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Sanofi-Aventis 1st quarter profit up 8.6 percent

Wed, 04/28/2010 - 10:17pm
The Associated Press

Sanofi-Aventis is reporting an 8.6 percent increase in first quarter net profit thanks to its swine flu vaccine and acquisitions including the Tennessee company Chattem Inc.

France's largest drug maker said net profit in the three month period rose to euro1.71 billion ($2.26 billion) from euro1.58 billion a year earlier.

Excluding writedowns and acquisition costs, profit rose 10 percent to euro2.42 billion in the quarter. Revenue rose 3.9 percent to euro7.39 billion.

The company said it is keeping its full year guidance unchanged of growth in earnings per share between 2 and 5 percent at constant exchange rates and excluding possible generic competition to its bloodthinner drug Lovenox.

Chief Executive Christopher Viehbacher called the results a "good start to the year."

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