NEW YORK, March 6, 2026, 05:58 EST.
- Teva’s CEO Richard Francis offloaded 442,935 shares at a weighted average of $32.3599, bringing in roughly $14.3 million, a U.S. filing showed. The sale was to handle tax withholding tied to vested stock awards.
- Piper Sandler bumped its price target for Teva to $41, up a dollar from $40, following talks with management, and left its overweight call unchanged.
- Teva faces a hit of over $1 billion in generic Revlimid sales erosion expected for 2026, and the company is banking on branded drug growth plus a Blackstone-supported inflammatory bowel disease program to help fill the gap.
Richard Francis, CEO of Teva Pharmaceutical Industries, unloaded 442,935 ordinary shares for roughly $14.3 million, according to a Thursday U.S. securities filing. The document indicates the stock sale was made to handle tax withholding tied to vested restricted share units, which are a form of stock compensation.
Piper Sandler bumped its price target on Teva to $41 from $40 this Wednesday, sticking with its overweight call after talking with management. Investors now have two new cues to weigh: a tax-related insider sale and a broker note flagging momentum in Teva’s sales and profit outlook as the company shifts more decisively away from generics.
Teva’s shares trading in the U.S. changed hands at $31.75 ahead of Friday’s open, marking a 3.5% drop from where they settled previously, market data showed.
The filing details Francis offloaded 30,903 shares and another 412,032 shares at a weighted average price of $32.3599, following the vesting of two separate awards on March 3. These trades were executed under a Rule 10b5-1 plan, the preset schedule he put in place on Nov. 14, 2025. Afterward, Francis retained 1,121,382 shares in direct ownership, according to the filing.
Piper Sandler’s David Amsellem said management zeroed in on neuroscience, immunology, biosimilars, and the company’s research pipeline, plus where they’re putting capital to work. He sees a path for Teva to grab a higher valuation as the outlook for sales and core profits becomes more visible.
Teva’s push has been underway since January, after the company topped fourth-quarter forecasts with $4.71 billion in revenue. That number got a lift from a $500 million milestone payment from Sanofi, linked to a late-stage trial in ulcerative colitis and Crohn’s disease. “We have transitioned the company from pure-play generics to a biopharma,” Richard Francis told Reuters at the time. The company’s branded drugs—Austedo, Ajovy and Uzedy—delivered $3.1 billion of 2025 revenue. Reuters
Teva and Blackstone Life Sciences announced March 3 that Blackstone will inject $400 million over four years into duvakitug, Teva’s late-stage candidate for ulcerative colitis and Crohn’s, developed with Sanofi. Teva’s business development chief, Evan Lippman, called it proof the company is “turning strategy into action” without sacrificing financial strength. Teva Pharmaceutical Industries
The funding doesn’t come without strings attached. Teva said Blackstone stands to collect regulatory and commercial milestone payments, plus low-single-digit royalties if duvakitug gets cleared. The companies also pointed out that regulators haven’t yet evaluated duvakitug’s safety or effectiveness. Earlier this year, in January, Teva flagged that it’s bracing for sales of its generic Revlimid to drop by over $1 billion in 2026 as competition intensifies.
Sanofi plans to team up on developing duvakitug and, pending approval, would jointly market the drug—offering Teva some external muscle behind a major pipeline hope. The challenge for the Israeli company, however, hasn’t shifted: it still needs to demonstrate that fresh branded and biosimilar launches can offset mounting pressure on legacy generic lines.
