Teva Pharmaceutical Industries on Thursday launched a new “pivot to growth” strategy, based on existing growth drivers like Austedo and Ajovy as well as generics, further innovation, and focused capital allocation. The company expects annual sales of more than $2.5 billion by 2027 for Austedo, which treats involuntary movements associated with Huntington’s disease. With the new growth strategy, “I am confident we will gain momentum as a stronger, bolder and simpler organization,” Teva president and CEO Richard Francis said in a statement. Teva TEVA shares are up 3.1% premarket on Thursday.
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