Annual Report 2006 - Boehringer Ingelheim

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Members of the Board of Managing Directors: Dr Hans-Jürgen Leuchs Dr Andreas Barner Dr Alessandro Banchi Prof. Marbod Muff (from left to right) The Prescription Medicines business area, which grew by 15 % to EUR 8.3 billion (compared to 2005) made the greatest contribution to sales growth. The most important products driving this growth included our leading product spiriva®, with sales up 45 % to EUR 1.4 billion, micardis® which grew by 34 % to EUR 967 million, and flomax®/alna®, for benign prostatic hyperplasia, which grew by 28 % to EUR 922 million. In US dollar terms, micardis® and flomax® thus represent two more Boehringer Ingelheim blockbusters alongside spiriva®. In 2006, we were granted marketing authorisation for sifrol® in the indication restless legs syndrome (RLS), both in Europe and the USA. Important and innovative clinical studies (phase I-IV) continued successfully, involving about 90,000 patients worldwide. These included the ontarget study (micardis®), uplift® (spiriva®) and profess® (aggrenox®/ micardis®). Well-filled pipeline Our product pipeline has further improved and is being progressively filled with substances from our research. We focus on respiratory and cardiovascular diseases, virology, central nervous system, immunology, metabolic diseases and oncology. In this last therapeutic area, for example, three anti-cancer drug candidates are now in clinical phase II development. Our projects are complemented by strategic alliances and the in-licensing of new compounds and technologies. Our late-stage pipeline also progressed well in phase III, and we were able to file the first indications of our lead anti-thrombotic compound dabigatran for registration in Europe at the beginning of 2007. Investments in research and development in our prescription medicines increased again in 2006, up by 16 % to about EUR 1.5 billion; this corresponds to around 18 % of sales in this business area. Overall, our Consumer Health Care (CHC) business showed good development, in spite of an increase in sales of only 1 % to EUR 1.1 billion. Key Aspects of 2006
This growth was clearly restrained by the weakness of the Japanese market, where we generate almost 30 % of our CHC business. Excluding Japan, we achieved strong growth of about 9 %. Our international core brands, in particular dulcolax®, pharmaton® and buscopan®, showed wholly positive development. As an outstanding complement to our gastrointestinal disease business, we successfully acquired zantac® (for heartburn) for the important US market. Our CHC business accounted for about 10 % of our total net sales. Our Biopharmaceuticals business segment, which embraces contract manufacture and development for our international customers, declined by 8 % to EUR 503 million. This development was expected, despite plant running at full capacity, as the 2005 business year benefited from extraordinary effects caused by special projects that helped boost sales by 40 %. Boehringer Ingelheim is not only strategically committed to the Human Pharmaceuticals business but also to Animal Health. Here, sales in 2006 rose by 4 % to about EUR 374 million, giving growth above the market average. Adjusted for extraordinary and currency effects the Animal Health business grew by 8 %. According to the market research institute Wood Mac- Kenzie, Boehringer Ingelheim, with a market share of about 3 %, ranks 10th in the international ranking of animal health companies. The most important products in this business area include the anti-inflammatory product metacam®, vetmedin®, a product for treating Boehringer Ingelheim A n n u A l R e p o R t 2 0 0 6 chronic heart disease in dogs, as well as the pig vaccines enterisol® ileitis (against diarrhoea) and ingelvac® prrs (against porcine reproduc- tive and respiratory syndrome). The outlook remains good The picture seen in recent years has not changed. Boehringer Ingelheim’s growth in 2006 was excellent across all regions of the world. The Americas region grew very well in spite of the sales decrease of mobic® due to generic competition in the USA, with sales rising by 18 % to EUR 5.4 billion. But not only the USA (+20 % to 4.5 billion) performed well. Other countries, in particular Mexico, with its vigorous 27 % growth (to EUR 300 million), put in an excellent performance, too. Europe showed a rather gratifying development, growing by 6 % to EUR 3.3 billion. France (+19 % to EUR 263 million), the Regional Center Vienna with its expanding East European business (+13 % to EUR 362 million) and Spain (+10 % to EUR 349 million) developed very well. That Germany, on the other hand, stagnated in 2006 (+1 % to EUR 822 million) was a result of the expiry of our patent on alna® on top of the very difficult pharmapolitical impacts. In the Asia, Australasia, Africa (AAA) region, Japan is showing encouraging signs of growth (currency adjusted +6 % to EUR 1.2 billion). In Japan, we were for the second year in a row the fastest growing company among the top 25 in prescription medicines; we would like to pay a special tribute to our Japanese employees. Gratifying growth and effective cost management led to increased operating income for the company, as reflected in our results. Operating income rose by 11 % to over EUR 2.1 billion. This corresponds to a return on sales of 20.2 %.
Page 1 and 2: Value through Innovation Annual Rep
Page 3 and 4: Contents 1 Value Through Innovation
Page 5 and 6: The Shareholders’ Perspective Dea
Page 7: Key Aspects of 2006 2006 was again
Page 11 and 12: Shareholders’ Committee Dr Heribe
Page 13 and 14: “There is help” “The woman wh
Page 15 and 16: 1 continued from page 10 A Kenyan m
Page 17 and 18: 1 Our people In pursuing our vision
Page 19 and 20: Company childcare enters new territ
Page 21 and 22: 1 Caring for our neighbours We are
Page 23 and 24: 0 Children from St Margaret Clither
Page 25 and 26: Our environment & employee safety A
Page 27 and 28: thanks to the use of the wood-fired
Page 29 and 30: Our goals We shall continue to inve
Page 31 and 32: Targeting tomorrow’s therapies Th
Page 33 and 34: 0 continued from page 28 “Boehrin
Page 35 and 36: Our R & D strategy Research and dev
Page 37 and 38: Ridgefield, USA Cardiovascular, imm
Page 39 and 40: Vienna, Austria Oncology Boehringer
Page 41 and 42: Our expertise in landmark studies L
Page 43 and 44: From mind to man - the R & D proces
Page 45 and 46: New biological entities (NBE) One o
Page 47 and 48: The development of our businesses W
Page 49: Rin Fujima, Kyoto, Japan, suffers f
Page 52 and 53: Human Pharmaceuticals Branded presc
Page 54 and 55: cal exercise capacity and the reduc
Page 56 and 57: “Like a great round of golf“
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gives patients a better chance of g
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aptivus® was launched in the USA i
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enzymes, such as the HCV serine pro
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Børge Madsen, Copenhagen, Denmark.
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Cardiovascular diseases Despite sig
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actilyse® is the first and only th
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fibrillation in some 40 countries i
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Treatment modalities used to reliev
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HuCAL antibody directed against a c
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hand, the end of exclusivity in Eur
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Generic Prescription Medicines The
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Ben Venue - a world leader in steri
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Mara Lovera, Buenos Aires, Argentin
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Consumer Health Care Our Consumer H
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Switching reinforces the trend towa
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Alexander (left) and Christopher pl
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Animal Health The sound progress of
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located, trained and placed with fi
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Our Customer Orientation Our custom
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On a biopharmaceutical compound’s
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Pharmaceuticals Production Our Phar
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Counterfeits - a real threat for pa
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Group Management Report 2006
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companies lost their patent protect
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To summarise, we see the success of
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Production Production sites belongi
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In the area of HIV/AIDS therapy, we
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only 2 %. The region’s overall ne
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of the cash flow, which rose by EUR
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Report on expected developments The
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Consolidated Financial Statements 2
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C. H. Boehringer Sohn Grundstücksv
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C. H. Boehringer Sohn, Ingelheim Co
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C. H. Boehringer Sohn, Ingelheim St
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The following subsidiaries were exe
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2 Accounting and evaluation methods
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3 Notes to the consolidated balance
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3.3 Financial assets (in millions o
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Pension provisions Boehringer Ingel
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4 Notes to the consolidated profit
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4.7 Holding income (in millions of
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Other mandatory disclosures accordi
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Derivative financial instruments at
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With the following exception, our a
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Product name Active ingredient Indi
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Comparison of Balance Sheets/ Finan
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Annual Report 2006 - Boehringer Ingelheim

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