Cephalon reports record earnings

Cephalon has published its financial results for the 2006 fiscal year, reporting a 46 per cent increase in revenue to a record $1.7 billion (0.87 billion pounds). This figure is $32 million higher than the company’s previous guidance for the year.

The company reported a basic income per common share of $2.39 for 2006, $0.34 higher than its previously issued guidance.

Its central nervous system business sales increased by 34 per cent to $786.3 million, while its pain business sales rose by 59 per cent to $656.2 million.

Frank Baldino, chairman and chief executive officer of Cephalon, said: “We delivered exceptionally strong performance in 2006.

“We successfully transitioned our pain franchise to Fentora, our next-generation rapid-onset opioid and accelerated the remarkable growth of Provigil, even after eight years on the market.”

He added that the company would look to develop its oncology pipeline as a basis for future growth.

Cephalon has announced that it is raising its guidance for basic adjusted income per common share in 2007 by $0.03 to $3.90-$4.00, with a total sales guidance of $1.675-$1.725 billion for the year.

Earlier this month, the company announced the promotion of Mike Barr to the position of vice president and general manager of the firm’s manufacturing, packing and distribution site in Salt Lake City, Utah.