Aventis on track to achieve financial targets
Aventis achieved consolidated group sales of Euro 8.622bn (US$9.77bn) for the first half of 2003 compared with €11.304bn ($12.81bn) in the same period a year ago.
Aventis achieved consolidated group sales of Euro 8.622bn (US$9.77bn) for the first half of 2003 compared with Euro 11.304bn ($12.81bn) in the same period a year ago.
The sales decline was mainly due to the divestment of Aventis CropScience and Aventis Animal Nutrition during the first half of 2002 and the weakening of some currencies against the euro, the company says.
Sales of the core business (prescription drugs, human vaccines, 50% equity interest in the animal health joint venture Merial, and corporate activities) on an activity basis (excluding currency translation effects) rose by 6.9% to Euro 4.17bn ($4.73bn) in the second quarter and by 5.2% to Euro 8.14bn ($9.22bn) in the first half of 2003.
In the second quarter, Allegra and Lovenox performed in line with 2003 objectives: Allegra/Telfast global and US sales activity was up 8.6%, while Lovenox/Clexane global sales activity rose 21.3%, and US sales by 18.5%.
Taxotere sales were up 25%, increasingly used in treating breast and lung cancer; sales of Delix/Tritace climbed by 17.3%, and the products is set to become the fourth Aventis blockbuster in 2003. Lantus is now the US insulin market leader with sales up 81%, and human vaccines sales rose 23.7%, driven by strong performance in US market.
'Aventis remains on track to achieve its full-year growth targets for the core business: high single-digit percentage sales activity growth and earnings per share growth in the mid to high teens,' said Igor Landau, chairman of the management board. 'Our strategic brands are delivering very strong growth, particularly our newer products such as the long-acting insulin Lantus and the osteoporosis treatment Actonel, while our human vaccines business continues to build on its global leadership position.
'We are making good progress on our pipeline. In the second quarter, the rapid-acting insulin glulisine, was submitted for regulatory approval in the US and EU, and three other new products in key therapeutic areas are planned for regulatory submission this year,' he added. Three new indications for Taxotere are also likely to be submitted for regulatory approval in the US and EU.