Sanofi-Aventis 3Q09

3Q Revenues: $10.8 billion (+8%)

3Q Earnings:$3.3 billion (+16%)

YTD Revenues: $32.0 billion (+7%)

YTD Earnings: $6.7 billion (+20%)

Comments: Pharmaceutical sales were up 6% to $9.3 billion in the quarter and YTD sales rose 4% to $28.5 billion. Exchange rates favorably effected results by 2% and 3%, respectively. Lovenox and Lantus sales reached $1.1 billion, up 14% and 22%, respectively. Plavix sales were $968.9 million (+4%). Apidra sales were up 32% in the quarter to $49.6 million. Sales of Eloxatin were $281.6 million (-44%) due to generic competition. The company launched Multaq, an anti-arrhythmic, in the U.S. with sales of $19.0 million. Human Vaccines revenue rose 5% to $1.5 billion, driven by the performance of Pentacel, Pentaxim and Menactra, as well as the first H1N1 shipments.

Eli Lilly and Co. has opened its new Biotechnology Center in San Diego, as part of its strategy to develop more biopharmaceuticals. The center will focus on discovering, engineering and conducting Phase I and II trials on potential biologic medicines, with an emphasis on cancer, diabetes and autoimmune diseases.

"We are moving full speed ahead toward building a biotechnology powerhouse," said John Lechleiter, Ph.D., Lilly chairman and chief executive officer. "The science, technology and talent at our new center in San Diego will help bring novel biotech medicines to patients faster and more efficiently, and reinforces Lilly's commitment and contributions to San Diego's burgeoning bioscience industry."

The facility is located within a life science hub near the University of California, San Diego and other biomedical research institutes. Lilly, as part of its FIPNet strategy, plans to leverage external resources in an effort to advance its pipeline.

Approximately 200 scientists are based at the center, more than half from Applied Molecular Evolution (AME), a wholly-owned Lilly subsidiary that discovers, engineers and develops biotechnology-based therapies from human proteins. The center is also the work base for scientists from discovery chemistry research and technology (DCRT), a division within Lilly that includes scientists from SGX Pharmaceuticals, which Lilly acquired in 2008.

"We are optimizing the synergies between AME and DCRT-San Diego by co-locating them," said Tom Bumol, Ph.D., vice president of biotechnology discovery research at Lilly and head of the new West Coast site. "We in the scientific community have only scratched the surface of what is possible for biologic drug design, and collaborations such as this taking place at our new center will help lead to the next generation of biotechnology-based treatments for patients."

R. Todd Joyce has been named senior vice president and chief financial officer of Watson Pharmaceuticals, effective immediately. Mr. Joyce succeeds Mark W. Durand, who left the company for personal reasons. Mr. Joyce has served as acting principal financial officer since July 27, 2009, when Mr. Durand took a leave of absence.

"I, the Board of Directors and the senior management team wish to thank Mark for his service to the Company. We appreciate this was a difficult decision for him, and wish him well in the future," said Paul Bisaro, Watson's president and chief executive officer. "We are fortunate that Todd has agreed to become our new CFO. Todd's financial expertise and his history within the organization will enable him to seamlessly perform these duties, and to continue the good work begun by Mark during his tenure. In addition, Todd's international experience will be important as we continue to expand globally, and particularly in the integration of Watson and Arrow Group following the anticipated close of the Arrow acquisition later this year."

Mr. Joyce joined the company in 1997 as corporate controller, and was named vice president, corporate controller and treasurer in 2001. Later, Mr. Joyce served as interim principal financial officer. Previously, he served as vice president of tax, and vice president of tax and finance at ICN Pharmaceuticals. Prior to ICN, Mr. Joyce served as a CPA for Coopers & Lybrand and Price Waterhouse.

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