Sanofi-Aventis Revenue Up on Strong Sales
Posted on: Tuesday, 19 July 2005, 09:01 CDT
PARIS - Sanofi-Aventis SA said Tuesday its second-quarter revenue rose 6.5 percent, boosted by strong sales of its anti-stroke drug Plavix, diabetes medicine Lantus and cancer drug Eloxatin.
The French drugmaker, which completed a 52 billion euros ($63 billion) takeover of bigger rival Aventis SA in 2004, said revenue rose to 6.69 billion euros ($8.06 billion) under new International Financial Reporting Standards, from the 6.28 billion euros posted a year earlier by the units that subsequently merged.
In the first six months of 2005, Sanofi-Aventis' revenue rose 7.3 percent to 13.1 billion euros ($15.8 billion) from 12.2 billion euros in the year-earlier period.
However, the company did not reiterate its full-year guidance for 18 percent earnings per share growth, saying merely that it is looking to "grow in line with market growth."
Sanofi-Aventis shares fell 2.3 percent to 68.85 euros ($82.99) in Paris trading.
Like most French companies, Sanofi-Aventis publishes its revenue and earnings figures separately, and is set to report full first-half earnings Aug. 31.
Sales growth was strongest in the United States, where Sanofi reported growth of 16.2 percent in the first half, compared to 9.3 percent in Europe and 6.9 percent in the rest of the world.
The company said its top 15 drugs generated revenue of 7.79 billion euros ($9.39 billion) in the first half, up 17 percent from the year-earlier period on a comparable basis - excluding the impacts of exchange rate fluctuations, selloffs and acquisitions.
Blood-thinning drug Plavix, whose patents are being challenged by two generic drugmakers in the U.S. courts, recorded sales of 974 million euros ($1.17 billion) in the first half, up 21 percent from the year-earlier period on a comparable basis.
The company said it regained marketing rights to Plavix in Japan at the beginning of July as a result of the merger of Japanese pharmaceutical company Daiichi with Sankyo.
Lovenox, Sanofi's other blockbuster anti-blood clotting drug, recorded sales of 1.02 billion euros ($1.23 billion) in the first half, up 17 percent from the year-earlier period. Lovenox's patents are also in doubt after a summary judgment in favor of challenger Amphastar Pharmaceuticals.
Source: Associated Press/AP Online
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