2020 - Boehringer Ingelheim

BOEHRINGER INGELHEIM ANNUAL REPORT

2020

Value through Innovation

financial highlights

summary report

Amounts in millions of EUR, unless otherwise indicated

Net sales by region Americas Europe Asia/Australia/Africa (AAA) by business Human Pharma Animal Health Biopharmaceutical Contract Manufacturing Discontinued Operations

Research and development expenses

Personnel expenses Average number of employees

Operating income Operating income as % of net sales

Group profit as % of net sales

Group equity

Investments in tangible assets Depreciation of tangible assets

2020

19,566

45% 30% 25%

74% 21%

4% 1%

3,696

5,587 51,944

4,624 23.6%

3,062 15.6%

17,307

1,046 602

2019 18,997

Change +3%

46% 30% 24%

74% 21%

4% 1%

3,462

5,367 51,015

3,782 19.9%

2,721 14.3%

14,681

1,073 585

+7% +4% +2% +22%

+13%

+18% ?3% +3%

SUMMARY REPORT

2020

Top 4 products -- Human Pharma

Net Sales 2020 jardiance? ofev? spiriva? trajenta?/jentadueto?

in million EUR 2,480 2,055 1,793 1,512

Change +15% +38% ?13% ?3%

Top 4 products -- Animal Health

Net sales 2020 nexgard? frontline? heartgard? ingelvac circoflex?/ flexcombo?

in million EUR 804 406 312

264

Change +9% +7% ?2%

+11%

overview

THE CORE OF OUR LEITBILD

01

GROUP MANAGEMENT REPORT

09

CONSOLIDATED FINANCIAL STATEMENTS

49

PRODUCT PORTFOLIO

81

content

THE CORE OF OUR LEITBILD

01

The Shareholders' Perspective

02

Key Aspects 2020

06

Corporate bodies

08

GROUP MANAGEMENT REPORT

09

Information about the Group

10

Report on economic position

32

Report on opportunities and risks

43

Report on expected developments

47

CONSOLIDATED FINANCIAL STATEMENTS 49

Overview of selected consolidated companies

50

Consolidated balance sheet

52

Consolidated profit and loss statement

53

Cash flow statement

54

Statement of changes in group equity

55

Notes to the consolidated financial statements

56

Independent auditor's report

77

PRODUCT PORTFOLIO

81

HUMAN PHARMACEUTICALS

82

Respiratory diseases

82

Cardiovascular and metabolic diseases

86

Oncology

92

Diseases of the central nervous system

94

Infectious diseases

94

ANIMAL HEALTH

96

Livestock ? swine

96

Livestock ? cattle/ruminants

98

Livestock ? poultry

102

Veterinary Public Health (VPH)

104

Companion animals ? horse

106

Companion animals ? pets

108

OUR COMPANY

Making new and better medicines for humans and animals is at the heart of what we do. Our mission is to create breakthrough therapies that change lives. Independent and family-owned, Boehringer Ingelheim has the freedom to pursue its long-term vision, looking ahead to identify the health challenges of the future and targeting those areas of need where we can do the most good.

As a world-leading, research-driven biopharmaceutical company, almost 52,000 employees create value through innovation daily for our three business areas: Human Pharma, Animal Health, and Biopharmaceutical Contract Manufacturing. In 2020, Boehringer Ingelheim achieved net sales of 19.6 billion euros. Our significant investment of almost 3.7 billion euros in R&D drives innovation, enabling the next generation of medicines that save lives and improve quality of life.

We realize more scientific opportunities by embracing the power of partnership and diversity of experts across the life-science community. By working together, we accelerate the delivery of the next medical breakthrough that will transform the lives of patients now, and in generations to come.

2

Boehringer Ingelheim Annual Report 2020

THE SHAREHOLDERS' PERSPECTIVE

THE SHAREHOLDERS' PERSPECTIVE

3

2020 will go down in history as the year of the COVID-19 pandemic that cost more than two million people their lives, destroyed livelihoods, and put our society to a severe test. In light of this global challenge, the pharmaceutical industry has expanded its research into COVID-19 at an unprecedented pace. After all, despite comprehensive and diverse measures to protect life and health, it is the means of pharmacy that can be used to combat and end the pandemic.

Until recently, it would have taken more than ten years from the identification of a virus to the approval of a vaccine against it. The fact that vaccines and therapies have now been developed and made market-ready within months was only made possible by the close cooperation between pharmaceutical companies, academia, and public authorities. Policymakers are responsible for creating conditions that make such innovations possible, and the importance of an innovation-friendly environment for society as a whole has never been clearer than during this pandemic.

With our company vision of "Creating value through innovation", we affirm our commitment to excellence in science. This applies not only to the fight against COVID-19, but also to diseases for which no effective treatment options are available yet. To continue to be able to pursue these objectives in the future, we want to remain what makes Boehringer Ingelheim so unique -- an independent and economically strong family-owned company of global importance.

We would like to express special appreciation to our employees. In an often difficult personal and professional environment, they have protected and supported one another by showing extraordinary commitment and great solidarity, thus maintaining the global supply of medicines that humans and animals so desperately need. Even during lockdowns, our employees continued to do their research and develop new therapies, not least to combat COVID-19. We would like to thank all of them for their outstanding commitment.

signed by Christian Boehringer Chairman of the Shareholders' Committee

THE BOARD OF MANAGING DIRECTORS

Michel Pairet

Carinne Brouillon

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