Cephalon achieves record-breaking results in Q3 2010

Cephalon has recorded some of its best ever financial results during the third quarter of 2010, with earnings and cash flow rising to record levels.

The pharmaceutical company's sales total for the three months rose by 32 percent year-on-year to $707.1 million (436.9 million pounds), a figure which exceeded the top end of its guidance.

A number of the firm's key franchises saw double-digit growth during the quarter, including its central nervous system, pain and oncology businesses, while the Q2 acquisition of Mepha also helped to bolster performance.

As a result, Cephalon has upgraded its guidance for the full-year period and now expects to generate sales of between $2.69 and $2.73 billion over 12 months.

Kevin Buchi, chief operating officer for Cephalon, said: "Our robust cash flow generation gives us the flexibility to invest in our rich pipeline while continuing our active business development efforts, positioning us very well for the future."

Last month, the company announced that it will be providing funding for oncology specialist ChemGenex Pharmaceuticals' new drug research, as well as acquiring an option to buy a stake in the firm.