Bayer dethroned as Germany’s top drugmaker

Privately owned Boehringer Ingelheim surpassed German pharma giant Bayer (OTCPK:BAYRY) as the country’s largest drugmaker on Tuesday when the unlisted company reported €20.8B ($22.1B) from pharmaceutical sales in 2023.

In March, Bayer (OTCPK:BAYZF) reported €18.0B in sales from its Pharma segment for 2023, mostly unchanged from last year on a forex-adjusted basis, as sales from China and its oral anticoagulant Xarelto developed with J&J (JNJ) fell below expectations.

Meanwhile, sales from its Consumer Health business fell ~1% YoY to €6.1B, and sales from the Crop Science segment dropped ~8% YoY to €23.3B

In contrast, family-owned Boehringer reported a currency-adjusted growth of ~10% YoY last year as sales from diabetes therapy Jardiance marketed with Eli Lilly (LLY) and lung therapy OFEV grew ~31% YoY and ~13% YoY to €7.4B and €3.5B, respectively.

The Ingelheim-based firm also reported €4.7B in net sales from its animal health products as Nexgard, a flea and tick treatment that competes with Zoetis’ (ZTS) Simparica, added €1.2B with ~17% YoY growth.