CHAPTER 1 ABOUT THIS PROFILE 2
Executive summary 2
Quarterly news update 2
Company introduction 2
Company sales 2
Company financials 2
Key products and competitors 3
Data sourcing 3
Sales data 3
Analyst consensus 3
CHAPTER 2 EXECUTIVE SUMMARY 4
Key findings 4
Prescription pharmaceutical sales performance, 2001-13 5
Financial performance, 2001-13 6
Sanofi-Aventis: PharmaVitae forecasts at a glance 7
Strategic insight 8
Introduction 8
What has the acquisition achieved? 8
Dilution of exposure to patent expiry risk across blockbuster portfolio 11
Broadening of therapeutic coverage 12
Creation of industry leading player in the global thrombosis market 13
Expansion of US market presence & balanced geographic focus 15
Diversified portfolio - particular strength in vaccines 17
SWOT analysis 19
Strengths 19
Weaknesses 21
Opportunities 21
Threats 23
CHAPTER 3 QUARTERLY NEWS UPDATE 27
Product developments 27
Deals and alliances 28
Product deals 28
Technology deals 30
M&A activity 32
Company announcements 33
Future product milestones 35
CHAPTER 4 COMPANY INTRODUCTION 38
Key findings 38
Background 39
M&A history 40
Sanofi-Synthélabo 40
Aventis 40
Sanofi-Aventis merger 41
M&A strategy 41
Increase US market presence 42
Therapy area diversification 42
Patent risk dilution 42
Creation of thrombotic powerhouse 43
Current corporate structure 43
Subsequent M&A activity 44
Zentiva 44
Acambis 45
CHAPTER 5 COMPANY SALES 46
Key findings 46
Prescription pharmaceutical sales and growth rate analysis, 2001-13 47
Product analysis 49
Product analysis, 2001-07 49
Product analysis, 2007-13 52
Therapy area analysis 55
Therapy area analysis, 2001-07 56
Therapy area analysis, 2007-13 59
Therapy area focus, 2001-13 62
Geographic analysis 63
Geographic analysis, 2001-07 64
Geographic analysis, 2007-13 65
Geographic focus, 2001-13 67
Launch/core/expiry analysis 69
Explanation of launch/core/expiry analysis 69
Launch analysis, 2007-13 70
Core analysis, 2007-13 71
Expiry analysis, 2007-13 72
Launch/core/expiry configuration, 2007-13 73
Molecule type analysis 74
Molecule type analysis, 2001-07 75
Molecule type analysis, 2007-13 76
Externalization analysis 79
Externalization analysis, 2001-07 80
Externalization analysis, 2007-13 82
CHAPTER 6 COMPANY FINANCIALS 84
Key findings 84
Reconciliation between PharmaVitae-formatted prescription pharma sales and company-reported total sales, 2001-07 85
Financial statements, 2001-07 86
Profit and loss account, 2001-07 86
Balance sheet, 2001-07 88
Operating costs and profit analysis 90
Operating costs and profit analysis, 2001-07 91
Operating cost ratio and profit margin analysis, 2001-07 92
Operating cost ratio and profit margin analysis, 2007-13 94
Operating costs and profit analysis, 2007-13 96
Return on capital employed analysis 97
Capital employed analysis, 2001-07 98
Return on capital employed (RoCE) analysis, 2001-07 100
Market capitalization analysis 103
Market capitalization analysis, 2001-07 103
Total shareholder returns analysis, 2001-07 105
CHAPTER 7 KEY PRODUCTS AND COMPETITORS 107
Key findings 107
Overview 108
Hematology 109
Lovenox 109
Overview 110
Sales forecast 111
Product overview and competitive positioning 111
Generics players continue to eye Lovenox 113
Plavix 117
Overview 117
Sales forecast 118
Product overview and competitive positioning 118
Emergence of generic competition in EU market 120
Idrabiotaparinux 121
Overview 121
Sales forecast 122
AVE-5026 123
Overview 123
Sales forecast 124
Endocrine, metabolic and genitourinary disorders 125
Lantus 125
Overview 126
Sales forecast 127
Product overview and competitive positioning 127
CNS 130
Stilnox/Ambien 130
Overview 131
Sales forecast 132
Product overview and competitive positioning 132
Impact of generic competition... 133
...and launch of Ambien/Stilnox CR in US market 133
Datamonitor recommends against launch of Ambien CR in Europe 135
Eplivanserin 136
Overview 136
Sales forecast 137
Product overview 137
Copaxone 139
Overview 139
Sales forecast 140
Product overview and competitive positioning 140
EU sales profile potentially boosted by new clinical findings 141
Competitive challenges 141
Taxotere 142
Overview 142
Sales forecast 143
Product overview and competitive positioning 143
Robust position in breast cancer market 144
More competition in NSCLC market 144
Rapid uptake in prostate cancer market 145
Also approved in gastric cancer 145
Most recent approval in head & neck cancer 146
Future revenue growth outlook 146
Eloxatin 147
Overview 147
Sales forecast 148
Product overview and competitive positioning 148
Potential for indication broadening 149
Infectious diseases 150
Vaccines 150
Overview 150
Sales forecast 151
CHAPTER 8 APPENDIX 152
R&D pipeline 152
Abbreviations 154
Exchange rates 155
List of Tables
Table 1: Sanofi-Aventis - PharmaVitae forecasts at a glance 7
Table 2: Sanofi-Aventis key product developments, Q1-Q3 2008 27
Table 3: Sanofi-Aventis product deals and alliances, Q1-Q3 2008 28
Table 4: Sanofi-Aventis technology deals and alliances, Q1-Q3 2008 30
Table 5: Sanofi-Aventis M&A activity, Q1-Q3 2008 32
Table 6: Sanofi-Aventis company announcements, Q1-Q3 2008 33
Table 7: Sanofi-Aventis future product milestones, 2008-10 35
Table 8: Sanofi-Aventis product portfolio overview ($m), 2001-07 49
Table 9: Sanofi-Aventis product portfolio overview ($m), 2007-13 52
Table 10: Sanofi-Aventis product portfolio overview ($m), 2001-07 56
Table 11: Sanofi-Aventis product portfolio overview ($m), 2007-13 59
Table 12: Sanofi-Aventis portfolio overview by geographic region ($m), 2001-07 64
Table 13: Sanofi-Aventis portfolio overview by geographic region ($m), 2007-13 65
Table 14: Sanofi-Aventis launch portfolio overview ($m), 2007-13 70
Table 15: Sanofi-Aventis core portfolio overview ($m), 2007-13 71
Table 16: Sanofi-Aventis expiry portfolio overview ($m), 2007-13 72
Table 17: Sanofi-Aventis portfolio overview by molecule type ($m), 2001-07 75
Table 18: Sanofi-Aventis product portfolio overview by molecule type ($m), 2007-13 76
Table 19: Sanofi-Aventis product portfolio overview by source ($m), 2001-07 80
Table 20: Sanofi-Aventis product portfolio overview by source ($m), 2007-13 82
Table 21: Total Sanofi-Aventis sales by business unit ($m), 2001-07 85
Table 22: Sanofi-Aventis profit and loss account ($m), 2001-07 86
Table 23: Sanofi-Aventis balance sheet ($m), 2001-07 88
Table 24: Sanofi-Aventis operating revenue/cost analysis ($m), 2001-07 91
Table 25: Sanofi-Aventis operating cost ratio analysis (% of total revenues), 2001-07 92
Table 26: Sanofi-Aventis operating cost ratio analysis (% of total revenues), 2007-13 94
Table 27: Sanofi-Aventis operating revenue/cost analysis ($m), 2007-13 96
Table 28: Sanofi-Aventis capital employed ($m), 2001-07 98
Table 29: Sanofi-Aventis EBIT return on capital employed ($m), 2001-07 100
Table 30: Sanofi-Aventis EBIT pre-tax return/Capital employed driver analysis (%), 2001-07 101
Table 31: Sanofi-Aventis market capitalization ($ billion), 2001-07 103
Table 32: Sanofi-Aventis total shareholder returns (annual %), 2001-07 105
Table 33: Sanofi-Aventis Key products overview 108
Table 34: Lovenox: overview 110
Table 35: Lovenox: sales forecast ($m), 2007-13 111
Table 36: Plavix: overview 117
Table 37: Plavix: sales forecast ($m), 2007-13 118
Table 38: Idrabiotaparinux: overview 121
Table 39: Idrabiotaparinux: sales forecast ($m), 2007-13 122
Table 40: AVE-5026: overview 123
Table 41: AVE-5026: sales forecast ($m), 2007-13 124
Table 42: Lantus: overview 126
Table 43: Lantus: sales forecast ($m), 2007-13 127
Table 44: Stilnox/Ambien: overview 131
Table 45: Stilnox/Ambien: sales forecast ($m), 2007-13 132
Table 46: Eplivanserin: overview 136
Table 47: Eplivanserin: sales forecast ($m), 2007-13 137
Table 48: Copaxone: overview 139
Table 49: Copaxone: sales forecast ($m), 2007-13 140
Table 50: Taxotere: overview 142
Table 51: Taxotere: sales forecast ($m), 2007-13 143
Table 52: Eloxatin: overview 147
Table 53: Eloxatin: sales forecast ($m), 2007-13 148
Table 54: Vaccines: overview 150
Table 55: Vaccines: sales forecast ($m), 2007-13 151
Table 56: Sanofi-Aventis's R&D pipeline (Phase I-registration) 152
Table 57: Exchange rates, 2007 155
List of Figures
Figure 1: Sanofi-Aventis prescription pharmaceutical performance, sales ($m) and growth rate (%), 2001-13 5
Figure 2: Sanofi-Aventis' financial performance ($m), 2001-13 6
Figure 3: Forecast change in Big Pharma status by revenues ($m), 2007-13 9
Figure 4: Net sales growth contributions from Sanofi-Synthélabo and Aventis portfolio components ($m), 2005-07 & 2007-13 10
Figure 5: Forecast retention of hematology revenues via new product launches to counter declining sales growth for established brands ($m), 2007-13 14
Figure 6: Combined net sales growth contribution of vaccine/therapeutic protein products versus small molecule products ($m), 2007-13 17
Figure 7: Sanofi-Aventis SWOT analysis 19
Figure 8: Current corporate structure 44
Figure 9: Sanofi-Aventis prescription pharmaceutical performance, sales ($m) and growth rate (%), 2001-13 47
Figure 10: Sanofi-Aventis key sales growth driver & resistors ($m), 2001-07 51
Figure 11: Sanofi-Aventis key sales growth drivers & resistors ($m), 2007-13 54
Figure 12: Sanofi-Aventis prescription pharmaceutical sales by therapy area ($m), 2001-13 55
Figure 13: Sanofi-Aventis prescription pharma sales by therapy area (% of total), 2001-13 62
Figure 14: Sanofi-Aventis prescription pharmaceutical sales by geographic region ($m), 2001-13 63
Figure 15: Sanofi-Aventis growth drivers and resistors by geographic region ($m), 2001-07 64
Figure 16: Sanofi-Aventis drivers and resistors by geographic region ($m), 2007-13 66
Figure 17: Sanofi-Aventis prescription pharmaceutical sales by geographic region (% of total), 2001-13 67
Figure 18: Sanofi-Aventis launch/core/expiry configuration ($m), 2007-13 73
Figure 19: Sanofi-Aventis prescription pharmaceutical sales by molecule type ($m), 2001-13 74
Figure 20: Sanofi-Aventis growth drivers and resistors by molecule type ($m), 2007-13 77
Figure 21: Sanofi-Aventis prescription pharmaceutical sales by source ($m), 2001-13 79
Figure 22: Sanofi-Aventis growth drivers and resistors by source ($m), 2001-07 81
Figure 23: Sanofi-Aventis growth drivers and resistors by source ($m), 2007-13 82
Figure 24: Sanofi-Aventis operating revenue/cost analysis ($m), 2001-13 90
Figure 25: Sanofi-Aventis operating cost ratio analysis (% of total revenues), 2001-13 95
Figure 26: Sanofi-Aventis return on capital employed, EBIT margin and capital turnover, 2001-07 97
Figure 27: Return on capital employed formula 101
Figure 28: Sanofi-Aventis market capitalization ($ billion), 2001-07 104
Figure 29: Sanofi-Aventis total shareholder returns vs. S&P 500 ($m), 2001-07 106