• Blackstone Life Sciences will provide $400 million to support development of duvakitug, a human monoclonal antibody targeting TL1A
• Duvakitug is currently in phase 3 clinical studies for ulcerative colitis (UC) and Crohn's disease (CD)
• Agreement supports Teva's Pivot to Growth strategy to accelerate its innovative pipeline and drive long-term growth

PARSIPPANY, N.J. and CAMBRIDGE, Mass., March 03, 2026 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) and funds managed by Blackstone Life Sciences (“BXLS”) today announced a $400 million strategic funding agreement spread across four years to support the continued clinical development of duvakitug. Additionally, under the terms of the agreement, BXLS will be eligible for regulatory and commercial milestones as well as royalties on duvakitug worldwide sales.

“Today's announcement highlights how we are turning strategy into action under Pivot to Growth,” said Evan Lippman, Executive Vice President, Business Development, Teva. “By pursuing disciplined, capital-efficient partnerships, we are accelerating pipeline advancement while maintaining financial strength. This is the model we will continue using to build a more innovative, resilient, and growth-oriented Teva.”

Duvakitug is a human monoclonal antibody targeting TL1A, a promising target with the potential for broad therapeutic application across multiple indications. Under a separate and independent agreement announced in 2023, Teva is co-developing and, subject to regulatory approval, will be co-commercializing this asset with Sanofi. Duvakitug is currently in phase 3 clinical studies for the treatment of UC and CD. Both companies recently announced phase 2b duvakitug maintenance data demonstrating clinically meaningful durable efficacy in UC and CD.

“We are excited to partner with Teva and support their innovation priorities as they advance a critical new product to patients who have significant unmet need,” said Dr. Nicholas Galakatos, Global Head of BXLS. “This transaction further demonstrates our focus on partnering with leading biopharmaceutical companies to execute their growth initiatives.”

“Duvakitug has the potential to be a best-in-class therapy in a large and growing space, and the Teva and Sanofi teams are well positioned to develop and commercialize this important medicine,” said Paris Panayiotopoulos, Senior Managing Director, BXLS. “In line with our mission, we are delighted to partner with Teva on their Pivot to Growth strategy and to help bring duvakitug to patients as soon as possible.”

Transaction Terms
Under the agreement, BXLS will provide Teva $400 million to fund ongoing and future development costs for duvakitug, spread over four years. As part of the funding arrangement and subject to the approval of duvakitug by the U.S. Food and Drug Administration (FDA), Teva will pay BXLS a milestone payment. BXLS will also be eligible to receive commercial milestones and low single-digit royalties on duvakitug worldwide sales, subject to customary terms and conditions.

About IBD
IBD is an autoimmune disorder characterized by chronic inflammation of the gastrointestinal (GI) tract. Globally, approximately 4.9 million cases of IBD have been identified, with incidence rising in several regions. The two main types of IBD are UC and CD, which are characterized by repetitive cycles of relapses and remission. Common symptoms of both conditions include persistent diarrhea, rectal bleeding, abdominal pain, loss of appetite, and weight loss.

Prolonged inflammation can lead to damage within the GI tract, including fibrosis, a common complication of IBD characterized by an excessive accumulation of scar tissue in the intestinal wall, which may cause narrowing and obstruction.

Currently, there is no cure for IBD. The goal of current treatment is to induce and maintain remission and prevent flares.

About duvakitug
Duvakitug, a human monoclonal antibody targeting TL1A, is currently in phase 3 clinical studies for the treatment of UC and CD. TL1A signaling is believed to amplify inflammation and drive fibrosis associated with IBD through binding to its receptor, DR3. Duvakitug preferentially inhibits TL1A-DR3 signaling over DcR3 (decoy receptor 3) binding, with the potential to reduce inflammation and fibrosis.

The safety and efficacy of duvakitug have not been reviewed by any regulatory authority.
Under a separate and independent agreement announced in 2023, Teva is co-developing and, subject to regulatory approval, will be co-commercializing this asset with Sanofi.

About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva's commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients' needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.

About Blackstone Life Sciences
Blackstone Life Sciences (BXLS) is a leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, BXLS helps bring to market promising new medicines and medical technologies that improve patients' lives and currently has $15 billion in assets under management.

Teva Cautionary Note Regarding Forward-Looking Statements
This Press Release 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 future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to execute the agreement with Blackstone Life Sciences and to successfully develop and commercialize duvakitug (anti-TL1A; TEV-'574) for the treatment of ulcerative colitis and Crohn's disease; our ability to successfully compete in the marketplace, including our ability to develop and commercialize additional pharmaceutical products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, and to execute on our organizational transformation and to achieve expected cost savings; and other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2025, including in the sections captioned “Risk Factors.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

Teva Media Inquiries
TevaCommunicationsNorthAmerica@tevapharm.com  

Teva Investor Relations Inquires
TevaIR@Tevapharm.com

Blackstone
David Vitek
(212) 583-5291
David.Vitek@blackstone.com