Sanofi-Aventis sees 9% rise in third-quarter profit, beating forecasts
Leading French drugmaker Sanofi-Aventis beat analysts' consensus forecasts with its third quarter 2007 financial results, despite seeing generic competition for some of its top products, and saw its share price rise 2.4% to 60.65 as an immediate reaction following the release of the figures on October 31.
Net sales for the reporting period grew 4.4% on a comparable basis (up 1.8% on reported terms) to 7.03 billion euros ($10.12 billion), with pharmaceutical turnover - after excluding the impact of generic competition for Ambien (zolpidem) in the USA and Eloxatin (oxaliplatin) in Europe - increasing 6.4%. Revenues from the vaccines business leapt 49.2% to 943.0 million euros, boosted by earlier shipments of influenza vaccines than in the previous year.
Raises full-year guidance
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