Sanofi-Aventis is a global pharmaceutical company that contributes to enhance life by providing medicines, vaccines, and integrated healthcare solutions adapted to local needs and means primarily in Europe and the United States. The company is engaged in the research, development, manufacture and marketing of healthcare products. Its strategy is built around three priorities to reach its goals and ensure sustainable growth. The priorities are: increasing innovation in Research and Development, adapting Group structures to future challenges and seizing external growth opportunities. Sanofi-Aventis specializes in six therapeutic areas: thrombosis, cardiovascular, metabolic disorders, oncology, central nervous system (CNS) and internal medicine. The Company offers vaccines in five areas: pediatric combination vaccines, influenza vaccines, adult and adolescent booster vaccines, meningitis vaccines, and travel and endemic vaccines. Sanofi-Aventis is headquartered in Paris, France.
Industry:Large Cap Pharma Sector: Medical Fiscal Year End:December Last Reported Quarter:03/31/12 Next EPS Date:07/26/12
Capital Structure Solvency and Cash Flow
Net cash generated by operating activities (before restructuring activities) was €10,667 million in 2010, up 20.1%. Capital expenditure was €1,261 million in 2010, down 13.6%. During 2010, the company spent €321 million on share buybacks.
Net debt was €1,577 million at the end of December 2010 (debt of € 8,042 million, net of €6,465 million of cash and cash equivalents) compared with €4,128 million at December 31, 2009.
The company intends to increase dividend from €2.40 to €2.50.
Last edited Mon May 02, 2011 04:31 AM by PushpanjaliBanerjee (Zacks Investment Research)
Governance Social Responsibility and Employee Relations
On April 8, 2011, Sanofi completed its acquisition of biotech company Genzyme Corporation. With the completion of the acquisition, Genzyme, now a wholly-owned subsidiary of Sanofi, will be Sanofi’s global center for excellence in rare diseases.
Per the terms of the deal announced in February 2011, Genzyme shareholders will receive $74 per share in cash (or $20.1 billion) in addition to a contingent value right (CVR) for each share. The CVR will allow each shareholder to receive additional payments related to Lemtrada (alemtuzumab for multiple sclerosis) and the achievement of specified production volumes in 2011 for Cerezyme and Fabrazyme.
Sanofi is using the proceeds from its issuance of $7 billion in dollar-denominated notes, $7 billion raised through its US commercial paper program, a drawing of $4 billion on the bridge facility negotiated in October 2010, and available cash, to finance the $20.1 billion transaction.
Last edited Mon May 02, 2011 04:32 AM by PushpanjaliBanerjee (Zacks Investment Research)
Recent and Upcoming Events
Major Risks
The company is already facing or will face patent expiry on several products including Taxotere, Plavix, Avapro, and Lovenox over the 2010 to 2012 time period.
With a major part of its revenues exposed to generic competition, the company’s pipeline needs to deliver.
Longer term, Lantus could face competition from Novo Nordisk’s degludec and biosimilars. Sanofi’s vaccine franchise could also face additional competition from Glaxo and Novartis.
Last edited Mon May 02, 2011 04:33 AM by PushpanjaliBanerjee (Zacks Investment Research)
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