Sanofi-aventis income jump

Sanofi income jumps

Reports are surfacing that suggest French pharmaceutical giant sanofi-aventis has
seen an income jump of as much as 13 percent for 2009, marking significant growth for the industry.

According to reports, the European drug maker has booked a 12.8 percent increase in net income (excluding certain items) to 8.4 billion euros for 2009, with fourth-quarter earnings up nearly 20 percent at 1.8 billion euros.

Initial reports suggest that the globally operating group saw its earnings per share leap 18.2 percent to 6.49 euros per share for the year, as net sales climbed 5.3 percent to 29.3 billion euros. Projected growth for the Paris-based pharma group is expected to be between two and five percent in 2010, barring major unforeseen events and despite expected generic competition, in particular to its anti-thrombotic Lovenox (enoxaparin).

More on the story is expected tomorrow.

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