Cephalon added to S and P 500 index

Cephalon has been added to Standard and Poor’s (S&P) 500 index.

Replacing General Growth Properties, the biopharmaceutical company’s inclusion also follows a rise in its shares by $0.43 (0.29 pounds) to $72.43.

The addition of Cephalon to the S&P 500 index follows the property company’s warning on Tuesday that it may file for bankruptcy, with its shares falling 64 per cent in regular trading.

As a result of Cephalon’s inclusion, oil and gas driller Mariner Energy Inc will take its previous spot on the S&P MidCap 400 index after Friday’s close.
Founded in 1987 as a biotech start-up, Cephalon has annual revenues of over $1.77 billion, with 3,000 employees in locations around the world.
Specialising in treatments for cancer, pain and central nervous system disorders, the company has nine proprietary products in the United States, along with more than 30 others internationally.
In other news, Cephalon received US Food and Drug Administration approval for Treanda.

Used to treat patients with relapsed indolent non-hodgkin’s lymphoma (NHL), the product was found to be effective, with a tolerable side effect profile in NHL patients.

It was also found there were treatment results in a high durable response rate.