Teva's Goodwill Hits $29.55B, $500M Anti-TL1A Deal
Ticker: TEVJF · Form: 10-K · Filed: Feb 5, 2025 · CIK: 818686
| Field | Detail |
|---|---|
| Company | Teva Pharmaceutical Industries Ltd (TEVJF) |
| Form Type | 10-K |
| Filed Date | Feb 5, 2025 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 17 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: goodwill-impairment, collaboration, licensing
TL;DR
Teva's goodwill is $29.55B, got $500M for anti-TL1A drug. Big numbers!
AI Summary
Teva Pharmaceutical Industries Ltd. reported cumulative goodwill impairment of approximately $29.55 billion as of December 31, 2024, an increase from $28.3 billion in 2023. The company also recognized $500 million in upfront payments from a collaboration on its anti-TL1A asset within its United States segment revenues. These figures reflect significant financial activities and asset valuations for the fiscal year.
Why It Matters
The substantial goodwill impairment suggests potential overvaluation of past acquisitions, while the anti-TL1A collaboration highlights strategic moves in the biopharmaceutical pipeline.
Risk Assessment
Risk Level: medium — Significant goodwill impairment and contingent liabilities can indicate financial risks associated with past acquisitions and future obligations.
Key Numbers
- $29.55B — Cumulative Goodwill Impairment (As of December 31, 2024, indicating potential overvaluation of past acquisitions.)
- $500M — Upfront Payment (Received for anti-TL1A asset collaboration in the United States segment.)
Key Players & Entities
- TEVA PHARMACEUTICAL INDUSTRIES LTD (company) — Filer
- 20241231 (date) — Period of Report
- 20250205 (date) — Filing Date
- $29.55 billion (dollar_amount) — Cumulative goodwill impairment as of December 31, 2024
- $28.3 billion (dollar_amount) — Cumulative goodwill impairment as of December 31, 2023
- $27.6 billion (dollar_amount) — Cumulative goodwill impairment as of December 31, 2022
- $500 million (dollar_amount) — Upfront payment for anti-TL1A asset collaboration
FAQ
What is the total cumulative goodwill impairment for Teva Pharmaceutical Industries Ltd. as of December 31, 2024?
The cumulative goodwill impairment as of December 31, 2024, was approximately $29.55 billion.
How much revenue was generated from licensing arrangements in the United States segment related to the anti-TL1A asset?
Revenues from licensing arrangements in the United States segment were mainly comprised of a $500 million upfront payment received in connection with the collaboration on Teva's anti-TL1A asset.
What were the cumulative goodwill impairment figures for the preceding two years?
The cumulative goodwill impairment was approximately $28.3 billion as of December 31, 2023, and $27.6 billion as of December 31, 2022.
Where are contingent consideration liabilities recorded on Teva's balance sheet?
Contingent consideration liabilities are recorded under accrued expenses and other taxes and long term liabilities.
What does 'Other' revenues in the Europe segment primarily relate to?
'Other' revenues in the Europe segment mainly related to the sale of certain product rights.
Filing Stats: 4,365 words · 17 min read · ~15 pages · Grade level 17.4 · Accepted 2025-02-05 16:09:32
Filing Documents
- d865574d10k.htm (10-K) — 3684KB
- d865574dex108.htm (EX-10.8) — 142KB
- d865574dex1020.htm (EX-10.20) — 142KB
- d865574dex1023.htm (EX-10.23) — 58KB
- d865574dex19.htm (EX-19) — 87KB
- d865574dex21.htm (EX-21) — 8KB
- d865574dex23.htm (EX-23) — 2KB
- d865574dex311.htm (EX-31.1) — 10KB
- d865574dex312.htm (EX-31.2) — 10KB
- d865574dex32.htm (EX-32) — 4KB
- g865574g0127165931745.jpg (GRAPHIC) — 2KB
- g865574g67r24.jpg (GRAPHIC) — 107KB
- 0001193125-25-020826.txt ( ) — 19579KB
- teva-20241231.xsd (EX-101.SCH) — 155KB
- teva-20241231_cal.xml (EX-101.CAL) — 90KB
- teva-20241231_def.xml (EX-101.DEF) — 884KB
- teva-20241231_lab.xml (EX-101.LAB) — 993KB
- teva-20241231_pre.xml (EX-101.PRE) — 954KB
- d865574d10k_htm.xml (XML) — 3747KB
Forward-Looking Statements
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Quantitative and Qualitative Disclosures about Market Risk
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Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 90 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 179 Item 9A.
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Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 181 Item 13. Certain Relationships and Related Transactions, and Director Independence 181 Item 14. Principal Accounting Fees and Services 181 PART IV Item 15. Exhibits, Financial Statement Schedules 182 Item 16. Form 10-K Summary 186 Table of Contents INTRODUCTION AND USE OF CERTAIN TERMS Unless otherwise indicated, all references to the "Company," "we," "our" and "Teva" refer to Teva Pharmaceutical Industries Limited and its subsidiaries, and references to "revenues" refer to net revenues. References to "U.S. dollars," "dollars," "U.S.
quot; and "quot; are to the lawful currency of the United States of America, and references to "NIS" are to new Israeli shekels. References to "ADS(s)" are to Teva's American Depositary Share(s). References to "MS" are to multiple sclerosis. Market data, including both sales and share data, is based on information provided by IQVIA, a provider of market research to the pharmaceutical industry ("IQVIA"), unless otherwise stated. References to "R&D" are to Research and Development, references to "IPR&D" are to in-process R&D, references to "S&M" are to Selling and Marketing and references to "G&A" are to General and Administrative. Some amounts in this report may not add up due to rounding. All percentages have been calculated using unrounded amounts. This report on Form 10-K contains many of the trademarks and trade names used by Teva in the United States and internationally to distinguish its products and services. Any third-party trademarks mentioned in this report are the property of their respective owners. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS In addition to historical information, this Annual Report on Form 10-K, and the reports and documents incorporated by reference in this Annual Report on Form 10-K, may contain forward-looking statements within the meaning of the Private Securities Litiga