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Home Industry News Cephalon reports rising sales in second quarter

Cephalon reports rising sales in second quarter

8th August 2011

Cephalon has published its financial results for the second quarter of 2011, during which it saw a two percent year-on-year increase in net sales.

The company's sales total for the quarter came to $730.1 million (444.8 million pounds), with growth driven primarily by a 22 percent rise in sales for its oncology division.

Cephalon attributed this to the strength of demand for the bendamustine hydrochloride treatment Treanda, while its pain franchise performance also advanced by four percent compared to Q2 2010.

The most recent quarter also saw the firm agree to an acquisition proposal from fellow pharmaceutical company Teva, valued at $6.8 billion.

Cephalon's board of directors approved the bid in May 2011 after deeming it to provide greater benefits than a rival offer of $5.7 billion from Valeant Pharmaceuticals.

Kevin Buchi, chief executive officer of Cephalon, said: "We continue to work with both US and European authorities to obtain all necessary regulatory approvals in order to close the transaction with Teva."ADNFCR-8000103-ID-800692325-ADNFCR

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