Sanofi-aventis third quarter affected by generic launch, net sales down 1.1%

By Lisa Kerner

Charlotte, N.C., Oct. 31 - Sanofi-aventis said its third quarter took a hit from the U.S. launch of a generic version of clopidogrel bisulfate in August and by efforts to curb health care costs in France and Germany.

Net sales for the quarter were down 1.1% at €6.9 billion. Adjusted earnings per share for the period were also down 12.5% at €1.26. Research and development expenses rose 8.4%.

For the first nine months of 2006, Sanofi-aventis reported net sales of €21 million, an increase of 2.6% from the prior-year period. Also up at 15% were adjusted earnings per share of €4.21.

The company reported an 11.2% increase in research and development expenses for the nine-month period.

Looking ahead, Sanofi-aventis expects adjusted earnings per share growth of 2% for the full-year period.

Third-quarter net sales of the top 15 pharmaceutical products grew 1.5% to €4.2 billion.

For the nine-month period, net sales for the pharmaceuticals business totaled €19.290 billion, up 1.3%. Net sales of the top 15 products rose by 5.0% to €12.9 billion.

Based in Paris, Sanofi-aventis is the world's third largest pharmaceutical company.

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