German drugmaker Boehringer Ingelheim plans to spend 25 billion euros on research and development of new products over the next five years. Another €7 billion has been earmarked for investment in new production technologies, the company announced Wednesday when presenting its semi-annual figures. The company also plans to invest in Austria.
Boehringer Ingelheim is building a new research building in Vienna that will provide additional space for cancer research. The investment is about 60 million euros and is scheduled to be completed in 2024, the company recently announced.
Animal health business affected
In the Human Pharma division, the company increased its sales in the first six months by 11.8% at a currency-adjusted annual rate compared to €8.4 billion. Medicines to treat cardiovascular and metabolic diseases as well as respiratory diseases were named as sales drivers. The animal health division grew 1.2% to €2.4 billion.
The animal health business has been affected by inflation and supply chain restrictions, among others. “Although we continue to anticipate economic uncertainties in the second half of the year, we are confident that we can achieve our goals for 2022,” said Chief Financial Officer Michael Schmelmer.
Sylvia Plath writes for Social Post News, covering news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on clear, reliable reporting and useful information, helping readers stay informed about current events, emerging trends, and stories that matter.
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