Amid R&D spending up-tick, Boehringer aims for 25 new drug launches
16 Apr 2024
Financial StatementPhase 3Phase 1Phase 2Biosimilar
Boehringer Ingelheim is targeting 25 new drug launches through 2030 as it continues to increase spending on R&D, including the start of 10 mid- and late-stage studies over the next 12 to 18 months. “We are determined to accelerate the development of our range of new treatments,” chairman Hubertus von Baumbach said Tuesday alongside the company’s 2023 financial results.
The drugmaker highlighted its oral MDM2-p53 antagonist brigimadlin, also known as BI 907828, which last year advanced into the Phase III Brightline-1 study as a first-line treatment for dedifferentiated liposarcoma. Boehringer Ingelheim also noted that development of the HER2 tyrosine kinase inhibitor zongertinib, also known as BI 1810631, was accelerated with the start of a Phase I trial in non-small-cell lung cancer.
Meanwhile, the company moved the investigational glucagon/GLP-1 receptor dual agonist survodutide into Phase III studies last August for people living with overweight or obesity. More recently, the drug, which is partnered with Zealand Pharma, demonstrated best-in-class potential in for metabolic dysfunction-associated steatohepatitis (MASH).
Jardiance, Ofev drive sales
Last year, Boehringer Ingelheim spent €5.2 billion ($5.5 billion) on prescription drug research, or 25.1% of sales, up from €4.6 billion in 2022, or 23.5% of revenue. “Our 2023 investments rank us among the top R&D investors in the industry,” noted Michael Schmelmer, board member responsible for finance, adding “we are committed to upholding these…levels.”
Boehringer Ingelheim reported that drug sales rose 10.3% in 2023 to €20.8 billion, while overall revenue was up 6% at €25.6 billion. Sales of Jardiance - which is partnered with Eli Lilly - jumped 31% to €7.4 billion, with revenue from Ofev increasing 12.8% to €3.5 billion.
For 2024, Boehringer Ingelheim expects a slight year-on-year increase in revenues on a comparable basis.
(€1 = $1.06250)
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