Cephalon Q1 results

Published: 6-May-2004
Media


US biotech company Cephalon has reported first quarter 2004 revenue of $215m, which includes a $4.2m pre-tax gain associated with benefits changes at Cephalon France and a $1m pre-tax charge related to the early retirement of debt. These results compare with revenue of $144m in the first quarter 2003.

Strong prescription growth continues to drive increased sales for the company's three key products. Sales of Provigil (modafinil) tablets [C-IV] increased 69% over the first quarter of 2003 to $94.5m. Sales of Actiq (oral transmucosal fentanyl citrate) [C-II] increased 52% to $70.2m, and sales of Gabitril (tiagabine hydrochloride) increased 79% to $22.7m. In addition, Cephalon reported other product sales of $23m in the first quarter of 2004.

'Continued strong growth in sales has enabled Cephalon to consistently report record earnings over the past several years,' said Dr Frank Baldino Jr, chairman and CEO of Cephalon. 'What is notable about 2004 is that we are positioned for yet another year of strong earnings growth while investing meaningfully in the development of new products and additional indications for our existing products.'

  

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