Sanofi-Aventis raises guidance

Thu Jul 31, 2008 6:32am BST
 
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PARIS, July 31 (Reuters) - Pharmaceuticals group Sanofi-Aventis (SASY.PA) on Thursday posted lower than expected earnings per share and revenues for the second quarter but raised its earnings per share forecast for 2008.

The French company also said it had filed a dossier for its Multaq irregular heartbeat drug in Europe and the United States.

Sanofi-Aventis reported adjusted second-quarter earnings per share of 1.23 euros, down from 1.24 euros a year earlier and below the 1.33 average forecast in a Reuters analyst poll.

Net sales fell 3.6 percent to 6.689 billion euros versus a consensus of 6.992 billion.

Current operating profit before restructuring and other special items rose 3.1 percent to 2.402 billion euros.

Sanofi said it now expected adjusted 2008 earnings per share up around 8 percent at a constant 2007 euro/dollar rate of $1.371. It had previously forecast 7 percent.

 

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