Sanofi-Aventis SA , the French drugmaker trying to take over Genzyme Corp. of the U.S., fell the most in six months after saying one of its most promising experimental drugs failed in a key study in breast cancer.
Roche Holding AG’s failure to persuade a U.S. panel to back Avastin in breast cancer is the third such loss for the Swiss drugmaker as it looks for new ways to expand sales of the world’s top-selling cancer medicine.
Sanofi-Aventis SA’s 440-million-euro ($602 million) acquisition of Indian vaccine maker Shantha Biotechnics Ltd. failed to live up to analyst forecasts after manufacturing woes wiped out $340 million of sales.
Sanofi-Aventis SA ’s talks to buy Genzyme Corp. are progressing, the French drugmaker said as it forecast profit will drop as much as 10 percent because of generic competition and the loss of flu vaccine sales.
Sanofi-Aventis SA , the French drugmaker that bought Genzyme Corp. this month, said first- quarter profit fell as generic competition dented sales of five key medicines and the end of the pandemic wiped out demand for swine flu vaccines.
AstraZeneca Plc raised its earnings forecast for the third time this year and doubled a share buyback plan as the anti-clot drug Brilinta moved one step closer to approval and a U.S. court upheld a patent on the Crestor cholesterol medicine.
The U.S. health-care overhaul will cut Sanofi-Aventis SA’s sales in the country by about 2 percent this year, adding to evidence that European drugmakers are less affected by the legislation than their U.S. counterparts.