Germany-based pharmaceutical company Boehringer Ingelheim announced on Tuesday a strong acceleration of its pipeline in 2023, as pivotal trials in key research areas progressed as planned.

Research & Development (R&D) investments increased by 14.2% to EUR5.8 billion. R&D investments were substantial, at 22.5% of net sales. Group net sales rose by 9.7% to EUR 25.6bn in 2023, driven by 10.3% growth in Human Pharma and 6.9% growth in Animal Health. The company says that both businesses outperformed their markets.

In 2023, regulators awarded five additional FDA fast-track designations and one FDA breakthrough therapy designation in the US, as well as one EMA PRIME scheme acceptance in Europe. With a focus on therapeutic research areas in cardiovascular, renal and metabolic diseases (CRM), oncology, respiratory diseases, immunology, mental health, and retinal health, the company says that it is a pioneer in breakthrough treatments in areas of high unmet patient needs.

The company plans to start ten new phase II and III trials in the next 12-18 months, aiming for 25 new treatment launches in Human Pharma until 2030. In Animal Health, 20 additional launches are expected across markets until 2026, including product updates, indication expansion and new products. For 2024, Boehringer Ingelheim expects a slight year-on-year increase in revenues on a comparable basis, adjusted for currency and extraordinary effects.

Hubertus von Baumbach, chairman of the board of managing directors stated: "I am excited to see how balanced and healthy our pipeline looks today."

"We are determined to accelerate the development of our range of new treatments and make them available to patients in the best and fastest ways. In doing so, it is our mission to not only help patients, but also to help make healthcare systems fairer and better."