Скачать или смотреть Sanofi-Aventis Off 1.5%; Sees Earnings Decline of 5% to 10%

French drug maker Sanofi-Aventis (SNY) is down following news that ongoing efforts to win over its takeover target U.S biotech Genzyme (GENZ) has prompted the firm to expect an earnings decline this year of between 5% and 10%.

The company said it expects generic competition to accelerate next year and predicts a 5% to 10% decline in 2011 business earnings per share. The forecast does not assume a return of generic competition to cancer treatment Eloxatin in the United States, or any benefit from the possible acquisition of Genzyme, the company said in its only reference to Genzyme in the quarterly earnings statement.

Sanofi ADRs are down $0.54, or 1.54%, to $34.44. Genzyme shares are off 1%.