BOEHRINGER Ingelheim (BI) today reported a strong performance in 2022, with research and development investments reaching 5b (A$7.4b), or 21% of net sales.
Net sales rose by a currency-adjusted 10.5% to 24.1b (A$39.11b).
"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, mental health, oncology and retinal diseases."
Development of the pipeline progressed in 2022 with Boehringer Ingelheim receiving 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% to 4.8b (A$7.79b), while income after taxes was 3.2b (A$5b).
"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.
The Human Pharma business achieved currency-adjusted net sales growth of 13.6% to 18.5b (A$30b), driven by drugs Jardiance and Ofev.
Jardiance was the most significant growth and revenue contributor, with net sales of 5.8b (A$9.4b) and a currency-adjusted growth of 39.1% in 2022.
Ofev generated net sales of 3.2b (A$5b) and a currency-adjusted growth of 20.6% in 2022.
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