Teva Reaches Investment Grade With S&P BBB- Upgrade

Tel Aviv, Israel, September 4, 2026

S&P Upgrade Reflects Teva’s Financial Progress

The S&P decision represents a significant development in Teva’s financial position as the company continues its transformation into an innovative biopharmaceutical company supported by its global generics business. According to Teva, S&P highlighted the company’s sustainable growth prospects, citing strong execution in branded products, stabilization of its generics business, and a pipeline containing significant late-stage assets. The rating agency’s move from BB+ to BBB- brings Teva into investment-grade status under S&P’s rating framework, while the Stable outlook indicates that the agency currently maintains a stable assessment of the company’s credit profile. Teva’s Chief Financial Officer Eli Kalif said the three rating upgrades achieved within a few months reflect the company’s execution of its Pivot to Growth strategy, meaningful debt reduction, and efforts to strengthen its financial profile. Teva said the improved credit standing is expected to provide greater financial flexibility, potentially supporting investment in growth opportunities while allowing the company to continue executing its long-term strategy. The company has been emphasizing growth in innovative medicines while maintaining the scale and reach of its generics and biosimilars operations.

Teva Strengthens Position Across Innovative Medicines

The improved credit profile comes as Teva continues to advance a diversified pharmaceutical portfolio spanning innovative medicines, generics, biosimilars and complex pharmaceutical products. The company has identified neuroscience and immunology among its important innovative medicine areas while continuing to leverage its established global generics business. Teva’s recent development activities include advancing late-stage pipeline assets and expanding its presence in biosimilars, supporting the company’s broader strategy to create multiple sources of sustainable pharmaceutical growth. The company’s financial progress also follows other recent milestones. In May 2026, Fitch upgraded Teva to investment grade, while Moody’s followed with an investment-grade upgrade in August 2026. The S&P decision therefore completes what Teva describes as a trio of rating upgrades within a relatively short period. Together, the actions reflect improving assessments of the company’s credit quality and financial discipline as Teva works to reduce leverage and strengthen its balance sheet.

Investment-Grade Status Could Support Future Growth

Achieving investment-grade ratings across the agencies covering its debt could have broader implications for Teva’s pharmaceutical growth strategy. A stronger credit profile can improve financial flexibility and potentially support the company’s ability to invest in research and development, business development, manufacturing capabilities and other strategic initiatives. For a company operating across innovative medicines, generics and biosimilars, maintaining financial capacity can be important for advancing clinical programs and supporting commercialization activities across global markets. The latest S&P upgrade does not represent a drug approval, clinical trial result or regulatory authorization, but it is nevertheless a notable development for the pharmaceutical industry because financial strength can influence a company’s ability to execute long-term research and commercial strategies. Teva said its improved financial position provides additional flexibility to invest in growth and deliver long-term value. The company continues to pursue its Pivot to Growth strategy while advancing its pharmaceutical portfolio and strengthening its position across key healthcare markets.

Source: Teva Pharmaceutical press release