TREANDA and AMRIX Off to Strong Starts
Cephalon Advances NUVIGIL Launch to 2009
Maintains 2008 Earnings Guidance Despite New Spending for Pre-Launch
NUVIGIL Activity and Increased AMRIX Investment
FRAZER, Pa., July 29 /PRNewswire-FirstCall/ -- Cephalon, Inc. (Nasdaq: CEPH) today reported second quarter 2008 sales of $485.0 million, compared to sales of $435.2 million for the second quarter 2007 and the company's sales guidance of $455 - $465 million. Net income for the quarter was $60.1 million and basic income per common share was $0.89. Excluding amortization expense and certain other items, adjusted net income was $84.5 million and basic adjusted income per common share for the quarter was $1.25, compared to $1.14 for the same period in 2007 and the company's earnings guidance range of $1.10 to $1.20.
Central nervous system (CNS) franchise sales were $251.2 million during the quarter, a new quarterly record and 9 percent increase compared to the same period last year. Pain franchise reported sales of $134.6 million, an increase of 3 percent versus 2007. Oncology franchise sales were $44.1 million, an increase of 86 percent versus 2007, due to robust sales of TREANDA(R) (bendamustine hydrochloride), which was launched in April and strong European sales of Myocet(R) (doxorubicin hydrochloride).
"With so many companies suffering from a myriad of economic problems, I am proud that Cephalon is reporting another solid quarter of sales and earnings growth," said Frank Baldino, Jr., Ph.D., Chairman and CEO. "In particular, it is extremely gratifying to know that patients are benefiting from our recent launches of TREANDA and AMRIX and that both of these unique products are off to great starts. An earlier launch of NUVIGIL and higher spending on AMRIX this year should provide a foundation for even stronger growth in the years ahead."
The company is updating its guidance for 2008. T
|SOURCE Cephalon, Inc.|
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