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Good business performance gives Boehringer Ingelheim tailwind for investment in R&D

· R&D investment up 11.7% to 4.1 billion EUR in 2021 (20.0% of net sales)
· More than 25 billion EUR investment in R&D and 7 billion EUR in capital expenditure over the next five years
· Human Pharma pipeline acceleration: up to 15 new product launches expected until 2025

INGELHEIM, GERMANY – Media OutReach – 6 April 2022 – In 2021, Boehringer Ingelheim again stepped up its annual investments in R&D to a new high in its 137-year history. The company spent 4.1 billion EUR on R&D (2020: 3.7 billion EUR), up 11.7%. R&D investments in Human Pharma rose to 3.7 billion EUR (2020: 3.3 billion EUR), while investments in Animal Health were up 1% to 416 million EUR (2020: 412 million EUR).

“2021 was a good year for patients, for animal owners and for our company. We expanded our contribution to transforming human and animal lives and further strengthened our combined pipeline,” explained Hubertus von Baumbach, Chairman of the Board of Managing Directors. “Accordingly, we also intensified our efforts in Research and Development and achieved significant medical progress, including three breakthrough therapy designations granted by the US FDA for innovative medicines in Human Pharma. In Animal Health, we laid the foundation for the launch of innovative new solutions for companion animals and livestock in 2022 and 2023.

“We present these results at a time when war has been brought back to Europe,” continued von Baumbach. “Our thoughts are with all Ukrainians. The aggression against the country is heartbreaking. We are supporting those seeking refuge and those in need in Ukraine, through short-term and long-term financial support, through product donations and supply of medicines, and many of our employees engage in support initiatives using our volunteering days program. We all hope that this horrific situation will end soon.”

Growth across all businesses

Despite the ongoing COVID-19 challenges, 2021 was a successful year. Boehringer Ingelheim recorded net sales of 20.6 billion EUR (2020: 19.6 billion EUR), a 5.4% increase compared to the previous year. Adjusted for currency effects, net sales rose by 7.5%.

Operating income at Group level rose to 4.7 billion EUR (2020: 4.6 billion EUR). Income after taxes saw an 11.2% year-on-year increase to 3.4 billion EUR (2020: 3.1 billion EUR). Cash flow from operating activities decreased slightly by 117 million EUR to 3.9 billion EUR (2020: 4.0 billion EUR). At the end of 2021, the equity ratio stood at 48% (2020: 47%).

“All our businesses contributed to the solid financial results in 2021, a strong achievement, especially when considering the overall pandemic and economic situation. As a result, we can continue making significant investments and have strengthened our overall financial basis – and thus our independence,” said Michael Schmelmer, Member of the Board of Managing Directors responsible for Finance and Group Functions. “The extraordinary commitment of all our employees in a second pandemic year drove our achievements. Working conditions were often challenging, both for those of us who worked from home on an almost permanent basis and for those who worked under restricted conditions on our sites. In times of need, we all stand up for each other. This makes me feel positive and optimistic and is particularly important for the long-term success of our company.”

Human Pharma – Significant progress in late-stage R&D pipeline

The R&D pipeline in Human Pharma comprises more than 100 clinical and preclinical projects. Based on the progress of the later stage projects, the pipeline has the potential to deliver up to 15 new product launches until 2025. A key focus in research is to gain a deeper understanding of the connections between different diseases. Empagliflozin (JARDIANCE®) is a good example. This medication was initially approved as a type 2 diabetes medication. Investing into the better scientific understanding of the interconnectedness of cardio, renal and metabolic systems has enabled Boehringer Ingelheim to broaden its use from diabetes to heart failure. Empagliflozin is now the only approved treatment for adults with symptomatic chronic heart failure in the European Union. Furthermore, it may also be of benefit in a broad range of chronic kidney diseases, as demonstrated from a positive interim analysis data readout of the EMPA KIDNEY trial. It is also being assessed for the prevention of heart failure following a heart attack (EMPACT-MI trial).

The pace of innovation from the company’s immunology research was further underscored by Spesolimab, an IL-36 specific monoclonal antibody for the treatment of generalized pustular psoriasis (GPP). GPP is a rare and sometimes even life-threatening skin disease with no globally approved treatments. Spesolimab has been granted US FDA Breakthrough Therapy Designation and pivotal data was published in the New England Journal of Medicine. Regulatory submissions for the treatment of GPP flares have been filed in major geographies, with the aim of bringing Spesolimab to eligible patients this year.

Other inflection points for the company’s R&D pipeline this year include lung fibrosis, the central nervous system (CNS) and oncology. A study to evaluate how a PDE4B inhibitor affects lung function on people with idiopathic pulmonary fibrosis (IPF) will be published at a medical conference later this year. In February 2022, the US FDA has granted Breakthrough Therapy Designation to the compound in this indication. In CNS, a Gly-T1 inhibitor was also granted US FDA Breakthrough Therapy Designation for the treatment of Cognitive Impairment Associated with Schizophrenia (CIAS), and a high level data readout is anticipated for later this year. Also in CNS, Boehringer Ingelheim is collaborating on the digital therapeutic CT-155 as an adjunct to pharmacotherapy, which aims to help patients modify their behavior and train new skills. The promising MDM2-p53 antagonist is the most advanced asset in oncology now in a pivotal phase II clinical trial for rare soft tissue sarcoma, an area of significant unmet medical need that lacks novel approved therapies.

Strong growth for Empagliflozin (JARDIANCE®) and Nintedanib (OFEV®)

At 15.3 billion EUR (2020: 14.4 billion EUR), net sales of human pharmaceuticals grew by 8.4%* and accounted for 74% of total net sales. The United States remains the largest market for Boehringer Ingelheim. The company generated net sales of 5.8 billion EUR (2020: 5.7 billion EUR) in the US, up 5.9%*. In the EUCAN region (Europe, Canada, Australia, and New Zealand, net sales excluding licensing income) rose by 4.1%* to 4.4 billion EUR (2020: 4.2 billion EUR). In Emerging Markets, including the People’s Republic of China, the company registered net sales of 3.0 billion EUR (2020: 2.8 billion EUR), a 5.9%* increase. In Japan, net sales increased by 7.1%* to 1.3 billion EUR (2020: 1.3 billion EUR).

Medicines for the treatment of cardiovascular and metabolic, as well as respiratory diseases, remain the most important contributors to net sales. Empagliflozin (JARDIANCE®) remains the biggest revenue contributor in Human Pharma, generating net sales of 3.9 billion EUR (2020: 3.1 billion EUR) and growth of 28.6%*. Nintedanib (OFEV®) was the company’s second-strongest revenue contributor with net sales of 2.5 billion EUR (2020: 2.1 billion EUR) and growth of 25.4%*.

Animal Health – Higher net sales in a very competitive market

The Animal Health business of Boehringer Ingelheim is a globally leading provider of vaccines, therapeutics and preventative care offerings that protect animals from disease and pain. In 2021, the Animal Health business significantly increased its net sales in a highly competitive market and grew by 6.2%*, with net sales of 4.3 billion EUR (2020: 4.1 billion EUR).

In terms of sales, the companion animals’ portfolio remains by far the largest segment of Boehringer Ingelheim Animal Health, including the best-selling product NEXGARD®, a parasiticide for dogs, with growth of 16.6%* and net sales of 916 million EUR (2020: 804 million EUR). The antiparasitic FRONTLINE® for dogs and cats is another major product, with net sales up 4.8%* at 418 million EUR (2020: 406 million EUR). Growth in this segment was also fueled by more people acquiring a new pet during the COVID-19 pandemic.

The livestock segment grew only moderately due to the ongoing COVID-19 pandemic and African swine fever, especially in Asia and Europe. Whereas the overall swine segment expanded by 3%, the swine vaccine INGELVAC CIRCOFLEX® saw a decline in sales of -2.7%* to 253 million EUR (2020: 264 million EUR).

Biopharmaceutical production – One of the leading providers in the industry

Boehringer Ingelheim is one of the leading manufacturers of biopharmaceuticals, both for its own portfolio and for partners in the industry. 60% of the top 20 pharmaceutical companies and innovative biotech firms are clients of Boehringer Ingelheim’s Biopharmaceutical Contract Manufacturing business, known under the brand name Boehringer Ingelheim BioXcellenceTM. The biopharmaceuticals business achieved net sales of 917 million EUR in 2021 (2020: 837 million EUR), up 9.5%* due to strong demand for our customers’ products.

Investments in tangible fixed assets remain at a high level

In 2021, the company invested 968 million EUR (2020: 1.05 billion EUR) in tangible fixed assets, including the large-scale production facility for biopharmaceutical products (LSCC) in Vienna, Austria, which was inaugurated in October 2021, and the new development center for biopharmaceutical medicines (BDC) in Biberach, Germany. Restricted construction activities due to the COVID-19 pandemic had an impact on the investment sum.

Outlook for 2022: Boehringer Ingelheim expects a slight year-on-year increase in net sales on a comparable basis

The ongoing COVID-19 pandemic, the geopolitical tensions in Europe and a challenging industry environment are expected to have an impact on the results of Boehringer Ingelheim. For 2022, the company expects to achieve a slight year-on-year increase in net sales on a comparable basis. For the next five years, plans are to invest over 25 billion EUR in its research pipeline. In addition, capital expenditures for novel production technologies and a cutting-edge supply network are planned, with well over 7 billion EUR of investments targeted for the next five years. This includes further expansion of our biopharmaceutical production capacities.

*year on year and adjusted for currency effects

2021 Annual Report at https://annualreport.boehringer-ingelheim.com/

Boehringer Ingelheim

Boehringer Ingelheim is working on breakthrough therapies that transform lives, today and for generations to come. As a leading research-driven biopharmaceutical company, the company creates value through innovation in areas of high unmet medical need. Founded in 1885 and family-owned ever since, Boehringer Ingelheim takes a long-term perspective. More than 52,000 employees serve over 130 markets in the three business areas, Human Pharma, Animal Health, and Biopharmaceutical Contract Manufacturing. Learn more at www.boehringer-ingelheim.com.

Addendum:

Statement from Dr. Armin Wiesler, Regional Country Managing Director & Head of Animal Health, Boehringer Ingelheim Regional Operating Unit, ASEAN, Korea, Australia & New Zealand (ROPU ASKAN)

Introducing ROPU ASKAN

“Starting January 1, 2022, we are pleased to welcome Australia and New Zealand, into our overall regional scope of business operations. Our region name is now called ASKAN – ASEAN, Korea, Australia & New Zealand. Together, we form a strong regional team that is committed to providing crucial medicines to patients and animals. We also recognize the opportunity for talent development for our people within this new region. Our recent recognition as a Global Top Employer is testament to our commitment for employee engagement and growth.”

Our Performance & Growth in ASKAN

“The year 2021 was a successful year for us, despite the current COVID-19 pandemic and the challenges it has posed to our patients, partners, customers and our people. Our teams across the region came together as one team to really focus on delivering medicines to the people and animals that need it the most.”

“In 2021, we continue to retain our leading position as an Animal Health business across ASKAN. This is led by our Pets Business and our parasiticides products, with strong performances in also our swine, poultry and ruminant businesses.”

“In our Human Pharma business, we are leading in the SGLT2 category in the diabetes business, and we are the No.1 company in the non-insulin market overall. Globally we also recently announced the early stop of our Phase III EMPA-KIDNEY trial due to clear positive efficacy in people with chronic kidney disease. This is encouraging and exciting news for our patients and health care professionals, and we are hopeful that this will lead to further access to crucial medicines for our communities in this region.”

“Globally we also launched Sustainable Development for Generations – a global commitment to sustainability goals that are focused on meeting areas of unmet medical needs, engaging communities and society, and improving lives for humans and animals. In ASKAN starting in 2022, we will be kicking off our regional and local activities to work with like-minded partners, governments and NGOs to focus on our sustainability goals focused on eliminating rabies (in dogs/cats), ensuring access to medicines (such as stroke care, through our Angels program), reducing plastic waste and saving energy in our offices, and working/donating to our local communities where our business operates in.”

Production Date: April 2022
Item Code: MPR-PH-100303

The issuer is solely responsible for the content of this announcement.

Telos Hires World’s First NFT Curator In Crypto

The Big Gooey has been hired to support the NFT art world and build a truly vibrant Telosian Collection.

NEW YORK, US – News Direct – 5 April 2022 – To further the ambitions of growing Telos into the go to Layer 1 for NFT’s, Telos has hired the world’s first NFT curator in crypto, The Big Gooey (or TBG). TBG will lead efforts by supporting the art world and building a truly vibrant Telosian Collection on an NFT ecosystem that is powered by Byt and the tEVM. This next level NFT ecosystem is going to enhance the end user experience with ludicrous speeds, inexpensive fixed gas fees, zero congestion and absolutely no front running. NFT enthusiasts are destined to appreciate the enhanced user experience that is being powered by the world’s fastest EVM (tEVM).

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NFT Ecosystem Synergy

  • TBG – World’s first NFT curator
  • Byt – World’s most successful NFT dApp
  • tEVM – World’s fastest (instant transactions), most inexpensive (fixed nano sized gas fees), congestion-less, truly decentralized, no front running, and most energy efficient EVM

The Big Gooey hails from the rain-soaked West Coast of Canada. Gooey has been working as a full-time artist in the crypto space. His art has appeared on multiple blockchains from Fast Food Frens (ETH) to Zillaz (SOL). His pixel art style is inspired by the super Nintendo golden era of games and early arcade classics.

TBG was one of the artists who brought NFTs to Telos, he’s woven himself into the fabric of the Telos ecosystem, and he builds a community wherever he goes. TBG won an adoring audience with Doug’s Donuts, and the upcoming TelosPunks is set to change the rules of what an NFT can be.

“I personally believe that nothing monumental can ever take shape without passion for the subject. In this case that subject is an NFT ecosystem and the passion for this subject is not only prevalent with TBG, but also absolutely contagious.”

Justin Giudici, Acting CEO at Telos Foundation

Telos is making a strategic push into the booming NFT market. TBG will help lead the community end of the new Telos and Byt partnership. The partnership is also planning a major competition to bring NFT creation to the masses. Telos plans on integrating NFTs as an integral component of the developer and application community. TBG will work with artists and creators to make Telos NFTs their first-choice media.

“There are bright things ahead,” said TBG, “I’m several collections this year. I’m committed to the idea that Telos’ ethos of equal and fair access to finance is the future of how working-class people can better generate wealth.”

The Big Gooey, NFT Curator

About Telos

(ticker: Tlos) is a third-generation smart contract platform that offers compatibility with Solidity, Vyper and Native C++ smart contracts. Telos provides full EVM/Solidity support with fixed low-cost gas fees and no front running. Uniquely, Telos also offers a path to fee-less transactions via its robust native C++ smart contract support (also w/ no front running). The chain can sustainably support hundreds of millions of transactions per day, it produces blocks in 0.5 second intervals on a first-in-first-out basis (eliminating front running on the network) and the network is securely validated by an equitably sized and globally decentralized block producer network. The Telos Blockchain has the throughput needed to facilitate and scale the thriving Metaverse / Web 3.0 better than any other blockchain. Its performance is unrivaled in the industry and was purpose-built to offer speed, scalability, cost-effectiveness, true decentralization, and end-user fairness. Harnessing its power from utilizing tight C++ on the frontend and a custom WASM runtime environment on the backend, Telos, is exactly what Elon Musk recently described to be the best: Read Tweet

About The Foundation

The Telos Foundation is a Decentralized Autonomous Organization established as a promotional and funding body to advance the Telos Blockchain Network and provide support to network applications.

#Telos

Laos Confirms 2,272 New Cases of Covid-19

Covid-19 Update for Laos
Covid-19 Update for Laos

Laos has recorded 2,272 cases of Covid-19 across the country today.

Laos to Approve More Than 300 New Mining Projects

A mining operation in Laos (Investment Promotion Department)
A mining operation in Laos (Photo: Investlaos.gov.la)

Laos is considering the approval of 308 new mining investment projects across the country. 

Refinitiv Announces Winners of 2022 Thailand FX Awards

BANGKOK, THAILAND – Media OutReach – 5 April 2022 – Refinitiv, an LSEG business, has announced the winners of its FX Trading Awards 2022 for Thailand’s trading community.

The FX Awards aim to promote transparency and liquidity in the Thailand foreign exchange market and to recognize its importance to the broader local economy. Award winners were determined based on trading activity on Refinitiv’s FX trading platforms.

Refinitiv was appointed as the Official Calculating Agent for the Bank of Thailand’s transactions-based Thai Baht benchmark in 2019 to enhance Thailand’s FX and implied interest rate benchmarks, and better reflect the growth and evolving nature of Thai financial markets.

Foreign exchange remains one of the world’s most actively traded asset classes. The average daily volume (ADV) of foreign exchange trading across Refinitiv’s FX platforms globally totaled $491 billion in January 2022, with the average daily volume for spot trading at $97 billion.

“Refinitiv would like to extend a big congratulations to all the winners at the 2022 Thailand FX Awards. This year we were honoured to have Alisara Mahasandana, Assistant Governor, Financial Markets Operations Group from Bank of Thailand, join us to deliver a keynote address on enhancing FX resiliency amid global uncertainties,” said Nigel Fuller, Sales Director, FX Trading, Asia at Refinitiv.

He added “Refinitiv has had a presence in Thailand since 1996, and as one of the world’s largest providers of financial markets data and infrastructure, we are committed to supporting an efficient, transparent and resilient financial marketplace in the Thai market.”

The 2022 Thailand FX Award Winners are as follows:

  • Best THB FX Data Contributor (THB Spot) – CIMB Thai Bank PCL
  • Best THB FX Data Contributor (Local Cross Currency) – CIMB Thai Bank PCL
  • Best THB Interest Rates Data Contributor (Interest Rate Swap) – Bangkok Bank PCL
  • Best THB Interest Rates Data Contributor (Money Market) – Sumitomo Mitsui Banking Corporation, Bangkok Branch
  • Best OIS Data Contributor – Kasikornbank PCL, Siam Commercial Bank PCL, Bangkok Bank PCL and Standard Chartered Bank (Thai) PCL
  • Best USD/THB FX Bank – Siam Commercial Bank PCL
  • Best Foreign Currency FX Bank – Krungthai Bank PCL
  • Best Bank – Refinitiv Matching – HSBC
  • Best FXall Corporate Client – Toyota Motor Thailand Co., Ltd.

    For further information on Refinitiv’s FX solutions, visit here.

    About Refinitiv, an LSEG business

    Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. With more than 40,000 customers and 400,000 end users in approximately 190 countries, Refinitiv is powering participants across the global financial marketplace. Refinitiv provides information, insights, and technology that enable customers to execute critical investing, trading and risk decisions with confidence. By combining a unique open platform with best-in-class data and expertise, Refinitiv connects people with choice and opportunity – driving performance, innovation and growth for its customers and partners.

    The issuer is solely responsible for the content of this announcement.

    ADB: Laos Has Reformed Business Development, But More Needs To Be Done

    ADB report says Laos should improve business development
    New ADB report says more should be done to improve the business climate in Laos.

    Laos’ regulatory environment for business development has improved, but more must be done to speed up the country’s economic recovery.

    100 Young and Bright ‘Chen Zhi Scholarship’ Students Selected to Pursue Tertiary Education

    Awardees expected to help Cambodia work towards achieving a sustainable future

    PHNOM PENH, CAMBODIA – Media OutReach – 5 April 2022 – Prince Foundation, the philanthropic arm of Prince Holding Group, one of Cambodia’s largest and fastest-growing conglomerates, announced the names of 100 young and bright Cambodian minds as the inaugural batch for the Chen Zhi Scholarship.

    IMG-001.jpeg

    The scholarship program is a progressive initiative under the leadership of philanthropist Chen Zhi, Chairman of Prince Holding Group, in collaboration with MoEYS. The recipients will be pursuing their education goals through reduced barriers such as limited financial circumstances in their academic journey. The scholarship will foster future talents for the sustainability of Cambodia’s major sectors, such as flourishing construction in the real estate sector, advancing financial inclusion and the digital economy in the banking and finance industries, and helping to promote world-class hospitality standards meeting the future human capital needs of the local economy. In addition, this will open doors for Cambodia to raise its standard competitively in the international arena.

    “We were excited to receive more than 1,500 applications submitted over three months for the inaugural batch of Chen Zhi Scholarship,” said Gabriel Tan, Chief Communications Officer of Prince Holding Group. “We have now finalised a hundred top achievers across Cambodia in hopes of ensuring more talents receive a solid foundation in pursuing their dreams, to build a better future for Cambodia.”

    This is the first-ever large-scale scholarship offered by Prince Foundation seeking to boost young Cambodians morale since the onset of the Covid-19 pandemic. The selection process was led by MoEYS with full support from Prince Foundation members. At the beginning of February, more than 200 applicants who performed well in their baccalaureate examinations were shortlisted and interviewed. The scholarship will offer full fees and stipends for students pursuing Bachelor’s degrees at top Cambodian universities, including Royal University of Phnom Penh, National University of Management, and Institute of Technology of Cambodia.

    Prince Group is working to ensure the scholarship works towards achieving the goals outlined in the Education Strategic Plan (2019-2023) that has been designed to implement much-needed education, youth, and sports reforms.

    “With this scholarship program, we hope to play a part to improve and elevate the education level as well as through other ESG initiatives and thought leadership activities planned out this year. We seek to empower the 100 scholars further with various work and learning opportunities should they choose to work with us,” added Gabriel.

    About Prince Holding Group:

    Prince Holding Group is one of the largest conglomerates in Cambodia, with its various units focusing on three core areas: real estate development, financial services and consumer services.

    Prince Holding Group’s key business units in Cambodia include Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, Cambodia Airways, Belt Road Capital Management, as well as Awesome Global Investment Group. Via its subsidiaries, Prince Holding Group has over 80 businesses in Cambodia operating in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors etc.

    Rising foreign direct investment, free trade agreements with leading countries, and future participation in the Regional Comprehensive Economic Partnership are expected to act as key drivers for the Cambodian economy, supported by pro-industry policy initiatives by the government.

    Leveraging a network of industrial, business, and financial professionals across Asia, Prince Holding Group has laid the foundation to be a vital conduit for local and international capital. The Group is firmly committed to the long-term development of Cambodia. For example, Prince Holding Group is developing , an upcoming tourism and residential project that will be one of Cambodia’s first sustainable real estate projects, aiming to secure $16 billion in total investment for the region. Located conveniently within a 10-minute drive from the Sihanoukville International Airport, the project aims to contribute to economic recovery in Sihanoukville.

    #PrinceHoldingGroup

    The issuer is solely responsible for the content of this announcement.

    Feasibility Study Underway for Vientiane to Houaphanh Expressway

    Vientiane to Houaphanh Expressway
    A bridge over the Vientiane to Vang Vieng Epxressway.

    An expressway linking Vientiane Capital with Houaphanh Province is closer to reality after a feasibility study for the project was announced yesterday.