Also in February 2008, sanofi pasteur announced the signing of an
agreement with Statens Serum Institut for the development and marketing of
a new tuberculosis vaccine.
Net sales by geographic region
EURO million Q1 2008 net sales Change on a comparable basis
Europe 3,087 -0.7%
United States 2,170 -2.8%
Other Countries 1,680 +9.2%
TOTAL 6,937 0.8%
In Europe, the top line was adversely affected by a decline in net sales in France and Germany. The introduction of generics of Eloxatin(R) pared approximately 1.4% off growth for the period.
Net sales in the United States were 2.8% lower than in the first quarter of 2007, when Ambien(R) IR was not yet facing competition from generics. Excluding the impact of these generics, sales growth in the United States was 14.7%, in line with the performance recorded in the fourth quarter of 2007.
Net sales in the Other Countries region rose by 9.2%. Growth in the BRIC-M countries reached 12.5%.
2008 first-quarter adjusted consolidated income statement
In the first quarter of 2008, sanofi-aventis generated net sales of EURO 6,937 million, down 3.3% on a reported basis (0.8% on a comparable basis).
Gross profit was EURO 5,332 million. Other revenues rose by 10.9% to EURO 284 million, reflecting the strong performance of Plavix(R) in the United States. The ratio of cost of sales to net sales was 27.2%, 1.2 points higher than in the first quarter of 2007 (when Ambien(R) IR was not yet facing competition from generics).
Research and development expenses increased by 0.7% (or 4% excluding the effect of exchange rates).
Cost control led to a further reduction in the ratio of selling and
general expenses to net sales, which fell to 25.
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