Sanofi-Aventis ‘shows growth despite generics competition’

Sanofi-Aventis has announced its results for the financial year ended December 2006, reporting an increase in earnings per share despite competition from suppliers of generic pharmaceuticals.

The company reported net sales of 28,373 million euros (18,994 million pounds), an increase of four per cent on the previous year. It noted that this increase would have been 8.2 per cent, were it not for the impact of generics forms of four of its pharmaceutical products released in the US.

Pharmaceutical sales increased by 2.5 per cent, reaching 25,840 million euros.

Sanofi-Aventis reported an increase in adjusted earnings per share (EPS) of 10.3 per cent to 5.32 euros. The company announced that it would be submitting a dividend of 1.75 euros per share, an increase of 15.1 per cent, for approval at its annual general meeting in May.

“Barring major adverse events, including events on Lovenox and Plavix in the US, the group expects a growth in 2007 adjusted EPS excluding selected items in the same order of magnitude as 2006 growth,” the company reports.

It added that it forecast this growth despite the competition from generics of Eloxatin in Europe and the end of patent protection for Ambien IR in the US.

Last December, Sanofi-Aventis reported that the Canadian Federal Court of Appeals had ruled in its favour, preventing Apotex from marketing its 75 mg clopidogrel bisulphate tablets in Canada.