Sanofi-aventis delivers double-digit EPS1 growth in 2009 as the Transformation program progresses

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Algemeen advies 10/02/2010 08:09
Full-year 2009 performance3 boosted by our growth platforms
. Strong performance from our growth platforms enhanced by acquisitions: Emerging Markets (+19.0%), Diabetes (+19.4%), Vaccines (+19.2%), Consumer Health Care (+26.8%), largely offset the impact of generic competition for Eloxatin® in the U.S. and Plavix® in Europe
. Flu vaccine sales of €1,062 million including €440 million A/H1N1 sales. Pentacel® sales reached €341 million in the U.S.
. Launch of Multaq® in the U.S. on track; approval also granted in the European Union, Canada, Switzerland, Brazil and Mexico
. 2009 adjusted EPS excluding selected items2 up 13.1% at constant exchange rates to €6.49, consistent with guidance
. Proposed dividend of €2.40 per share (versus €2.20 paid in 2009 ), payable May 25, 2010

Execution on our Transformation program
. Growth platforms reinforced in 2009 with €6.6 billion invested in 33 new partnerships and acquisitions
. Creation of a U.S. consumer health care platform with the successful tender offer for Chattem
. Significant achievements in R&D: portfolio prioritization completed; 60% of the development portfolio in biologics and vaccines; multiple licenses and acquisitions; BSI-201, cabazitaxel and otamixaban moving forward.

2010 guidance
. Despite expected generic competition, and given the performance of growth platforms, sanofi-aventis expects growth4 in Business EPS2 at constant exchange rates to be between 2% and 5% in 2010, barring major unforeseen adverse events. This guidance does not take into account potential generic competition for Lovenox®.

Unless otherwise indicated, all sales growth figures in this press release are stated at constant exchange rates2.
In the fourth-quarter of 2009, sanofi-aventis generated net sales of €7,361 million, up 3.8% on a reported basis. Exchange rate movements had an unfavorable effect of 5.1 percentage points, of which approximately 60% was due to the weakening of the U.S. dollar versus the euro. At constant exchange rates, and adjusting for changes in structure (in particular the consolidation of Zentiva and Medley), net sales rose by 8.9%. Excluding changes in structure and at constant exchange rates, fourth-quarter organic net sales growth was 5.6%.
For full-year 2009, net sales rose by 6.3% to €29,306 million. Exchange rate movements had a favorable effect of 1.0 percentage point. The appreciation of the U.S. dollar (and to a lesser extent the yen) against the euro more than offset the unfavorable effect of various other currencies. At constant exchange rates, and after taking into account changes in structure (primarily the consolidation of Zentiva and Medley in the second quarter, and the end of commercialization of Copaxone® by sanofi-aventis in North America effective April 1, 2008), net sales rose by 5.3%. Excluding changes in structure and at constant exchange rates, organic net sales growth in 2009 was 4.0%.

see more on
http://en.sanofi-aventis.com/binaries/20100210_Results2009_en_tcm28-27173.pdf



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