PETAH TIKVA (dpa-AFX) - Teva Pharmaceutical Industries Ltd. (TEVA) said it targets to generate $6-7 billion in innovative medicines revenue by 2030. The company projects innovative gross margins target of above 75%, with the mix shift driving margin expansion.
The company expects mid-single-digit growth in total revenue from 2026 to 2030. Free cash flow target is more than $3.5 billion by 2030.
'Our R&D engine and commercial excellence are designed to translate proven science into new medicines, with the potential for one new launch annually through 2030, driving revenue growth, margin expansion and strong cash generation,' said Richard Francis, Teva's CEO.
Teva said the next wave of growth drivers supporting its growth ambition beyond 2030 are: Anti-IL-15; Anti-PD-1/IL-2 ATTENUKINE; and next generation antibodies. Teva is advancing its early-stage pipeline with next-generation precision antibodies, including anti-TSLP/IL-13 and anti-TL1A/IL-23.
In pre-market trading on NYSE, Teva shares are up 1.82 percent to $43.17.
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