Teva 2024 Healthy Future Report: Health Equity and Access to Medicines
At Teva, we are all in for better health. Increasing access to quality medicines is fundamental to improving the health of patients and the success of our business.
We use various approaches to address unmet health needs around the world: leveraging our medicines to get them to those who need them most, going beyond our product portfolio by strengthening health systems, as well as adopting a patient-centric approach to drug development.
To reinforce our dedication and to hold ourselves accountable to advancing health equity, we have linked two of our access commitments to our financial strategy through sustainable financial tools, including sustainability-linked bonds (SLBs).
Around one-third of the world's population lacks access to medicines, vaccines, diagnostic tools and other essential treatments1. Underserved populations and those living in under-resourced communities across the globe are often unable to afford or obtain the treatments they need.
GovernanceAll our access to medicines initiatives are approved by Executive Management and reviewed by the Board level Compliance Committee. A dedicated Health Equity and Access to Medicines Steering Committee is chaired by the Senior Vice President Global Head of Sustainability. It advises on and oversees our access to medicines initiatives on a strategic level. All approved matters are reviewed by the Sustainability Steering Committee, which is chaired by our Chief Executive Officer. Additionally, we assign access targets to executives to demonstrate accountability.
Guiding Document Teva's Position to Access to Medicines
Increasing access to medicines in 2024
Through our business
Beyond our Business
1 Essential Medicines and Pharmaceutical Policies. Source: World Health Organization, https://www.emro.who.int/essential-medicines/strategy-access/
2 Worth of medicine provided is represented in wholesale acquisition cost (WAC) or the local market equivalent.
3 Inclusive of donations made through the Teva Cares Foundation.
Progress on Targets
Health Equity and Access to Medicines
Increase access to medicines program product volume by 150% in 2025 (vs. 2020) through four access to medicines programs, including donations and social business in LMICs on WHO's EML across six key TAs1,2
Launch eight access programs by 2025 that address underserved populations and those in the last mile in LMICs
3.6m single unit doses provided
Nine programs launched
see here for more detail
A Unique Portfolio of Medicines
We increase access to quality medicine through our products: our innovative medicines help address the unmet health needs of a diverse range of patients, while our generic and biosimilar medicines offer more affordable options and reach more patients across the globe.
Our portfolio of generic medicines covers 58% of treatments on WHO's Essential Medicines List of important drugs that address key healthcare needs across the globe, including3:
1 Therapeutic areas for submissions include: cardiovascular diseases, pediatric oncology, respiratory diseases, diabetes, mental health and pain/palliative care. Therapeutic areas for volumes include: cardiovascular diseases, adult and pediatric oncology, respiratory diseases, diabetes, mental health and pain/palliative care.
2 Target is part of sustainability-linked bond.
3 Source: IQVIA MIDAS MAT Q4 2024; Analysis of 38 countries.
Reaching Underserved Populations
Teva's Health Equity and Access strategy is closely aligned with global health priorities and our Pivot to Growth strategy, and integrates our access objectives with commercial priorities to ensure both social impact and sustainable business growth.
We focus on addressing unmet needs of underserved populations as identified by global health authorities and partners worldwide, ensuring that our Access to Medicines programs make the greatest impact on populations that need them the most. We partner with trusted organizations that know the needs of local communities, are familiar with local health systems and understand and can implement appropriate patient treatment plans directly with healthcare providers.
Our approach to Health Equity and Access to Medicines is rooted in maximizing impact through:
To learn more, read the full 2024 Healthy Future Report.Read the full 2024 Healthy Future Report Disclosures.
Visit 3BL Media to see more multimedia and stories from Teva Pharmaceutical
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