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Cephalon's 2007 Results Exceed Full Year Sales and Earnings Guidance
Date:2/12/2008

The Private Securities Litigation Reform Act of 1995 permits this discussion.

This press release and/or the financial results attached to this press release include "Adjusted Net Income," "Basic Adjusted Income per Common Share," "Adjusted Net Income Guidance, "Basic Adjusted Income per Common Share Guidance," and "Diluted Adjusted Income Per Common Share," amounts that are considered "non-GAAP financial measures" under SEC rules. As required, we have provided reconciliations of these measures. Additional required information is located in the Form 8-K furnished to the SEC in connection with this press release.

CEPHALON, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

Three Months Ended Year Ended

December 31, December 31,

2007 2006 2007 2006

REVENUES:

Sales $439,497 $473,347 $1,727,299 $1,720,172

Other revenues 10,474 11,335 45,339 43,897

449,971 484,682 1,772,638 1,764,069

COSTS AND EXPENSES:

Cost of sales 89,897 88,171 341,867 338,784

Research and development 95,037 129,340 369,115 424,239

Selling, general and

administrative 207,837 219,334 735,799 689,492

Settlement reserve - - 425,000 -

Impairment charge - - - 12,417

Acquired in-process research

and development - 5,000 - 5,000

392,771 441,845 1,871,781 1,469,932 '/>"/>

SOURCE Cephalon, Inc.
Copyright©2008 PR Newswire.
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