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Cephalon Reports Strong First Quarter Earnings
Date:5/1/2008

AMRIX Growing Rapidly

TREANDA Successfully Launched in April

FRAZER, Pa., May 1 /PRNewswire-FirstCall/ -- Cephalon, Inc. (Nasdaq: CEPH) today reported first quarter 2008 sales of $433.9 million, compared to sales of $423.9 million for the first quarter 2007 and the company's sales guidance of $435 - $445 million. Basic income per common share for the quarter was $0.57. Excluding amortization expense and certain other items, basic adjusted income per common share for the quarter was $1.12, compared to $1.45 for the same period in 2007 and the company's earnings guidance range of $1.00 to $1.10.

Central nervous system (CNS) franchise sales were $226.7 million during the quarter, a 4 percent increase compared to the same period last year. Pain franchise reported strong sales of $125.7 million, a decrease of only 4 percent versus 2007, with sales of AMRIX(R) (cyclobenzaprine hydrochloride extended-release capsules) and FENTORA(R) (fentanyl buccal tablet) [C-II] largely offsetting the continued generic erosion of ACTIQ(R) (oral transmucosal fentanyl citrate) [C-II]. Oncology franchise sales were $27.5 million and do not include sales of TREANDA(R) (bendamustine hydrochloride), which was launched in April.

"We are receiving overwhelmingly positive feedback from the TREANDA launch," said Frank Baldino, Jr., Ph.D., Chairman and CEO. "In addition, prescriptions for AMRIX doubled compared to last quarter as acceptance of this product in the market continues to grow. These two products will continue to drive Cephalon sales growth."

The company is updating its guidance for 2008. Total sales guidance is $1.83-$1.88 billion. This includes CNS franchise sales of $975-$1,000 million, pain franchise sales of $500-$525 million, oncology franchise sales of $125- $150 million, and other product sales of $200-$225 million. Full year SG&A and R&D guidance is $740-$760 million and $340-$360 million, respectivel
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SOURCE Cephalon, Inc.
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