Cephalon reports second-quarter financials

Cephalon has announced its financial figures for the second quarter of the 2007 fiscal year.

The firm reported sales of $435.2 million (215 million pounds) for the period, up from $430.7 million for the same quarter last year. This figure exceeded the company’s previous guidance for the period by $10 million.

During the second quarter, the company reported a basic loss per common share of $0.06, while basic adjusted income per common share excluding amortisation and other expenses dropped from $1.51 last year to $1.14.

Central nervous system sales at the firm rose by 18 per cent for the quarter on last year’s figures, while pain franchise sales dropped 24 per cent and other sales increased by 15 per cent.

Frank Baldino Jr, chairman and chief executive officer of Cephalon, said: “We are pleased with the strong sales performance in the second quarter of 2007, which more than offset the impact of generic erosion to the Actiq franchise.”

He added that the second quarter saw the company increase its investment in its oncology programmes and Nuvigil, while it also started preparation work to file Treanda as a treatment for chronic lymphoctic leukaemia with regulators.

On the opening of the markets at the start of June 2007, Cephalon was added to the Nasdaq-100 index, with its stock also being part of the PowerShares QQQ listing.