Adjusted net income excluding selected items, was EURO 1,883 million, 1.4% lower than the 2007 first-quarter figure (EURO 1,909 million), while adjusted EPS excluding selected items was EURO 1.43, 1.4% up on the 2007 first-quarter figure (EURO 1.41).
Expressed in U.S. dollars(1), adjusted net income excluding selected items was $2,825 million, 12.9% up on the 2007 first-quarter figure, and adjusted EPS excluding selected items was $2.14, 15.7% up on the 2007 first-quarter figure.
Net debt stood at EURO 4 billion at the end of the first quarter of 2008, compared with EURO 4.2 billion at the end of 2007, after the repurchase of 17.95 million sanofi-aventis shares for a total of EURO 0.9 billion. As of April 15, 2008, the total number of shares acquired under the share repurchase program stood at 51.4 million. The Board of Directors, at its meeting of April 29, 2008, decided to cancel all these shares.
Barring major adverse events, sanofi-aventis expects 2008 full-year adjusted EPS excluding selected items to grow around 7%, calculated at constant 2007 EURO/dollar parity (1.371). Sensitivity to the EURO/dollar exchange rate is estimated at 0.5% of growth for a 1-cent movement in the exchange rate.
Research and Development
Eplivanserin : Sanofi-aventis announced today that the GEMS Phase III study shows that the 5-HT2A antagonist eplivanserin in development for the treatment of insomnia characterized by sleep maintenance difficulties/night- time awakenings significantly reduces WASO (Wake time After Sleep Onset) and the number of night-time awakenings reported by the patient at 6 and 12 weeks of treatment, versus placebo. An improvement of the quality of sleep was also observed in the study.
These results confirm those of the EPLILONG study (phase III study
conducted in similar conditions), which also showed that eplivanserin
significantly reduces WASO and the number of night
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