First half of 2023: Boehringer Ingelheim sees strong growth and expansion in key therapy areas
Areas of progress include rare skin diseases, cardio-renal-metabolic diseases, and immuno-oncology
Jardiance® and NexGard® portfolios drive strong growth
First half 2023 net sales up 9.7 percent at 12.2 billion EUR year on year and currency-adjusted
Currency-adjusted net sales rose by 9.7 percent to 12.2 billion EUR driven by high demand for medications during the first six months of 2023, driven by strong momentum in Jardiance® for Human Pharma and NexGard® for Animal Health.
“True innovation addressing high unmet patients’ needs has enabled us to reach ever more patients in the first half of this year,” said Hubertus von Baumbach, Chairman of the Board of Managing Directors. “Persistent and above-average investments in our pipeline during the last years have resulted in many new treatment options for patients in the years to come, thus transforming lives for generations.”
Boehringer Ingelheim continued expanding its pipeline portfolio through in-house as well as external innovation - 15 new innovation partnerships were formed in areas such as cancer immunology, fibrotic lung diseases and retinal diseases. Overall, the company has committed to invest 25 billion EUR in Research & Development and an additional 7 billion EUR for new production technologies over the next five years.
Net sales in Human Pharma were up 11.3 percent (currency-adjusted) at 9.6 billion EUR in the first half of the year, mainly driven by the Jardiance® family at 3.5 billion EUR and the respiratory medicine OFEV® at 1.7 billion EUR.
Jardiance® experienced strong momentum in the first six months of 2023. It is expected to grow following additional regulatory action for treatment of chronic kidney disease. Worldwide 850 million people live with this disease. With the addition to existing indications in type 2 diabetes and heart failure, Jardiance® will potentially be able to help manage cardio-renal-metabolic conditions. Over 1 billion people live with cardio-renal-metabolic conditions globally.
In oncology, the company’s MDM2-p53 agonist brigimadlin has advanced into the pivotal trial for the treatment of dedifferentiated liposarcoma, a rare cancer with limited treatment options so far. The clinical development of two additional investigational therapies (zongertinib, also known as BI 1810631, and BI 764532) from the oncology pipeline has been accelerated based upon positive early clinical data.
The PDE4b agonist BI 1015550 is now in two clinical Phase III trials for the treatment of Idiopathic Pulmonary Fibrosis (IPF) and Progressive Pulmonary Fibrosis. Patient recruitment for trial investigating BI 10105550 in IPF is well ahead of plan.
“We have become very successful in bringing new products through our pipeline addressing patients’ needs faster,” said Michael Schmelmer, Member of the Board of Managing Directors, responsible for Finance & Group Functions. “We expect to further increase our R&D spending as clinical trials progress into late-stage phases.”
Animal Health recorded growth in Pets and Livestock, with sales increasing by 3.8 percent (currency-adjusted) to 2.5 billion EUR in the first six months of the year. Net sales of NexGard®, a flea and tick prevention for dogs and cats, increased 9.2 percent (currency-adjusted) to 644 million EUR, while Ingelvac Circoflex®, a vaccine used to protect pigs against porcine circovirus type 2, rose 8.7 percent to 127 million EUR.
In addition, the company complemented its market-leading NexGard® portfolio through FDA approvals for NexGard® PLUS, a new monthly combination product for dogs that protects against fleas, ticks, heartworm disease, roundworms and hookworms, and NexGard® COMBO, the first-and-only feline broad-spectrum parasite protection that treats tapeworms.
The Animal Health business has made further progress in the pipeline development in infectious and non-infectious diseases for Pets and Livestock and is preparing for the launch of a highly innovative oral product for diabetes in cats.
For the remainder of the year Boehringer Ingelheim expects more progress in its innovation efforts, such as data readout for a Phase III trial with empagliflozin in patients after myocardial infarction and upcoming regulatory action for OFEV® in children and adolescents between 6-17 years with interstitial lung disease.
Looking forward, the company aims to achieve more than 30 new medical approvals in Human Pharma by 2029 and expects around 20 product launches in Animal Health through 2025.
Click here for the full release: Boehringer Ingelheim half-year results 2023 | Boehringer Ingelheim (boehringer-ingelheim.com)
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