Sanofi-Aventis 3Q10

3Q Revenues: $10.0 billion (-5%)

3Q Earnings: $3.2 billion (+5%)

YTD Revenues: $30.2 billion (+1%)

YTD Earnings: $9.7 billion (+5%)

Comments: Pharma sales dropped 4% for the quarter to $8.5 billion, due in part to generic Lovenox and Eloxatin in the U.S., and generic Plavix in Europe. YTD pharma sales were down 1% to $26.4 billion. Lovenox sales dropped 26% to $760 in 3Q10, with a 47% drop in U.S. sales and a 5% increase in non-U.S. markets. Vaccine revenues rose 9% in the quarter to $1.6 billion and are up 18% YTD to $3.8 billion. Pharma sales (not including diabetes products) in emerging markets were up 13% and 21% for the quarter and YTD, respectively, to $3.0 billion and $9.0 billion.