Medicines reached a record 30 million people, driven by Empagliflozin and Nintedanib
• R&D investments of 5 billion EUR, or 21 percent of global net sales
• Net sales in the IMETA region rise by 12 percent, up by 83 million EUR
• Human Pharma pipeline acceleration: up to 20 new product launches expected in the next seven years
• Net sales rise 10.5 percent (currency adjusted), up strongly to 24.1 billion EUR
Boehringer Ingelheim today reported a strong performance in 2022, a year in which 30 million patients benefited from its innovative medicines across the globe, while deepening investments in the search for new treatments. Research and 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 steadily 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.
Strong Growth in IMETA
In India, Middle East, Turkey, and Africa (IMETA) region, the company recorded net sales of 752 million EUR (2021: 670 million EUR), a 12% increase compared to the previous year.
Mohammed Tawil, Regional Managing Director and Head of Human Pharma at Boehringer Ingelheim India, Middle East, Turkey and Africa (IMETA) said: “We are proud of the strong financial results Boehringer Ingelheim has achieved in the IMETA region in 2022. We made steady progress in boosting access to research-driven breakthrough therapies that improve the lives of patients and the communities in which we operate. Alongside our life-long commitment to innovation, we will continue to create value and drive growth through investing in areas of unmet medical needs and improve human and animal health across the region.”
Significant growth in Human Pharma - Empagliflozin and Nintedanib drive sales growth
The Human Pharma business achieved currency-adjusted net sales growth of 13.6 percent to 18.5 billion EUR, driven by Empagliflozin and Nintedanib.
Empagliflozin, 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.
Nintedanib was the company’s second-strongest revenue contributor. Nintedanib is a medicine for the treatment of patients with idiopathic pulmonary fibrosis as well as certain fibrosing interstitial lung diseases. Nintedanib 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