Cephalon's New Product Launches Pace Record ...( Company Exceeds Sales and Earnings Gu...)

Company Exceeds Sales and Earnings Guidance

Company Reiterates 2009 Earnings Guidance and Introduces Q1 2009 Guidance

FRAZER, Pa., Feb. 12 /PRNewswire-FirstCall/ -- Cephalon, Inc. (Nasdaq: CEPH) today reported 2008 sales of $1.943 billion, compared to sales of $1.727 billion for 2007, exceeding the company's previously issued guidance. Basic income per common share for the full year 2008 was $3.27. Excluding amortization expense and certain other items, basic adjusted income per common share for the full year was $5.39, compared to $4.60 for 2007 and exceeds the high end of the company's earnings guidance range of $5.20 to $5.30.

Central nervous system (CNS) franchise sales for 2008 increased 15 percent compared to 2007 to $1.049 billion. Pain franchise sales declined to $501.2 million from $512.6 million in 2007 due primarily to generic competition for ACTIQ(R) (oral transmucosal fentanyl citrate) [C-II]. AMRIX(R) (cyclobenzaprine hydrochloride extended-release capsules) sales continued to ramp up with an increase of 28 percent over the third quarter of 2008. Oncology sales were $185.6 million, an increase of 100 percent over 2007 driven by the launch of TREANDA(R) (bendamustine hydrochloride) for Injection. Sales of other products were $207.6 million compared to $212.4 million for 2007.

"The growth of AMRIX and the launch of TREANDA helped 2008 sales achieve a new record for the company," said Frank Baldino, Jr., Ph.D., Chairman and CEO. "As pleased as I am with our performance in 2008, I am even more excited about our new opportunities in the field of inflammatory diseases. Recently we announced a number of deals including the worldwide license for the drug candidate LUPUZORTM, for the treatment of systemic lupus erythematosus a
'/>"/>