Boehringer now largest German pharma company, 2023 financials show

16 April 2024

German family-owned drugmaker Boehringer Ingelheim today announced a strong acceleration of its pipeline in 2023, as pivotal trials in key research areas progressed as planned, along with its full-year 2023 financial results.

The company reported that group net sales rose by 9.7% to 25.6 billion euros ($27.2 billion) in 2023, driven by 10.3% growth in Human Pharma and 6.9% growth in Animal Health. Both businesses outperformed their markets.

With human pharma sales reaching 20.8 billion euros, Boehringer has overtaken German rival Bayer (BAYN: DE), which recently reported that its pharma sales for 2023 had slipped to 18.1 billion euros.

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