Richard Francis on tariffs
From Teva CEO Richard Francis Talks Tariffs, Generic Drugs Market | Bloomberg Talks · · Bloomberg Podcasts
“We're not super clear on exactly the detail of what's happened in Europe, but our exposure to China is none and to India very limited; we have eight manufacturing sites in the US and our major product — which grew 22% in the US — is manufactured in Florida.”
On , Richard Francis, President & CEO at Teva Pharmaceutical Industries, spoke about tariffs during Teva CEO Richard Francis Talks Tariffs, Generic Drugs Market | Bloomberg Talks on Bloomberg Podcasts.
About Richard Francis
Teva CEO Richard Francis discussed the company's financial results and strategy in several interviews in 2024 and 2025. In July 2025, following Teva's second-quarter earnings, Francis addressed the impact of tariffs on pharmaceuticals, stating that the company was "not super clear on exactly the detail" of the U.S.-EU agreement. He noted that Teva's major innovative product is manufactured in the U.S. and that the company would not increase prices on that business. On generics, he said price changes would depend on the competitive environment. Francis also confirmed that Teva was in "active discussions" regarding the sale of its active pharmaceutical ingredient business and expected to make an announcement by the end of the third quarter of 2025. Francis has continued to promote Teva's "Pivot to Growth" strategy, which he described as focusing on four pillars: delivering on growth engines, stepping up innovation, creating a generics powerhouse, and focusing the business. He highlighted the company's innovative pipeline, including treatments for neurological disorders and mental health, and discussed the potential of biosimilars, stating that over the next decade Teva would address "three to four hundred billion dollars of brands that will lose their patent." Francis also commented on the role of AI in drug development, noting that a partnership had cut the time from first design to clinic from roughly four years to two. He argued that innovation should be allowed to thrive and that generics save "upwards of three trillion dollars a year" for the healthcare industry.