INGELHEIM, Germany--(BUSINESS WIRE)--Boehringer Ingelheim today reported a strong performance in 2022, a year in which 30 million patients benefited from its innovative medicines, while deepening investments in the search for new treatments. Research & development investments reached 5 billion EUR, or 21 percent of net sales. Net sales rose by a currency-adjusted 10.5 percent to 24.1 billion EUR.
“2022 has shown that our long-term commitment to medical research is the right strategy. For some patient conditions that were until recently deemed difficult to treat, we have now found medical entities that can be true breakthroughs,” said Hubertus von Baumbach, Chairman of the Board of Managing Directors. “The acceleration of our broad pipeline demonstrates our commitment to transform the treatment of cardiovascular-renal diseases, inflammation, and respiratory diseases, as well as mental health, oncology and retinal diseases.”
Development of the pipeline progressed very well in 2022. Boehringer Ingelheim received one Breakthrough Designation, three Fast Track Designations, and two Orphan Drug Designations from the FDA. In the next seven years the company expects about 20 regulatory approvals in human pharma. Throughout the current year, Boehringer Ingelheim expects to present additional data from its pipeline.
In 2022 operating income at Group level rose by 1.4 percent to 4.8 billion EUR, while income after taxes amounted to 3.2 billion EUR.
“The strong commercial performance provides a solid base to finance our late-stage pipeline, mid-term growth opportunities, as well as further investments in new technologies. It will enable us to address future unmet patient needs,” said Michael Schmelmer, Member of the Board of Managing Directors with responsibility for Finance & Group Functions.
JARDIANCE® and OFEV® drive sales growth in Human Pharma
The Human Pharma business achieved currency-adjusted net sales growth of 13.6 percent to 18.5 billion EUR, driven by JARDIANCE® and OFEV®.
JARDIANCE®, which is used to treat type 2 diabetes and heart failure with reduced and preserved ejection fraction, was the company’s most significant growth and revenue contributor, with net sales of 5.8 billion EUR and a currency-adjusted growth of 39.1 percent in 2022.
OFEV® was the company’s second-strongest revenue contributor. OFEV® is a medicine for the treatment of patients with idiopathic pulmonary fibrosis as well as certain fibrosing interstitial lung diseases. OFEV® generated net sales of 3.2 billion EUR, representing a currency-adjusted growth of 20.6 percent in 2022.
The biopharmaceuticals contract manufacturing business achieved annual net sales of over 1 billion EUR, reinforcing the company’s position as a leading manufacturer of biopharmaceuticals worldwide.
Animal Health to launch around 20 new products, starting in 2023
Animal Health experienced the effects of the economic slowdown in North America, intense competition and declining net sales of swine vaccines in China. Net Sales were on a comparable level with 2021 at 4.6 billion EUR in 2022. NEXGARD®, a medication for flea and tick protection for dogs, rose by currency-adjusted 8.0 percent to reach more than 1 billion EUR in annual sales, marking an industry-first.
R&D investments in Animal Health amounted to 464 million EUR in 2022, or 10 percent of the business unit’s sales, well exceeding industry average. Animal Health has an ambitious schedule to launch about 20 new products, starting this year, including novel flea and tick products for cats and dogs and a breakthrough oral product for diabetes in cats.
Looking ahead, Boehringer Ingelheim anticipates moderate growth in 2023, on a comparable basis, with a slight increase in its operating income, creating the fundamentals for bringing more innovative medicines to patients and animals.
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