2024 Year in Review: A Year of Growth and Innovation

Jim Margaritis

Vice President, APAC Cluster Head and General Manager Australia and New Zealand
Teva Pharmaceuticals

How would you describe 2024 for Teva, and what were some of the major highlights of the year for the company?

For Teva, 2024 has been a year of significant progress as we continue executing our Pivot to Growth strategy globally. We’re focused on driving innovation and sustainable growth, with a strong emphasis on R&D, supported by the groundbreaking work of our scientists at Teva’s Global Research Centre in Sydney.
This year, we’ve seen exceptional momentum, achieving seven consecutive quarters of growth and a recent increase in our full-year guidance for 2024 the second raise this year. In the last 3 months, Teva's rating was upgraded by 3 of the leading ratings agencies, a reflection of our strategy's successful execution and renewed confidence in Teva.
In Australia and New Zealand, we are advancing the Pivot to Growth strategy, with plans to double our business in the next five years. Milestones this year include the successful launch of RIVAROXABAN-TEVA, and we’re also preparing for the launch of MISTY-DUO ALLERGY.

Broadly speaking, what are your thoughts on the current state of the pharmacy landscape?

Pharmacists are integral to the healthcare system, often serving as the first point of contact for patients. Their accessibility and expertise make them essential in managing health concerns, from minor ailments to managing chronic conditions.
The recent announcement by Minister Butler at the Pharmacy Guild Annual Dinner, establishing a new Master of Pharmacy program granting the title of Doctor of Pharmacy, is a significant step forward in expanding pharmacists’ scope of practice. 

What are some challenges for the pharmacy industry and community pharmacists?

The pharmacy industry faces significant challenges, including supply chain issues due to Australia’s lower medicine prices. Community pharmacists are also contending with recruitment and retention pressures in rural and remote areas, which can limit access to essential services in underserved communities. 
We see pharmacists as key partners in ensuring patient awareness, understanding, and adherence to treatments, and we look forward to continuing to build strong collaboration to benefit patients.

What are Teva’s plans for 2025?

In 2025, we will continue to execute our Pivot to Growth strategy globally. Locally, key initiatives include launching an innovative treatment for Motor Neurone Disease (MND) and expanding our high-impact generic launches. We’ll also leverage the pioneering work of our world-class R&D Centre of Excellence at Macquarie Park to drive innovation and growth. It’s an exciting time ahead, with the potential to drive meaningful advancements in healthcare and create a lasting impact on patient outcomes.

Date of Preparation: November 2024, GX-AU-00023. Date of Expiration: November 2025.

Source: 

Pharmacy Daily Year in Review Special Report, 9th December 2025.