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Home Industry News Sanofi Aventis profits up 25 per cent as CEO extends tenure

Sanofi Aventis profits up 25 per cent as CEO extends tenure

24th February 2006

Full year profits at Sanofi-Aventis rose by a quarter last year, as the company decides to hold on to its CEO.

Earnings per share (EPS) at the company rose by 25.7 per cent, from 3.77 euros to 4.74 euros. Net income, after adjustments, topped 6.3 billion euros (?4.3 billion) for the year ? up by 26.1 per cent on 2004.

Sales of the company’s products grew by 8.4 per cent to 27.3 billion euros, despite the introduction of generic versions of four Sanofi products in the last three months of 2005.

Sanofi announced that it will ask shareholders, at an annual general meeting on May 31st, to extend the retirement age for the position of chairman and CEO ? allowing Jean-Francois Dehecq to stay at the company.

He said that the outlook for the year was positive: “Barring major adverse events and after taking account of the full-year impact of generics? we expect 2006 full year adjusted EPS growth around ten per cent”.

Meanwhile, it said that weight loss drug Acomplia would be available in the second half of 2005. The US Food and Drug Administration issued an “approvable letter” requesting more information on the drug before it gives it a full marketing licence.

track© Adfero Ltd

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