- Human Pharma sales up 10.3%* to EUR 20.8 bn, driven by
JARDIANCE® and OFEV®
- Animal Health sales up 6.9 %* to EUR 4.7 bn, fueled by new
product launches
- R&D expenditures increase by 14.2% to EUR 5.8 bn
Boehringer Ingelheim today announced a strong acceleration of
its pipeline in 2023, as pivotal trials in key research areas
progressed as planned. Research & Development (R&D)
investments increased by 14.2% to EUR 5.8 billion. R&D
investments were substantial, at 22.5% of net sales. Group net
sales rose by 9.7%* to EUR 25.6 billion in 2023, driven by 10.3%*
growth in Human Pharma and 6.9%* growth in Animal Health. Both
businesses outperformed their markets.
In 2023, regulators awarded five additional FDA fast-track
designations and one FDA breakthrough therapy designation in the
US, as well as one EMA PRIME scheme acceptance in Europe. With a
focus on therapeutic research areas in cardiovascular, renal and
metabolic diseases (CRM), oncology, respiratory diseases,
immunology, mental health, and retinal health, the company is a
pioneer in breakthrough treatments in areas of high unmet patient
needs.
“I am excited to see how balanced and healthy our pipeline looks
today,” said Hubertus von Baumbach, Chairman of the Board of
Managing Directors. “We are determined to accelerate the
development of our range of new treatments and make them available
to patients in the best and fastest ways. In doing so, it is our
mission to not only help patients, but also to help make healthcare
systems fairer and better.”
Human Pharma portfolio shows strong growth
JARDIANCE®, which is used to treat type 2 diabetes and heart
failure, continued its strong momentum in 2023, as sales rose by
31.0%* to EUR 7.4 billion. Sales of OFEV®, a medicine for the
treatment of patients with idiopathic pulmonary fibrosis and
certain fibrosing interstitial lung diseases, increased 12.8%* to
EUR 3.5 billion.
JARDIANCE® also received regulatory approval in Europe and the
United States for a third indication, the treatment of chronic
kidney disease. Some 850 million people are estimated to suffer
from this chronic disease worldwide. JARDIANCE® can now potentially
help manage cardiovascular-renal-metabolic conditions of more than
1 billion people.
Continued high investments in Human Pharma R&D
Compounds in the late-stage portfolio accelerated significantly
in oncology, CRM and mental health. Brigimadlin advanced into the
key trial for the treatment of dedifferentiated liposarcoma, a rare
cancer with limited treatment options so far. The clinical
development of zongertinib was accelerated, based upon positive
early clinical data. Survodutide showed groundbreaking Phase II
results in liver disease due to metabolic dysfunction-associated
steatohepatitis (MASH), and also moved into Phase III obesity
trials.
R&D investments in Human Pharma rose to EUR 5.2 billion in
2023, 25.1% of Human Pharma net sales (EUR 20.8 billion).
Additionally, Boehringer Ingelheim also stepped up its investments
in digital technologies and IT for R&D to seize new
opportunities, including the use of Artificial Intelligence.
“Our 2023 investments rank us among the top R&D investors in
the industry,” said Michael Schmelmer, Member of the Board of
Managing Directors with responsibility for Finance & Group
Functions. “We are committed to upholding these high investment
levels to ensure that we bring innovation to patients as fast as
possible across our entire pipeline. Our more than 53,500 employees
know that every day that we gain can make a real difference in
patients' lives.”
Animal Health: strong growth from new product
launches
With 6.9%* growth in net sales to EUR 4.7 billion in 2023, the
Animal Health business strengthened its market share in the pets,
equine and livestock business segments. Growth was driven by
increased demand across its diverse portfolio, including pet
parasiticides, pet therapeutics and vaccines. NEXGARD®, a soft chew
for flea and tick protection in dogs and the company’s largest
product in the Animal Health portfolio, rose by 17.2%* to EUR 1.2
billion.
In 2023, Boehringer Ingelheim launched four new major products:
SENVELGO® for cats with diabetes, NexGard® PLUS to protects dogs
against fleas, ticks, heartworm disease, roundworms and hookworms,
NexGard® COMBO that protects against fleas and ticks, prevents
heartworm disease, and treats and controls roundworms, hookworms,
and tapeworms and FRONTPRO®, a non-prescription chewable tablet for
the control of fleas and ticks on dogs. The new products all
contributed to sales growth.
Ongoing high Capital Expenditure
To support the company’s growth, Boehringer announced a 5-year,
EUR 7 billion capital investment plan last year. In 2023, Capital
Expenditure reached EUR 1.2 billion under this program. Prominent
investments in Germany include the Chemical Innovation Plant and
the biomass power plant in Ingelheim, as well as the Biologicals
Development Center in Biberach. Over the past five years,
Boehringer’s capital investments reached EUR 6.0 billion, of which
EUR 2.9 billion in Germany alone.
Sustainable Development
Boehringer also further evolved its sustainability program to
deepen the focus on health equity in areas where it can make the
most relevant contribution to society and environment. Important
initiatives include support for the public-private Defeat-NCD
Partnership which aims for health coverage for non-communicable
diseases in less developed regions and the “Angels” initiative,
which has become the largest stroke community in the world and
helped 16 million stroke patients in 155 countries receive
optimized care. “STOP Rabies” last year provided 43.2 million
vaccine doses in endemic countries, 8,000 of these via drone
delivery to rural communities in Kenya.
In 2023, Boehringer received the German Sustainability Award for
its global efforts in pioneering sustainable transformation in the
pharmaceutical industry and its decarbonization strategy was
validated by the Science Based Target initiative to be in alignment
with the 2015 Paris Climate Accord.
Outlook
The company plans to start ten new phase II and III trials in
the next 12-18 months, aiming for 25 new treatment launches in
Human Pharma until 2030. In Animal Health, 20 additional launches
are expected across markets until 2026, including product updates,
indication expansion and new products. For 2024, Boehringer
Ingelheim expects a slight year-on-year increase in revenues on a
comparable basis, adjusted for currency and extraordinary
effects.
*sales growth numbers are adjusted for currency effects
Boehringer Ingelheim
Boehringer Ingelheim is a biopharmaceutical company active in
both human and animal health. As one of the industry’s top
investors in Research and Development, the company focuses on
developing innovative therapies in areas of high unmet medical
need. Independent since its foundation in 1885, Boehringer takes a
long-term perspective, embedding sustainability along the entire
value chain. More than 53,500 employees serve over 130 markets to
build a healthier, more sustainable, and equitable tomorrow. Learn
more at www.boehringer-ingelheim.com.
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