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sanofi-aventis: Strong Performance of Growth Platforms in Q1 2011


(4.0%)As % of net sales (14.3%)




(14.5%)Selling and general expenses











+5.1%As % of net sales





(23.3%)Other current operating income/expenses







75Share of profit/loss of associates*






243Net income attributable to non-controlling interests



(78)Business operating income2,7422,802(2.1%)84393(78.6%)218196+11.2%(17)(21)3,0273,370(10.2%)As % of net sales41.7%43.5%14.0%41.6%36.7%38.2%38.9%42.7%Financial income and expenses(78)(45)Income tax expense(779)(898)Tax rate**28.5%28.4%Business net income2,1702,427(10.6%)As % of net sales27.9%30.7%Business earnings per share*** (in euros)1.661.86(10.8%)*   Net of tax

**  Determined on the basis of Business income before tax, associates, and non-controlling interests

*** Based on an average number of shares outstanding of 1,305.2 million in the first quarter of 2011 and 1,307.3 million in the first quarter of 2010(1) The results of operations of the Merial business previously presented as "held-for-exchange" were reclassified and included in income from continuing operations

in accordance with IFRS5 section 36, following the announcement to maintain Merial and Intervet/Schering-Plough as two separate organizations.Appendix 7: Reconciliation of Business net income to Net income attribut

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