Sanofi hit by generic Plavix threat in Europe

By Ben Hirschler

LONDON (Reuters) - French drugmaker Sanofi-Aventis (SASY.PA: Quote, Profile, Research), which briefly encountered generic competition to its second-biggest product Plavix in the United States in 2006 and 2007, now faces a similar threat in Europe.

Schweizerhall (SWHN.S: Quote, Profile, Research), a Swiss generic drug company, said on Friday it was close to winning approval for a generic version of the blood-thinning drug in Germany and Luxembourg. It hopes to launch the cut-price generic medicine before the end of June.

The news sent shares in Sanofi, the world's third-largest drugmaker by sales, down 5.9 percent to 47.50 euros by 8:20 a.m. EDT, making them the biggest blue-chip loser in Europe, with trading volume well above the stock's average.

Schweizerhall shares jumped 8.5 percent to 193 Swiss francs.

"Obviously, generic competition would be a most unwelcome development," said Mike Ward, a pharmaceuticals analyst at Nomura Code Securities.

Sanofi's blockbuster medicine is protected by patents until 2013. But Schweizerhall said it was close to launching a generic version despite this.

"We're not releasing any details on our patent strategy but what I can tell you is we are not infringing any of Sanofi's patents," Schweizerhall Chairman Luzi von Bidder told Reuters.

The Basel-based company expects approval shortly from German regulators for its version of clopidogrel, as Plavix is known generically, and it plans to launch the drug throughout the European Union in cooperation with marketing partners.