Sanofi-Aventis' 4th-qtr adjusted net leaps 13,9%, on older drug sales growth

Sanofi-Aventis' new chief executive, Chris Viehbacher, gave an upbeat presentation of the French drug major's fourth-quarter and full-year  2008 results, stressing the need to increase R&D innovation and  revealing related staff reorganizations (see page 28).

He said the company, Europe's third largest in terms of pharmaceuticals  sales, needs to adapt its operating model, now too focused on  traditional markets, to reflect the diversity of its activities and  geographical reach. Speaking at a Paris press conference to announce  the figures, Mr Viehbacher would not be drawn on M&A activity, saying  only that Sanofi would likely seek small-to-medium acquisitions.

Full-year net sales advanced 3.7% to 27.57 billion euros ($36.02  billion), with adjusted net income up 3.2% at 7.18 billion euros and  earnings per share of 5.49 euros, up 6.2%. Consolidated net income for  the 12 months was 3.85 billion euros, versus 5.26 billion euros in 2007,  mainly due to an impairment charge of 1.48 billion, relating to the  discontinuation of further development on larotaxel and XPR6258 in  breast cancer, as well as a settlement with Barr, the company noted.