07.12.06
#13 Boehringer-Ingelheim
Binger Srasse 173
55216 Ingelheim
Germany
Tel: (49) 6132 77 0
Fax: (49) 6132 77 3000
www.boehringer-ingelheim.com
Headcount | 37,406 | |
Year Established | 1817 | |
Pharma Revenues | $9,025 | +17% |
Total Revenues | $11,875 | +17% |
Net Income | $1,886 | +67% |
R&D Budget | $1,694 | +11% |
Drugs Approved/Launched | |
Drug | Indication |
sifrol/mirapexin | restless legs syndrome (EU) |
aptivus | HIV (EU) |
tamsulosin | lower urinary tract symptoms due to benign prostatic hyperplasia |
cymbalta/xeristar | depression |
Drugs in Phase IIB and Beyond | |
Drug | Indication |
metalyse | thrombolytic therapy in cardiac arrest, acute myocardial infarctions |
Early Research Projects | |
Drug | Indication |
abgn-168 | autoimmune disease |
micardis | metabolic disease |
“Our product pipeline includes a number of promising substances in major indication areas such as respiratory, cardiovascular and inflammatory diseases, virology, urology and CNS. In addition, good progress was made with development candidates in oncology, metabolism and immunology [. . .]
In 2005, BI expanded its New Biological Entity discovery program to include some 10 discovery projects. In-licensing NBE candidates is an important complement to own research.”
Drugs Coming Off Patent | |
Drug | Indication |
mobic | rheumatoid arthritis (U.S.) |
Top Selling Drugs | |||
Drug | Indication | Sales | (+/- %) |
spiriva | COPD | $1,184 | 81% |
mobic | rheumatic disease | $1,056 | 26% |
micardis | hypertension | $902 | 28% |
flomax | prostate | $898 | -2% |
combivent | respiratory | $699 | 10% |
sifrol/mirapex | Parkinson’s disease | $540 | 54% |
viramune | HIV/AIDS | $359 | 2% |
atrovent | respiratory | $309 | 1% |
Account for 66% of total pharma sales, up from 62% in 2004.
PROFILE
Boehringer-Ingelheim is alive and well, and plans to remain independent. As the largest private pharmaceutical group in the world, it’s also the fastest growing, outpacing the average market growth by 6%. Despite pharma politics in Germany, the company has maintained growth in the last couple of years. Strong U.S. performance has also helped, with sales of $4.7 billion, up 33% in 2005. Also, demand for its products like Spiriva for COPD and painkiller Mobic, keep this German company at the head of its class.
In 2005, the two drugs achieved blockbuster status. Spiriva sales jumped 81% to $1.2 billion and Mobic sales grew 26% to $1.1 billion. However, generic versions of Mobic are expected to hit the U.S. market this year, and declining sales will be evident the second half. Despite patent expiration on this key drug, there is potential in BI’s portfolio, with future growth drivers expected to include Micardis for high blood pressure, which saw sales of $902 million in 2005, up 27%, and Parkinson’s disease drug Sifrol/Mirapex, which soared 52% to $540 million.
The company spends almost one-fifth of its pharma sales on R&D and it seems to be paying off. The FDA approved new anti-HIV drug Aptivus for use in combination therapy with Ritonavir. The company also launched a new prolonged release tablet formulation of Tamsulosin, its well established treatment for Lower Urinary Tract Symptoms due to benign prostatic hyperplasia. In the EU, Cymbalta/Xeristar has been granted marketing authorization for the treatment of major depressive episodes and Sifrol/Mirapexin has been approved for restless legs syndrome.
As for being “penalized” for its independence, Boehringer’s 2005 profit was up 67% to $1.9 billion, despite Germany’s high taxes for family-owned companies. With respect to the recent acquisitions of medium-sized local companies such as Altana and Merck KGaA, the firm’s chief executive, Alessandro Banchi, said BI feels under no pressure to join the rush to consolidate. “We exclude big acquisitions by definition. The goal is pipeline, pipeline, pipeline, not growth by acquisition.” And with revenues climbing as they are, it doesn’t need to.
As a privately-held firm, BI has more freedom to pursue its long-term strategy, making up lost ground by developing new products on its own and acquiring research products through licensing deals.
-KB
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