Teva Announces Proposed Public Offerings Of Amer Depositary Shrs And Mandatory Convertible Preferred Shares In Connection With Pending Acquisition Of Actavis Generics

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) announced today that it is commencing concurrent offerings totaling approximately $6.75 billion, consisting of approximately $3.375 billion of its American Depositary Shares ("ADSs"), each representing one Teva ordinary share, and approximately $3.375 billion of its Mandatory Convertible Preferred Shares. Final amounts of these securities will be determined based on market and other conditions. Teva intends to use the net proceeds from these offerings towards the cash portion of the purchase price for its previously announced acquisition of Allergan plc's worldwide generic pharmaceuticals business ("Actavis Generics"), and to pay related fees and expenses, for the pending acquisition of Rimsa or otherwise for general corporate purposes. These offerings are separate public offerings made by means of separate prospectus supplements and are not contingent on each other, or upon the consummation of the Actavis Generics or Rimsa acquisitions. If for any reason the acquisitions do not close, Teva expects to use the net proceeds from these offerings for general corporate purposes. Teva intends to grant the underwriters in each offering the option to purchase up to an additional 10% of the ADSs and up to an additional 10% of the Mandatory Convertible Preferred Shares, in each case, solely to cover overallotments, if any. Barclays, BofA Merrill Lynch, Citigroup, Morgan Stanley, BNP Paribas, Credit Suisse, HSBC, Mizuho Securities, RBC Capital Markets and SMBC Nikko are acting as the joint book-running managers for the offerings. The ADSs and Mandatory Convertible Preferred Shares are being offered for sale pursuant to a prospectus and related prospectus supplements that constitute a part of Teva's shelf registration statement filed with the Securities and Exchange Commission (the "SEC") on Form F-3 on November 30, 2015. Before making an investment, potential investors should read the preliminary prospectus supplements and accompanying base prospectus, together with the information incorporated by reference therein, and the other documents that Teva has filed with the SEC for more complete information about Teva and these offerings. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Teva, any underwriter or any dealer participating in the applicable offering will arrange to send you the prospectus and related prospectus supplement(s) if you request it by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 at 1 (888) 603-5847 and barclaysprospectus@broadridge.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717 at 1 (800) 831-9146; Merrill Lynch, Pierce Fenner & Smith Incorporated, Attn: Prospectus Department, 222 Broadway, New York, NY 10038, at dg.prospectus_requests@baml.com; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any security of Teva, nor will there be any sale of any such security in any jurisdiction in which such offer, sale or solicitation would be unlawful. The offerings may be made only by means of the applicable prospectus supplement and accompanying base prospectus. In particular, the offer and sale of the Mandatory Convertible Preferred Shares can only be conducted outside of Israel.