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Sanofi-Aventis S.A.
SNY.NISIN: US80105N1054SEDOL: 2964557 |
Rating: HOLD |
Target Price: 27.24 USD |
Investment Horizon: 6 to 12 months |
1Q 09 News Alert
Sanofi-Aventis S.A. (Sanofi-Aventis) reported modest growth in 1Q 09 revenues, higher than our estimate. Furthermore, operating and net performance also exceeded our expectations in 1Q 09. We believe the company will be able to support its top-line growth over the next 2 years as the company has approximately 25 drugs in advanced stages of development. We maintain our neutral…
4Q 08 & FY 2008 Update Report
Sanofi-Aventis continued to experience subdued revenue growth in 4Q 08; negatively impacted by generic competition to its top selling drugs. We believe this trend will continue over the next 2 years until the company’s R&D;pipeline launches new drugs with better growth potential and patent protection. Although we believe the company has a broad R&D;pipeline, with approximately 27 drugs in…
Company News Alert
On 25 February 2009, Sanofi-Aventis SA (Sanofi-Aventis) announced the fulfilment of terms and conditions for the acquisition of Zentiva NV (Zentiva). Final settlement will take place on 11 March 2009, after which Sanofi-Aventis will hold approximately 94% of voting rights of Zentiva. This acquisition is expected to strengthen Sanofi-Aventis’ generics portfolio, and provide an opportunity for expansion in emerging markets. Zentiva’s acquisition supports our positive outlook…
4Q 08 & FY 2008 News Alert
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Sanofi-Aventis S.A. (Sanofi-Aventis) reported marginal y-o-y increase in 4Q 08 revenues, broadly in line with our estimate. However, net performance was significantly higher than our expectations in 4Q 08. Considering the company has 42 drugs in advanced development stages, we believe the company will be able to support its top-line growth over the next 2 years. Moreover, the acquisition of Zentiva NV (Zentiva)...
Company News Alert
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On 04 February 2009, Sanofi-Aventis SA (Sanofi-Aventis) announced the European Commission (EC) has cleared its acquisition plan of Zentiva NV (Zentiva). We believe Sanofi-Aventis, with its strong cash flow position, may strongly pursue a controlling stake in Zentiva through a revised bid to secure access to Zentiva’s generic capabilities…
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