Sanofi-Aventis net profit in 1st-qrt 2011 slumps 29%, battered by generics and low flu sales
French drug major Sanofi-Aventis (Euronext: SAN) posted first-quarter 2011 results yesterday, showing that net profit had plunged 28.9% to 1.22 billion euros ($1.77 billion) and sales were 7.78 billion euros, down a marginal 1.5% on a reported basis and 5.2% lower at constant exchange rates. Business net income (non-GAPP) fell 10.6% to 2.17 billion euros, with business earnings per share 10.8% lower at 1.66 euros.
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