Generic competition hits Boehringer sales
pharmafile | August 9, 2010 | News story | Sales and Marketing | 2010 financials, Boehringer, Q2
Boehringer Ingelheim’s sales fell 5% in the first half of 2010, depressed by generic competition and then further dragged down by local currency fluctuations.
The company had already flagged up the problems, and has been spending heavily on new medicines to plug the gaps left by its various expiring patents.
“Against a background of patent expiries, preparations for the launches of new medicines and regulatory changes to the market, the growth rates of the previous year cannot be achieved,” it said in a statement.
Net sales dropped 5.1% in the first six months of the year, with consolidation sales in euros producing a fall of 2.8%, down to 6.2 billion euros (as against 6.4 billion euros the previous year).
Prescription medicines sales were 4.8 billion euros, 262 million euros less than for the first six months of 2009.
Loss of patent protection on prostate treatment Flomax and Parkinson’s disease brand Sifrol was among the main factors to hit the manufacturer’s bottom line.
Generic competition in the US for blood pressure lowering medicine Catapresan and the end of a co-operation agreement with Lilly for Cymbalta/Xeristar also made an impact.
“With new medicines and a still well-filled substance pipeline, Boehringer Ingelheim will, nevertheless, move into a new growth phase,” the company insisted. “For 2011, a high single-digit growth rate is already expected.”
Twynysta, an oral combination treatment for high blood pressure, received a positive recommendation from European authorities last month, while market launches for potential type II diabetes medicine linagliptin are on the cards for next year.
The company says it also has made “very promising progress” in phase II and phase III clinical programmes, underlining its 20% growth in R&D investment.
And its novel oral direct thrombin inhibitor Pradaxa is being registered in the US and Europe for stroke prevention in atrial fibrillation.
Consumer health sales dropped 4.2% to 605 million euros.
Adam Hill
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