Boehringer Ingelheim achieves modest growth in the first half of 2018

          In the first half of 2018, Boehringer Ingelheim made important advances in the research and development area and thereby further strengthened its basis for developing new medical breakthroughs for patients. Of some 80 development projects, 65 per cent have the potential for a therapeutic breakthrough or to be the first active ingredient in a new class. Good study results for empagliflozin in the treatment of type 1 diabetes in addition to insulin therapy, and the US Food and Drug Administration's fast-track designation (i.e. a faster approval process than usual) for nintedanib in the treatment of systemic sclerosis, are seen as important milestones.

          "We concentrate on diseases for which there is currently no satisfactory treatment or prevention for people and animals. We are affirmed in our strategy and the focus on new, innovative approaches," said Hubertus von Baumbach, Chairman of the Board of Managing Directors. "We will also in future be able to offer patients innovations that provide a significant improvement to the therapeutic options – even the only options in some diseases." The focus in human pharmaceuticals is particularly on the fields of cardiometabolic diseases, oncology, respiratory diseases, diseases of the central nervous system and immunology.

          In the first half of 2018, Boehringer Ingelheim achieved net sales of 8.6 billion euros. Currency-adjusted net sales growth in both of the most important business areas -- human pharmaceuticals and animal health -- was in the mid-single-digit percentage range. Services for Sanofi provided and accounted for last year in conjunction with the business swap have now been largely completed, which has a negative impact on group net sales. For the current financial year, Boehringer Ingelheim continues to expect modest growth in net sales on a comparable basis.

          "In the first half of the year, we have grown in all our businesses, as expected, a little less strongly than in the extraordinarily successful 2017 financial year," explained von Baumbach. "One reason, which we took account of in planning, is the increased generic competition in the important Japanese market for the blood pressure medicines MICARDIS(R) and TWYNSTA(R)."

          With human pharmaceuticals, Boehringer Ingelheim's largest business area, the company achieved net sales of 6.1 billion euros in the first half of the year. This corresponds to a currency-adjusted increase in the mid-single-digit percentage range. The business thus contributed around 71 per cent of total net sales. Diabetes medicines in particular continued to be growth drivers. JARDIANCE(R), for the treatment of type 2 diabetes, increased by a currency-adjusted 68 per cent to 664 million euros. Boehringer Ingelheim markets its diabetes medicines together with Eli Lilly and Company. OFEV(R), for the treatment of idiopathic pulmonary fibrosis (IPF), also registered significant growth: net sales increased by a currency-adjusted 35 per cent to 531 million euros.

          "We are also very pleased with the development of our animal health business, which is growing satisfactorily, despite extensive integration work," said Michael Schmelmer, member of the Board of Managing Directors responsible for Finance. "We expect that we will grow in line with the animal health market in the 2018 financial year." Boehringer Ingelheim generated around two billion euros of net sales in animal health in the first half of the year, which corresponds to a currency-adjusted increase in the mid-single-digit range. This business thus contributed nearly a quarter of total net sales. The best-selling products were the two antiparasitic medicines NEXGARD(R), at 331 million euros, and FRONTLINE(R), at 215 million euros.

          Net sales in biopharmaceutical contract manufacturing increased to 298 million euros and thus contributed about three per cent of total sales.

          Furthermore, Boehringer Ingelheim gave special focus in the first half of 2018 to major investments. "A few days ago, we approved 200 million euros for a new plant for veterinary products in France in order to meet global market demand and 230 million euros for a new biological research center in Biberach, Germany," Schmelmer said. "In addition, there are numerous further investments in various countries."

          Boehringer Ingelheim

          Improving the health and quality of life of patients is the goal of the research-driven pharmaceutical company Boehringer Ingelheim. The focus in doing so is on diseases for which no satisfactory treatment option exists to date. The company therefore concentrates on developing innovative therapies that can extend patients' lives. In animal health, Boehringer Ingelheim stands for advanced prevention.

          Family-owned since it was established in 1885, Boehringer Ingelheim is one of the pharmaceutical industry's top 20 companies. Some 50,000 employees create value through innovation daily for the three business areas human pharmaceuticals, animal health and biopharmaceuticals. In 2017, Boehringer Ingelheim achieved net sales of nearly 18.1 billion euros. R&D expenditure, exceeding three billion euros, corresponded to 17.0 per cent of net sales.

          As a family-owned company, Boehringer Ingelheim plans in generations and focuses on long-term success. The company therefore aims at organic growth from its own resources with simultaneous openness to partnerships and strategic alliances in research. In everything it does, Boehringer Ingelheim naturally adopts responsibility towards mankind and the environment.

          More information about Boehringer Ingelheim can be found on www.boehringer-ingelheim.com or in our annual report: http://annualreport.boehringer-ingelheim.com.

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