First half: solid results in a difficult context - Plavix(R) recovers its position in the US, full impact expected in H2



    PARIS, France, Aug. 1 /CNW Telbec/ -

    
    -------------------------------------------------------------------------
    Adjusted net income(1) excluding selected items(2):
    ---------------------------------------------------
    Q2 2007: (euro)1,740 million (-3.2%), i.e. (euro)1.29 per share (-3.7%),
             or
             $2,346 million(3) (+3.9%), i.e. $1.74(3) per share (+3.6%)

    H1 2007: (euro)3,649 million (+4.1%), i.e. (euro)2.70 per share (+3.8%),
             or
             $4,850 million(3) (+12.6%), i.e. $3.59(3) per share (+12.2%)
    -------------------------------------------------------------------------

    In order to give a better representation of our underlying economic
performance, sanofi-aventis has decided to present and comment an adjusted(1)
income statement. The company has also decided to present its adjusted net
income and adjusted EPS, excluding selected items, in US Dollar(3) in order to
facilitate the comparison with the majority of large pharmaceutical groups.
The adjusted consolidated income statement for the first half of 2007 is
provided in the appendices. Consolidated net income for the first half of 2007
was (euro)2,665 million, compared with (euro)2,381 million for the first half
of 2006.

    2007 second-quarter net sales

    - Up 2.3% on a comparable basis (down 2.0% on a reported basis) at
      (euro)6,939 million
    - Up 7.1% excluding the impact of generics of Ambien(R) IR in the United
      States and Eloxatin(R) in Europe(4)
    - 14.8% growth in net sales for the Vaccines business

    Ongoing cost adaptation measures

    - Selling and general expenses down by 6.3% in the first half, equivalent
      to an improvement of 2 points of the SG&A to net sales ratio, when
      compared to first half 2006.

    Main events of the quarter

    - Successful outcome to the Plavix(R) litigation in the United States,
      which has confirmed the validity and enforceability of U.S. patent
      covering the active ingredient until November 2011
    - Withdrawal of the Zimulti(R) application in the United States following
      a negative recommendation from the Advisory Committee of the FDA.
      Sanofi-aventis remains committed to making all efforts necessary to
      make Zimulti(R) available on the U.S. market.
    - Approval of the labeling update of Acomplia(R) in Europe and
      confirmation of the positive benefit-risk profile of the product except
      in patients suffering from ongoing major depression
    - Approval in the United States of the new antihistamine Xyzal(R), to be
      marketed by sanofi-aventis and UCB from the fall of 2007

    Share buyback program

    - The Board of Directors has authorized the company to purchase up to a
      maximum amount of 3 billion euros of its own shares before the next
      shareholders' meeting on May 14, 2008

    Confirmation of guidance on 2007 full-year adjusted EPS growth excluding
    selected items as disclosed on May 3rd 2007 (see page 13)

    2007 second-quarter and first-half net sales

    -------------------------------------------------------------------------
    Unless otherwise indicated, all sales growth figures in this press
    release are stated on a comparable basis(1).
    -------------------------------------------------------------------------

    Sanofi-aventis generated second-quarter net sales of (euro)6,939 million,
up 2.3%. Exchange rate movements had an unfavorable impact of 4.1 points,
approximately 70% of which related to the U.S. dollar. Changes in Group
structure had an unfavorable impact of 0.2 of a point. On a reported basis,
net sales fell by 2.0%.
    First-half net sales rose by 4.6% to (euro)14,116 million. Exchange rate
movements had an unfavorable impact of 4.4 points, around two-thirds of which
related to the U.S. dollar. Changes in Group structure had an unfavorable
impact of 0.2 of a point. After taking account of these effects, reported net
sales were stable.

    Net sales by business segment - Pharmaceuticals

    Second-quarter net sales for the pharmaceuticals business were (euro)6,320
million, an increase of 1.2%. Net sales of the top 15 products were up 2.5% at
(euro)4,294 million, representing 67.9% of pharmaceuticals net sales, as
opposed to 67.1% for the comparable period of 2006.
    First-half net sales for the pharmaceuticals business totaled (euro)12,930
million, a rise of 3.7%. Net sales of the top 15 products advanced by 6.4% to
(euro)8,777 million and represented 67.9% of pharmaceuticals net sales,
compared with 66.2% for the comparable period of 2006.
    Excluding the impact of the arrival of generics(3) of Ambien(R) IR in the
United States and Eloxatin(R) in Europe, the top 15 products would have
achieved growth of 10.7% in the second quarter and 11.3% in the first half.

    -------------------------------------------------------------------------
    (euro) million     Q2 2007 net   Change on a   H1 2007 net   Change on a
                             sales    comparable         sales    comparable
                                           basis                       basis
    -------------------------------------------------------------------------
    Lovenox(R)                 671         +15.5%        1,305         +11.8%
    -------------------------------------------------------------------------
    Plavix(R)                  632         +12.7%        1,201          +5.7%
    -------------------------------------------------------------------------
    Lantus(R)                  503         +26.1%          961         +26.6%
    -------------------------------------------------------------------------
    Taxotere(R)                474          +9.0%          923          +9.5%
    -------------------------------------------------------------------------
    Stilnox(R)/Ambien(R)/
     Ambien CR(TM)             252         -41.8%          858          +2.3%
    -------------------------------------------------------------------------
    Eloxatin(R)                380         -10.2%          773          -6.8%
    -------------------------------------------------------------------------
    Copaxone(R)                307         +20.4%          596         +19.0%
    -------------------------------------------------------------------------
    Aprovel(R)                 272         +10.1%          536          +8.9%
    -------------------------------------------------------------------------
    Allegra(R)                 198         +13.8%          399         +17.7%
    -------------------------------------------------------------------------
    Tritace(R)                 167         -30.7%          378         -18.9%
    -------------------------------------------------------------------------
    Amaryl(R)                  103          -8.8%          197         -14.0%
    -------------------------------------------------------------------------
    Xatral(R)                   85          -5.6%          167          -7.7%
    -------------------------------------------------------------------------
    Nasacort(R)                 87         +19.2%          166         +20.3%
    -------------------------------------------------------------------------
    Actonel(R)                  82          -8.9%          160          -9.6%
    -------------------------------------------------------------------------
    Depakine(R)                 81          +8.0%          157          +4.0%
    -------------------------------------------------------------------------
    TOTAL TOP 15             4,294          +2.5%        8,777          +6.4%
    -------------------------------------------------------------------------
    TOTAL TOP 15
     excl. Eloxatin(R)
     in Europe and
     excl. Ambien(R) IR
     in the USA
     (from April)            4,130         +10.7%        8,504         +11.3%
    -------------------------------------------------------------------------

    Second-quarter net sales of other pharmaceutical products were (euro)2,026
million, down 1.4% (against (euro)2,054 million(5) in Q2 2006). Restrictions
on indications for the antibiotic Ketek(R) resulted in a further decline in
the product's net sales in the period ((euro)9 million, versus (euro)29
million(5) in the second quarter of 2006).
    First-half net sales of other pharmaceutical products fell by 1.6% to
(euro)4,153 million, versus (euro)4,219 million(5) in 2006 (net sales of  
Ketek(R) totaled (euro)39 million, compared with (euro)88 million in the first
half of 2006).

    Geographical split of consolidated net sales by product (Top 15)
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Q2 2007         Europe    Change   United     Change     Other    Change
    net sales                   on a   States       on a      coun-     on a
    ((euro) million)           compa-              compa-    tries     compa-
                               rable               rable               rable
                               basis               basis               basis
    -------------------------------------------------------------------------
    Lovenox(R)         188      +5.0%      415     +20.6%       68     +17.2%
    -------------------------------------------------------------------------
    Plavix(R)          431      +7.5%       64     +30.6%      137     +23.4%
    -------------------------------------------------------------------------
    Lantus(R)          151     +19.8%      302     +25.8%       50     +51.5%
    -------------------------------------------------------------------------
    Taxotere(R)        204      +9.1%      178      +5.3%       92     +16.5%
    -------------------------------------------------------------------------
    Stilnox(R)/
     Ambien(R)/
     Ambien CR(TM)      21     -12.5%      210     -46.0%       21      +5.0%
    -------------------------------------------------------------------------
    Eloxatin(R)         97     -35.8%      243      +5.2%       40      -2.4%
    -------------------------------------------------------------------------
    Copaxone(R)         81     +15.7%      210     +22.8%       16     +14.3%
    -------------------------------------------------------------------------
    Aprovel(R)         209      +6.1%        -         -        63     +26.0%
    -------------------------------------------------------------------------
    Allegra(R)          18      -5.3%      116     +13.7%       64     +20.8%
    -------------------------------------------------------------------------
    Tritace(R)         121      -9.7%        0        ns        46     -54.9%
    -------------------------------------------------------------------------
    Amaryl(R)           32     -33.3%        2     -50.0%       69     +13.1%
    -------------------------------------------------------------------------
    Xatral(R)           42     -27.6%       28     +27.3%       15     +50.0%
    -------------------------------------------------------------------------
    Nasacort(R)         13      -7.1%       65     +22.6%        9      50.0%
    -------------------------------------------------------------------------
    Actonel(R)          52     -17.5%        -         -        30     +11.1%
    -------------------------------------------------------------------------
    Depakine(R)         54      +3.8%        -         -        27     +17.4%
    -------------------------------------------------------------------------



    -------------------------------------------------------------------------
    H1 2007         Europe    Change    United    Change     Other    Change
    net sales                   on a    States      on a      coun-     on a
    ((euro) million)           compa-              compa-    tries     compa-
                               rable               rable               rable
                               basis               basis               basis
    -------------------------------------------------------------------------
    Lovenox(R)         374      +6.3%      800     +14.1%      131     +14.9%
    -------------------------------------------------------------------------
    Plavix(R)          854      +5.2%       86     -21.8%      261     +22.0%
    -------------------------------------------------------------------------
    Lantus(R)          299     +17.3%      572     +28.5%       90     +52.5%
    -------------------------------------------------------------------------
    Taxotere(R)        402     +11.4%      346      +4.8%      175     +15.1%
    -------------------------------------------------------------------------
    Stilnox(R)/
     Ambien(R)/
     Ambien CR(TM)      43     -10.4%      765      +2.1%       50     +19.0%
    -------------------------------------------------------------------------
    Eloxatin(R)        206     -30.2%      488      +7.5%       79      -1.3%
    -------------------------------------------------------------------------
    Copaxone(R)        159     +16.9%      407     +20.1%       30     +15.4%
    -------------------------------------------------------------------------
    Aprovel(R)         418      +5.6%        -         -       118     +22.9%
    -------------------------------------------------------------------------
    Allegra(R)          35      +6.1%      208     +16.9%      156     +21.9%
    -------------------------------------------------------------------------
    Tritace(R)         239     -10.8%        1     -88.9%      138     -27.0%
    -------------------------------------------------------------------------
    Amaryl(R)           64     -37.9%        4     -42.9%      129      +8.4%
    -------------------------------------------------------------------------
    Xatral(R)           86     -28.3%       53     +35.9%       28     +27.3%
    -------------------------------------------------------------------------
    Nasacort(R)         26       8.3%      125     +23.8%       15      15.4%
    -------------------------------------------------------------------------
    Actonel(R)         103     -18.9%        -         -        57     +14.0%
    -------------------------------------------------------------------------
    Depakine(R)        107       0.0%        -         -        50     +13.6%
    -------------------------------------------------------------------------


    Comments by product
    -------------------------------------------------------------------------

    Net sales of Lovenox(R), the leading low molecular weight heparin on the
market, rose by 15.5% in the quarter to (euro)671 million. Growth of the
product was driven by its increased use in medical prophylaxis in the United
States, where net sales of Lovenox(R) rose by 20.6% to (euro)415 million.
Growth was also sustained in the other countries, where net sales were 17.2%
higher at (euro)68 million.
    In May, following a priority review, the FDA approved a supplemental new
drug application for Lovenox(R) in the treatment of patients with acute
ST-segment elevation myocardial infarction (STEMI). Application for approval
for the same indication was filed in Europe in the last quarter of 2006. This
new indication is expected to further enhance the superiority of Lovenox(R)
over non-fractioned heparins.
    The results of the EXCLAIM study, presented in July at the XXIst Congress
of the ISTH (International Society on Thrombosis and Haemostasis) in Geneva,
showed the benefit of extended prophylaxis in acutely ill medical patients
with reduced mobility. The results demonstrated that 5 weeks of
thrombo-prophylaxis with Lovenox(R) was more effective than a 10-day
treatment, giving a statistically significant 44% reduction in venous
thromboembolism events.
    Following expiry of the Ambien(R) IR patent in the United States on April
 20, generics of the product soon became widely available, causing a drop in
total second-quarter net sales to (euro)67 million, compared with       
(euro)308 million in the second quarter of 2006. Ambien CR(TM) posted
second-quarter net sales of $190 million in the United States, becoming the
leading brand of prescription sleeping drug. First-half net sales of Ambien
CR(TM) were $385 million.
    In Japan, sales of Myslee(R) (not consolidated by sanofi-aventis) were
16.2% higher in the second quarter at (euro)31 million. First-half net sales
rose by 12.6% to (euro)55 million.
    Taxotere(R) once again posted strong growth in the "Other countries"
region during the quarter. In Europe, the product recorded growth of 9.1%,
while net sales in the United States rose by 5.3%.
    In June, Taxotere(R) was granted two priority reviews:

    - in Japan, for the treatment of metastatic hormono-refractory prostate
      cancer;
    - in the United States, in association with cisplatin and 5-fluorouracil
      for the induction (neo-adjuvant) therapy of patients with
      locally-advanced squamous cell carcinoma of the head and neck prior to
      chemoradiotherapy and surgery.

    In Europe, Eloxatin(R), which is facing competition from generics in some
countries including Germany and the United Kingdom, recorded a 35.8% fall in
second-quarter net sales to (euro)97 million. In the United States, the
product - which is the market-leading colorectal cancer treatment both as
adjuvant and in the metastatic phase - reported a 5.2% increase in net sales
to (euro)243 million.
    The 6-year survival analysis in the MOSAIC study was presented in June at
the 43rd Annual Meeting of the American Society of Clinical Oncology (ASCO) in
Chicago. The results showed that FOLFOX4, an Eloxatin(R) based chemotherapy
regimen, significantly improved the overall survival of patients with
surgically resected stage III colon cancer when compared to standard
chemotherapy (5-FU/LV).
    Lantus(R), the world's leading insulin brand, continues to record
excellent performances in second-quarter. Net sales of the product advanced by
25.8% in the United States, 19.8% in Europe and 51.5% in the other countries.
SoloSTAR(R), a new disposable pen that can be used to administer Lantus(R)
and/or the rapid-acting insulin Apidra(R), has been gradually rolled out in
Europe since April. Lantus(R) SoloSTAR(R) is now being sold in France and
Germany, and has been very well received.
    In June, new data on Lantus(R) and Apidra(R) were presented at the 67th
Annual Scientific Sessions of the American Diabetes Association (ADA) in
Chicago:

    - a meta-analysis from a large-scale data set confirmed the superiority
      of the basal insulin Lantus(R) over insulin NPH with regard to the risk
      of hypoglycemia;
    - a new study showed that adding Apidra(R) (insulin glulisine) to a Basal
      insulin and Oral antidiabetic drug Therapy (BOT+ or Basal plus) may
      provide an effective treatment option for people with type 2 diabetes
      unable to control their blood sugar (HbA1C (greater than) 6.5%),
      despite good titration (fasting blood glucose (FBG) (less than) 120
      mg/dl), with BOT alone.

    Allegra(R) enjoyed a good first half, with a favorable pollen season in
Japan.
    In May, the FDA approved Xyzal(R), a new once-daily prescription
antihistamine for the relief of symptoms associated with seasonal and
perennial allergic rhinitis and for the treatment of uncomplicated skin
manifestations of chronic idiopathic urticaria in adults and children aged six
and over. Xyzal(R) will be marketed jointly by sanofi-aventis and UCB in the
United States from the fall of 2007.
    Second-quarter net sales of Tritace(R) were down 30.7% at
(euro)167 million mainly due to the introduction of generics in Canada.
    Acomplia(R) is now approved in 42 countries and marketed in 20 countries.
Net sales reached (euro)22 million in the second quarter and (euro)37 million
in the first half.
    On June 13, the Endocrinologic and Metabolic Drugs Advisory Committee of
the FDA issued a negative recommendation on the approval of rimonabant for use
in obese and overweight patients with associated risk factors. On June 29,
sanofi-aventis announced its decision to withdraw the new drug application for
rimonabant in the United States. Sanofi-aventis will work towards resubmitting
the application at a future date. Sanofi-aventis is confident in the positive
risk benefit ratio of rimonabant 20mg when used in the appropriate population,
and is committed to making all efforts necessary to make the product available
to patients in the U.S. market.
    In July, the Committee for Medicinal Products for Human Use (CHMP), after
re-evaluation, confirmed the positive benefit-risk profile of Acomplia(R) in
the indicated patient population and issued a positive opinion on the labeling
update in Europe. The product is now contra-indicated in patients with ongoing
major depressive illness and/or ongoing anti-depressive treatment.

    Worldwide presence(1) of Plavix(R) / Iscover(R):
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    (euro) million         Q2 2007   Change on a       H1 2007   Change on a
                                      comparable                  comparable
                                           basis                       basis
    -------------------------------------------------------------------------
    Europe                     452          +4.1%          900          +4.8%
    -------------------------------------------------------------------------
    United States              759          +2.6%        1,362          -2.1%
    -------------------------------------------------------------------------
    Other countries            205         +21.3%          388         +19.8%
    -------------------------------------------------------------------------
    TOTAL                    1,416          +5.4%        2,650          +3.0%
    -------------------------------------------------------------------------


    On June 19, 2007, the U.S. District Court for the Southern District of New
York upheld the validity and enforceability of U.S. patent covering
clopidogrel bisulfate, the active ingredient of Plavix(R), and issued a
permanent injunction enjoining Apotex from marketing its generic clopidogrel
bisulfate in the United States prior to the expiration of the patent. Apotex
had launched a generic clopidogrel bisulfate in August 2006, following which
the U.S. District Court for the Southern District of New York awarded
sanofi-aventis a temporary injunction on August 31, 2006 ordering Apotex to
halt further sales of its generic clopidogrel bisulfate, without however
ordering a recall of products already shipped. This injunction has been upheld
on appeal in December 2006.
    The main patent protection for this product has now been maintained in the
United States until patent expiration November 2011.
    In the second quarter, Plavix(R) posted sales of $1,019 million in the
United States, up 2.6%, reflecting the disappearance of the generic version
from the market at the end of the quarter. First-half sales of Plavix(R)
amounted to $1,809 million, a decrease of 2.1%.
    In Europe, second-quarter net sales of Plavix(R) were up 4.1% at (euro)452
million, still affected by parallel imports in Germany.
    In the other countries, growth in sales of Plavix(R) accelerated in the
second quarter to 21.3%, realizing net sales of (euro)205 million. In Japan,
the two-week limit on prescriptions imposed by the authorities was lifted in
May, and net sales reached (euro)12 million for the quarter and
(euro)16 million for the first half. In July, the Japanese authorities granted
a priority review to an application for the use of Plavix(R) in acute coronary
syndrome.

    Worldwide presence(1) of Aprovel(R)/ Avapro(R)/ Karvea(R):
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    (euro) million         Q2 2007   Change on a       H1 2007   Change on a
                                      comparable                  comparable
                                           basis                       basis
    -------------------------------------------------------------------------
    Europe                     233          +5.4%          460          +6.2%
    -------------------------------------------------------------------------
    United States              127          +2.4%          250          +8.2%
    -------------------------------------------------------------------------
    Other countries            106         +20.5%          199         +19.9%
    -------------------------------------------------------------------------
                  TOTAL        466          +7.6%          909          +9.5%
    -------------------------------------------------------------------------

    Second-quarter worldwide sales of Aprovel(R)/Avapro(R)/Karvea(R) were up
7.6% at (euro)466 million.
    Net sales of the product in the United States rose by 8.2% over the first
half.
    On April 18, the Cardio-Renal Advisory Committee of the FDA recommended
approval of Avalide(R) as an initial treatment for hypertension. Avalide(R) is
a fixed-dose combination of irbesartan and hydrochloro-thiazide that is
currently approved for the treatment of hypertension in patients with blood
pressure uncontrolled on monotherapy. If approved, the new indication for
Avalide(R) would be the first-line treatment for hypertension in patients who
are unlikely to obtain their blood pressure goals on monotherapy.

    Net sales by business segment - Human Vaccines

    Second-quarter consolidated net sales for the Human Vaccines business were
(euro)619 million, an increase of 14.8%.
    The figure for the quarter includes $113 million of H5N1 vaccine sales in
the United States, compared with $150 million in the second quarter of 2006.
    Results for the second quarter were supported by strong growth in sales of
pediatric combination vaccines and the oral polio vaccine. Sales of  
Adacel(TM) (adult and adolescent tetanus-diphtheria-pertusis booster),
launched in the United States in July 2005, reached (euro)51 million for the
quarter, an increase of 19.6%.
    Menactra(R) recorded a 73.9% rise in net sales for the quarter, to  
(euro)105 million.
    First-half consolidated net sales for the Human Vaccines business were
(euro)1,186 million, an increase of 15.4%.
    Construction of a new influenza vaccine manufacturing facility in the
United States was completed in July. This facility is due to be operational by
late 2008 or early 2009 once it has been licensed by the FDA, and will more
than double current annual production capacity at the site to over 100 million
doses of vaccines.
    In June, sanofi pasteur was awarded a $77.4 million contract by the U.S.
Department of Health and Human Services (HHS) to retrofit its existing
influenza vaccine manufacturing facility in the United States so that it is in
a state of readiness to switch to pandemic influenza vaccine manufacture when
requested by the HHS.
    Sanofi pasteur will contribute $25 million to the project. Work will start
as soon as the company's new U.S. influenza vaccine manufacturing facility is
licensed by the FDA and operational. Combining the capacities of the new
facility with that of the retrofitted facility should enable sanofi pasteur to
triple its current influenza vaccine capacity in the United States.

    -------------------------------------------------------------------------
    (euro) million         Q2 2007   Change on a       H1 2007   Change on a
                         net sales    comparable     net sales    comparable
                                           basis                       basis
    -------------------------------------------------------------------------
    Polio/Pertusis/
     Hib Vaccines              190         +39.7%          371         +17.8%
    -------------------------------------------------------------------------
    Adult Booster
     Vaccines                   94          +4.4%          219         +31.9%
    -------------------------------------------------------------------------
    Meningitis/Pneumonia
     Vaccines                  118         +45.7%          207         +46.8%
    -------------------------------------------------------------------------
    Travel & Other
     Endemics Vaccines          83         +23.9%          163         +14.0%
    -------------------------------------------------------------------------
    Influenza Vaccines          98         -30.5%          156         -26.1%
    -------------------------------------------------------------------------
    Other Vaccines              36         +50.0%           70         +34.6%
    -------------------------------------------------------------------------
                  TOTAL        619         +14.8%        1,186         +15.4%
    -------------------------------------------------------------------------


    Second-quarter sales at Sanofi Pasteur MSD, the joint venture with
Merck & Co in Europe, rose sharply on a reported basis (by 37.5%) to    
(euro)196 million, supported by the successful launch of Gardasil(R), which
achieved net sales of (euro)58 million.
    Gardasil(R) is marketed by Sanofi Pasteur MSD in 18 European countries. To
date, the authorities in Germany, France, Italy, Austria, Norway, Luxembourg,
Belgium, Switzerland, and the United Kingdom have recommended the vaccination
of girls (and in many cases, young women) against human papillomavirus.
    First-half sales at Sanofi Pasteur MSD amounted to (euro)345 million, up
20.4% on a reported basis. Net sales of Gardasil(R) over the period were
(euro)81 million. Sanofi Pasteur MSD sales are not consolidated by
sanofi-aventis.

    Net sales by geographic region

    -------------------------------------------------------------------------
    (euro) million         Q2 2007   Change on a       H1 2007   Change on a
                         net sales    comparable     net sales    comparable
                                           basis                       basis
    -------------------------------------------------------------------------
    Europe                   3,037          -0.7%        6,150          -1.0%
    ------------------------------------------------------------------------
    United States            2,352          +2.4%        4,844          +9.2%
    -------------------------------------------------------------------------
    Other countries          1,550          +8.5%        3,122          +9.7%
    -------------------------------------------------------------------------
                  TOTAL      6,939          +2.3%       14,116          +4.6%
    -------------------------------------------------------------------------


    In Europe, the impact of healthcare reforms (especially in France and
Germany) depressed sales, which fell by 0.7% in the second quarter and by 1.0%
over the first half. The introduction of Eloxatin(R) generics across Europe
accounted for approximately 1% of the first-half decline in the region's net
sales.
    In the United States, net sales rose by 2.4% in the second quarter, with
growth hampered by competition from generics of Ambien(R) IR following expiry
of the patent on April 20. Stripping out the effect of these generics, sales
growth in the United States would have been 14.9%.
    Sales rose by 9.2% over the first half, or by 15.7% if the impact of
Ambien(R) IR generics is excluded.
    In other countries, second-quarter net sales growth was 8.5%, driven by
Latin America, Asia and the Middle East. First-half net sales for the region
advanced by 9.7%.
    In Japan, sanofi-aventis has pursued its strategy to reinforce its
position by announcing the recovery of marketing rights of 7 products (of
which Rythmodan(R)- disopyramyde- arrhythmia and Amoban(R) -zopiclone-
hypnotic) from January 1st ,2008. These products are currently marketed by
Chugai and Mitsubishi.

    Adjusted consolidated income statement

    The adjusted consolidated income statement is presented in Appendix 3.
    Refer to Appendix 1 for a definition of "adjusted net income", and to
Appendix 4 for a reconciliation of the consolidated income statement to the
adjusted consolidated income statement.

    Second quarter of 2007

    Net sales generated by sanofi-aventis in the second quarter of 2007 fell
by 2.0% on a reported basis to (euro)6,939 million.
    Gross profit was (euro)5,390 million. The gross margin ratio was 77.7%,
compared with 78.4% for the second quarter of 2006. The drop in this ratio was
due to a fall in "Other revenues" (royalties) from (euro)358 million to  
(euro)291 million, mainly as a result of the effect of U.S. dollar exchange
rates on royalties from Plavix(R) and Avapro(R) in the United States and the
discontinuation of royalty income from Merial on fipronil. The ratio of cost
of sales to net sales improved by 0.2 of a point to 26.5%, despite the arrival
of generics of Ambien(R) IR in the United States from end April.
    Research and development expenses rose by 0.3% to (euro)1,101 million,
while selling and general expenses were 4.0% lower than in the second quarter
of 2006 at (euro)1,931 million, equivalent to 27.8% of net sales (versus 28.4%
for the comparable period of 2006).
    Other current operating income and expenses resulted in an income of
(euro)5 million, compared with (euro)49 million in the second quarter of 2006.
The 2007 second-quarter figure includes an expense of (euro)61 million
((euro)42 million after tax) related to the harmonization of the Group's
welfare and healthcare plans for retirees.
    Operating income - current(1) totaled (euro)2,329 million. Excluding the
effect of the harmonization of welfare and healthcare plans
((euro)61 million), operating income - current fell by 2.6%, and represented
34.4% of net sales (versus 34.7% in the comparable period of 2006).
    Net financial expense was (euro)39 million, compared with (euro)63 million
in the comparable period of 2006. Interest expense on debt was
(euro)55 million, against (euro)85 million in the second quarter of 2006.
    Income tax expense came to (euro)695 million, compared with
(euro)707 million in the second quarter of 2006. The reported tax rate was
30.7 %, against 29.7% for the comparable period of 2006.
    The share of profits from associates was stable at (euro)210 million
(versus (euro)212 million in the second quarter of 2006). The share of
after-tax profits from territories managed by BMS (primarily the United
States) under the Plavix(R) and Avapro(R) alliance was flat ((euro)136
million, versus (euro)139 million in the second quarter of 2006), reflecting
the discontinuation of a clopidogrel bisulfate generic in the United States
during the quarter and unfavorable currency effects. The contribution from
Merial increased, while the contribution from Sanofi Pasteur MSD was affected
by the launch costs of Gardasil(R).
    Minority interests totaled (euro)99 million, compared with         
(euro)93 million in the second quarter of 2006. This line includes the share
of pre-tax profits paid to BMS from territories managed by sanofi-aventis
((euro)93 million, against (euro)88 million in the second quarter of 2006).
    Adjusted net income was down 6.3% at (euro)1,678 million.
    Adjusted earnings per share (adjusted EPS) was (euro)1.24, 6.8% lower than
the 2006 second-quarter figure ((euro)1.33), based on an average number of
shares outstanding of 1,351.9 million in the second quarter of 2007 and
1,346.0 million in the second quarter of 2006.
    Excluding selected items (see Appendix 5), adjusted net income was  
(euro)1,740 million, 3.2% down on the 2006 second-quarter figure of     
(euro)1,797 million and adjusted EPS was (euro)1.29, 3.7% down on the 2006
second-quarter figure of (euro)1.34.
    Expressed in dollars(3) and excluding selected items, adjusted net income
was $2,346 million, 3.9% up on the 2006 second-quarter figure and adjusted EPS
was $1.74, 3.6% up on the 2006 second-quarter figure.

    First half of 2007

    In the first half of 2007, net sales generated by sanofi-aventis were
stable at (euro)14,116 million on a reported basis.
    Gross profit was (euro)10,959 million. The gross margin ratio was 77.6%,
against 78.0% for the comparable period of 2006. This fall was mainly due to
the effect of U.S. dollar exchange rates on royalties from Plavix(R) and
Avapro(R), the presence in the U.S. market of a generic of clopidogrel
bisulfate during the period and the discontinuation of royalty income on
fipronil.
    The ratio of cost of sales to net sales, which was helped by a favorable
product mix over the period, was 26.3% compared with 26.6% for the comparable
period of 2006.
    Research and development expenses totaled (euro)2,182 million, 1.8% higher
than in the first half of 2006 (around 5% excluding currency effects). Selling
and general expenses were down 6.3% at (euro)3,804 million, representing 26.9%
of net sales (versus 28.8% in the first half of 2006). This improvement
reflects measures implemented by sanofi-aventis in 2006, especially in France,
Germany and the United States. Selling expenses and general expenses each fell
by the same proportion over the period.
    Operating income - current rose by 3.6% to (euro)5,048 million,
representing 35.8% of net sales (versus 34.5% in the first half of 2006).
    Other operating income and expenses represented an expense of      
(euro)50 million, as opposed to an income of (euro)519 million in the first
half of 2006.
    In the first half of 2007, a restructuring charge of (euro)50 million
((euro)35 million after tax) was recognized for the restructuring plan begun
in France in 2006, while the first half of 2006 included (euro)553 million of
gains on disposal, mainly on the sale of the Exubera(R) rights         
((euro)460 million, (euro)384 million after tax) and of the residual stake in
Animal Health business ((euro)45 million, (euro)31 million after tax).
    Net financial expense was (euro)71 million, against (euro)93 million for
the comparable period of 2006. Interest expense on debt came to
(euro)111 million, compared with (euro)158 million in the first half of 2006.
    Income tax expense totaled (euro)1,290 million, compared with      
(euro)1,539 million in the first half of 2006, giving a reported tax rate of
26.2% (versus 29.0% in the first half of 2006). In 2007, this line included a
(euro)223 million gain relating to provisions for and settlements of tax
disputes, while the 2006 figure was influenced by the low income tax charge on
the Exubera(R) gain. The effective tax rate for 2007 is 30.7%.
    The cut in German tax rates effective from January 1, 2008, which should
reduce the Group's effective tax rate by approximately 1% in 2008, will have
an initial effect in the third quarter of 2007 with a gain of some
(euro)500 million at consolidated level (impact estimated on the basis of
known contingent tax positions as of June 30, 2007). The bulk of this relates
to a reduction in the deferred tax liabilities recognized in 2004 on the
remeasurement of the acquired intangible assets of Aventis, and will have no
impact on adjusted net income. The residual impact in the adjusted
consolidated income statement for the third quarter of 2007 will be a charge
of approximately (euro)50 million, which will be treated as a "selected item"
for the period.
    The share of profits from associates was (euro)369 million, compared with
(euro)393 million in the first half of 2006. The share of after-tax profits
from territories managed by BMS under the Plavix(R) and Avapro(R) alliance was
(euro)235 million, against (euro)252 million in the first half of 2006. There
was a decrease in the contribution from Sanofi-Pasteur MSD, which is currently
in the Gardasil(R) launch phase, while the contribution from Merial continued
to increase in line with activity.
    Minority interests were (euro)211 million, compared with           
(euro)190 millions in the first half of 2006. This line includes the share of
pre-tax profits paid to BMS from territories managed by sanofi-aventis  
((euro)200 million, versus (euro)182 million in the first half of 2006).
    Adjusted net income was down 4.3% at (euro)3,795 million.
    Adjusted earnings per share (adjusted EPS) was (euro)2.81, 4.7% lower than
the 2006 first-half figure ((euro)2.95), based on an average number of shares
outstanding of 1,351.5 million in the first half of 2007 and 1,345.2 million
in the first half of 2006.
    Excluding selected items (see Appendix 5), adjusted net income totaled
(euro)3,649 million, up 4.1% on the 2006 first-half figure of
(euro)3,504 million and adjusted EPS was (euro)2.70, up 3.8% on the 2006
first-half figure of (euro)2.60.
    Expressed in dollars(3) and excluding selected items, adjusted net income
was $4,850 million, 12.6% up on the 2006 first-half figure and adjusted EPS
was $3.59, 12.2% up on the 2006 first-half figure.

    2007 first-half consolidated statement of cash flows and balance sheet

    Operating cash flow before changes in working capital for the first half
of 2007 was (euro)4,209 million, against (euro)4,040 million in the first half
of 2006.
    Working capital needs increased by (euro)1,163 million during the period,
compared with (euro)1,076 million in the first half of 2006.
    Investing activities generated a net cash outflow of (euro)584 million in
the first half of 2007, compared with a net cash inflow of (euro)75 million in
the first half of 2006.
    Acquisitions of property, plant and equipment and intangibles totaled
(euro)694 million in the first half of 2007, essentially comprising investment
in industrial plant and equipment ((euro)645 million) and contractual payments
for intangible rights (mainly under the exclusive license agreement to develop
and market TroVax(R)). The figures for the first half of 2006 included the
gain on disposal of the Exubera(R) rights.
    Acquisitions of investments ((euro)198 million) mainly comprised the
buyout of preferred shares issued by our subsidiary Carderm Capital, while the
main disposal related to the additional consideration paid by CSL on the sale
of Aventis Behring ((euro)295 million net of tax). In 2006, this line included
an amount of (euro)497 million, mainly representing the acquisition of a
24.87% interest in Zentiva.
    After a dividend payout of (euro)2.37 billion, net cash generated during
the first half of 2007 was (euro)212 million. Net debt as June 30, 2007 was
(euro)5,579 million, compared with (euro)5,791 million at December 31, 2006.
Gearing stood at 12.1% at June 30, 2007, compared with 12.6% at December 31,
2006.

    2007 Guidance

    Barring major adverse events (such as major adverse events on Lovenox(R)
in the United States), the group expects 2007 full-year growth in adjusted EPS
excluding selected items(2)/(6) to be in the range of 9%, calculated using an
exchange rate of (euro)1 = $1.25, despite the end of protection for Ambien(R)
IR in the United States in April and the arrival of generic competition for
Eloxatin(R) in Europe. Sensitivity to the euro/dollar exchange rate is
estimated at 0.6% of growth for a 1-cent movement in the exchange rate.
    Expressed on the basis of the actual average exchange rate for the first
half of 2007 ((euro)1 = $1.329), guidance for growth in adjusted EPS excluding
selected items would be approximately 4.3%.

    Forward-Looking Statements

    This press release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
are statements that are not historical facts. These statements include
financial projections and estimates and their underlying assumptions,
statements regarding plans, objectives, intentions and expectations with
respect to future events, operations, products and services, and statements
regarding future performance. Forward-looking statements are generally
identified by the words "expect," "anticipates," "believes," "intends,"
"estimates," "plans" and similar expressions. Although sanofi-aventis
management believes that the expectations reflected in such forward-looking
statements are reasonable, investors are cautioned that forward-looking
information and statements are subject to various risks and uncertainties,
many of which are difficult to predict and generally beyond the control of
sanofi-aventis, that could cause actual results and developments to differ
materially from those expressed in, or implied or projected by, the
forward-looking information and statements. These risks and uncertainties
include those discussed or identified in the public filings with the SEC and
the AMF made by sanofi-aventis, including those listed under "Risk Factors"
and "Cautionary Statement Regarding Forward-Looking Statements" in the
sanofi-aventis annual report on Form 20-F for the year ended December 31,
2006. Other than as required by applicable law, sanofi-aventis does not
undertake any obligation to update or revise any forward-looking information
or statements.


    Recent Events

    -------------------------------------------------------------------------
    May 21, 2007       Announcement of FDA approval for a new indication for
                       Lovenox(R) in the most severe form of myocardial
                       infarction
    -------------------------------------------------------------------------
    May 29, 2007       Announcement by UCB and sanofi-aventis of FDA approval
                       for Xyzal(R), a new prescription antihistamine May 31,
                       2007 Approval by the sanofi-aventis shareholders'
                       meeting of payment of a net dividend of
                       (euro)1.75 per share, an increase of 15.1%
    -------------------------------------------------------------------------
    June 2, 2007       Announcement by Regeneron Pharmaceuticals and sanofi-
                       aventis at ASCO of encouraging preliminary results
                       from two phase II studies on the VEGF Trap in advanced
                       ovarian cancer and advanced lung cancer June 3, 2007
                       Announcement by Taiho and sanofi-aventis at ASCO of
                       the results of a phase III study evaluating S1 plus
                       cisplatin in advanced gastric cancer
    -------------------------------------------------------------------------
    June 3, 2007       Announcement by Oxford BioMedica and sanofi-aventis at
                       ASCO of encouraging new data from two Phase II studies
                       on Trovax in kidney cancer
    -------------------------------------------------------------------------
    June 4, 2007       Announcement at ASCO that the FOLFOX4 regimen improves
                       long-term survival (5 years) of patients with
                       metastatic colorectal cancer
    -------------------------------------------------------------------------
    June 7, 2007       Announcement that the Japanese authorities had granted
                       a priority review to Taxotere(R) in an additional
                       indication for prostate cancer
    -------------------------------------------------------------------------
    June 13, 2007      Announcement that the Endocrinologic and Metabolic
                       Drugs Advisory Committee of the FDA had voted against
                       recommending FDA approval for rimonabant for use in
                       obese and overweight patients with associated risk
                       factors
    -------------------------------------------------------------------------
    June 14, 2007      Award of a contract to sanofi pasteur to retrofit its
                       influenza vaccine manufacturing facility so that it is
                       in a state of readiness to switch to pandemic
                       influenza vaccine manufacture when requested by the
                       HHS
    -------------------------------------------------------------------------
    June 19, 2007      Confirmation by the U.S. District Court for the
                       Southern District of New York of the validity and
                       enforceability of U.S. patent 4.847.265, which covers
                       clopidogrel bisulfate (the active ingredient of
                       Plavix(R)). The main patent protection for this
                       product has been maintained in the United States until
                       patent expiration November 2011.
    -------------------------------------------------------------------------
    June 23, 2007      Presentation to the ADA of the results of two new
                       comparative studies showing that when added to
                       metformin and/or a sulfonylurea, Lantus(R)
                       significantly reduced free fatty acid levels in
                       patients with type 2 diabetes
    -------------------------------------------------------------------------
    June 23, 2007      Presentation to the ADA of the results of a meta-
                       analysis from confirming the superiority of the basal
                       insulin Lantus(R) over insulin NPH
    -------------------------------------------------------------------------
    June 24, 2007      Presentation to the ADA of the results of a new study
                       evaluating Apidra(R) with a Basal insulin and an Oral
                       antidiabetic drug
    -------------------------------------------------------------------------
    June 27, 2007      Announcement that the FDA had granted a priority
                       review to Taxotere(R) for the treatment of locally-
                       advanced squamous cell carcinoma of the head and neck
                       prior to chemoradiotherapy and surgery
    -------------------------------------------------------------------------
    June 29, 2007      Announcement that as part of the continuous monitoring
                       of the safety of rimonabant, the CHMP of the European
                       Medicines Agency was reviewing the available data on
                       psychiatric events, and that sanofi-aventis was
                       submitting an update of the safety data to the CHMP
    -------------------------------------------------------------------------
    June 29, 2007      Announcement of the decision by sanofi-aventis to
                       withdraw the New Drug Application for rimonabant in
                       the United States
    -------------------------------------------------------------------------
    July 4, 2007       Announcement of priority review in Japan for Plavix(R)
                       in a new indication for the treatment of acute
                       coronary syndrome
    -------------------------------------------------------------------------
    July 8, 2007       Presentation to the ISTH of the results of the EXCLAIM
                       study, showing that a prolonged thrombo-prophylaxis
                       with Lovenox(R) was more effective in reducing the
                       risk of thrombo-embolism events in acutely ill medical
                       patients with reduced mobility
    -------------------------------------------------------------------------
    July 11, 2007      Presentation to the ISTH of the results of the AMADEUS
                       study showing that idraparinux was as effective as
                       warfarin in preventing stroke and systemic embolic
                       events in patients with atrial fibrillation
    -------------------------------------------------------------------------
    July 19, 2007      Announcement that the CHMP had approved the labeling
                       update for Acomplia(R) in Europe and confirmed the
                       benefit-risk ratio of the product except in patients
                       suffering ongoing severe depression
    -------------------------------------------------------------------------
    July 20, 2007      Announcement by Sanofi pasteur,  of the completion of
                       construction of its new influenza vaccine
                       manufacturing facility that is expected to more than
                       double its production capacity in the United States.
    -------------------------------------------------------------------------
    July 31, 2007      Announcement by sanofi-aventis, of the buy back in
                       Japan of marketing rights from January  1st ,2008, of
                       7 of its products. These products are currently
                       marketed by Chugai and Mitsubishi
    -------------------------------------------------------------------------


    Financial Timetable
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    September 17, 2007 Research and Development Meeting
    -------------------------------------------------------------------------
    October 31, 2007   2007 third-quarter net sales and results
    -------------------------------------------------------------------------


    (1) See Appendix 1 for definitions of financial indicators
    (2) See Appendix 5
    (3) U.S. dollar figures obtained by translating euro-denominated figures
        at the average exchange date for the period: 1.348 for Q2 2007
        (Q2 2006: 1.256), and 1.329 for H1 2007 (H1 2006: 1.229)
    (4) Excluding net sales of Ambien IR(R) in the United States (from April)
        and of Eloxatin(R) in Europe
    (5) Comparable net sales
    (6) Adjusted EPS excluding selected items for the year ended December 31,
        2006 was (euro)4.88.


    Appendices

    List of Appendices
    -------------------------------------------------------------------------

    Appendix 1:        Explanatory notes / Financial indicators

    Appendix 2:        2007 second-quarter and first-half net sales by
                       product

    Appendix 3:        2007 second-quarter and first-half adjusted
                       consolidated income statements

    Appendix 4:        2007 second-quarter and first-half reconciliation of
                       consolidated income statement to adjusted consolidated
                       income statement

    Appendix 5:        Trends in selected adjusted income statement items

    Appendix 6:        2007 first-half simplified consolidated statement of
                       cash flows/balance sheet


    Appendix 1: Explanatory notes / Financial indicators
    -------------------------------------------------------------------------

    Comparable net sales

    When we refer to the change in our sales on a "comparable" basis, we mean
that we exclude the impact of exchange rate movements and changes in Group
structure (acquisitions and divestments of interests in entities and rights to
products, and changes in consolidation method for consolidated entities). We
exclude the impact of exchange rates by recalculating sales for the prior
period on the basis of exchange rates used in the current period. We exclude
the impact of acquisitions by including sales from the acquired entity or
product rights for a portion of the prior period equal to the portion of the
current period during which we owned them, based on sales information we
receive from the party from whom we make the acquisition.
    Similarly, we exclude sales in the relevant portion of the prior period
when we have sold an entity or rights to a product.
    For a change in consolidation method, the prior period is recalculated on
the basis of the method used for the current period.

    Reconciliation of 2006 second-quarter and first-half net sales to 2006
comparable second-quarter and first-half net sales

    -------------------------------------------------------------------------
    (euro) million                                                   Q2 2006
    -------------------------------------------------------------------------
    Q2 2006 net sales                                                  7,081
    -------------------------------------------------------------------------
    Impact of changes in Group structure                                 (14)
    -------------------------------------------------------------------------
    Impact of exchange rates                                            (284)
    -------------------------------------------------------------------------
    Q2 2006 comparable net sales                                       6,783
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    (euro) million                                                   H1 2006
    -------------------------------------------------------------------------
    H1 2006 net sales                                                 14,116
    -------------------------------------------------------------------------
    Impact of changes in Group structure                                 (30)
    -------------------------------------------------------------------------
    Impact of exchange rates                                            (592)
    -------------------------------------------------------------------------
    H1 2006 comparable net sales                                      13,494
    -------------------------------------------------------------------------


    Worldwide presence of a product

    When we refer to the "worldwide presence" of a product, we mean our
consolidated net sales of that product, minus sales of the product to our
alliance partners plus non-consolidated sales made through our alliances with
Bristol-Myers Squibb on Plavix(R)/Iscover(R) (clopidogrel) and
Aprovel(R)/Avapro(R)/Karvea(R) (irbesartan), based on information provided to
us by our alliance partner.

    Operating income - current

    We define "operating income - current" as operating income before
restructuring, impairment of property, plant and equipment and intangibles,
gains/losses on disposals, and litigation.

    Adjusted net income

    We define "adjusted net income" as accounting net income after minority
interests adjusted to exclude (i) the material impacts of the application of
purchase accounting to acquisitions and (ii) acquisition-related integration
and restructuring costs. Sanofi-aventis believes that eliminating these
impacts from net income gives investors a better understanding of the
underlying economic performance of the combined Group.

    The material impacts of the application of purchase accounting to
acquisitions, primarily the acquisition of Aventis, are as follows:

    - charges arising from the remeasurement of inventories at fair value,
      net of tax;
    - amortization/impairment expense generated by the remeasurement of
      intangible assets, net of tax;
    - Any impairment of goodwill.

    Sanofi-aventis also excludes from adjusted net income any integration and
restructuring costs (net of tax) that are specific to the acquisition of
Aventis by sanofi-aventis.

    -------------------------------------------------------------------------
    (euro) million         Q2 2007       Q2 2007       H1 2007       H1 2007
                      Consolidated      Adjusted  Consolidated      Adjusted
                         financial  consolidated     financial  consolidated
                        statements     financial    statements     financial
                        (unaudited)   statements                  statements
                                      (unaudited)
    -------------------------------------------------------------------------

    Net sales                6,939         6,939        14,116        14,116
    -------------------------------------------------------------------------
    Net income after
     minority interests      1,128         1,678         2,665         3,795
    -------------------------------------------------------------------------
    Basic earnings
     per share                0.83          1.24          1.97          2.81
    -------------------------------------------------------------------------


    Appendix 2: 2007 second-quarter and first-half

    2007 second-quarter net sales by product:

    -------------------------------------------------------------------------
    (euro) million                       Q2 2007       Q2 2006       Q2 2006
                                       net sales    comparable      reported
                                                     net sales     net sales
    -------------------------------------------------------------------------
    Lovenox(R)                               671           581           614
    -------------------------------------------------------------------------
    Plavix(R)                                632           561           565
    -------------------------------------------------------------------------
    Lantus(R)                                503           399           421
    -------------------------------------------------------------------------
    Taxotere(R)                              474           435           456
    -------------------------------------------------------------------------
    Stilnox(R)/Ambien(R)/Ambien CR(TM)       252           433           467
    -------------------------------------------------------------------------
    Eloxatin(R)                              380           423           445
    -------------------------------------------------------------------------
    Copaxone(R)                              307           255           271
    -------------------------------------------------------------------------
    Aprovel(R)                               272           247           250
    -------------------------------------------------------------------------
    Allegra(R)                               198           174           189
    -------------------------------------------------------------------------
    Tritace(R)                               167           241           248
    -------------------------------------------------------------------------
    Amaryl(R)                                103           113           119
    -------------------------------------------------------------------------
    Xatral(R)                                 85            90            92
    -------------------------------------------------------------------------
    Nasacort(R)                               87            73            78
    -------------------------------------------------------------------------
    Actonel(R)                                82            90            91
    -------------------------------------------------------------------------
    Depakine(R)                               81            75            76
    -------------------------------------------------------------------------
    TOTAL                                  4,294         4,190         4,382
    -------------------------------------------------------------------------
    Other products                         2,026         2,054         2,131
    -------------------------------------------------------------------------
    TOTAL Pharmaceuticals                  6,320         6,244         6,513
    -------------------------------------------------------------------------
    Vaccines                                 619           539           568
    -------------------------------------------------------------------------
    TOTAL Net sales                        6,939         6,783         7,081
    -------------------------------------------------------------------------


    2007 first-half net sales by product:

    -------------------------------------------------------------------------
    (euro) million                       H1 2007       H1 2006       H1 2006
                                       net sales    comparable      reported
                                                     net sales     net sales
    -------------------------------------------------------------------------
    Lovenox(R)                             1,305         1,167         1,238
    -------------------------------------------------------------------------
    Plavix(R)                              1,201         1,136         1,145
    -------------------------------------------------------------------------
    Lantus(R)                                961           759           803
    -------------------------------------------------------------------------
    Taxotere(R)                              923           843           886
    -------------------------------------------------------------------------
    Stilnox(R)/Ambien(R)/Ambien CR(TM)       858           839           908
    -------------------------------------------------------------------------
    Eloxatin(R)                              773           829           874
    -------------------------------------------------------------------------
    Copaxone(R)                              596           501           534
    -------------------------------------------------------------------------
    Aprovel(R)                               536           492           498
    -------------------------------------------------------------------------
    Allegra(R)                               399           339           369
    -------------------------------------------------------------------------
    Tritace(R)                               378           466           483
    -------------------------------------------------------------------------
    Amaryl(R)                                197           229           240
    -------------------------------------------------------------------------
    Xatral(R)                                167           181           186
    -------------------------------------------------------------------------
    Nasacort(R)                              166           138           149
    -------------------------------------------------------------------------
    Actonel(R)                               160           177           180
    -------------------------------------------------------------------------
    Depakine(R)                              157           151           154
    -------------------------------------------------------------------------
    TOTAL                                  8,777         8,247         8,647
    -------------------------------------------------------------------------
    Other products                         4,153         4,219         4,389
    -------------------------------------------------------------------------
    TOTAL Pharmaceuticals                 12,930        12,466        13,036
    -------------------------------------------------------------------------
    Vaccines                               1,186         1,028         1,080
    -------------------------------------------------------------------------
    TOTAL Net sales                       14,116        13,494        14,116
    -------------------------------------------------------------------------


    Appendix 3: 2007 second-quarter and first-half adjusted consolidated
    income statements

    2007 second-quarter adjusted consolidated income statement (unaudited)

    -------------------------------------------------------------------------
    (euro)     Q2 2007     as % of       Q2 2006       as % of             %
     million  Adjusted         net      Adjusted           net        change
                 conso-      sales         conso-        sales
               lidated                   lidated
                income                    income
             statement                 statement
            (unaudited)               (unaudited)
    -------------------------------------------------------------------------
    Net sales    6,939       100.0%        7,081         100.0%         -2.0%
    -------------------------------------------------------------------------
      Other
       revenues    291         4.2%          358           5.1%        -18.7%
    -------------------------------------------------------------------------
      Cost of
       sales    (1,840)      (26.5%)      (1,891)        (26.7%)        -2.7%
    -------------------------------------------------------------------------
    Gross
     profit      5,390        77.7%        5,548          78.4%         -2.8%
    -------------------------------------------------------------------------
      Research
       and
       development
       expenses (1,101)      (15.9%)      (1,098)        (15.5%)        +0.3%
    -------------------------------------------------------------------------
      Selling and
       general
       expenses (1,931)      (27.8%)      (2,011)        (28.4%)        -4.0%
    -------------------------------------------------------------------------
      Other
       current
       operating
       income       87           -            81             -             -
    -------------------------------------------------------------------------
      Other current
       operating
       expenses    (82)          -           (32)            -             -
    -------------------------------------------------------------------------
      Amortization
       of
       intangibles (34)          -           (33)            -             -
    -------------------------------------------------------------------------
    Operating
     income -
     current(*)  2,329        33.6%        2,455          34.7%         -5.1%
    -------------------------------------------------------------------------
      Restruc-
       turing
       costs       (28)          -             -             -             -
    -------------------------------------------------------------------------
      Impairment
       of PP&E
       and
       intangibles   -           -             -             -             -
    -------------------------------------------------------------------------
      Gain/loss
       on disposals,
       and
       litigation    -           -           (13)            -             -
    -------------------------------------------------------------------------
    Operating
     income      2,301        33.2%        2,442          34.5%         -5.8%
    -------------------------------------------------------------------------
      Financial
       expenses    (87)          -          (171)            -         -49.1%
    -------------------------------------------------------------------------
      Financial
       income       48           -           108             -         -55.6%
    -------------------------------------------------------------------------
    Income before
     tax and
     associates  2,262        32.6%        2,379          33.6%         -4.9%
    -------------------------------------------------------------------------
      Income tax
       expense    (695)      (10.0%)        (707)        (10.0%)        -1.7%
    -------------------------------------------------------------------------
      Reported
       tax rate   30.7%          -          29.7%            -             -
    -------------------------------------------------------------------------
      Share of
       profit/loss
       of
       associates  210           -           212             -          -0.9%
    -------------------------------------------------------------------------
    Consolidated
     net income  1,777        25.6%        1,884          26.6%         -5.7%
    -------------------------------------------------------------------------
      Minority
       interests    99           -            93             -          +6.5%
    -------------------------------------------------------------------------
    Net income
     after
     minority
     interests   1,678        24.2%        1,791          25.3%         -6.3%
    -------------------------------------------------------------------------
      Average
       number
       of
       shares
       out-
       standing
       (mil-
       lion)   1,351.9                   1,346.0
    -------------------------------------------------------------------------
    Earnings
     per share
     (in euros)   1.24                      1.33                        -6.8%
    -------------------------------------------------------------------------

    (*) Operating income before restructuring, impairment of PP&E and
        intangibles, gains/losses on disposals, and litigation


    2007 first-half adjusted consolidated income statement


    -------------------------------------------------------------------------
    (euro)     H1 2007     as % of       H1 2006       as % of             %
     million  Adjusted         net      Adjusted           net        change
                 conso-      sales         conso-        sales
               lidated                   lidated
                income                    income
             statement                 statement
    -------------------------------------------------------------------------
    Net sales   14,116       100.0%       14,116         100.0%          0.0%
    -------------------------------------------------------------------------
      Other
       revenues    547         3.9%          647           4.6%        -15.5%
    -------------------------------------------------------------------------
      Cost
       of sales (3,704)      (26.3%)      (3,758)        (26.6%)        -1.4%
    -------------------------------------------------------------------------
    Gross
     profit     10,959        77.6%       11,005          78.0%         -0.4%
    -------------------------------------------------------------------------
      Research
      and
      development
      expenses  (2,182)      (15.5%)      (2,144)        (15.2%)        +1.8%
    -------------------------------------------------------------------------
      Selling
       and
       general
       expenses (3,804)      (26.9%)      (4,061)        (28.8%)        -6.3%
    -------------------------------------------------------------------------
      Other
       current
       operating
       income      278           -           200             -             -
    -------------------------------------------------------------------------
      Other
       current
       operating
       expenses   (136)          -           (60)            -             -
    -------------------------------------------------------------------------
      Amortization
       of
       intangibles (67)          -           (66)            -             -
    -------------------------------------------------------------------------
    Operating
     income -
     current(*)  5,048        35.8%        4,874          34.5%         +3.6%
    -------------------------------------------------------------------------
      Restruc-
       turing
       costs       (50)          -             -             -             -
    -------------------------------------------------------------------------
      Impairment
       of PP&E
       and
       intangibles   -           -            (1)            -             -
    -------------------------------------------------------------------------
      Gain/loss on
       disposals,
       and
       litigation    -           -           520             -             -
    -------------------------------------------------------------------------
    Operating
     income      4,998        35.4%        5,393          38.2%         -7.3%
    -------------------------------------------------------------------------
      Financial
       expenses   (170)          -          (280)            -         -39.3%
    -------------------------------------------------------------------------
      Financial
       income       99           -           187             -         -47.1%
    -------------------------------------------------------------------------
    Income before
     tax and
     associates  4,927        34.9%        5,300          37.5%         -7.0%
    -------------------------------------------------------------------------
      Income tax
       expense  (1,290)      (9.1%)       (1,539)        (10.9%)       -16.2%
    -------------------------------------------------------------------------
      Reported
       tax rate   26.2%          -          29.0%            -             -
    -------------------------------------------------------------------------
      Share of
       profit/loss
       of
       associates  369           -           393             -          -6.1%
    -------------------------------------------------------------------------
    Consolidated
     net income  4,006        28.4%        4,154          29.4%         -3.6%
    -------------------------------------------------------------------------
      Minority
       interests   211           -           190             -         +11.1%
    -------------------------------------------------------------------------
    Net income
     after
     minority
     interests   3,795        26.9%        3,964          28.1%         -4.3%
    -------------------------------------------------------------------------
      Average
       number of
       shares
       out-
       standing
       (mil-
       lion)   1,351.5                   1,345.2
    -------------------------------------------------------------------------
    Earnings
     per share
     (in euros)   2.81                      2.95                        -4.7%
    -------------------------------------------------------------------------

    (*) Operating income before restructuring, impairment of PP&E and
        intangibles, gains/losses on disposals, and litigation


    Appendix 4: 2007 second-quarter and first-half reconciliation of
    consolidated income statement to adjusted consolidated income statement

    2007 second-quarter reconciliation of consolidated income statement to
    adjusted consolidated income statement

    The adjustments to the income statement reflect the elimination of
material impacts of the application of purchase accounting to acquisitions,
primarily the acquisition of Aventis, amounting to (euro) 550 million net of
deferred taxes (with no cash impact for the Group).

    -------------------------------------------------------------------------
    (euro) million                       Q2 2007   Adjustments       Q2 2007
                                    Consolidated                    Adjusted
                                      (unaudited)               consolidated
                                                                  (unaudited)
    -------------------------------------------------------------------------
    Net sales                              6,939                       6,939
    -------------------------------------------------------------------------
      Other revenues                         291                         291
    -------------------------------------------------------------------------
      Cost of sales                       (1,840)                     (1,840)
    -------------------------------------------------------------------------
    Gross profit                           5,390                       5,390
    -------------------------------------------------------------------------
      Research and development expenses   (1,101)                     (1,101)
    -------------------------------------------------------------------------
      Selling and general expenses        (1,931)                     (1,931)
    -------------------------------------------------------------------------
      Other current operating income          87                          87
    -------------------------------------------------------------------------
      Other current operating expenses       (82)                        (82)
    -------------------------------------------------------------------------
      Amortization of intangibles           (914)        880(a)          (34)
    -------------------------------------------------------------------------
    Operating income - current(*)          1,449           880         2,329
    -------------------------------------------------------------------------
      Restructuring costs                    (28)                        (28)
    -------------------------------------------------------------------------
      Impairment of PP&E and intangibles       5         (5)(b)            -
    -------------------------------------------------------------------------
      Gain/loss on disposals,
       and litigation                          -                           -
    -------------------------------------------------------------------------
    Operating income                       1,426           875         2,301
    -------------------------------------------------------------------------
      Financial expenses                     (87)                        (87)
    -------------------------------------------------------------------------
      Financial income                        48                          48
    -------------------------------------------------------------------------
    Income before tax and associates       1,387           875         2,262
    -------------------------------------------------------------------------
      Income tax expense                    (373)      (322)(c)         (695)
    -------------------------------------------------------------------------
      Share of profit/loss of associates     213         (3)(d)          210
    -------------------------------------------------------------------------
    Consolidated net income                1,227           550         1,777
    -------------------------------------------------------------------------
      Minority interests                      99                          99
    -------------------------------------------------------------------------
    Net income after minority interests    1,128           550         1,678
    -------------------------------------------------------------------------
      Average number of shares
       outstanding (million)             1,351.9                     1,351.9
    -------------------------------------------------------------------------
    Earnings per share (in euros)           0.83          0.41          1.24
    -------------------------------------------------------------------------

    (*) Operating income before restructuring, impairment of PP&E and
        intangibles, gains/losses on disposals, and litigation


    The material impacts of the application of purchase accounting to
acquisitions (primarily the acquisition of Aventis) on the 2007 second-quarter
consolidated income statement are:

    a)    An amortization charge of (euro)880 million against intangible
          assets. This adjustment has no cash impact on the Group.

    b)    A reversal of impairment losses of (euro)5 million. This
          adjustment has no cash impact on the Group.

    c)    Deferred taxes of (euro)322 million mainly generated by the
          (euro)880 million amortization charge taken against intangible
          assets. This adjustment has no cash impact on the Group.

    d)    In "Share of profit/loss from associates", an income of
          (euro)3 million for amortization of intangibles, net of tax. This
          adjustment has no cash impact on the Group.


    2007 first-half reconciliation of consolidated income statement to
    adjusted consolidated income statement

    The adjustments to the income statement reflect the elimination of
material impacts of the application of purchase accounting to acquisitions,
primarily the acquisition of Aventis, amounting to (euro) 1,130 million net of
deferred taxes (with no cash impact for the Group).

    -------------------------------------------------------------------------
    (euro) million                       H1 2007   Adjustments       H1 2007
                                    Consolidated                    Adjusted
                                                                consolidated
    -------------------------------------------------------------------------
    Net sales                             14,116                      14,116
    -------------------------------------------------------------------------
      Other revenues                         547                         547
    -------------------------------------------------------------------------
      Cost of sales                       (3,704)                     (3,704)
    -------------------------------------------------------------------------
    Gross profit                          10,959                      10,959
    -------------------------------------------------------------------------
      Research and development expenses   (2,182)                     (2,182)
    -------------------------------------------------------------------------
      Selling and general expenses        (3,804)                     (3,804)
    -------------------------------------------------------------------------
      Other current operating income         278                         278
    -------------------------------------------------------------------------
      Other current operating expenses      (136)                       (136)
    -------------------------------------------------------------------------
      Amortization of intangibles         (1,833)      1,766(a)          (67)
    -------------------------------------------------------------------------
    Operating income - current(*)          3,282         1,766         5,048
    -------------------------------------------------------------------------
      Restructuring costs                    (50)                        (50)
    -------------------------------------------------------------------------
      Impairment of PP&E and intangibles       5         (5)(b)            -
    -------------------------------------------------------------------------
      Gain/loss on disposals,
       and litigation                          -                           -
    -------------------------------------------------------------------------
    Operating income                       3,237         1,761         4,998
    -------------------------------------------------------------------------
      Financial expenses                    (170)                       (170)
    -------------------------------------------------------------------------
      Financial income                        99                          99
    -------------------------------------------------------------------------
    Income before tax and associates       3,166         1,761         4,927
    -------------------------------------------------------------------------
      Income tax expense                    (641)      (649)(c)       (1,290)
    -------------------------------------------------------------------------
      Share of profit/loss of associates     351          18(d)          369
    -------------------------------------------------------------------------
    Consolidated net income                2,876         1,130         4,006
    -------------------------------------------------------------------------
      Minority interests                     211                         211
    -------------------------------------------------------------------------
    Net income after minority interests    2,665         1,130         3,795
    -------------------------------------------------------------------------
      Average number of shares
      outstanding (million)              1,351.5                     1,351.5
    -------------------------------------------------------------------------
    Earnings per share (in euros)           1.97          0.84          2.81
    -------------------------------------------------------------------------

    (*)  Operating income before restructuring, impairment of PP&E and
         intangibles, gains/losses on disposals, and litigation


    The material impacts of the application of purchase accounting to
acquisitions (primarily the acquisition of Aventis) on the 2007 first-half
consolidated income statement are:

    a)    An amortization charge of (euro)1,766 million against intangible
          assets. This adjustment has no cash impact on the Group.

    b)    A reversal of impairment losses of (euro)5 million. This
          adjustment has no cash impact on the Group.

    c)    Deferred taxes of (euro)649 million mainly generated by the
          (euro)1,766 million amortization charge taken against intangible
          assets. This adjustment has no cash impact on the Group.

    d)    In "Share of profit/loss from associates", a charge of
          (euro)18 million for amortization of intangibles, net of tax. This
          adjustment has no cash impact on the Group.


    Appendix 5: Trends in selected adjusted income statement items, net of
    -------------------------------------------------------------------------
    tax
    ----

    -------------------------------------------------------------------------
    (euro) million         Q2 2007       Q2 2006       H1 2007       H1 2006
    -------------------------------------------------------------------------
    Restructuring costs        (20)            -           (35)            -
    -------------------------------------------------------------------------
    Net gains/(losses)
     on disposals                              1                       447(3)
    -------------------------------------------------------------------------
    Provisions for
     financial instruments,
     litigation,
     tax inspections
     and other items        (42)(1)           (7)        181(2)           13
    -------------------------------------------------------------------------
    TOTAL net of tax           (62)           (6)          146           460
    -------------------------------------------------------------------------

    (1) Harmonization of welfare and healthcare plans for retirees.

    (2) Includes:
          - Tax risks/settlement of tax disputes: +(euro)223 million
          - Agreements on welfare and healthcare plans for retirees:
            -(euro)42 million

    (3) Includes:
          - Exubera(R): +(euro)384 million
          - Animal Nutrition: +(euro)31 million


    Appendix 6: Simplified consolidated statement of cash flows and
    -------------------------------------------------------------------------
    consolidated balance sheet
    ---------------------------

    The consolidated financial statements for the six months ended June 30,
2007 have been subject to a limited review by the statutory auditors in
accordance with French auditing standards.

    Simplified consolidated statement of cash flows

    -------------------------------------------------------------------------
    (euro) million                                     H1 2007       H1 2006
    -------------------------------------------------------------------------
    Adjusted net income                                  3,795         3,964
    -------------------------------------------------------------------------
    Depreciation, amortization and impairment
     of property, plant & equipment and intangibles        518           518
    -------------------------------------------------------------------------
    Impact of restructuring costs, net of tax                -           (21)
    -------------------------------------------------------------------------
    Net gain/loss on disposals of non-current
     assets, net of tax                                    (37)         (462)
    -------------------------------------------------------------------------
    Other items                                            (67)           41
    -------------------------------------------------------------------------
    Operating cash flow before changes
     in working capital                                  4,209         4,040
    -------------------------------------------------------------------------
    Changes in working capital                          (1,163)       (1,076)
    -------------------------------------------------------------------------
    Net cash provided by operating activities            3,046         2,964
    -------------------------------------------------------------------------
    Acquisitions of property, plant
     and equipment and intangibles                        (694)         (631)
    -------------------------------------------------------------------------
    Acquisitions of investments in consolidated
     undertakings, net of cash acquired                   (198)         (497)
    -------------------------------------------------------------------------
    Proceeds from disposals of property, plant &
     equipment and intangibles, net of tax                 295         1,203
    -------------------------------------------------------------------------
    Other items                                             13             -
    -------------------------------------------------------------------------
    Net cash provided by/(used in) investing activities   (584)           75
    -------------------------------------------------------------------------
    Issuance of sanofi-aventis shares                      104           155
    -------------------------------------------------------------------------
    Proceeds from sale of own shares on exercise
     of stock options                                       17            35
    -------------------------------------------------------------------------
    Dividends                                           (2,371)       (2,050)
    -------------------------------------------------------------------------
    Other items                                              -           (39)
    -------------------------------------------------------------------------
    Change in net debt                                     212         1,140
    -------------------------------------------------------------------------


    Simplified consolidated balance sheet

    (euro) million
    -------------------------------------------------------------------------
    ASSETS     30/06/07  31/12/06   LIABILITIES &     30/06/07      31/12/06
                                    EQUITY
    -------------------------------------------------------------------------
    Property,     6,369     6,219   Equity              46,021        45,600
     plant                          attributable
     and                            to equity-
     equipment                      holders
                                    of the company
    -------------------------------------------------------------------------
    Intangible   49,768    52,210   Minority                89           220
     assets                         interests
     (including
     goodwill)
    -------------------------------------------------------------------------
    Non-current   6,516     7,174   Total               46,110        45,820
     financial                      shareholders'
     assets,                        equity
     investments
     in associates
     and deferred
     taxes
    -------------------------------------------------------------------------
                                    Long-term debt       4,183         4,499
    -------------------------------------------------------------------------
    Non-current  62,653    65,603   Provisions           6,560         7,920
     assets                         and other
                                    non-current
                                    liabilities
    -------------------------------------------------------------------------
                                    Deferred taxes       8,443         9,246
    -------------------------------------------------------------------------
    Inventories, 11,336    11,007   Non-current         19,186        21,665
     accounts                       liabilities
     receivable
     and current
     financial
     assets
    -------------------------------------------------------------------------
    Cash &        1,083     1,153   Accounts payable     7,297         7,833
     equivalents,                   and other
     short-term                     current liabilities
     investments
     and deposits
    -------------------------------------------------------------------------
                                    Short-term debt      2,479         2,445
    -------------------------------------------------------------------------
    Current      12,419    12,160   Current liabilities  9,776        10,278
     assets
    -------------------------------------------------------------------------
    Total        75,072    77,763   Total LIABILITIES   75,072        77,763
     ASSETS                         & EQUITY
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    REMINDER

    8.00 am CET - WEBCAST
    & CONFERENCE CALL (English)  The 1st half 2007 sales and earnings will be
                                 reviewed today by Mr. Hanspeter Spek,
                                 Executive Vice-President, Pharmaceutical
                                 Operations, Mr. Jean-Claude Leroy, Executive
                                 Vice President, Finance and Legal. The
                                 slides will be available on
                                 http://www.sanofi-aventis.com. This
                                 presentation will be followed by a Q&A
                                 session.

    CALL-IN NUMBERS              The conference will also be available by
                                 telephone via the following numbers:

                                 France     +33 (0) 1 70 99 42 99
                                 UK         +44 (0) 207 806 1967
                                 USA        +1 718 354 1387


    AUDIO REPLAY                 Available online at http://www.sanofi-
                                 aventis.com and through the numbers below
                                 (until August 15, 2007):

                                 France     +33 (0) 1 71 23 02 48
                                 UK         +44 (0) 207 806 1970
                                 USA        +1 718 354 1112
                                 Access code 8147224#.
    




For further information:

For further information: Michel Labie, Senior Vice President, Corporate
Communications; Jean-Marc Podvin, Vice President, Media Relations, + 33
1.53.77.42.23; Salah Mahyaoui, Vice President, Product Communications, + 33
1.53.77.40.31; www.sanofi-aventis.com

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