Teva Pharmaceutical Industries Limited · TASE:TEVA
Teva Pharmaceutical Industries — Corporate Update (February 2026)
25 slides from Teva Pharmaceutical Industries's corporate update, Feb 17, 2026
Slide 1: Duvakitug IBD Ph2b Maintenance Top-Line Results
teva Duvakitug IBD Ph2b Maintenance Top-Line Results February 17, 2026
Slide 2: Forward-looking statements
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our futu
Slide 3: President and Chief Executive Officer
President and Chief Executive Officer 3|
Slide 4: Key anticipated milestones for 2026
Assets Key anticipated milestone for 2026 Timing duvakitug UC/CD Phase 2 maintenance data H1’26 Vitiligo Phase 1b topline results H1'26 Anti-IL-15 Celiac Phase 2a topline results H2'26 DARI Targeted completion of pivotal Phase 3 studies H2'26 (ICS/SABA) emrusolmin Phase 2 futility analysis H2'26 ola
Slide 5: Pipeline assets and ambition to grow and accelerate
Peak sales Estimated Targeted submission Pipeline assets potential1 Market size2 Ambition to grow and accelerate pipeline olanzapine LAI Schizophrenia Preparing for launch Submitted Q4’25 LAI franchise DARI (ICS-SABA) Asthma Development at speed 2027 Phase 3 duvakitug (anti-TL1A) UC/CD UC/CD Phase 2
Slide 6: Executive Vice President, Global R&D & Chief Medical Officer
Executive Vice President, Global R&D & Chief Medical Officer 6|
Slide 7: IBD is a chronic inflammatory disease with limited remission rates
IBD is a chronic inflammatory disease Limited remission rate among patients Number of U.S., EU51 and Japan patients in thousands (2025) ~3.4M <50% of treated IBD patients achieve clinical Treated IBD patient remission, responsiveness can be lost over time2 Treated UC Up to 20% of UC patients require
Slide 8: Duvakitug mechanism: TL1A, DR3 and DcR3
DR3 receptor desirable to block DcR3 decoy receptor desirable to retain TL1A binds a second TL1A is a receptor, proinflammatory DcR3, leading to TL1A cytokine1 neutralization2 TL1A binds to its Duvakitug is a human receptor, DR3, to IgG1 monoclonal amplify immune antibody selected for its signals an
Slide 9: Best-in-class efficacy profile
Best-in-class Primary endpoint achieved at doses tested & regardless of prior efficacy profile advanced therapy experience. Favorable safety Comparable incidence of adverse events vs. placebo in RELIEVE and tolerability UCCD phase 2 induction study Low anti-drug 3% to 5% ADAs in RELIEVE UCCD phase 2
Slide 10: Induction study: UC clinical remission and CD endoscopic response
Ulcerative Colitis Crohn’s Disease Patients achieving of clinical remission Patients achieving endoscopic response 27.4%1 34.8%1 p=0.003 48% P<0.001 48% 15.7%1 p=0.050 36% 13.0%1 p=0.058 26% 20% 13% N = 22/46 N = 22/46 N = 12/46 N = 17/47 N = 9/44 N = 6/46 Placebo 450 mg 900 mg Placebo 450 mg 900 mg
Slide 11: Induction cross-trial comparison, UC and CD
Data reflect cross-trial comparisons and not head-to-head studies. Caution should be used when comparing data. Ulcerative Colitis Crohn’s Disease Clinical remission (placebo-adjusted rates) Endoscopic response (placebo-adjusted rates) Phase 2 Data Phase 3 Data Phase 2 Data Phase 3 Data 35% 29% 33% 2
Slide 12: Induction and maintenance study design
Induction Study (14 weeks) Response Criteria • Clinical Remission (per mMS): SFS UC ≤ 1, RBS = 0, and ES ≤ 1 without duvakitug 900mg Q2W (n = 92) friability) or, Responders • Clinical Response (per mMS): Randomization duvakitug | 450mg Q2W (n = 93) reduction from baseline ≥2 points and ≥30% in mMS w
Slide 13: Maintenance clinical remission and endoscopic response rates
Ulcerative Colitis Crohn’s Disease Maintenance study clinical remission rates among Maintenance study endoscopic response rates responders after induction among responders after induction 58% 55% 47% 41% 450 mg 900 mg 450 mg 900 mg Teva and Sanofi developed duvakitug in collaboration Clinical remiss
Slide 14: Maintenance cross-trial comparison, UC and CD
Data reflect cross-trial comparisons and not head-to-head studies. Caution should be used when comparing data. Ulcerative Colitis Crohn’s Disease Maintenance study clinical remission rates Maintenance study endoscopic response rates Phase 2 Data Phase 3 Data Phase 2 Data Phase 3 Data 55% 58% 50% 51%
Slide 15: Antibody design, induction and maintenance summary
Antibody Design1 Induction2 Maintenance3 Strong treatment effect High potency achieved for primary Durability of remission with endpoints in both UC and CD Q4 weekly dosing High response observed Consistent benefits observed among advanced treatment- across additional efficacy High selectivity endpo
Slide 16: First and only TL1A Phase 3 program design
First and only TL1A Phase 3 program to include1: Open-label feeder provides active treatment to all patients & facilitates enrollment UC Phase 3 Program Favorable randomization ratio provides active treatment to more patients CD Phase 3 Program All subcutaneous administration to maximize physician a
Slide 17: Potential class extension indications
Indication class Potential class extension* T2 Inflammation • Atopic Dermatitis • Asthma ROCHE1 unlocks • COPD • Eosinophilic esophagitis IL-4, IL-5 IL-13 Lead indications Non T2 Inflammation MERCK1 • Rheumatoid arthritis UC/CD as proof of • Ankylosing Spondylitis SPYRE1 principle to block TL1A ROCH
Slide 18: Key anticipated milestones for 2026
Assets Key anticipated milestone for 2026 Timing duvakitug UC/CD Phase 2 maintenance data H1’26 Vitiligo Phase 1b topline results H1'26 Anti-IL-15 Celiac Phase 2a topline results H2'26 DARI Targeted completion of pivotal Phase 3 studies H2'26 (ICS/SABA) emrusolmin Phase 2 futility analysis H2'26 ola
Slide 19: Presenters
President and Chief Executive Officer EVP, Global R&D & Chief Medical Officer EVP, Chief Financial Officer
Slide 20: Additional Information
teva Additional Information
Slide 21: Sanofi collaboration key terms
Key Terms Overall economics accelerated and enhanced by 50/50 Upfront signing $500 million in cash worldwide profit share Worldwide 50:50 R&D cost & profit sharing Up to $600 million upon Phase in major markets 3 studies’ initiations, including In other territories, selling party pays partner a roya
Slide 22: $1B paid by Sanofi to Teva, with $500M potential milestones
$1B paid by Sanofi to Teva, with $500M additional potential milestones $500m $600m $400m Paid after signing Development milestones Total launch milestones (received in Q4 2023) $500m for IBD Phase 3 $100m for each of 1st four initiations - $250m each for indications1 CD & UC (received in Q4 2025) $1
Slide 23: UC endpoint definitions
Endpoint Definition Classification mMS of ≤2 points defined by all 3: 1. stool frequency subscore of 0 or 1 (0-3) Clinical Remission Primary 2. rectal bleeding subscore of 0 (0-3), 3. endoscopic subscore of 0 or 1 (0-3), without friability Decrease from baseline mMS of ≥ 2 points AND 1. ≥ 30% decrea
Slide 24: CD endpoint definitions
Endpoint Definition Classification Endoscopic Response ≥ 50% decrease in SES-CD from baseline Primary Clinical Remission CDAI score <150 Secondary Clinical Response ≥ 100-point decrease in CDAI score from baseline Secondary ≥ 50% decrease in PRO2 (abdominal pain and stool Clinical Response (PRO2) Ex
Slide 25: Phase II UC and CD results by prior therapy experience
UC: Clinical remission (%) across trial arms, Ph II CD: Endoscopic response (%) across trial arms, Ph II 29% 26% 44% 25% 22% 12% 7% 25% 53% 48% 47% 47% 39% 36% 29% 28% 23% N = 13/27 N = 13/33 N = 17/32 N = 5/22 N = 5/14 N = 9/19 N = 9/19 N = 4/14 N = 8/29 11% 7% N = 1/15 4% N = 3/27 9/44 17/47 22/46
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