Boehringer Ingelheim satisifed with H1 results

- Last updated on GMT

Related tags: Boehringer ingelheim, Pharmacology

On August 22, the German pharmaceutical company Boehringer
Ingelheim announced that the first six months of 2001 developed as
expected.

On August 22, the German pharmaceutical company Boehringer Ingelheim announced that the first six months of 2001 developed as expected. Sales rose by 7.7 per cent to Euro3.1bn. Operating income increased 17.4 per cent to Euro340m. Professor Rolf Krebs, chairman of the Board of Managing Directors, said that he was "on the whole satisfied"​ with the results. Boehringer Ingelheim​ expects a further increase in sales in the second half-year. "We are confident that the Corporation will post double-digit growth at the end of the year,"​ said Prof. Krebs. He described the development of operating income as "particularly pleasing"​ and evidence of the clear progress that has been made in raising the Corporation's productivity. Boehringer Ingelheim investments rose 22 per cent to Euro217m during the first half. "Disproportionately large investments"​ are also being made in research and development, Prof. Krebs noted. The level of R&D expenditure was up 15 per cent to Euro547m compared with the same period last year. The development of the individual business areas varied. Whilst the Prescription Medicines business, which accounts for 80 per cent of sales at Boehringer Ingelheim, grew 10 per cent to Euro2.4bn in the first half of 2001, the Consumer Health Care business failed to meet expectations. The latter fell 5 per cent to Euro300m due to the difficult market situation in the USA and Brazil. Prof. Krebs said that it was necessary to get used to a changed market situation in these countries following years of rapid growth. However, the course has already been set for a turnaround in these markets. "We are looking to the future with optimism."​ The Biopharmaceuticals sector grew 20 per cent to Euro93m in the first half-year. In line with the growing importance of the production of biological medicines using genetic technology, Boehringer Ingelheim is investing in its production facilities at the Biberach site, where capacities will be doubled. The Animal Health business also developed much better than expected, growing 11 per cent to Euro152m.

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