Sanofi-Aventis Q2 Profit Slips
Sanofi-Aventis reported a 13.2% decline in its second-quarter business net income to €2.15 billion from €2.48 billion last year. Business earnings per share were €1.64, down 13.7% from €1.90 in the 2010 second quarter. At constant exchange rates, business earnings per share decreased by 7.4%.
Net income attributable to equity holders of Sanofi for the same period dropped 41.1% to €1.0 billion from €1.71 billion a year earlier. Consolidated earnings per share were € 0.77, lower than €1.31 in the previous year.
Net sales in the second quarter of 2011 totaled €8.35 billion compared with €8.31 billion in the same period a year ago. Total sales at constant exchange rates grew 6.9%, thanks to the Genzyme acquisition and performance of growth platforms, the company said.
In addition, the company said it expects 2011 business earnings per share to be 2% to 5% lower than 2010 business EPS7 at CER, barring major unforeseen adverse events. This guidance does not assume a return of generics of Eloxatin in the U.S.
