Category: 3. Business

Richard Francis, Teva’s President and CEO, will present at the 44th Annual J.P. Morgan Healthcare Conference on Tuesday, January 13, 2026, at 8:15 A.M. Pacific Time (11:15 A.M. Eastern Time)

TEL AVIV, Israel, Jan. 11, 2026 (GLOBE NEWSWIRE) — Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) will present its ongoing transformation and expected growth trajectory through 2030 at the 44^th Annual J.P. Morgan Healthcare Conference. Teva’s President and Chief Executive Officer, Richard Francis, will meet with investors and present the Company’s milestones achieved in 2025, transformative initiatives, and forward-looking outlook for 2026 and beyond.

Presentation Highlights:

• Pivot to Growth Strategy Progress: Teva is accelerating its Pivot to Growth strategy, focusing on transforming into a leading innovative biopharmaceutical company through late-stage innovative pipeline, fueled by its world-class generics business.
• Innovation at the Heart of Teva’s Transformation: Teva’s key innovative brands – AUSTEDO^®, AJOVY^® and UZEDY^® – are already driving its growth and reshaping Teva’s financial outlook. Teva’s clinical pipeline assets – olanzapine LAI, DARI (ICS/SABA), duvakitug (anti-TL1A), emrusolmin, and anti-IL-15 – are expected to drive Teva’s long-term growth trajectory and further Teva’s transformation.
• 2025 Performance: Teva to provide its expected 2025 financial performance.
• 2026 and Beyond: In addition, Teva to provide forward-looking outlook for 2026 and beyond, underlining disciplined capital allocation and a commitment to securing an investment-grade credit rating.

Expected 2025 Performance

$ billions, except EPS or as noted	2025 Outlook	Expected 2025 performance relative to Outlook (excluding duvakitug milestones)	Additional contribution from expected duvakitug milestones
Revenues*	$16.8 – $17.0	Lower point of the range	$500M
Operating Margin	~26.2% – 27.1%	Mid to high point of the range	~80%-85%
Adjusted EBITDA	$4.8 – $5.0	Midpoint of the range	~$400M-$430M
Tax Rate	15%-18%	Lower point of the range
Diluted EPS ($)	2.55 – 2.65	Higher point of the range
Free Cash Flow**	$1.6 – $1.9	Higher point of the range	~$500M
Net leverage	~2.5x – 2.9x	Midpoint of the range	~2.5x

Path to achieving 2027 targets and additional 2030 targets

$billionsor as noted	2026	2027	2030
Revenues*	Flat to slightly down vs. 2025	Low-single digit growth	Mid-single digit CAGR
Operating Profit	Growing vs. 2025	30%	>30%
Adjusted EBITDA		Growing vs. 2026	Growing
Free Cash Flow**	Growing vs. 2025	>$2.7	>$3.5
Net Leverage	~2.0-2.2x	<2x	<2x
Cumulative Transformation Programs Savings	~$450M-500M	~$700M

<sup>Note: 2026 commentary compared to 2025 results excluding duvakitug milestones, except for net debt leverage calculation.
* Revenues presented on a GAAP basis; all other metrics presented on a non-GAAP basis.
** Free Cash Flow includes cash flow generated from operating activities net of capital expenditures and deferred purchase price cash component collected for securitized trade receivables.</sup>

To access a live webcast of the presentation, visit Teva’s Investor Relations website at:  https://ir.tevapharm.com/Events-and-Presentations.

An archived version of the webcast will be available within 24 hours after the end of the live discussion and will be accessible for up to 30 days.

About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to better health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.

Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures as defined by SEC rules. Management believes that such non-GAAP financial measures provide useful information to investors to facilitate their understanding of our business because the non-GAAP financial measures are used by Teva’s management and board of directors, in conjunction with other performance metrics, to evaluate the operational performance of the company, to compare against the company’s work plans and budgets, and ultimately to evaluate the performance of management; the company’s annual budgets are prepared on a non-GAAP basis; and senior management’s annual compensation is derived, in part, using these non-GAAP measures. Investors should consider the non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. In the case of the non-GAAP financial measures disclosed in this press release, we are not providing comparable forward looking guidance for GAAP financial measures or a quantitative reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measure because we are unable to predict with reasonable certainty the ultimate outcome of certain significant items including, but not limited to, the amortization of purchased intangible assets, legal settlements and loss contingencies, impairment of long-lived assets and goodwill impairment, without unreasonable effort. These items are uncertain, depend on various factors, and could be material to our results computed in accordance with GAAP.

Teva Cautionary Note Regarding Forward Looking Statements
This Press Release and the presentation at the conference may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our financial guidance, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. These forward-looking statements include statements concerning our plans, strategies, objectives, future performance and financial and operating targets, and any other information that is not historical information. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe,” “outlook” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to successfully compete in the marketplace, including: that we are substantially dependent on our generic products; our ability to develop and commercialize additional pharmaceutical products; competition for our innovative medicines; our ability to achieve expected results from investments in our product pipeline; our ability to successfully execute on our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, to sustain and focus our portfolio of generic medicines, and to execute on our organizational transformation and to achieve expected cost savings; and the effectiveness of our patents and other measures to protect our intellectual property rights; our significant indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; our business and operations in general; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in this document, in our Quarterly Report on Form 10-Q for the third quarter of 2025 and in our Annual Report on Form 10-K for the year ended December 31, 2024, including in the sections captioned “Risk Factors” and “Forward-looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

Samsung Electronics today announced the launch of “Help Me Choose,” a digital tool designed to guide consumers in selecting the ideal laundry solution based on their individual needs and lifestyle preferences.

With just a few clicks, the tool evaluates suitability across product types including washers, dryers, washer & dryer sets and all-in-one combos, empowering users to make smarter decisions based on real-time product recommendations.

“Today’s consumers have a wide array of laundry needs and preferences, and that means there is no one-size-fits-all solution,” said Sang Jik Lee, Executive Vice President and Head of Sales & Marketing Team for Digital Appliances (DA) Business at Samsung Electronics. “By simplifying the decision-making process and offering a more intuitive product discovery journey, the ‘Help Me Choose’ tool makes it easy to find the best fit.”

Designed for a Range of Modern Lifestyles

Samsung has continually expanded its washing machine portfolio to meet the needs of diverse markets and lifestyles — from compact models for people living alone to high-capacity appliances for larger households.

When consumers shopping online, however, the wide range of available models can sometimes make the selection process overwhelming. Reflecting the growing trend of online shopping for home appliances and the expanding variety of consumer lifestyles worldwide, the new tool guides users through a series of lifestyle-based questions, such as how big their household is, how often they do laundry in a week, how much space is available and what values, like energy or time saving, are most important to them. Based on these responses, users can receive tailored recommendations from Samsung’s lineup of washing machines available in their region.

For example, if someone lives alone, owns a pet and values space efficiency, the tool can recommend the Bespoke AI Laundry Combo. This is because it provides an efficient laundry experience by completing both washing and drying in a single unit, avoiding the need for two separate machines, while also offering the Pet Care and AI Wash & Dry¹ cycles.

Availability

Help Me Choose will roll out on Samsung.com in select global markets starting in January, with broader availability to follow.

Samsung also plans to expand the experience to additional product categories starting in the first half of 2026, helping consumers make confident, informed purchase decisions more conveniently.

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by Bob Francis, Fort Worth Report
January 11, 2026

A record-setting number of Texas homes sold for $1 million or more from November 2024 to October 2025, according to the 2025 Texas Sales of Million-Dollar Homes Report released by the Texas Realtors association.

The 14,418 homes sold represent a 12% increase over the previous year. The $24.5 billion collective sales value of those homes is also a new record.

More homes in the $1 million+ price range were available in 2025, with 32,793 new listings, compared to 28,325 new listings in the previous year.

While 4.3% of all homes sold in Texas were $1 million+ homes, those properties made up 17.2% of all residential sales dollar volume in the state, an increase from 15.7% the previous year.

All four of the state’s largest metros had increases in $1 million+ home sales of at least 10%. The Houston area had the largest increase at 18%. The Dallas-Fort Worth area showed a 10% increase from November 2024 to the end of October 2025. 

Almost 90% of the $1 million+ homes sold in Texas last year were in one of the four largest metro areas. At 38%, Dallas-Fort Worth-Arlington had the largest share, with 5,485 homes worth a combined $9.7 billion. 

The average price per square foot of $1 million+ homes increased to $423 from $418 last year and was more than double the $188 average price per square foot of all Texas homes.

The median closing price for $1 million+ homes statewide was $1.37 million. Of the largest metro areas, the Dallas-Fort Worth area had the highest median closing price at $1.42 million. 

A recent noteworthy sale was a home once owned by the co-owner of the Texas Rangers. The home, a seven-bedroom estate located at 9553 Bella Terra Drive in Fort Worth’s upscale Montserrat neighborhood, sold for $6.8 million at auction. 

The home was previously listed for sale at $11.75 million. It went on the auction block on Dec. 3 with bidding ended Dec. 18. 

Horned Frog bobblehead 

Texas Christian University’s football season may be over with a last-minute nailbiting 30-27 victory over the University of Southern California in the Alamo Bowl, but the team’s bobbleheads live on. 

The National Bobblehead Hall of Fame and Museum has just released an officially licensed statuette of the Horned Frog mascot.

Each of the 2,025 bobbleheads being manufactured is individually numbered and costs $35 plus an $8 shipping charge. 

According to TCU, the Horned Frog mascot began life as “Addie the All-American Frog” in 1949 and became SuperFrog in 1979. In 1999, the mascot underwent a more radical transformation into the current look modeled by the bobblehead. 

Tandy gets handy 

Tandy Leather has opened its flagship store in Fort Worth’s West 7th corridor at 2973 Crockett St. 

The grand opening will be Jan. 24 for the store, which looks to pair Tandy’s century-old heritage with a modern, interactive store experience.

The company, which dates its history to 1919 and was part of Charles Tandy’s Tandy Corp. empire, last year announced the sale of its headquarters, including a store located at 1900 SE Loop 820, to food packaging company Colonna Brothers. 

Fort Worth firm secures capital 

Fort Worth-based Equify Financial has closed a $100 million preapproved credit arrangement with JPMorgan Chase & Co.

The funds will be used to support Equify’s growing portfolio of commercial loans, with a focus on equipment finance, asset-based lending, and structured solutions for operators in capital-intensive industries.

 

Fort Worth firm acquired

Atlanta-based White Cap, a distributor of specialty construction supplies and safety products for professional contractors, has acquired VoidForm Products, a manufacturer of products designed to protect concrete structures from damage caused by expansive, corrosive and seismic soil conditions. VoidForm Products has six locations across Texas, Colorado, Mississippi and Canada. 

David DiLuccia will continue to lead the VoidForm Products business. VoidForm had previously partnered with Argonaut Private Equity, a Tulsa-based private equity firm. 

Fort Worth seeking proposals 

The city of Fort Worth is currently seeking proposals from qualified firms or individuals with horizontal and vertical public works experience to finalize an exclusive agreement to provide professional services in developing and administering a Small Contractor Development Program.

The SCDP is intended to strengthen the capacity, competitiveness and performance of small, local, new and emerging businesses within Tarrant, Denton, Johnson, Parker and Wise counties. These businesses would help deliver water, transportation and other public works projects for the city.

The Small Contractor Development Program aims to:

• Provide training, mentorship and technical assistance.
• Support firms in understanding Texas-specific contracting requirements with Texas Department of Transportation, Texas Commission on Environmental Quality, Historically Underutilized Business and Fort Worth’s contracting requirements as well as the new Small Business Development Program.
• Identify and make recommendations regarding access to bonding, financing and compliance resources.

Identify additional “best value” subcontracting and prime contracting opportunities on municipal capital improvement projects for SCDP cohort member participation.

Proposals will be accepted through Jan. 29. 

Private equity firm makes investments 

Fort Worth and San Francisco-based TPG, a private equity firm, has made a series of investments and acquisitions of late. 

• TPG has agreed to acquire a majority stake in Conservice, a utility management platform for the property management industry. TPG will invest in Conservice through TPG Capital, the firm’s U.S. and European private equity platform, and will join leading global private equity investor Advent International, who will retain a significant stake after first investing in Conservice in 2020. 
• TPG Real Estate has acquired a majority interest in homebuilder Lennar Corp.’s Quarterra, a developer of multifamily communities. TPG has made an additional $1 billion strategic commitment in connection with the acquisition and expects to raise additional capital to fund future growth and the development of Quarterra’s multifamily pipeline. The partnership will focus on Quarterra’s Emblem communities, which looks to develop attainable rental housing options nationwide. 
• TPG and Jackson Financial established a long-term strategic investment management partnership with a minimum commitment to manage at least $12 billion in assets for Jackson. TPG will make a $500 million minority investment in Jackson while Jackson will receive $150 million in TPG shares. 

Do you have something for the Bob on Business column? Email Bob Francis, business editor for the Fort Worth Report, at bob.francis@fortworthreport.org.

At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.

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Electro Optic Systems Holdings Limited (“EOS” or the “Company”) (ASX: EOS) today announces that it has entered into an agreement to acquire the MARSS group business (“MARSS”). MARSS is a Europe-based provider of command and control (“C2”) systems, which are critical for effectively countering drones.

MARSS’ proprietary C2 technology, NiDAR, provides advanced AI-enabled decision making and sensor-effector orchestration to rapidly counter asymmetric drone threats.

By combining its best-in-class effector and sensor capabilities with MARSS’ C2 technology, EOS is transforming from a component supplier to an integrated counter-drone systems provider, with strong software and AI capabilities.

Highlights

• Established in 2006, MARSS is a defence and security technology provider focused on developing and marketing sensor-fusion technology and AI-enabled C2 systems primarily for counter-drone use
• The acquisition includes MARSS’ NiDAR C2 technology, sensor-fusion and AI software platform and hardware offering, along with associated customer contracts, intellectual property and personnel
• Creates an integrated, end-to-end solution for countering drones i.e. Detect → Identify → Decide → Defeat – allowing EOS to act as a true counter-drone system provider and to compete for larger, higher-value programs as a Prime Contractor. This includes the delivery and operation of turn-key solutions for the protection of critical infrastructure in the military, homeland security and civil domain, such as airports or power plants
• Expands EOS’ geographic footprint and broadens its end market presence, with scope to leverage MARSS’ defence, homeland security and civil relationships
• Significantly strengthens EOS’ in-house AI/software development capability
• EOS plans to embed the AI-enabled NiDAR technology into its existing remote weapon system product range. It is envisaged that this will create the ability for the systems to form a mesh-network, providing the client’s vehicle fleet hemispherical coverage against drone attacks – a new feature in today’s market
• Transaction structured as an asset acquisition, with consideration consisting of an upfront cash payment and an earnout, being additional contingent consideration tied to new MARSS sales:
  • Upfront cash payment of US$36m (~A$54m); plus
  • Potential earnout amount of up to €20m for each €100m (or part thereof) of certain new MARSS third party contract orders (up to €500m) secured prior to the end of the earnout period. The earnout payment is capped at €100m (~A$174m), subject to adjustments and is payable in a combination of cash (capped at €20m) and EOS shares. More details are below (in full ASX announcement).
• Acquisition cash consideration, primarily intended to be funded from existing cash reserves (~$107m at 31 Dec 2025), see further details below (in full ASX announcement).
• Acquisition anticipated to be broadly neutral for earnings and operating cashflow in 2026.
• Completion expected in 2026, subject to customer, regulator and other approvals

Read the full ASX announcement here

• Over 18 million workers across the UK to benefit from stronger protections at work, with most insecure workers set to gain the most.   

• New day one rights from April confirmed for parental leave, whilst bereaved partners set to gain further rights to paternity leave. 

• Changes create more secure jobs and raise living standards, ensuring economic growth is felt by working people in every part of the UK.   

Millions of workers who were previously denied time off for the birth of their child will become eligible for new day one rights to parental leave from April, through measures being laid in Parliament today (Monday 12 January). 

The changes, which stem from the recently passed Employment Rights Act, will see parents no longer be forced to make the heart-wrenching choice between being there for the first weeks of their child’s life or going back to work to avoid losing their job.  

An additional 32,000 more dads per year will be able to access Paternity Leave immediately, as a mother would with maternity leave.  

This comes as the Government continues its Parental Leave and Pay Review, which will assess the whole system – from maternity and paternity leave to shared parental leave – to see how it can work better for parents and employers.  

Around 390,000 people are estimated to be out of work due to caring responsibilities but want a job, including parents. The reforms to parental leave include the right to take Unpaid Parental Leave from the first day in a new job, giving a further 1.5 million parents more flexibility to share caring responsibilities. If even 1% of those out of work were able to take up a part-time job as a result of this move, it could boost economic output by around £150m a year. 

Prime Minister Keir Starmer said:   

For too long, working people were left without the basic rights and security they deserve. That ends now.

The changes we’re bringing in will mean every new parent can properly take time off when they have a child, and no one is forced to work while ill just to make ends meet. This is about giving working families the support they need to balance work, health and the cost of living.

We’re delivering a modern deal for workers. Stronger sick pay, parental leave from day one, and protections that put dignity back at the heart of work. Because when we respect and reward those who keep Britain running, we build a stronger economy for everyone.

Business Secretary Peter Kyle said:   

No one should have to worry about whether they can take time off when their baby arrives, or lose pay simply because they’ve fallen ill.   

Our improvements to sick pay and parental leave are about giving workers and their families the security they deserve. They will ensure our drive for growth reaches everyone through providing secure, fair paying jobs and giving support to people when they need it most.

Following campaigning from individuals such as Aaron Horsey, a new Bereaved Partner’s Paternity Leave will also be introduced from April, providing up to 52 weeks of leave for fathers and partners who lose their partner before their child’s first birthday. This fixes the previously unfair system where bereaved partners had to rely on the compassion of an employer in order to be granted time off to grieve and care for their child. 

Aaron Horsey, campaigner for Bereaved Partner’s Paternity Leave, said: 

Bereaved Partner’s Paternity Leave ensures that new parents and their employers have a clear route for support at one of the most difficult moments imaginable. It gives them the time and space they need to grieve, care, and begin to rebuild their lives with dignity. 

By embedding this protection in law, it shows how listening to lived experience can lead to practical, compassionate change that will support families for generations to come.

Analysis published last week showed that over 18 million workers are set to benefit from the Government’s wider Plan to Make Work Pay, with it particularly supporting the lowest-paid workers, those in insecure jobs, and people facing unfair treatment at work.   

The benefits in the Employment Rights Act significantly outweigh the costs. By restricting exploitative practices like unscrupulous fire and rehire, and giving more workers access to flexible working and guaranteed hours contracts, this country will see improved worker wellbeing, boosted productivity, and a more level playing field for employers. This is all worth billions of pounds per year and is expected to deliver a small yet positive impact on economic growth. 

The government is also bringing in changes to ensure up to 1.3 million additional workers in lower-paid or part-time roles are able to access Statutory Sick Pay (SSP) and make sure everyone can access it from the first day of illness.   

This is a substantial shift from the former three-day wait for SSP to kick in, which left people working whilst ill risking increased long-term sickness, one of key factors draining British businesses and the wider economy. 

By improving the quality of work and ensuring that everyone has job security when it matters most, the Government is delivering on its mission to drive growth that is felt by everyone. 

TUC General Secretary Paul Nowak said:

The Employment Rights Act will deliver vital common-sense reforms for millions of people across the country – including sick pay for all workers and better leave for parents.  

Britain will now be brought into line with other countries where workers already have better protections. And crucially, the legislation will give working people the higher living standards and secure incomes that are needed to build a decent life.  

Good employers will also welcome these changes – the Act protects them from competitors whose business models are built on low-paid, insecure employment.” 

Simon Kelleher, Head of Policy and Influencing at Working Families, said:

Day-one rights for paternity and unpaid parental leave are a positive step forward. Removing the 26-week qualifying period means parents can change jobs without losing essential leave entitlements, something we know has held many people back and can trap families in roles that no longer work for them. 

To build on this progress, we are looking forward to continuing our engagement with the Government’s ongoing Parental Leave Review to ensure all parents can access a meaningful period of leave.

Niall Mackenzie, Acas Chief Executive, said:

It can be hugely stressful if a worker is not paid during an illness or dealing with a major life upheaval like a birth or bereavement.  

These new measures give greater protections for working people that get ill, and create capacity to handle unpredictable moments when they need it the most. Reducing stress and anxiety for staff can also help support good relationships with employers and support business growth.

Notes to editors:   

• The following Statutory Instrument will be laid in Parliament on Monday 12 January, in order for the parental leave measures in the Employment Rights Act 2025 to take effect:  

• The Employment Rights Act 2025 (Parental and Paternity Leave) (Removal of Qualifying Periods etc.) (Consequential Amendments) Regulations 2026 

• The following Statutory Instruments will be laid in order to allow Bereaved Partner’s Paternity Leave to take effect: 

• The Bereaved Partner’s Paternity Leave Regulations 2026  

• The Employment Rights Act 1996 (Application of Section 80B to Parental Order Cases) (Amendment) Regulations 2026  

• The Employment Rights Act 1996 (Application of Section 80B to Adoptions from Overseas) (Amendment) Regulations 2026 

• Statutory Instruments for the Statutory Sick Pay changes in the Employment Rights Act 2025 will follow in the coming months, ahead of implementation in April. 

• Case studies are available, including from the TUC and Working Families. Press office contacts are available below: 

• media@tuc.org.uk 

• sarah.murray@WorkingFamilies.org.uk  

• The Dad Shift can also be contacted for case studies of fathers who have faced barriers to paternity leave, at press@dadshift.org.uk and 07969151841 / 07917824009.

Biannual event will take place from Jan. 17-31

SAN ANTONIO – Culinaria’s Restaurant Weeks is set to return to the Alamo City, offering two weeks of special menus and dining deals across the city.

From Jan. 17-31, dozens of eateries will participate in the event. Participating restaurants will serve guests three-course menus for brunch, lunch and dinner throughout the Alamo City during this time.

Hours of operation and availability of menus are subject to change.

Here’s a list of some participating restaurants that will serve three-course menus at various price points:

$25 three-course brunch menus

• Box St. All Day (both locations) – 623 Hemisfair Blvd, Suite 108 and 17038 Fiesta Texas Drive, Suite 112
• Kona Grill (both locations) – 5603 Presidio Parkway and 7400 San Pedro Ave. #1255
• Meadow – 555 W. Bitters Road, Suite 110

$20 and $30 three-course lunch menus

Three-course dinner menus of $35, $45 and $55

• Ladino – 200 E. Grayson St. #100

For a full list of participating restaurants, click here.

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• Royalty Pharma to provide up to $500 million, including $75 million for Phase 2b funding and a Royalty Pharma option for an additional $425 million, to support Teva’s anti-IL-15 candidate, TEV-‘408 
• TEV-‘408 is currently in Phase 1b for treatment of vitiligo and in Phase 2a for celiac disease
• Funding agreement supports Teva’s Pivot to Growth strategy to accelerate its innovative pipeline and bring treatments to patients faster
  

NEW YORK and PARSIPPANY, N.J., Jan. 11, 2026 (GLOBE NEWSWIRE) — Royalty Pharma plc (Nasdaq: RPRX) and Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced a funding agreement of up to $500 million to accelerate the clinical development of Teva’s anti-IL-15 antibody, TEV-‘408. IL-15 is a key cytokine involved in multiple immune-mediated disease pathways. Emerging Phase 1b data from the ongoing TEV-‘408 vitiligo study provides preliminary support for IL-15 as a potential therapeutic target to treat a broad variety of autoimmune conditions. Teva anticipates sharing results from TEV-‘408 trials during 2026.

“We are delighted to enter into this second collaboration with Teva as they advance the development of TEV-‘408,” said Pablo Legorreta, Chief Executive Officer and Chairman of the Board of Royalty Pharma. “Vitiligo is a chronic autoimmune skin disease that can have a profound emotional and psychosocial burden, yet current treatment options are insufficient. Our continued collaboration underscores Royalty Pharma’s role as a long-term, trusted partner with a focus on funding innovation in potentially transformative and practice changing therapies.”

“Strategic collaborations fuel innovation. This agreement with Royalty Pharma enables us to advance our science more efficiently and accelerate our pipeline to deliver meaningful solutions for patients worldwide,” said Richard Francis, President, and CEO of Teva. “Vitiligo represents a significant unmet need, with only one approved topical treatment currently available and no systemic options. We are dedicated to driving scientific progress that brings new, effective therapies to people living with chronic autoimmune diseases.”

Transaction Terms

Under the terms of the agreement, Royalty Pharma will provide Teva up to $500 million to fund ongoing development costs for TEV-‘408 in vitiligo. This is comprised of $75 million in R&D co-funding to conduct a Phase 2b study targeted to start in 2026. Based on the future results from Phase 2b in vitiligo, Royalty Pharma will have an option to provide an additional $425 million to co-fund the Phase 3 development program. If approved and launched, Teva will pay a milestone to Royalty Pharma and a royalty on worldwide net sales of TEV-‘408.

About TEV-‘408

TEV-‘408 is an investigational human monoclonal antibody designed to inhibit interleukin-15 (IL-15), a cytokine involved in immune-mediated pathways. TEV-‘408 has a high affinity and potency (in vitro) as well as a prolonged half-life, with a planned convenient self-administration option for patients.

It is currently in Phase 1b (NCT06625177) for the treatment of vitiligo. The candidate is also being evaluated in a Phase 2a study (NCT06807463) for celiac disease and was granted Fast Track designation by the U.S. FDA in May 2025. By blocking IL-15 activity, TEV-‘408 aims to reduce the immune-mediated destruction of melanocytes (pigment producing cells) resulting in white patches on the skin characteristic of vitiligo or reduce the IL-15-driven intestinal inflammation and damage characteristic of celiac disease.

About Vitiligo

Vitiligo is a chronic autoimmune skin disease characterized by the loss of pigment-producing cells (melanocytes), resulting in white patches that can appear anywhere on the body. Affecting people of all ages, skin types, and ethnicities, vitiligo has an estimated global prevalence of 0.5% to 2% though many individuals remain undiagnosed. Beyond its physical manifestations, vitiligo can impose a significant emotional and psychosocial burden, with many people experiencing anxiety, depression, and social isolation.

Current treatment options are limited. Only one topical therapy is approved, and its use is restricted to treating up to 10% of the body surface area. As a result, many people with vitiligo remain insufficiently treated, underscoring the need for a systemic durable, effective, and safe therapy that addresses both visible skin changes and overall quality of life.

About Royalty Pharma plc

Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, Johnson & Johnson’s Tremfya, GSK’s Trelegy, Roche’s Evrysdi, Servier’s Voranigo, Biogen’s Tysabri and Spinraza, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, among others, and 20 development-stage product candidates. For more information, visit www.royaltypharma.com.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.

Royalty Pharma Forward-Looking Statements

The information set forth herein does not purport to be complete or to contain all of the information you may desire. Statements contained herein are made as of the date of this document unless stated otherwise, and neither the delivery of this document at any time, nor any sale of securities, shall under any circumstances create an implication that the information contained herein is correct as of any time after such date or that information will be updated or revised to reflect information that subsequently becomes available or changes occurring after the date hereof. This document contains statements that constitute “forward-looking statements” as that term is defined in the United States Private Securities Litigation Reform Act of 1995, including statements that express the company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. Examples include discussion of Royalty Pharma’s strategies, financing plans, growth opportunities, market growth, and plans for capital deployment. In some cases, you can identify such forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “target,” “forecast,” “guidance,” “goal,” “predicts,” “project,” “potential” or “continue,” the negative of these terms or similar expressions. Forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to the company. However, these forward-looking statements are not a guarantee of Royalty Pharma’s performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances, and other factors. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of Royalty Pharma’s control and could cause its actual results to differ materially from those it thought would occur. The forward-looking statements included in this document are made only as of the date hereof. Royalty Pharma does not undertake, and specifically declines, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law. For further information, please reference Royalty Pharma’s reports and documents filed with the U.S. Securities and Exchange Commission (“SEC”) by visiting EDGAR on the SEC’s website at www.sec.gov.

Teva Forward-Looking Statements

This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to successfully develop our anti-IL-15 antibody (TEV-’408) for vitiligo and for Celiac disease; our ability to successfully execute the agreement with Royalty Pharma for the funding of anti-IL-15 development for vitiligo; our ability to successfully compete in the marketplace, including our ability to develop and commercialize additional pharmaceutical products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, and to sustain and focus our portfolio of generic medicines; and other factors discussed in our Quarterly Report on Form 10-Q for the third quarter of 2025, and in our Annual Report on Form 10-K for the year ended December 31, 2024, including in the sections captioned “Risk Factors” and “Forward-looking statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

Royalty Pharma Investor Relations and Communications

+1 (212) 883-6637
ir@royaltypharma.com

Teva Media Inquiries

TevaCommunicationsNorthAmerica@tevapharm.com

Teva Investor Relations Inquiries

TevaIR@Tevapharm.com

Source: Royalty Pharma plc

• Royalty Pharma to provide up to $500 million, including $75 million for Phase 2b funding and a Royalty Pharma option for an additional $425 million, to support Teva’s anti-IL-15 candidate, TEV-‘408 
• TEV-‘408 is currently in Phase 1b for treatment of vitiligo and in Phase 2a for celiac disease
• Funding agreement supports Teva’s Pivot to Growth strategy to accelerate its innovative pipeline and bring treatments to patients faster
  

NEW YORK and PARSIPPANY, N.J., Jan. 11, 2026 (GLOBE NEWSWIRE) — Royalty Pharma plc (Nasdaq: RPRX) and Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced a funding agreement of up to $500 million to accelerate the clinical development of Teva’s anti-IL-15 antibody, TEV-‘408. IL-15 is a key cytokine involved in multiple immune-mediated disease pathways. Emerging Phase 1b data from the ongoing TEV-‘408 vitiligo study provides preliminary support for IL-15 as a potential therapeutic target to treat a broad variety of autoimmune conditions. Teva anticipates sharing results from TEV-‘408 trials during 2026.

“We are delighted to enter into this second collaboration with Teva as they advance the development of TEV-‘408,” said Pablo Legorreta, Chief Executive Officer and Chairman of the Board of Royalty Pharma. “Vitiligo is a chronic autoimmune skin disease that can have a profound emotional and psychosocial burden, yet current treatment options are insufficient. Our continued collaboration underscores Royalty Pharma’s role as a long-term, trusted partner with a focus on funding innovation in potentially transformative and practice changing therapies.”

“Strategic collaborations fuel innovation. This agreement with Royalty Pharma enables us to advance our science more efficiently and accelerate our pipeline to deliver meaningful solutions for patients worldwide,” said Richard Francis, President, and CEO of Teva. “Vitiligo represents a significant unmet need, with only one approved topical treatment currently available and no systemic options. We are dedicated to driving scientific progress that brings new, effective therapies to people living with chronic autoimmune diseases.”

Transaction Terms

Under the terms of the agreement, Royalty Pharma will provide Teva up to $500 million to fund ongoing development costs for TEV-‘408 in vitiligo. This is comprised of $75 million in R&D co-funding to conduct a Phase 2b study targeted to start in 2026. Based on the future results from Phase 2b in vitiligo, Royalty Pharma will have an option to provide an additional $425 million to co-fund the Phase 3 development program. If approved and launched, Teva will pay a milestone to Royalty Pharma and a royalty on worldwide net sales of TEV-‘408.

About TEV-‘408

TEV-‘408 is an investigational human monoclonal antibody designed to inhibit interleukin-15 (IL-15), a cytokine involved in immune-mediated pathways. TEV-‘408 has a high affinity and potency (in vitro) as well as a prolonged half-life, with a planned convenient self-administration option for patients.

It is currently in Phase 1b (NCT06625177) for the treatment of vitiligo. The candidate is also being evaluated in a Phase 2a study (NCT06807463) for celiac disease and was granted Fast Track designation by the U.S. FDA in May 2025. By blocking IL-15 activity, TEV-‘408 aims to reduce the immune-mediated destruction of melanocytes (pigment producing cells) resulting in white patches on the skin characteristic of vitiligo or reduce the IL-15-driven intestinal inflammation and damage characteristic of celiac disease.

About Vitiligo

Vitiligo is a chronic autoimmune skin disease characterized by the loss of pigment-producing cells (melanocytes), resulting in white patches that can appear anywhere on the body. Affecting people of all ages, skin types, and ethnicities, vitiligo has an estimated global prevalence of 0.5% to 2% though many individuals remain undiagnosed. Beyond its physical manifestations, vitiligo can impose a significant emotional and psychosocial burden, with many people experiencing anxiety, depression, and social isolation.

Current treatment options are limited. Only one topical therapy is approved, and its use is restricted to treating up to 10% of the body surface area. As a result, many people with vitiligo remain insufficiently treated, underscoring the need for a systemic durable, effective, and safe therapy that addresses both visible skin changes and overall quality of life.

About Royalty Pharma plc

Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, Johnson & Johnson’s Tremfya, GSK’s Trelegy, Roche’s Evrysdi, Servier’s Voranigo, Biogen’s Tysabri and Spinraza, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, among others, and 20 development-stage product candidates. For more information, visit www.royaltypharma.com.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.

Royalty Pharma Forward-Looking Statements

The information set forth herein does not purport to be complete or to contain all of the information you may desire. Statements contained herein are made as of the date of this document unless stated otherwise, and neither the delivery of this document at any time, nor any sale of securities, shall under any circumstances create an implication that the information contained herein is correct as of any time after such date or that information will be updated or revised to reflect information that subsequently becomes available or changes occurring after the date hereof. This document contains statements that constitute “forward-looking statements” as that term is defined in the United States Private Securities Litigation Reform Act of 1995, including statements that express the company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. Examples include discussion of Royalty Pharma’s strategies, financing plans, growth opportunities, market growth, and plans for capital deployment. In some cases, you can identify such forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “target,” “forecast,” “guidance,” “goal,” “predicts,” “project,” “potential” or “continue,” the negative of these terms or similar expressions. Forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to the company. However, these forward-looking statements are not a guarantee of Royalty Pharma’s performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances, and other factors. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of Royalty Pharma’s control and could cause its actual results to differ materially from those it thought would occur. The forward-looking statements included in this document are made only as of the date hereof. Royalty Pharma does not undertake, and specifically declines, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law. For further information, please reference Royalty Pharma’s reports and documents filed with the U.S. Securities and Exchange Commission (“SEC”) by visiting EDGAR on the SEC’s website at www.sec.gov.

Teva Forward-Looking Statements

This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to successfully develop our anti-IL-15 antibody (TEV-’408) for vitiligo and for Celiac disease; our ability to successfully execute the agreement with Royalty Pharma for the funding of anti-IL-15 development for vitiligo; our ability to successfully compete in the marketplace, including our ability to develop and commercialize additional pharmaceutical products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, and to sustain and focus our portfolio of generic medicines; and other factors discussed in our Quarterly Report on Form 10-Q for the third quarter of 2025, and in our Annual Report on Form 10-K for the year ended December 31, 2024, including in the sections captioned “Risk Factors” and “Forward-looking statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

Royalty Pharma Investor Relations and Communications

+1 (212) 883-6637
ir@royaltypharma.com

Teva Media Inquiries

TevaCommunicationsNorthAmerica@tevapharm.com

Teva Investor Relations Inquiries

TevaIR@Tevapharm.com

Source: Royalty Pharma plc