Boehringer sales fall, but long-term prospects look good
- Boehringer Ingelheim's (BI) net sales for the first half of the year were around $8.67 billion, down 3% compared with last year. Prescription sales were down 5.4% to $6.39 billion.
- Revenues were dampened by the impact of BI's Pradaxa (dabigatran) settlement -- which cost the company $650 million -- the impact of US healthcare reform, and expenses related to finalizing the sale of Bedford Labs in the US.
- During the same period, BI received FDA approvals for Striverdi (olodaterol) for treatment of chronic obstructive pulmonary disease (COPD) and Jardiance (empagliflozin) for treatment of type 2 diabetes.
On balance, it has not been the best six-month period for BI, but nor was it the worst. It was a time of transition -- an opportunity to settle the Pradaxa suits and deal with other external factors.
On the bright side: Not only did BI gain approvals for Jardiance and Striverdi, but the launch of its lung cancer treatment Giotrif (afatinib) is also on track. In addition, there are more than 10 new drugs in BI's pipeline that will be ready to launch within the next two years, including three medications that have been granted Breakthrough Therapy designation by the FDA.
- Boehringer Ingelheim First half year 2014: Boehringer Ingelheim meets challenges