Aventis cautious as growth slows

pharmafile | October 24, 2003 | News story | |   

Aventis has reined in its 2003 forecasts and warned investors that the pace of its growth would slow to a "high single digit" increase.

The company increased profits from its core business by 28% to $2.1 billion in 2002 but this year will face cheaper competition for its main allergy treatment Allegra as Schering-Plough's rival treatment Claritin begins to be sold as an over-the-counter drug.

Igor Landau, Chairman of the Management Board, said 2002 was a "very successful year for Aventis in a challenging environment.

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"For 2003 and beyond, the pharmaceutical industry will continue to face several challenges, such as additional healthcare cost-containment efforts and more demanding approval procedures for new products".

Aventis could expect growth for 2003 and 2004 in the high single digits, Mr Landau said, as the market grapples with the impact of cost-containment measures in several key European countries.

In 2002, Aventis' sales were led by its top selling drug Allegra, with sales up 22% to $2.2 billion, blood-thinning drug Lovenox, which increased sales by 13% to $1.7 billion, and cancer treatment Taxotere, which expanded its sales by 32% to $1.2 billion.

The company aims to launch five new products between now and 2005. These are asthma treatment Alvesco; insulin glulisine (1964), a fast-acting insulin analogue for type 1 and 2 diabetes; chemotherapy adjuvant Genasense; Pentacel, a new combination vaccine for pertussis, diphtheria, tetanus, polio and Haemophilus influenzae type b; and meningococcal meningitis vaccine Menactra.

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