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Sanofi-Aventis

Generics, currency flux take a toll on revenues

Sanofi-Aventis 4Q10

4Q Revenues: $10.0 billion (8%)

4Q Earnings: $594 million (-67%)

FY Revenues: $40.3 billion (-1%)

FY Earnings: $7.3 billion (-1%)

Comments: Figures are skewed by the 8% drop in EUR to USD exchange rate from 4Q09 to 4Q10 and the 5% drop from FY09 to FY10. At constant exchange rates, 4Q10 revenues were down 6% and FY10 revenues were up 1%. Lantus sales were up 9% for 4Q and FY to $1.2 billion and $4.6 billion, respectively. Lovenox sales were hurt by U.S. generics, dropping 11% for FY to $3.7 billion and 27% in 4Q to $791 million. Taxotere revenues also suffered from generic competition, dropping 20% in 4Q to $620 million and 6% FY to $2.8 billion.

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