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Boehringer Ingelheim becomes the largest German pharmaceutical company
Boehringer Ingelheim displaces Bayer as the largest German pharmaceutical giant - increasing sales knocks Bayer off its throne. Learn more! #BoehringerIngelheim #BayerAktie #Pharmaceutical Industry #Germany
Boehringer Ingelheim becomes the largest German pharmaceutical company
Last year, Boehringer Ingelheim recorded a significant increase, displacing Bayer as the largest German pharmaceutical company. Sales of the family group based in Ingelheim am Rhein rose by six percent to 25.6 billion euros in 2023, with an increase of almost ten percent on a currency basis. In the human medicine business, sales amounted to almost 20.8 billion euros, compared to 18.46 billion in the previous year. Boehringer thus outperformed Bayer, whose pharmaceutical business recorded a six percent decline in sales to 18.08 billion euros last year.
A significant contribution to Boehringer Ingelheim's sales growth came from the company's two top drugs, the diabetes drug Jardiance and the lung drug Ofev. In addition, biopharmaceutical contract production was integrated into the pharmaceutical division last year, contributing around one billion euros to sales. Even without this contribution, Boehringer is now the largest German pharmaceutical company in terms of sales. For 2024, Boehringer's sales are expected to increase slightly, adjusted for currency effects.
Although Bayer recorded significant growth in new drugs such as the cancer drug Nubeqa and the kidney drug Kerendia last year, the group did not grow in many parts of its pharmaceutical business. Bayer suffered losses in particular with its highest-selling drug to date, Xarelto, whose patents expire in the middle of the decade. In addition to negative exchange rate effects and weaker business in China, Bayer came under pressure.
In the animal health business, Boehringer generated more than 18 percent of its sales last year and recorded growth of 3.6 percent to over 4.7 billion euros, mainly due to successful business with the flea and tick treatment Nexgard. The group is targeting 20 additional market launches in the animal health business by 2026 and plans to introduce 25 new treatments in the human pharmaceutical sector by 2030.