply of medicines for patients
- New ambitious targets are centered on net zero emissions,
renewable electricity and a holistic approach to health system
strengthening and capacity building to support underserved
populations
- A second series of sustainability-linked bonds (SLBs), valued
at $2.49 billion, brought Teva’s SLB total to $7.5 billion—making
Teva the largest issuer in the pharmaceutical sector and the second
largest across all sectors worldwide
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today
published its 2023 Healthy Future Report, sharing its
actions to promote healthy people, a healthy planet and a healthy
business. The report unveils new targets to achieve net zero
emissions across Teva’s operations and value chain by 2045 and 100%
renewable electricity across all Teva sites by 2035, as well as to
reach 200% more total beneficiaries of health system strengthening
and capacity building initiatives in support of underserved
populations by 2026 (vs. 2022-23).
Healthy Future, Teva’s renewed sustainability strategy, is a
continuation of the Company’s environmental, social and governance
(ESG) journey and aligns with its Pivot to Growth strategy. Teva’s
2023 Healthy Future Report demonstrates how this new approach is
stronger, with enhanced action and transparency across areas
most important to Teva and its stakeholders; bolder, with a
clear focus on the six areas requiring the most attention to
advance sustainability at Teva and create long-term value; and
simpler, with a refreshed and simplified governance model to
further drive responsibility and ensure accountability.
“Operating in a sustainable way is the right thing to do,” said
Richard Francis, Teva’s President and CEO. “Our renewed
sustainability strategy is our purpose in practice—we are all in
for better health—and our 2023 Healthy Future Report shows how we
are taking action and tracking progress in areas where Teva can
uniquely make an impact.”
Last year, Teva issued a second series of sustainability-linked
bonds valued at $2.49 billion, bringing its total issuance to $7.5
billion and making Teva the largest issuer in the pharmaceutical
sector and the second largest across all sectors worldwide. The
Company’s sustainability progress is evidenced by its improved
scores from key rating organizations, including MSCI,
Sustainalytics, ISS ESG and EcoVadis, and recognition from ESG
Investing as Best Healthcare Company for Sustainability
Reporting.1
Getting more people the medicines they need
Based on an assessment of the Company’s economic impact, Teva’s
generic medicines contributed to $40.9 billion in savings across 20
countries in 2023. To help reach even more patients, Teva launched
two new access to medicines programs—in Spain and Chile—bringing
its total to seven and placing the Company ahead of schedule to
reach its goal of eight programs by 2025. Through its access to
medicines programs, Teva donated 18.8 million doses, worth $21.5
million, to patients around the world.
Taking action to protect the planet
Teva reduced its scope 1 and 2 greenhouse gas emissions by 27%
compared to 2019, achieving its 2025 target two years ahead of
schedule. Teva also reduced its scope 3 emissions by 12% (vs.
2020)—tracking strongly against its goal of a 25% reduction by
2030—and engaged its suppliers in reducing their emissions. The
Company announced ambitious goals of achieving net zero emissions
across its operations and value chain by 2045 as well as 100%
renewable electricity usage across all its sites by 2035. As a
result of its efforts and transparency, Teva received an A- score
from CDP for climate action.
Conducting business responsibly
Teva continued to instill a culture of integrity, publishing
Teva’s Integrity Hotline Complaints Procedure and training nearly
100% of targeted active employees on compliance and ethics. The
Company also holds its suppliers to high sustainability standards.
It evaluated 60% of significant suppliers on sustainability topics
and received an A score from CDP for supplier engagement.
Stepping up at a difficult time
As a global company headquartered in Israel, Teva and its
employees have been impacted by the events of October 7th and the
state of war declared in Israel. When the demand for medicines and
medical equipment increased, Teva responded to the need, while also
caring for its employees and communities. Teva’s employees in
Israel stepped up and volunteered more than 7,000 hours of their
time. Teva also established Support the Soul, a program to help
Israel’s therapists address the country’s unprecedented trauma.
Read more about Teva’s 2023 Healthy Future Report
here.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a
global pharmaceutical leader with a category-defying portfolio,
harnessing our generics expertise and stepping up innovation to
continue the momentum behind the discovery, delivery, and expanded
development of modern medicine. For over 120 years, Teva's
commitment to bettering health has never wavered. Today, the
company’s global network of capabilities enables its ~37,000
employees across 58 markets to push the boundaries of scientific
innovation and deliver quality medicines to help improve health
outcomes of millions of patients every day. To learn more about how
Teva is all in for better health, 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, 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.
Important factors that could cause or contribute to such
differences include risks relating to: our ability to impact and
effectively execute on our sustainability, social, economic,
environment and governance related strategies and goals;
environmental risks; failure to comply with applicable
environmental laws, health and safety laws and regulations
worldwide; our ability to select sustainability-related disclosure
frameworks that seek to align with various reporting standards
which may change from time to time; our ability to collect, measure
and report sustainability information and metrics, which is subject
to evolving reporting standards; our ability to satisfy the targets
set forth in our sustainability-linked senior notes, our
sustainability-linked revolving credit facility and in other
sustainability-linked financing instruments that we may issue; the
impact of sustainability issues and other environmental risks on
our business; and consequences of climate change; our ability to
successfully compete in the marketplace, including: that we are
substantially dependent on our generic products; 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, and
to sustain and focus our portfolio of generics medicines; our
substantial indebtedness; compliance, regulatory and litigation
matters, including: failure to comply with complex legal and
regulatory environments; other financial and economic risks; and
other factors discussed in our Annual Report on Form 10-K for the
year ended December 31, 2023, including in the sections captioned
“Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” and under similar captions in our other reports that we
file with the U.S. Securities and Exchange Commission.
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.
1 Corporate ESG awards interview 2023 teva pharmaceuticals. ESG
Investing. (2023, December 5).
https://www.esginvesting.co.uk/corporate-esg-awards-interview2023-teva-pharmaceuticals/#:~:text=Corporate%20ESG%20Awards%20Interview,2023%20Teva%20Pharmaceuticals&text=Teva%20Pharmaceuticals%20was%20awarded%20Best,Best%20Company%20for%20Social%20Responsibility
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