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
|SOURCE Cephalon, Inc.|
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