Teva Announces New Environmental, Social and Governance (ESG) Strategy and Goals in 2020 Report
05 May 2021 - 10:00PM
Business Wire
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today
published its 2020 Environmental, Social and Governance (ESG)
Progress Report detailing the company’s efforts to advance
health and equity, minimize its impact on the planet and dedicate
itself to quality, ethics and transparency.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210505005037/en/
The report highlights new ambitious goals, including launching
eight programs to increase access to medicines globally by 2025 and
reducing Scope 1 and 2 greenhouse gas emissions by 33% by 2030.
These goals are being integrated into Teva’s corporate strategy,
with some directly linked to executive compensation.
For the first time, the company’s ESG Progress Report aligns
with the Sustainability Accounting Standards Board (SASB) and Task
Force on Climate-Related Financial Disclosures (TCFD). It also
includes external verification of additional environmental and
employee data.
“Teva’s latest ESG Progress Report reflects the importance of
health and the healthcare industry,” said Kåre Schultz, President
& CEO of Teva. “Throughout the COVID-19 pandemic, Teva ensured
the uninterrupted supply of our medicines to patients, while
protecting our employees, partnering with governments and
healthcare organizations, providing potential treatments and
helping to distribute vaccines and tests. With our collective
progress, new goals and enhanced reporting, 2020 cemented ESG as
integral to our company’s long-term sustainability and
resilience.”
In collaboration with partners, patients, communities and
governments, Teva’s ESG achievements in 2020 included:
- Donating $571 million worth of medicines to patients in need,
more than double its 2019 donations
- Safeguarding employee health and well-being, with its best
employee safety performance to date
- Reducing Scope 1 and 2 greenhouse gas emissions by 25% from
2017
- Strengthening inclusion and diversity (I&D) across its
workforce, with 82% of employees reporting Teva’s culture promotes
I&D
- Fostering a culture of compliance and ethics, publishing seven
policies and positions and training more than 20,000 employees on
key ethical behavior topics
This progress reflects Teva’s improved ESG performance, which
was recognized in key indices last year. S&P Global ranked Teva
in the top 30% of pharmaceutical companies—a 15% increase from
2019—and Sustainalytics ranked Teva in the top 10% of
pharmaceutical companies. The company’s CDP climate change score
improved from B to A- as a result of its greenhouse gas emissions
reduction initiatives, and Teva was the second ranked generics
company in the Access to Medicine Foundation’s Antimicrobial
Resistance Benchmark.
“ESG is everyone's business at Teva, and this report reflects
our employees’ cumulative contributions,” says Mark Sabag, EVP, HR,
GCB at Teva. “Our renewed ESG strategy authentically represents our
commitments to the communities in which we live and the patients we
serve.”
In its 120th year, Teva remains dedicated to supporting the
needs of communities, employees and patients—maintaining an ESG
mindset as it delivers quality medicines to nearly 200 million
people every day. Read more about Teva’s 2020 ESG Progress Report
here.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has
been developing and producing medicines to improve people’s lives
for more than a century. We are a global leader in generic and
specialty medicines with a portfolio consisting of over 3,500
products in nearly every therapeutic area. Around 200 million
people around the world take a Teva medicine every day, and are
served by one of the largest and most complex supply chains in the
pharmaceutical industry. Along with our established presence in
generics, we have significant innovative research and operations
supporting our growing portfolio of specialty and biopharmaceutical
products. Learn more at www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This 2020 Environmental, Social and Governance Progress Report
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. Important factors that could cause or
contribute to such differences include risks relating to:
- our ability to successfully compete in the marketplace,
including: that we are substantially dependent on our generic
products; consolidation of our customer base and commercial
alliances among our customers; delays in launches of new generic
products; the increase in the number of competitors targeting
generic opportunities and seeking U.S. market exclusivity for
generic versions of significant products; our ability to develop
and commercialize biopharmaceutical products; competition for our
specialty products, including AUSTEDO®, AJOVY® and COPAXONE®; our
ability to achieve expected results from investments in our product
pipeline; our ability to develop and commercialize additional
pharmaceutical products; and the effectiveness of our patents and
other measures to protect our intellectual property rights;
- our substantial indebtedness, which may limit our ability to
incur additional indebtedness, engage in additional transactions or
make new investments, may result in a further downgrade of our
credit ratings; and our inability to raise debt or borrow funds in
amounts or on terms that are favorable to us;
- our business and operations in general, including: uncertainty
regarding the COVID-19 pandemic and its impact on our business,
financial condition, operations, cash flows, and liquidity and on
the economy in general; our ability to successfully execute and
maintain the activities and efforts related to the measures we have
taken or may take in response to the COVID-19 pandemic and
associated costs therewith; effectiveness of our optimization
efforts; our ability to attract, hire and retain highly skilled
personnel; manufacturing or quality control problems; interruptions
in our supply chain; disruptions of information technology systems;
breaches of our data security; variations in intellectual property
laws; challenges associated with conducting business globally,
including political or economic instability, major hostilities or
terrorism; costs and delays resulting from the extensive
pharmaceutical regulation to which we are subject or delays in
governmental processing time due to travel and work restrictions
caused by the COVID-19 pandemic;
- the effects of reforms in healthcare regulation and reductions
in pharmaceutical pricing, reimbursement and coverage; significant
sales to a limited number of customers; our ability to successfully
bid for suitable acquisition targets or licensing opportunities, or
to consummate and integrate acquisitions; and our prospects and
opportunities for growth if we sell assets;
- compliance, regulatory and litigation matters, including:
failure to comply with complex legal and regulatory environments;
increased legal and regulatory action in connection with public
concern over the abuse of opioid medications and our ability to
reach a final resolution of the remaining opioid-related
litigation; scrutiny from competition and pricing authorities
around the world, including our ability to successfully defend
against the U.S. Department of Justice criminal charges of Sherman
Act violations; potential liability for patent infringement;
product liability claims; failure to comply with complex Medicare
and Medicaid reporting and payment obligations; compliance with
anti-corruption sanctions and trade control laws; and environmental
risks;
- other financial and economic risks, including: our exposure to
currency fluctuations and restrictions as well as credit risks;
potential impairments of our intangible assets; potential
significant increases in tax liabilities (including as a result of
potential tax reform in the United States); and the effect on our
overall effective tax rate of the termination or expiration of
governmental programs or tax benefits, or of a change in our
business;
and other factors discussed in our Annual Report on Form 10-K
for the year ended December 31, 2020, and subsequent SEC filings,
including in the sections captioned "Risk Factors” and “Forward
Looking Statements.” 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210505005037/en/
IR United States Kevin C. Mannix (215) 591-8912
Israel Yael Ashman 972 (3) 914-8262
PR United States Kelley Dougherty (973) 658-0237
Israel Yonatan Beker 972 (54) 888 5898
Teva Pharmaceutical Indu... (NYSE:TEVA)
Historical Stock Chart
From Feb 2024 to Mar 2024
Teva Pharmaceutical Indu... (NYSE:TEVA)
Historical Stock Chart
From Mar 2023 to Mar 2024