Growth In Emerging Markets Offsets Declining Sales In Developed Markets

BMI View: Sanofi-Aventis's 2010 results highlight the company's high exposure to healthcare sector cost-containment programmes and pricing pressures placed on medicines by governments in developed states. The ongoing patent cliff, under which almost all leading blockbusters will lose patent protection, is also sure to affect the firm. However, on a positive note, Sanofi has increased its focus on industry-driven emerging markets, highlighted by sales growth in these markets as well as by the company's acquisitions, partnerships and expansion activities.

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