Boehringer Ingelheim 1st-half 2010 results hit by currencies and patent expiries

Independent German drug major Boehringer Ingelheim revealed yesterday that, 'as expected,' first-half 2010 net sales had declined in local currency terms (-5.1%) Consolidation in euros produced a fall of 2.8%, due to more favorable currency effects, with total net sales of 6.21 billion ($8.09 billion) compared to 6.39 billion in the first half of the previous year.

In the main, lower net sales are attributed to the known patent expiries on medicines in the USA, as well as the ending of cooperation agreements, which Boehringer Ingelheim already announced in the past year.

However, with new medicines and a still well-filled R&D pipeline, Boehringer Ingelheim says it will move into a new phase, expecting a high single-digit growth rate in 2011.