UK Nursing Union Cuts Ties With Teva UK Amid Activist Pressure
Britain's Royal College of Nursing severed commercial ties with Teva UK under activist pressure, while the Israeli pharmaceutical giant continues robust financial growth and pipeline advancements.
The Royal College of Nursing (RCN), Britain's largest nursing union representing over 500,000 nursing professionals and support staff, has severed commercial ties with Teva UK, the British subsidiary of the Israeli pharmaceutical giant. The decision was announced in a letter sent by Carmel O'Boyle, chair of the RCN Council, to the pro-Palestinian group "Nurses for Palestine." O'Boyle stated that Teva UK will no longer sponsor the RCNi Nurse Leadership Conference on Migraine and Headache Services, scheduled for October 30, 2026. The union cited past legal controversies and regulatory fines faced by Teva as the official rationale for the move, although pro-Palestinian activists openly celebrated the decision as a significant victory for the BDS movement.
While the union's decision has drawn praise from activist groups targeting health sector sponsors, Teva's broader commercial and financial trajectory remains exceptionally strong. In its second-quarter earnings report, the company highlighted a 43% year-over-year surge in combined sales for its top three proprietary medications, surpassing the $1 billion threshold. Key growth drivers include Austedo, Ajovy—the very treatment targeted by the withdrawn conference sponsorship—and Uzedy. Teva's innovative portfolio is projected to account for 22% of total revenue this year, compared to just 9% in 2022.
Pipeline developments have also fueled optimism among investors and on Wall Street. Teva recently reported positive Phase 2a trial results for TEV-'408, an antibody targeting celiac disease that has received Fast Track designation from the FDA, with peak annual sales projected between $1.5 billion and $2 billion. Additionally, the company is awaiting a regulatory decision by the end of the year regarding its monthly olanzapine injection for schizophrenia. On Wall Street, Teva shares closed at $39.31, reflecting a robust 26% gain since the beginning of the year and nearly doubling in value over the past twelve months, bringing the company's market capitalization to approximately $46 billion ahead of its Q3 earnings release on November 3.
