Boehringer Ingelheim, the German pharma giant whose North American headquarters are in Ridgefield, reports that despite the pandemic, it maintained momentum in 2020.
The company stepped up its investments in R&D by 7% from 2019, to $4.2 billion ”“ the highest annual investment in R&D in its 136-year history.
“We started our R&D for potential Covid-19 therapies early in the first quarter of 2020, recognizing the urgent need,” said Hubertus von Baumbach, chairman of the board of managing directors.
Boehringer also has about 100 projects across all phases of the research process. The goal is for 75% of those projects to be either the first molecule in their active ingredient class or in a new therapeutic area.
In December, the company announced together with Cologne University Hospital, the University of Marburg and the German Center for Infection Research the initiation of Phase I/IIa clinical investigation of BI 767551, the first SARS-CoV-2 neutralizing antibody administrated via inhalation as a potential new therapeutic and prophylactic option to block the virus at the site of infection.
Other Covid-19 initiatives include the research and development of SARS-CoV-2 antibodies that can be combined with BI 767551, small molecules to inhibit its replication, and therapy development to prevent microcoagulation (blood clots).
Boehringer recorded net sales of $22.3 billion last year, a 3% increase over the previous year.
