Teva Pharmaceutical Industries (TEVA) Proxy filing summary

Executive summary

• Advanced the Pivot to Growth strategy, focusing on innovative medicines, generics, biosimilars, and operational efficiency, achieving $17.3B in 2025 revenues and strong growth in key products like AUSTEDO, AJOVY, and UZEDY.

• Entered the Accelerate Growth phase, launched new biosimilars, and achieved significant clinical milestones, including NDA filings and Phase 3 trial initiations for late-stage pipeline assets.

• Reduced net debt to $13.3B by year-end 2025, improved credit ratings, and maintained disciplined capital allocation.

• Enhanced use of AI across R&D, manufacturing, and financial forecasting, with Board oversight on AI governance and risk.

Voting matters and shareholder proposals

• Shareholders will vote on: (1) re-election of Dr. Sol J. Barer as director until 2029, (2) advisory approval of executive compensation, and (3) appointment of Kesselman & Kesselman (PwC) as independent auditor until 2027.

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board comprises 12 members, 11 of whom are independent; recent refreshment added four new directors in five years.

• Board committees include Audit, HR and Compensation, Compliance, Finance and Investment, Science and Technology, and Corporate Governance and Nominating, all with independent members.

• Directors and executives are subject to robust stock ownership guidelines (7x annual fee for directors, 6x salary for CEO).

• Annual Board and committee self-evaluations and ongoing director education are conducted.