** I hate these companies.. come out with a drug for COPD that actually helps!!
Boehringer says H1 operating profit up 30-40 pct
Tuesday, July 28 01:13 pm
Print Story Boehringer Ingelheim, Germany's second-largest drugmaker, said first-half operating profit rose 30-40 percent, helped by demand for its best-selling lung drug and by currency effects.
PriceStock prices Company name Last price Percentage change
While a company spokesman declined to be more specific on earnings, Boehringer said in a statement on Tuesday that first-half sales rose 15.7 percent to 6.39 billion euros (5.5 billion pounds).
Revenue from its blockbuster drug Spiriva, an inhalant against COPD, also known as smokers lung, increased 15 percent to 1.18 billion euros. The drug, co-marketed with Pfizer , competes with GlaxoSmithKline's respiratory drug Advair.
Earlier this month, unlisted Boehringer sparked speculation it might be preparing for an acquisition when it launched a 900 million euro bond.
Boehringer at the time said the bond was for general business purposes, adding there were no takeover plans.
First-half earnings were also underpinned by higher demand for a pig vaccine and for the prostate drug Flomax, which generated sales of 709 million euros, up 27.2 percent.
The family-owned company reiterated that group sales would rise faster than the pharmaceutical market this year, adjusted for currency effects, but would stagnate in 2010, hurt by the expiry of patents, including that on Flomax.
Boehringer cooperates on Flomax with Japan's Astellas Pharma .
Sales would grow again in 2011 as new products would come to market, it said.
Boehringer says H1 operating profit up 30-40 pct
Tuesday, July 28 01:13 pm
Print Story Boehringer Ingelheim, Germany's second-largest drugmaker, said first-half operating profit rose 30-40 percent, helped by demand for its best-selling lung drug and by currency effects.
PriceStock prices Company name Last price Percentage change
While a company spokesman declined to be more specific on earnings, Boehringer said in a statement on Tuesday that first-half sales rose 15.7 percent to 6.39 billion euros (5.5 billion pounds).
Revenue from its blockbuster drug Spiriva, an inhalant against COPD, also known as smokers lung, increased 15 percent to 1.18 billion euros. The drug, co-marketed with Pfizer , competes with GlaxoSmithKline's respiratory drug Advair.
Earlier this month, unlisted Boehringer sparked speculation it might be preparing for an acquisition when it launched a 900 million euro bond.
Boehringer at the time said the bond was for general business purposes, adding there were no takeover plans.
First-half earnings were also underpinned by higher demand for a pig vaccine and for the prostate drug Flomax, which generated sales of 709 million euros, up 27.2 percent.
The family-owned company reiterated that group sales would rise faster than the pharmaceutical market this year, adjusted for currency effects, but would stagnate in 2010, hurt by the expiry of patents, including that on Flomax.
Boehringer cooperates on Flomax with Japan's Astellas Pharma .
Sales would grow again in 2011 as new products would come to market, it said.