Boehringer's first-half 2008 profit drops 10%

German drug major Boehringer Ingelheim says first-half 2008 operating profit dropped 10% year-on-year to 899.0 million euros ($1.39 billion), despite a 2.1% rise in consolidated sales to 5.52 billion euros.

While the family-owned drugmaker's income was impaired by the strength of the euro against the US dollar and the Japanese yen, the rise in turnover was boosted by strong demand for its key drugs. Profit was also hit by exchange rate effects, as well as higher R&D costs within its innovative drugs sector.

Sales of Spiriva (tiotropium), a leading treatment for chronic obstructive pulmonary disease, jumped 23.8% to 976.0 million euros. Cardiovascular product Micardis (telmisartan), Boehringer's angiotensin receptor blocker for the treatment of essential high blood pressure, achieved net sales of 603.0 million euros, an 11.5% rise, while income from its benign prostatic hyperplasia drug Flomax/Alna (tamsulosin) grew 7.3% to 496.0 million euros.