Annual Report 2003 Aventis - Sanofi

Letter to Shareholders
Dear Shareholders,
Every day millions of people around the world rely on innovative pharmaceutical
products. Serious and life-threatening diseases such as cancer, diabetes or cardiovascular
conditions, to name just a few, still cannot be cured. On the contrary, they
are even on the increase. Other conditions, linked to aging, such as Alzheimer’s or
arthritis, are also becoming more widespread as average life expectancy continues
to rise in both the industrialized world and developing countries. It is our aspiration
at Aventis to help people around the world with innovative pharmaceutical
products to prevent, treat and cure disease – because “Life can’t wait.”
I am pleased to report to you on the conclusion of another successful year. Our 2003
earnings results are very strong and form a solid basis for future accelerated growth.
We achieved double-digit earnings growth despite the rapid appreciation of the euro
against other currencies and the negative impact of European healthcare reforms
on sales of non-strategic products. We continued to invest in the future. Aventis is
now better positioned for sustained future organic growth than ever before. These
achievements were made possible by the commitment, dedication and expertise of
the 75 000 employees of Aventis around the world. On behalf of the Management
Board, I extend my sincere gratitude for their contribution to our success in 2003.
Key Achievements in 2003
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