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Home Industry News Cephalon ‘exceeds sales and earnings guidance for Q2’

Cephalon ‘exceeds sales and earnings guidance for Q2’

30th July 2008

Cephalon has announced its financial results for the second quarter of 2008, with the company reporting it has surpassed its sales and earnings guidance for the period.

During the quarter, the company generated sales of $485 million (245 million pounds), up from $435.2 million in the same period last year and exceeding its own guidance of $455-$465 million.

Excluding amortisation expense and other items, adjusted net income for the period was $84.5 million, with basic adjusted income per common share of $1.25, up from $1.14 and greater than the firm’s guidance of $1.10 to $1.20.

Frankl Baldino, chairman and chief executive officer of the company, said: “With so many companies suffering from a myriad of economic problems, I am proud that Cephalon is reporting another solid quarter of sales and earnings growth.”

He added that the company is pleased to know patients are benefiting from its recent launches of Treanda (bendamustine) and Amrix (Cyclobenzaprine HCl extended-release capsules), with both products perfoming well.

Earlier this month, Cephalon announced the publication of positive phase II study results for Treanda for injection plus rituximab in patients with relapsed indolent B-cell and mantle cell non-Hodgkin’s lymphoma.

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