After a two-year hiatus: 'Teva' returns to the prestigious global list

After a two-year hiatus, the Israeli pharmaceutical corporation Teva returned to the Fierce Pharma website's list of the 20 most profitable pharmaceutical companies in the world for the past year, when the pharmaceutical company Pfizer lost the top spot due to the decline in sales of the corona vaccines.

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Teva ranks 19th on the list with revenues of $15.8 billion in 2023, compared to $14.9 billion the year before. The Israeli pharmaceutical giant appeared on the list for 12 consecutive years, but was pushed out of it in 2021 and 2022 in favor of Biontec and Moderna, which recorded high revenues thanks to the corona vaccines.

The site noted that Teva has suffered from declining revenues for five years, but the new CEO, Richard Francis, has helped establish a new growth strategy that focuses on business development and reducing reliance on generic drugs. According to the site, Teva expects to continue increasing sales this year, with the forecast being for revenues of $15.7 billion to $16.3 billion.

The Pfizer company lost the first place in the list due to a 41 percent decrease in revenues last year, and this is due to the decrease in sales of the corona vaccines and anti-corona drugs that reached a profit of 12.5 billion dollars compared to 56.7 billion dollars in 2022. The first place was reached by the Johnson & Johnson company which recorded a 6.5 percent increase in revenues that reached 85.2 billion dollars.