Teva Settles Patent Litigation with Pfizer on Celebrex; Has Received Tenative FDA Approval for All Strengths; May Start Generic Versions in December

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) announced today that itssubsidiary Teva Pharmaceuticals USA, Inc. has entered into a settlement withPfizer related to Teva's generic version of Celebrex® (celecoxib) 50, 100, 200and 400 mg capsules in the United States. Under the terms of the settlement,Teva may launch its generic versions in December, 2014, or earlier undercertain circumstances. Teva has received tentative approval from the U.S. Foodand Drug Administration (FDA) for all strengths and believes that it isfirst-to-file on at least the 100, 200 and 400 mg capsules. Sales of Celebrex®were $2.2 billion in the U.S. according to IMS data as of December, 2013.About TevaTeva Pharmaceutical Industries Ltd. (NYSE: TEVA) is a leading globalpharmaceutical company, committed to increasing access to high-qualityhealthcare by developing, producing and marketing affordable generic drugs aswell as innovative and specialty pharmaceuticals and active pharmaceuticalingredients. Headquartered in Israel, Teva is the world's leading generic drugmaker, with a global product portfolio of more than 1,000 molecules and adirect presence in approximately 60 countries. Teva's branded businesses focuson CNS, oncology, pain, respiratory and women's health therapeutic areas aswell as biologics. Teva currently employs approximately 45,000 people aroundthe world and reached $20.3 billion in net revenues in 2013.Teva's Safe Harbor Statement under the U. S. Private Securities LitigationReform Act of 1995:This release contains forward-looking statements, which are based onmanagement's current beliefs and expectations and involve a number of knownand 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-lookingstatements. Important factors that could cause or contribute to suchdifferences include risks relating to: our ability to develop andcommercialize additional pharmaceutical products; competition for ourinnovative products, especially COPAXONE^®(including competition fromorally-administered alternatives, as well as from potential purported genericequivalents); the possibility of material fines, penalties and other sanctionsand other adverse consequences arising out of our ongoing FCPA investigationsand related matters; our ability to achieve expected results from the researchand development efforts invested in our pipeline of specialty and otherproducts; our ability to reduce operating expenses to the extent and duringthe timeframe intended by our cost reduction program; our ability to identifyand successfully bid for suitable acquisition targets or licensingopportunities, or to consummate and integrate acquisitions; the extent towhich any manufacturing or quality control problems damage our reputation forquality production and require costly remediation; our potential exposure toproduct liability claims that are not covered by insurance; increasedgovernment scrutiny in both the U.S. and Europe of our patent settlementagreements; our exposure to currency fluctuations and restrictions as well ascredit risks; the effectiveness of our patents, confidentiality agreements andother measures to protect the intellectual property rights of our specialtymedicines; the effects of reforms in healthcare regulation and pharmaceuticalpricing, reimbursement and coverage; governmental investigations into salesand marketing practices, particularly for our specialty pharmaceuticalproducts; uncertainties related to our recent management changes; the effectsof increased leverage and our resulting reliance on access to the capitalmarkets; any failure to recruit or retain key personnel, or to attractadditional executive and managerial talent; adverse effects of political oreconomical instability, major hostilities or acts of terrorism on oursignificant worldwide operations; interruptions in our supply chain orproblems with internal or third-party information technology systems thatadversely affect our complex manufacturing processes; significant disruptionsof our information technology systems or breaches of our datasecurity; competition for our generic products, both from other pharmaceuticalcompanies and as a result of increased governmental pricing pressures;competition for our specialty pharmaceutical businesses from companies withgreater resources and capabilities; decreased opportunities to obtain U.S.market exclusivity for significant new generic products; potential liabilityin the U.S., Europe and other markets for sales of generic products prior to afinal resolution of outstanding patent litigation; any failures to comply withcomplex Medicare and Medicaid reporting and payment obligations; the impact ofcontinuing consolidation of our distributors and customers; significantimpairment charges relating to intangible assets and goodwill; potentiallysignificant increases in tax liabilities; the effect on our overall effectivetax rate of the termination or expiration of governmental programs or taxbenefits, or of a change in our business; variations in patent laws that mayadversely affect our ability to manufacture our products in the most efficientmanner; environmental risks; and other factors that are discussed in ourAnnual Report on Form 20-F for the year ended December 31, 2013 and in ourother filings with the U.S. Securities and Exchange Commission.Forward-looking statements speak only as of the date on which they are madeand we assume no obligation to update or revise any forward-looking statement,whether as a result of new information, future events or otherwise.