Cephalon reports doubling of profits thanks to Provigil sales

Cephalon has revealed that its profits for the third quarter of 2006 more than doubled, largely thanks to improved sales of Provigil, the drug used to treat excessive sleepiness.

Revenues for the quarter reached $482.3 million (252.5 million pounds) over the quarter, compared to $309.5 million during the same period in 2005 – a 56 per cent increase.

Because of this, Cephalon is upping its financial guidance for the year from between $1.525 billion and $1.575 billion, to somewhere in the region of $1.66 billion to $1.725 billion.

Frank Baldino Jr, chairman and chief executive officer of Cephalon, commented: “We are pleased to report an exceptionally strong third quarter with earnings more than double the third quarter last year, led by continued growth in our central nervous system and pain franchises.”

“With the continued growth of Provigil, the successful launch of Fentora, the anticipated approval of Nuvigil and our development of a market for Vivitrol, we are well positioned for strong future growth,” he added.

Recently, the company announced a positive set of trial results for Fentora, a new pain management drug.

The therapy was found to be effective in patient with chronic lower back pain suffering from breakthrough pain, as well as in breakthrough pain in cancer patients.

However, Cephalon withdrew Sparlon, an ADHD treatment, from late-stage development after it failed to receive an approvable letter from the American drug regulator.