Germany-based pharmaceutical company Boehringer Ingelheim reported on Wednesday a strong performance in 2022.

The company stated that 2022 was a year in which 30 million patients benefited from its innovative medicines, while deepening investments in the search for new treatments. Research & development investments reached EUR5bn, or 21% of net sales.

Net sales rose by a currency-adjusted 10.5% to EUR24.1bn.

'2022 has shown that our long-term commitment to medical research is the right strategy. For some patient conditions that were until recently deemed difficult to treat, we have now found medical entities that can be true breakthroughs,' said Hubertus von Baumbach, chairman of the board of managing directors. 'The acceleration of our broad pipeline demonstrates our commitment to transform the treatment of cardiovascular-renal diseases, inflammation, and respiratory diseases, as well as mental health, oncology and retinal diseases.'

The company stated that development of the pipeline progressed very well in 2022. Boehringer Ingelheim received one Breakthrough Designation, three Fast Track Designations, and two Orphan Drug Designations from the FDA. In the next seven years the company said that it expects about 20 regulatory approvals in human pharma. Throughout the current year, Boehringer Ingelheim also expects to present additional data from its pipeline.

In 2022 operating income at Group level rose by 1.4% to EUR4.8bn, while income after taxes amounted to EUR3.2bn.

'The strong commercial performance provides a solid base to finance our late-stage pipeline, mid-term growth opportunities, as well as further investments in new technologies. It will enable us to address future unmet patient needs,' said Michael Schmelmer, member of the board of managing directors with responsibility for Finance & Group Functions.

Looking ahead, Boehringer Ingelheim said that it anticipates moderate growth in 2023, on a comparable basis, with a slight increase in its operating income, creating the fundamentals for bringing more innovative medicines to patients and animals.