Pharma - Boehringer with Erlospus - more speed in research expenses
Boehringer Ingelheim Pharmaceutical Company reported an increase in sales in the first half of the year and plans to invest more in research. The growth in the Animal Health business field fell short of expectations, as the company announced in Ingelheim.
The company recorded a revenue growth of 7.4% in the first six months, amounting to 12.9 billion Euro. Human Pharma sales rose by 9.3% to 10.3 billion Euro, while Tiergesundheit sales increased by only 0.9% to 2.5 billion Euro. The company expects a slight sales growth for the entire year 2024 with its worldwide approximately 53,500 employees, as stated in April.
Ofev, Jardiance, and Nexgard were major revenue contributors
Once again, major revenue contributors in the Human Pharma sector were Ofev, a lung medication, and Jardiance, a diabetes and heart failure treatment, which is now also approved in Europe and the USA for the treatment of chronic kidney diseases. In the Animal Health sector, sales with Nexgard, a parasite control medication, showed a significant increase.
Boehringer aims to bring 25 new treatment options to the market in Human Pharma by 2030, and an additional 20 products in Animal Health by 2026. Given this, the company is investing heavily in research and development, having spent around 5.8 billion Euro in 2023. From 2024 to 2028, it is planned to invest around 36 billion Euro in research and development.
CEO Hubertus von Baumbach recently announced that investments will exceed the previously announced figures and that the pace will be accelerated. He referred to promising data from studies on the treatment of Non-Alcoholic Steatohepatitis (MASH), studies from Oncology, developments in the field of mental health, and developments against Lung Fibrosis. This provides a reason to expedite preparations for market introduction of these drugs in the late stages.
The pharmaceutical industry giant, Pharma, known as Boehringer Ingelheim, reported an uptick in sales during the Quarter numbers, showing a 7.4% revenue growth. Boehringer Ingelheim, situated in Rhineland-Palatinate, attributes this growth to its Human Pharma sector, with sales of Ofev and Jardiance significantly contributing to its earnings.
