Early Life
Erich von Baumbach is part of the fourth generation of the Boehringer/von Baumbach family, who control the pharmaceutical company Boehringer Ingelheim. His lineage traces back to the company's founder, Albert Boehringer, who established the firm in 1885. Erich became a member of the Shareholder's Committee in 1992, contributing to the family's long-term focus on the company's sustainable action.
Rise to Success
Boehringer Ingelheim is the world's largest privately-owned pharmaceutical company. The company has grown from a regional chemical producer to a global pharmaceutical giant, with a workforce of over 53,000 employees and a presence in 130 markets. Under the family's guidance, the company has expanded into new therapeutic areas, driving innovation and expanding its market presence. Erich's family has always prioritized research, ethical business practices, and a long-term vision.
Key Business Strategies
Boehringer Ingelheim focuses on long-term, sustainable action, sound financing, and organic corporate growth. The company has made significant investments in site infrastructure and maintained its family-owned status. A major business swap in 2017 saw changes to the company's product portfolio, strengthening its profile in the animal health market. The company's annual R&D budget is around three billion euros.
Philanthropy
The Boehringer and von Baumbach families are committed to philanthropy, with the Boehringer Ingelheim Foundation funding scientific research and education, as well as initiatives focused on public health, environmental sustainability, and social welfare.