Sales & Earnings In Brief
This article was originally published in The Tan Sheet
Executive Summary
Sanofi-Aventis: The French company has a "good basis" to expand its OTC presence globally from its current position that is a "little bit overlooked," but generates about $775 million in annual sales, Executive VP for Pharmaceutical Operations Hanspeter Spek says during the firm's July 31 earnings call. Several of Sanofi's brands, including OTC laxative Maalox, are close to reaching global status, he notes. Sanofi reported its fiscal 2008 second-quarter earnings a week after announcing plans to purchase Australia's leading vitamin and mineral supplements firm, Primary Health Care's Symbion Consumer unit, for $521.4 million (1"The Tan Sheet" July 28, 2008, p. 17). Sanofi reported its net sales grew 5.2 percent to 2.73 billion euros ($10.43 billion under July 31 conversion rates) excluding the impact of currency and acquisitions. Sanofi's adjusted net income was flat at $2.73 billion...