Teva Announces Pricing of $2.0 Billion of Senior Notes

  Teva Announces Pricing of $2.0 Billion of Senior Notes

            - Proceeds to be used for repayment of existing debt -

Business Wire

JERUSALEM -- December 13, 2012

Teva Pharmaceutical Industries Limited (NYSE: TEVA) announced today that it
successfully priced a debt offering by its special purpose finance
subsidiaries, consisting of two tranches:

  *$700,000,000 of 2.250% fixed rate senior notes maturing in March 2020
    issued by Teva Pharmaceutical Finance IV, LLC; and
  *$1,300,000,000 of 2.950% fixed rate senior notes maturing in December 2022
    issued by Teva Pharmaceutical Finance Company BV

The notes will be sold at a price of $999.55 and $998.02 per $1,000 principal
amount, respectively, and are rated A3 by Moody's Investor Services, A- by
Standard & Poor's and A- by Fitch Ratings. The notes will be guaranteed by
Teva Pharmaceutical Industries Limited.

"We are very satisfied with the outcome of our debt offering, which was
executed to repay existing debt in line with our recently announced new
strategy," stated Eyal Desheh, Executive Vice President and Chief Financial
Officer of Teva. "The success of this offering demonstrates the continued
confidence that fixed-income investors have in Teva".

Teva intends to use the net proceeds from this offering to repay the
approximately $700 million remaining outstanding under a term loan credit
facility due in 2013 and 2014 and redeem the $1 billion outstanding principal
amount of its 1.70% Senior Notes due November 2014 via a make-whole call. The
balance will be used to repay other indebtedness and/or for general corporate
purposes.

These securities are being offered pursuant to Teva's effective shelf
registration statement previously filed with the Securities and Exchange
Commission. The offering is being made by a group of underwriters led by
Barclays Capital Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and
Morgan Stanley & Co. LLC. Offers and sales of the senior notes may be made
only by the related prospectus and prospectus supplement. Closing of the
offering is expected on December 18, 2012.

Copies of the prospectus and prospectus supplement may be obtained from
Barclays Capital Inc., by calling toll free at 1-888-603-5847; from Goldman,
Sachs & Co., by calling toll free at 1-866-471-2526; from J.P. Morgan
Securities LLC by calling collect at 1-212-834-4533 or Morgan Stanley & Co.
LLC by calling toll free at 1-866-718-1649.

Disclaimers

This announcement shall not constitute an offer to sell nor the solicitation
of an offer to buy nor shall there be any sale of the above described
securities in any state in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities law
of any such state.

Stabilization/FSA

In connection with the issue of the notes, one or more of the underwriters (or
persons acting on behalf of any of the underwriters) may over-allot notes or
effect transactions with a view to supporting the market prices of the notes
at a level higher than that which might otherwise prevail. However, there is
no assurance that such underwriters (or persons acting on behalf of any such
underwriter) will undertake stabilization action. Such stabilizing, if
commenced, may be discontinued at any time and, if begun, must be brought to
an end after a limited period. Any stabilization action or overallotment must
be conducted by the relevant underwriter (or persons acting on behalf of such
underwriter) in accordance with all applicable laws and rules.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) is a leading global
pharmaceutical company, committed to increasing access to high-quality
healthcare by developing, producing and marketing affordable generic drugs as
well as innovative and specialty pharmaceuticals and active pharmaceutical
ingredients. Headquartered in Israel, Teva is the world's largest generic drug
maker, with a global product portfolio of more than 1,300 molecules and a
direct presence in about 60 countries. Teva's branded businesses focus on CNS,
oncology, pain, respiratory and women's health therapeutic areas as well as
biologics. Teva currently employs approximately 46,000 people around the world
and reached $18.3 billion in net revenues in 2011.

Teva’s Safe Harbor Statement under the U.S. Private Securities Litigation
Reform Act of 1995:

This release contains forward-looking statements, which express the current
beliefs and expectations of management. Such statements are based on
management’s current beliefs and expectations and involve a number of known
and unknown risks and uncertainties that could cause our future results,
performance or achievements to differ significantly from the results,
performance or achievements 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 develop and
commercialize additional pharmaceutical products, competition from the
introduction of competing generic equivalents and the impact of increased
governmental pricing pressures, the effects of competition on revenues of our
innovative products, especially Copaxone® (including competition from
innovative orally-administered alternatives, as well as from potential generic
equivalents), potential liability for revenues of generic products prior to a
final resolution of outstanding patent litigation, including that relating to
the generic version of Protonix®, the extent to which we may obtain U.S.
market exclusivity for certain of our new generic products, the extent to
which any manufacturing or quality control problems damage our reputation for
high quality production and require costly remediation, our ability to
identify, consummate and successfully integrate acquisitions (including the
acquisition of Cephalon), our ability to achieve expected results through our
innovative R&D efforts, dependence on the effectiveness of our patents and
other protections for innovative products, intense competition in our
specialty pharmaceutical businesses, uncertainties surrounding the legislative
and regulatory pathway for the registration and approval of
biotechnology-based products, our potential exposure to product liability
claims to the extent not covered by insurance, any failures to comply with the
complex Medicare and Medicaid reporting and payment obligations, our exposure
to currency fluctuations and restrictions as well as credit risks, the effects
of reforms in healthcare regulation and pharmaceutical pricing and
reimbursement, adverse effects of political or economical instability, major
hostilities or acts of terrorism on our significant worldwide operations,
increased government scrutiny in both the U.S. and Europe of our agreements
with brand companies, interruptions in our supply chain or problems with our
information technology systems that adversely affect our complex manufacturing
processes, the impact of continuing consolidation of our distributors and
customers, the difficulty of complying with U.S. Food and Drug Administration,
European Medicines Agency and other regulatory authority requirements,
potentially significant impairments of intangible assets and goodwill,
potential increases in tax liabilities resulting from challenges to our
intercompany arrangements, the termination or expiration of governmental
programs or tax benefits, any failure to retain key personnel or to attract
additional executive and managerial talent, environmental risks and other
factors that are discussed in our Annual Report on Form 20F for the year ended
December 31, 2011 and in our other filings with the U.S. Securities and
Exchange Commission.

Contact:

Teva Pharmaceutical Industries Limited
IR:
Kevin C. Mannix, 215-591-8912
United States
or
Joseph Marczely, 267-468-4281
United States
or
Tomer Amitai, 972 (3) 926-7656
Israel
or
PR:
Hadar Vismunski-Weinberg, 972 (3) 926-7687
Israel
or
Denise Bradley, 215-591-8974
United States
 
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