Sanofi-Aventis reports ‘solid growth’

Sanofi-Aventis has announced its financial results for the second quarter of the 2008 fiscal year, with the company reporting “solid growth” during the period.

During the quarter, the company generated net sales of 6,689 million euros (5,258 million pounds), a 3.6 per cent decrease on a reported basis but 5.2 per cent rise on a comparable basis.

The pharmaceuticals business grew by 4.1 per cent, with robust performance seen in the firm’s flagship products and resilience from the rest of its portfolio.

Operating income excluding currency effects grew by 11.2 per cent during the quarter, while the ratio of selling and general expenses to net sales improved from 27.8 per cent to 26.7 per cent.

In the second quarter, the company made a competing tender offer for Zentiva, while it signed an agreement to acquire a nutraceuticals and over-the-counter business in Australia.

It also recommended an offer by its Sanofi Pasteur subsidiary for Acambis.

“Barring major adverse events, Sanofi-Aventis expects 2008 full-year adjusted earnings per share excluding selected items to grow around eight per cent calculated at constant 2007 euro/dollar parity (1.371),” the company said.

Earlier this month, Sanofi-Aventis announced the approval of Apidra (insulin glulisine [rDNA origin] injection) by the European Commission as a treatment for hyperglycemia control in young people with diabetes mellitus.