Boehringer says it did well in 2020, despite impact of COVID-19

2020 was a good year for Boehringer Ingelheim, although the effects of the COVID-19 pandemic were omnipresent, said the German family-owned pharma major. All of its businesses contributed positively to net sales and operating income.

Boehringer recorded net sales of 19.57 billion euros ($23.23 billion), a 3% increase compared to the previous year. Foreign currency headwinds had a considerable impact; adjusted for currency effects, net sales rose by 5.6% year on year.

Operating income at group level rose 22.2% to 4.62 billion euros. One-time gains from divestitures supported the operating income. Income after taxes saw a 12.5% year-on-year increase to 3.06 billion euros (2019: 2.72 billion euros).