Cephalon reports ‘strong’ first-quarter earnings

Cephalon has published its financial results for the first quarter of the 2008 fiscal year, with the firm reporting “strong” earnings for the period.

The company announced sales of $433.9 million (220.2 million pounds) for the period, up from $423.9 million for the comparable period last year.

Previous sales guidance from the firm for the quarter was $435million-$445 million.

Basic adjusted income per common share excluding amortisation expense and other certain items fell from $1.45 for the first quarter of 2007 to $1.12, up on the company’s guidance of $1.00-$1.10.

Cephalon has altered its total sales guidance for the 2008 financial year to $1.83-$1.88 billion.

Frank Baldino, chairman and chief executive officer of the company, said: “We are receiving overwhelmingly positive feedback from the Treanda launch.”

He added that prescriptions for Amrix doubled in the first quarter of the year compared to the last quarter of 2008, with a growth in acceptance of this product in the marketplace.

The success of these two products is forecast to continue to drive the sales growth at the firm.

Last month, Cephalon announced the appointment of Jerry Pappert as executive vice-president and general counsel of the company.