Sales of the Rhineland-Palatinate company Boehringer Ingelheim grew by 6.6 percent last year to almost 19.7 billion euros, as reported by the newspaper Handelsblatt. On the contrary, Bayer suffered a drop in sales, also due to the negative effects of the exchange rate. While Bayer's pharmaceutical business stagnated, Boehringer's grew a good ten percent on a currency-neutral basis.
Diabetes drug Jardiance was again a key sales driver for Boehringer, he said. With currency-adjusted sales growth of more than 30 percent to almost 7.4 billion euros, it was able to increase significantly. But the drug Ofev against pulmonary fibrosis also generated almost 13 percent more, with 3.5 billion euros.
Boehringer invests billions in research
The future outlook for Boehringer also seems positive. The head of the company, Hubertus von Baumbach, appears confident and announced that he wants to accelerate the development of new treatment options. Boehringer plans to bring a total of 25 new therapies to market by 2030. To achieve this, von Baumbach increased its research and development spending by 14 percent last year and wants to increase it this year by a double-digit percentage as well.
The company also has ambitious research and development plans. Boehringer would like to invest a total of €36 billion in this area over the next five years. This represents a significant increase compared to the €22 billion invested in previous years.
The outlook for the current year is also promising. CEO von Baumbach expects further growth. This is where the flagship product Jardiance plays an important role. It received additional approval in Europe and the United States last year for the treatment of chronic kidney disease, potentially reaching 850 million people.
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