US clears generic version of Sanofi blood thinner

US health regulators approved on Friday a generic version of the widely-used Sanofi-Aventis blood clot treatment Lovenox, leading the French drugmaker to cut its 2010 financial outlook. The US Food and Drug Administration said approval of the first generic version of Lovenox was granted to the Sandoz generic drug unit of Switzerland's Novartis AG, which is allied with smaller partner Momenta Inc. Shares of Momenta soared 81.9 percent.

Sanofi, which saw its shares fall 4.3 percent, said it now expects earnings to drop as much as 4 percent this year. "Clearly, it's bad news for Sanofi," said Paul Diggle, an analyst at Ambrian Partners in London. "They had conceded this was highly possible but, because of the uncertainty, they hadn't got it in their 2010 guidance." The hit to Sanofi came as a source familiar with the matter said the French drugmaker approached biotech company Genzyme Corp GENZ.O> about a possible acquisition.