Teva targets up to $7 billion in revenue from innovative drugs

In depth

Teva presented new financial targets for 2030: revenue of $6 to $7 billion from innovative drugs and free cash flow of more than $3.5 billion. According to the target, the company will launch one new drug each year.

CEO Richard Francis said at the company's first R&D day that its revenue from innovative drugs has more than doubled, and that it is building a pipeline with sales potential of more than $10 billion at peak. Seven advanced programs are in the development pipeline.

The plan includes increasing revenue from branded drugs, improving profitability margins and launching additional products, including in areas ranging from cancer treatment to celiac disease. Francis said the future looks especially promising and that the company is also looking at larger acquisitions. Teva's shares currently trade at a discount of about 15% relative to large biopharma companies.