Q3 2008: EUR 1.47, up 5.0% --> up 15.6% in U.S. dollars(2)
First 9 months of 2008: EUR 4.24, up 3.4% --> up 17.5% in U.S. dollars(2)
BRIDGEWATER, N.J., Oct. 31 /PRNewswire-FirstCall/ -- In order to give a representation of our underlying economic performance, we present and explain an adjusted(1) income statement. We also report adjusted net income and adjusted EPS (excluding selected items) in U.S. dollars(2) in order to facilitate comparisons with the majority of major pharmaceutical groups. The consolidated income statement for the first nine months of 2008 is provided in Appendix 5. Consolidated net income for the first nine months of 2008 was EUR 3,669 million, compared with EUR 4,510 million for the first nine months of 2007.
Good third-quarter performance
* Net sales: EUR 6,853m, up 5.5% on a comparable basis (down 2.4%
on a reported basis)
-- Quarterly growth ahead of the pharmaceutical industry
-- Good performance from the Top 15 (up 7.3%), especially Lantus(R)
(up 29.1%)
-- Leading supplier of influenza vaccines in the USA, and launch
of Pentacel(R)
-- 11.5% sales growth in the United States
* Operating income - current(1) up 1.2%, or 14.0% excluding the effect
of exchange rates
-- An improvement of 0.9-point in the ratio of selling and General
expenses to net sales, to 24.1%
* Adjusted net income excluding selected items: EUR 1,923m (up 2.1%),
and EPS EUR 1.47 (up 5.0%)
Acquisitions
* Completion of acquisitions of Acambis (vaccines) and Symbion
(nutraceuticals/OTC, Australia)
* Improved offer for Zentiva, with the unanimous backing of Zentiva's
Board of Directors
Regulatory Events
* Multaq(R) (dronedarone) assigned priority review status in the United
States
* October 23, 2008: recommendation to suspend the marketing authoriz
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