Sanofi $SNY 2q2011 earnings conference call notes

• SNY held its 2q2011 earnings conference call 7/28/11 - click here for transcript.
• SNY (via Genzyme) is partnered with Isis Pharma for mipomersen (now tradenamed Kynamro) hypercholesterolemia (see much more detail on ISIS research page)
• Kynamro (mipomersen) was filed in EU in JUly 2011 and SNY stated on CC that US NDA submission to FDA is expected 4q2011. Acceptance of the NDA triggers a $25m milestone payment to ISIS.
• Quote: "The first one was filed this month is Kynamro, mipomersen which is indicated in homozygous familial hypercholesterolemia and severe heterozygous familial hypercholesterolemia. And has been filed in July this month in the EU and will be filed in the fourth quarter in the U.S."
• SNY also sells branded Lovenox (enoxaparin)...which as of July 2010 faces generic competition from Momenta Pharma partnered with Sandoz (generic arm of Novartis $NVS, see MNTA research page)
• Quotes from CC re Lovenox:
• "We continue to lose to generics €778 million, as we have seen in Christmas part, evidently this is still very significant. Lovenox and Taxotere makes a vast majority of those €778 million, but it is very significantly less than in the previous semesters"
  
• "I mean clearly this is on the always toughest point I'd say in terms of generic impact on sales that we'll see over the year 2011. And I'll remind you that as from Q3, we already had the generic of Lovenox as from the July 27th. So therefore on a like-for-like basis, the impact of generification will be somewhat lower from Q3."
• "We don't know yet exactly what will happen on Lovenox. So clearly, I mean if there is no generic of Lovenox up to the end of the year [referring to lack of generic approval/launch for TEVA’s generic enoxaparin - a 3rd market entrant would causes even lower prices and profit for all players], it will help us to be on the higher end of the new guidance."