Teva Pharmaceutical Amends ADS Agreement Ahead of NYSE Listing

What Happened
Teva Pharmaceutical Industries Ltd. announced (Item 3.03) that on August 31, 2026 it executed Amendment No. 1 to its Second Amended and Restated Deposit Agreement (with Citibank, N.A. as depositary) and updated the form of American Depositary Receipt (ADR). The amendment creates a mechanism for the mandatory exchange of American depositary shares (ADSs) for the company’s ordinary shares in connection with termination of the ADS program. Each ADS will be exchanged for one ordinary share. The company previously informed the depositary of its intent to list its ordinary shares on the NYSE and instructed termination of the ADS program in its Form 10-Q filed July 29, 2026.

Key Details

• Amendment executed: August 31, 2026 (Amendment No. 1 to the deposit agreement dated originally Dec 4, 2018).
• Depositary: Citibank, N.A.; ADR form updated and filed as exhibits.
• Exchange mechanism: mandatory conversion of ADSs to ordinary shares on a one-for-one basis.
• Effective/termination date: expected at open of business (New York time) on September 14, 2026, when outstanding ADSs will be cancelled and replaced by NYSE-listed ordinary shares.

Why It Matters
This change materially affects holders of Teva ADSs: ADSs will be cancelled and converted into NYSE-listed ordinary shares on a mandatory basis, shifting how investors hold and trade Teva securities (from ADSs to directly listed ordinary shares). The amendment formalizes the process and updates the ADR. Investors should note the conversion date (Sept 14, 2026) and that one ADS equals one ordinary share; consult your broker or tax advisor for details on custody, trading access, and any tax or fee implications. Exhibits (Amendment No. 1 and the ADR) were filed with the 8-K for the full terms.