Identifiable Intangible Assets

6 Months Ended

Jun. 30, 2026

NOTE 5 – Identifiable intangible assets:

Identifiable intangible assets consisted of the following:


	Gross carrying amount net of impairment				Accumulated amortization				Net carrying amount
	June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
	2026		2025		2026		2025		2026		2025
	(U.S. $ in millions)
Product rights	$	16,140	$	16,308	$	13,120	$	12,990	$	3,020	$	3,318
Trade names		591		597		356		340		235		257
In process research and development		192		206		—		—		192		206

Total	$	16,923	$	17,111	$	13,476	$	13,330	$	3,447	$	3,781

Product rights and trade names

Product rights and trade names are assets presented at amortized cost. Product rights and trade names represent a portfolio of pharmaceutical products in various therapeutic categories from various acquisitions with a weighted average life period of approximately 7 years.

Amortization of intangible assets was $139 million and $148 million in the three months ended June 30, 2026 and 2025, respectively.

Amortization of intangible assets was $276 million and $292 million in the six months ended June 30, 2026 and 2025, respectively.

IPR&D

Teva’s IPR&D are assets that have not yet been approved in its major markets. IPR&D carries intrinsic risks that the asset might not succeed in advanced phases and may be impaired in future periods.

Intangible assets impairments

Impairments of long-lived intangible assets

for the three months ended June 30, 2026 and 2025 were $22 million and $42

million, respectively, primarily consisted of identifiable product rights, mainly related to updated market assumptions regarding price and volume of products mainly in Europe and in the U.S.

Impairments of long-lived intangible assets for the six months ended June 30, 2026 and 2025 were $

million and $

163

million, respectively.

Impairments in the first six months of 2026 primarily consisted of identifiable product rights of $29 million, mainly related to updated market assumptions regarding price and volume of products mainly in Europe and in the U.S.

Impairments in the first six months of 2025 consisted of:

(a)

Identifiable product rights of $153 million due to: (i) $87 million mainly related to a change in Teva’s commercial plan regarding certain products as part of its optimization efforts, mainly in the U.S., and (ii) $66 million mainly related to updated market assumptions regarding price and volume of products in Europe; and

(b)

IPR&D assets of $10 million, mainly related to generic pipeline products resulting from development progress and changes in other key valuation indications mainly in the U.S. (e.g., market size, competition assumptions, legal landscape and launch date).

The fair value measurement of the impaired intangible assets in the six months ended June 30, 2026, is based on significant unobservable inputs in the market and thus represents a Level 3 measurement within the fair value hierarchy. The discount rate applied ranged between 7.5% to 11.25%. A probability of success factor of 90% was used in the fair value calculation to reflect inherent regulatory and commercial risk of IPR&D.