Filed Pursuant to Rule 424(b)(3) Registration No. 333-102259 TEVA PHARMACEUTICAL FINANCE B.V. TEVA PHARMACEUTICALS INDUSTRIES LIMITED SUPPLEMENT NO. 4 DATED OCTOBER 26, 2004 TO PROSPECTUS DATED MARCH 21, 2003 AS SUPPLEMENTED BY SUPPLEMENT NO. 1 DATED APRIL 11, 2003 AND SUPPLEMENT NO. 2 DATED JULY 22, 2003 AND SUPPLEMENT NO. 3 DATED OCTOBER 1, 2003 This supplement is part of and should be read in conjunction with our prospectus dated March 21, 2003, as supplemented by Supplement No. 1, dated April 11, 2003; Supplement No. 2, dated July 22, 2003 and Supplement No. 3, dated October 1, 2003 (as supplemented, the "Prospectus"). The information we present in this supplement supersedes similar information previously included in the Prospectus. We are supplementing the information under the caption "Selling Securityholders" to revise certain information with respect to existing Selling Securityholders and the number of Debentures and ADRs owned and offered thereby and to include new Selling Securityholders and the number of Debentures and ADRs owned and offered thereby: [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] Principal Amount of Debentures Owned and ADRs Offered Offered Name and Address of Selling ADRs Beneficially Owned Hereby Hereby ADRs Beneficially Owned Securityholder Before Offering (1)(2) (in $1,000s) (1) After Offering (2) ------------------------- ------------- ------- ----------------------- Amount Percentage (3) Amount Percentage (3) ------ -------------- ------------- ------- ------- ------------- Banc of America Securities LLC (4) 6,993 * 300 6,993 0 N/A 100 W. 33rd Street New York, NY 10001 Deutsche Bank Securities Inc. (4) 233,106 * 10,000 233,106 0 N/A 1251 Avenue of the Americas, 26th Floor Mailstop NYC07-2638 New York, NY 10020 Swiss Re Financial Products Corporation 233,106 * 10,000 233,106 0 N/A 55 East 52nd Street New York, NY 10055 Tykhe Fund 46,621 * 2,000 46,621 0 N/A c/o Goldman Sachs 489 Fifth Avenue, 26th Floor New York, NY 10017 UBS AG London - F/B/O HFS 69,932 * 3,000 69,932 0 N/A c/o UBS 100 Liverpool Street London, EC2M 2RH United Kingdom -------- * Less than 1% (1) Assumes conversion of all of the selling securityholder's Debentures at a conversion rate of 23.3106 ADRs per each $1,000 principal amount of debentures (rounded down to the nearest whole ADR). (2) Includes, if applicable, conversion of all the selling securityholder's Teva Pharmaceutical Finance, LLC 1.50% Convertible Senior Debentures due 2005 at a conversion rate of 23.1934 ADRs per each $1,000 principal amount of debentures (rounded down to the nearest whole ADR). Includes, if applicable, conversion of all the selling securityholder's Teva Pharmaceutical Finance, LLC 0.75% Convertible Senior Debentures due 2021 at a conversion rate of 23.3036 ADRs per each $1,000 principal amount of debentures (rounded down to the nearest whole ADR). (3) Assumes that debentures held by other holders are not converted. (4) The selling securityholder is a broker-dealer. (5) The selling securityholder is an affiliate of a broker-dealer. -2-