Teva Pharmaceutical Transitions from ADSs to Direct Ordinary Shares Listing on NYSE

Teva Pharmaceutical Industries Ltd. Form 8-K Analysis

Summary of Event

On September 14, 2026, Teva Pharmaceutical Industries Ltd. filed a Form 8-K under Item 8.01 (Other Events) reporting a structural change in its U.S. share listing:

1. Direct Ordinary Shares Listing: The Company's ordinary shares commenced trading directly on the New York Stock Exchange (NYSE) under the ticker symbol TEVA, replacing its previous American Depositary Shares (ADSs).
2. Termination of ADS Program: The Company formally terminated its ADS program, with each ADS converted/exchanged for one ordinary share.
3. Dual-Listing Status: Teva's ordinary shares continue to trade simultaneously on the Tel Aviv Stock Exchange under the symbol TEVA.

Implications & Strategic Impact

• Corporate Structure Simplification: Direct listing of ordinary shares removes intermediary depository structures and administrative fees associated with ADSs.
• Market Continuity: Trading remains under the ticker symbol 'TEVA' on the NYSE without interruption to market liquidity or parity with Tel Aviv Stock Exchange listings.