Sanofi-Aventis
French drug major Sanofi-Aventis' first-quarter 2008 adjusted net profit fell 12% year-on-year to 1.86 billion euros ($2.9 billion), or 1.41 euros per share, versus a consensus analyst forecast of 1.36 euros. Operating income was 7.2% lower at 2.52 billion euros, and included a restructuring charge of 28.0 million euros relating to the adaptation of industrial facilities in France.
During the period, the firm generated net sales of 6.94 billion euros, down 3.3% on a reported basis (0.8% on a comparable basis), while other revenues rose 10.9% to 284.0 million euros, reflecting strong US turnover of the group's blockbuster blood-thinner Plavix (clopidogrel).
The ratio of cost of sales to net sales was 27.2%, 1.2 points higher as, in first-quarter 2007, sleep drug Ambien (zolpidem) IR was not yet facing generic competition. Eloxatin (oxaliplatin) was also hit by generic pressure. Sales of the cancer drug fell 6% to 342.0 million euros.
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