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FULL YEAR: BOEHRINGER INGELHEIM'S SALES UP 10%
Apr. 22, 2024
Source: Boehringer Ingelheim news release
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."
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.
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