Sales & Earnings In Brief
This article was originally published in The Tan Sheet
Executive Summary
Sanofi seeks more acquisitions: Sanofi-Aventis continues to "hunt" for bolt-on acquisitions to further diversify its portfolio and feed its pipeline now that it has "properly bedded down and integrated" Chattem, said CEO Chris Viehbacher. He told analysts April 29 that the environment is "quite promising" for acquisitions and Sanofi is "aggressively pursuing external growth opportunities." The Chattem deal significantly boosted Sanofi's consumer health care business, which grew 42.5 percent to €499 million ($661.1 million) in the firm's fiscal 2010 first quarter, according to a same-day release (1"The Tan Sheet" March 15, 2010). Viehbacher lauded Chattem as a keystone in the company's future as a switch platform for the allergy medication Allegra. He noted Sanofi filed the paperwork with FDA for the switch in March; he expects the switch evaluation to take the same amount of time as other new product applications. Prescription sales for Allegra fell 27.1 percent in the quarter due to new competition from generics launched in the U.S. last November. Overall sales for the Paris-based firm grew 5.8 percent, according to the release