Yes, TEFLON is a Scrabble word!

Letter values in Scrabble US: T 1, E 1, F 4, L 1, O 1, N 1.

Is it a valid word?

TEFLON is a valid word in the official Scrabble dictionary (US) and the UK Scrabble Dictionary, but not in Words with Friends (ENABLE).

a material used to coat cooking utensils and in industrial applications where sticking is to be avoided

Also: polytetrafluoroethylene.