Blood Drug Boost Sanofi-Aventis 4Q

PARIS -

Sanofi-Aventis said Tuesday net profit in the fourth quarter rose 31 percent, helped by sales of blood-thinner Plavix in the United States and cost-cutting measures.

The world's third-largest pharmaceutical company by prescription sales said net profit in the three months through December rose to 753 million euros ($1.09 billion) from 575 million euros ($836.16 million) in the same period a year earlier.

Sanofi-Synthelabo and Aventis combined in 2004.

The closely watched profit before merger and restructuring costs was 1.46 billion euros ($2.12 billion), up 6.2 percent from 1.38 billion euros ($2.01 billion) and slightly ahead of analyst expectations.

Last year's net result had been hit by a 214 million euros ($311.2 million) charge.

Sales of the company's top 15 products declined 0.3 percent in the quarter to 4.17 billion euros ($6.06 billion), hit by generic versions of Sanofi's sleeping pill Ambien IR in the United States and its cancer treatment Eloxatin in Europe.

Comparable sales growth excludes the impact of exchange rate movements and changes in the company's structure.

The group's key drugs charted strong performances, with blood-thinner drug Plavix, antithrombotic Lovenox, and diabetes treatment Lantus posting comparable sales growth of 14 percent, 17 percent and 31 percent respectively.

The strong euro weighed on the company's reported sales, reducing them by 4.2 points, Sanofi said.

Sanofi-Aventis will buy back 1.2 billion euros ($1.75 billion) of its own shares before its annual shareholder meeting in May having bought 1.8 billion euros ($2.62 billion) in 2007, Jean-Claude Leroy, executive vice president for finance and legal, told a news conference.

The company's shares opened down 2.9 percent at 53 euros ($77.07).