Teva Pharmaceutical's stock surged 12.02% during intraday trading on Wednesday, driven by the company's better-than-expected first-quarter financial results and a strategic acquisition announcement.

The pharmaceutical giant reported adjusted earnings per share of $0.53 for Q1 2026, surpassing analyst consensus estimates of $0.46 to $0.48. Revenue reached $3.98 billion, also exceeding expectations of approximately $3.79 billion to $3.81 billion. The strong performance was attributed to robust growth in key innovative products including AUSTEDO, AJOVY, and UZEDY, which collectively grew by 41% year-over-year, demonstrating the success of Teva's "Pivot to Growth" strategy.

Additionally, Teva announced a definitive agreement to acquire Emalex Biosciences for $700 million in cash, adding ecopipam, a first-in-class therapy for Tourette syndrome with positive Phase 3 data, to its neuroscience pipeline. The company maintained its 2026 revenue guidance range of $16.4 billion to $16.8 billion while updating its earnings outlook to reflect the Emalex transaction.