Navigation Links
Cephalon Lodges Bidder's Statement for A$167 Million Offer for ChemGenex Pharmaceuticals
Date:4/13/2011

FRAZER, Pa., April 13, 2011 /PRNewswire/ -- Cephalon, Inc. (Nasdaq: CEPH) today announced that its wholly-owned subsidiary, Cephalon CXS Holdings Pty Ltd (Cephalon), has lodged the offer document (Bidder's Statement) for its A$0.70 a share offer for ChemGenex Pharmaceuticals Limited (ASX: CXS) (ChemGenex) with the Australian Securities and Investments Commission.

Cephalon is offering a 58 percent premium to the one-month volume weighted average price of ChemGenex up to March 29, 2011, and a 59 percent premium to the closing price on March 24, 2011, the last trading day prior to the announcement of Cephalon's offer.  The offer is unanimously recommended by ChemGenex's directors in the absence of a superior proposal.

"The addition of ChemGenex's compounds supports our commitment to building a world-class pipeline that delivers first-in-class therapies to patients suffering from serious, often life-threatening medical conditions," said Kevin Buchi, Chief Executive Officer at Cephalon.

Cephalon, Inc., through its wholly-owned subsidiary, Cephalon International Holdings, Inc. (Cephalon International), acquired a pre-bid shareholding of 27.57 percent by purchasing shares pursuant to call option agreements with two of ChemGenex's major shareholders, Merck Sante S.A.S. and Stragen International N.V., and converting A$15 million of convertible notes issued by ChemGenex to Cephalon International in October 2010.

The Bidder's Statement is expected to be dispatched to ChemGenex shareholders on April 18, 2011. The offer period is scheduled to commence on that date and will close on May 23, 2011 (unless extended).

The takeover is subject to a number of customary closing conditions, including a 90% minimum acceptance condition.

Cephalon has established a shareholder information line for ChemGenex shareholders.

The contact details are:Within Australia:1800 072 766Outside Australia:+61 2 8280 7152Cephalon is being advised by BofA Merrill Lynch and Johnson Winter & Slattery.

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 http://www.cephalon.com/.

In addition to historical facts or statements of current condition, this press release may contain forward-looking statements in relation to Cephalon.  Forward-looking statements provide current expectations or forecasts of future events.  These may include statements regarding anticipated scientific progress on research programs, development of potential pharmaceutical products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for products, sales and earnings guidance, and other statements regarding matters that are not historical facts.  You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" or other words and terms of similar meaning.  The performance and financial results of Cephalon could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries as well as more specific risks and uncertainties facing the relevant company such as those set forth in its recent filings with the U.S. Securities and Exchange Commission or other applicable regulatory authorities.  Given these risks and uncertainties, any or all of these forward looking statements may prove to be incorrect.  Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, neither Cephalon intend to update publicly any forward-looking statement, except as required by law. The Private Securities Litigation Reform Act of 1995 permits this discussion.

Cephalon Contacts:United StatesMedia:Investor Relations:Natalie de Vane

Chip MerrittSr. Director, Corporate Communications

VP, Investor RelationsCephalon

Cephalon+1 610-727-6536 (office)

+1 610-738-6376 (office)ndevane@cephalon.com

cmerritt@cephalon.comFritz Bittenbender

Joe MarczelyVP, Public Affairs

Manager, Investor RelationsCephalon

Cephalon+1 610-883-5885 (office)

+1 610-883-5894 (office)fbittenb@cephalon.com

jmarczely@cephalon.comAustraliaDavid Petrie/Michael GregoryMerrill Lynch+61 (0)3 9659 2816/+61 (0)3 9659 2343
'/>"/>

SOURCE Cephalon, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Valeant Pharmaceuticals Files Presentation for Cephalon Stockholders
2. Valeant Pharmaceuticals Proposes to Acquire Cephalon, Inc. for $73 Per Share in Cash
3. Cephalon Launches Recommended Takeover Bid For Australian Biopharmaceutical Company, ChemGenex Pharmaceuticals Limited
4. Cephalon Wins FENTORA Patent Suit Against Watson
5. Cephalon Announces Definitive Agreement to Acquire Gemin X
6. Cephalon Reported Record Sales, Adjusted Net Income and Cash From Operations in 2010
7. Cephalon Signs Option Agreement to Acquire Assets from Alba Therapeutics
8. ImmunGene Announces Multi-Target R&D Collaboration With Cephalon Australia for Interferon Payload Technology
9. Cephalon Receives Complete Response Letter for NUVIGIL for the Treatment of Excessive Sleepiness Associated With Jet Lag Disorder
10. Cephalon Appoints J. Kevin Buchi as Chief Executive Officer and Member of Cephalon Board of Directors
11. Cephalon to Webcast Investor Day
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/27/2017)...  Impax Laboratories, Inc. (NASDAQ: IPXL ) today announced that ... Raymond James and Associates, 38 th Annual ... Orlando, FL. Cowen and Company ... March 7, 2017 in Boston, MA. ... in Miami, FL. Individuals ...
(Date:2/27/2017)... February 27, 2017 Leading Countries, Technologies and ... is expected to grow at a CAGR of 8.9% from 2016-2021 ... grow at a CAGR of 9.1% from 2016 to 2027. The ... ... will benefit you Read on to discover how you can ...
(Date:2/27/2017)... – December 2016 Revenues amounted to SEK 0.3 (0.1) ... Result after tax amounted to SEK -16.3 (-6.5) million, corresponding to ... flow from operating activities amounted to SEK -8.3 (-7.3) million ... Period full year 2016 ... to SEK -39.5 (-29.5) million Result after tax amounted to ...
Breaking Medicine Technology:
(Date:2/26/2017)... ... February 26, 2017 , ... ... the lab became the world’s first to be ISO/IEC 17025:2005 INAB accredited for ... analysis. , ISO/IEC 17025:2005 is the globally recognised standard that sets out requirements ...
(Date:2/26/2017)... ... 26, 2017 , ... IndustryArchive.Org . is announcing a new way for ... will now only pay for B.A.N.T. quality sales leads based on the Sellers decision ... the new reality that B2B buyers are controlling the sales process via the Internet ...
(Date:2/26/2017)... ... 26, 2017 , ... Functional imaging data supports improved cognition ... released today at the 1st Pan American Parkinson’s and Movement Disorders Congress. , ... in improving cognitive function in PD patients. This study, led by Ibarretxe-Bilbao et ...
(Date:2/24/2017)... MN (PRWEB) , ... February 24, 2017 , ... ... of its newly designed TaskMate Go. Core benefits and advantages built into the ... and a stylish, functional look and feel. Ability to gain the benefits embedded ...
(Date:2/24/2017)... ... February 24, 2017 , ... WHAT: , ... and recognition opportunities as well as advocacy for the state and region‘s technology ... February 23. The Council's Innovation Forecast event highlights innovation throughout the region ...
Breaking Medicine News(10 mins):