Continued strong growth at Boehringer Ingelheim

COPENHAGEN - In 2006 once again Boehringer Ingelheim continues to be one of the world’s fastest growing pharmaceutical companies. As the company, based in Ingelheim am Rhein, announced, it was thanks in particular to the strong therapeutic potential of the medications it has launched in recent years that net sales were increased markedly to EUR 5.3 billion in the first half of 2006, a rise of 17% (+15% exchange rate adjusted) compared to the previous year.
calendar icon 10 August 2006
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Boehringer Ingelheim

Operating income (comparable to EBIT) too achieved a gratifying improvement, amounting to more than EUR 1 billion, an increase of 34% against the comparison period. Efficient capacity usage, good regional distribution of net sales and measures to raise productivity contributed decisively to this improvement. The return on sales (operating income/net sales) was 19%. The company’s sustained growth again led to more jobs being created worldwide (+3.5% or almost 1,300 new positions). In Germany the number of new jobs grew by nearly 3% (+300 new positions) to some 10,500, including apprentices.

“Our business developed very well in the first half of 2006 and actually exceeded our expectations. We’ll make every effort to maintain this high level for the whole year too,” said Dr Alessandro Banchi, Chairman of Boehringer Ingelheim’s Board of Managing Directors, and responsible for the Corporate Board Division Pharma Marketing and Sales. Thanks to innovative drugs, the company succeeded in maintaining its above-average growth rate, despite the rather difficult business environment in a number of countries. ”We also intend to outpace the market for the seventh successive year. Our success shows that our products help patients. That’s what we are working for.” For the whole year, Boehringer Ingelheim expects lower net sales growth rate due to the launch in the USA of generic versions of the important drug Mobic® as well as a return on net sales at the same level as in the first half-year.

The biggest contribution to net sales came from the respiratory product Spiriva® for chronic obstructive pulmonary disease (COPD), the leading medication worldwide in this indication. Spiriva® achieved net sales of EUR 640 million in the first half-year (+55 % against the previous year). Net sales of Micardis®, a medication for reducing blood pressure that stands out for its around the clock efficacy, also increased markedly, rising by 32% to EUR 480 million. Mobic®, for treating arthritis, and Flomax®/Alna®, for the treatment of benign prostatic hyperplasia, continue to be high-turnover medications for Boehringer Ingelheim. Mobic® was up 6.5% against the previous year to almost EUR 460 million.

The further development of Mobic® sales will, however, be impacted by the appearance of generic competitor products on the US market from July. Flomax® rose by 22% to EUR 450 million. A medication with good growth potential is Sifrol®/Mirapex®, a drug against Parkinson’s disease that since the spring has also been approved in Europe for the indication restless legs syndrome (RLS). It grew by 33% to EUR 260 million.

In the Prescription Medicines (PM) business, which accounts for some 80% of Boehringer Ingelheim’s net sales, there was a 21% rise in net sales (+19% exchange rate adjusted) to EUR 4.2 billion. In terms of countries and regions, the USA was once again the locomotive, with a 48% share of total PM net sales and a growth rate of 36%. Germany grew by more than 3% to EUR 230 million. Overall, the Europe region saw an 8% improvement to around EUR 1.1 billion, corresponding to 26% of global PM net sales. The Asia, Africa, Australasia (AAA) region expanded by some 5% to EUR 700 million.

In addition to PM products, the Consumer Health Care (CHC) business rose by 5% to more than EUR 520 million and the Animal Health business gained 9% (+7% exchange rate adjusted) to more than EUR 180 million continued to develop favourably. The 6% decline to EUR 220 million in the Biopharmaceuticals business was caused by extraordinary factors from the previous year and had been anticipated.

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