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Cephalon Files Definitive Consent Revocation Statement, Commences Mailing to Shareholders
Date:4/21/2011

nterests when considering Valeant's non-binding proposal.REVOKE YOUR CONSENT ON THE WHITE CARD TODAY – DO NOT CONSENT TO VALEANT'S PROPOSALS!You can reject Valeant's efforts to take control of Cephalon by taking the following steps:1. Do not sign Valeant's gold consent card;

2. If you have signed Valeant's gold consent card, you may revoke that consent by signing, dating and mailing the enclosed WHITE Consent Revocation Card immediately; and

3. Even if you have not signed Valeant's gold consent card, you can show your support for your Board by signing, dating and mailing the enclosed WHITE Consent Revocation Card.

Regardless of the number of shares of Cephalon common stock that you own, it is important that you sign, date and mail the enclosed WHITE Consent Revocation Card to Cephalon TODAY. Thank you for your support.

Sincerely yours,

THE BOARD OF DIRECTORS OF CEPHALON, INC.

Your Consent Revocation Is Important, No Matter How Many Shares You Own.If you have questions about how to revoke your consent on the WHITE consent revocation card, or need additional assistance, please contact the firmassisting us in the solicitation of consent revocations:INNISFREE M&A INCORPORATEDTOLL-FREE: (877) 800-5186Banks and Brokers call collect: (212) 750-5833IMPORTANTWe urge you NOT to sign any gold consent card sent to you by ValeantAdditional Information:

Cephalon, Inc. (the "Company"), its directors and certain of its officers and employees may be deemed to be participants in the solicitation of consent revocations from stockholders in connection with a consent solicitation by Valeant Pharmaceuticals International, Inc. ("Valeant") to replace the Company's current Board of Directors with nominees of Valeant.

The Company has filed its definitive Consent Revocation Statement with the SEC and has mailed the definitive Consent Revocation Statement and WHITE consent revocation
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SOURCE Cephalon, Inc.
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