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Cephalon Exercises its Option to Acquire BioAssets Development Corporation
Date:10/21/2010

ciatica."  

The merger agreement is subject to customary closing conditions.  Upon the closing of the merger, Cephalon would purchase all of the outstanding capital stock of BDC for $12.5 million, subject to net working capital and debt adjustments set forth in the merger agreement.  BDC already received $30 million for the Cephalon option to acquire BDC, and shareholders could receive additional payments related to regulatory and sales milestones.  BDC was advised on this transaction by Extera Partners.  

About Cephalon, Inc.Cephalon is a global biopharmaceutical company dedicated to discovering, developing and bringing to market medications to improve the quality of life of individuals around the world. Since its inception in 1987, Cephalon has brought first-in-class and best-in-class medicines to patients in several therapeutic areas.  Cephalon has the distinction of being one of the world's fastest-growing biopharmaceutical companies, now among the Fortune 1000 and a member of the S&P 500 Index, employing approximately 4,000 people worldwide.  The company sells numerous branded and generic products around the world.  In total, Cephalon sells more than 150 products in nearly 100 countries.  More information on Cephalon and its products is available at www.cephalon.com.

About BioAssets Development CorporationBioAssets Development Corporation is a private company pioneering novel spine indications for emerging and marketed biologic drugs. The Company's lead initiative focuses on the development of a TNF inhibitor therapy to treat the underlying cause of pain in sciatica.  For more information, visit www.biodevco.com.

In addition to historical facts or statements of current condition, this press release may contain forward-looking statements.  Forward-looking statements provide Cephalon's curre
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SOURCE Cephalon, Inc.
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