Cephalon announces 23% rise in quarterly revenues

Cephalon has published its results for the first quarter of the year, with the firm reporting a “dramatic” increase in earnings for the period. The company generated revenues of $423.9 million during the first three months of the year, a rise of 23 per cent on the first quarter of 2006.

Basic adjusted income per common share rose 86 per cent to $1.45, exceeding the high end of the company’s previous guidance for the quarter by $0.45

Growth was driven by a 35 per cent increase in central nervous system revenues to $217.5 million, while other sales saw a 12 per cent increase to $74.9 million.

Frank Baldino, chairman and chief executive officer of Cephalon, said: “We delivered remarkable earnings performance in the first quarter of 2007 as we continue to effectively execute across all aspects of our business.”

He added that operating expenses had been mainly consistent with last year’s figures, while the company profited from European sales, its growth of Provigil and its transition from Actiq to Fentora for the treatment of pain.

In February 2007, Cephalon reported record $1.7 billion revenues for the 2006 financial year, a 46 per cent increase on the previous year.