INGELHEIM, Germany, April 5 Boehringer
Ingelheim, Germany's second-largest drugmaker, said on Wednesday
it was targeting a marked gain in 2017 revenues, boosted by new
animal health businesses it acquired from Sanofi.
Unlisted Boehringer on Jan. 1 wrapped up an asset swap that
saw Boehringer take Sanofi's $13.5 billion animal care
subsidiary, making it Europe's largest player in the industry.
In return, Sanofi obtained the German company's consumer
health care business unit, valued at nearly $8 billion, plus a
$5.5 billion cash payment from Boehringer.
Boehringer, which invented mass production of baking powder
in the 1890s and which collaborates on diabetes drugs with Eli
Lilly, posted a 7.1 percent gain in sales to 15.9
billion euros ($17.0 billion) last year.
Operating income jumped 27 percent to 2.9 billion euros,
helped by an upfront payment of almost $600 million from U.S.
drugmaker AbbVie for the marketing rights to a
promising experimental psoriasis treatment.
($1 = 0.9368 euros)
(Reporting by Patricia Weiss; Writing by Ludwig Burger; Editing
by Maria Sheahan)