Sanofi-Aventis at underperform by Credit Suisse

Sanofi-Aventis was rated at underperform with an increased price target to €79 from €73 by Credit Suisse analyst Steve Plag. Sanofi-Aventis and Bristol Myers have reached a provisional settlement with Apotex regarding the Plavix patent litigation. In return for an undisclosed cash payment and granting Apotex a license to sell Plavix, the court proceedings would be dropped. Credit Suisse thinks the deal has been constructed to bring generic competition to the U.S. market slightly earlier (by eight months). Shares of the Paris-based pharmaceutical company were up $4.20, or 9.62%, at $47.88 on volume of 4,445,300 shares versus the three-month running average of 1,585,060 shares. (NYSE: SNY)

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