Sanofi-Aventis' (SASY.PA) earnings will bear the mark of stiffer generic competition but the French drugmaker looks set to become less exposed to cheaper rivals as talks to acquire U.S. biotech Genzyme (GENZ.O) draw to a close. Sanofi is expected at its earnings presentation on Wednesday to elaborate how its bid to wrap up the acquisition of Genzyme is progressing in a deal that sources have told Reuters would be worth roughly $20 billion in cash and a future pay-out. Sanofi's "business" earnings per share is estimated to have dropped 4 percent to 1.35 euros in the fourth quarter of 2010 from a year earlier, excluding items such as amortisation and litigation costs, the average outcome of a Reuters poll among 13 analysts shows.
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