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Boehringer Ingelheim profits up despite manufacturing compliance damage

This article was originally published in Scrip

Executive Summary

Boehringer Ingelheim has reported declining revenues in 2013 due to weakening currencies in the US and Japan and one-off charges of €500m related to manufacturing deficiencies and provisions set aside for US lawsuits over its blood-thinner Pradaxa. Nevertheless, in the face of a 4.3% decline in net sales to €14.1bn (up 1.4% in local currencies), operating income grew from 12.6% to 15.0% of net sales (€2.1bn in total).

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