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Sanofi-Aventis gets bullish on booming vax sales
Sanofi-Aventis has been a big winner in the race to capitalize on the swine flu pandemic with a new vaccine, and today it tempted investors with plans to double its vaccine sales by 2013. Sanofi also echoed earlier remarks that it may turn to acquisitions to help bolster its vaccine business.
In an investor presentation earlier today, Sanofi projected that it will earn $5.76 billion in vaccine income in 2010 and added that H1N1 vaccine sales would contribute $500 million to its earnings for the fourth quarter of this year. And Wayne Pisano, who runs Sanofi Pasteur, forecast that the global vaccine market will hit 23 billion euros by 2013.
Sanofi has been one of the most aggressive of the multi-national pharma companies. CEO Chris Viehbacher (photo), hired in late 2008, has been quick to shed lackluster development programs while striking new deals to help feed future sales growth.
- here's the report from Reuters
- check out the Dow Jones story
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