July 14, 2011
Biopharmaceutical maker Cephalon Inc., of Frazer, said Thursday that stockholders approved the company's proposed $6.8 billion acquisition by Teva Pharmaceutical Industries Ltd. Teva, based in Israel but with large operations in the region, in May offered $81.50 a share for Cephalon. At the time, Cephalon was trying to ward off a $73-a-share hostile-takeover attempt by Canadian firm Valeant Pharmaceuticals International. The deal remains under review by the U.S. Federal Trade Commission and the European Commission.
October 12, 2006 |
Cephalon Inc. said yesterday that a late-stage clinical trial of its recently approved cancer-pain drug Fentora worked for patients suffering from chronic lower-back pain. The Frazer biotechnology company said results from a Phase 3 trial showed the lozenge, which dissolves in the mouth, had a statistically significant effect in relieving pain within 10 minutes compared with a placebo. Cephalon will present the data at the annual meeting of the American Society of Regional Anesthesia and Pain Medicine next month in San Francisco.
June 9, 1993 |
SmithKline Beecham said yesterday that it would invest up to $25 million in a West Chester firm that specializes in developing drugs to treat neurological problems. The agreement with Cephalon Inc. will focus on discovering potential medicines to reduce the debilitating effects of such conditions as stroke and traumatic injury. More than 500,000 cases of stroke occur in the United States annually, and few treatment options now are available, the companies said. Under terms of the agreement, SmithKline will pay the funds to Cephalon over a period of up to five years and allow the West Chester firm to help promote any jointly developed drugs in some major markets.
March 21, 2008 |
Cephalon Inc. received clearance from regulators yesterday to begin selling Treanda as a treatment for a rare form of leukemia. The medicine will be a new option for about 15,000 people in the United States diagnosed annually with the slow-progressing form of leukemia known as chronic lymphocytic leukemia, or CLL. The Frazer, Pa., biotech company said it hoped to make Treanda the foundation for a growing oncology business. "We are extremely excited about the future of our oncology business, particularly Treanda, which is a much-needed alternative for patients," chairman and chief executive officer Frank Baldino Jr. said after word of the approval by the Food and Drug Administration.
July 21, 2010
Cephalon Inc., a Frazier-based global biopharmaceutical company, said it is suspending its 2010 financial projections for the year based on preliminary second-quarter results that vastly exceed expectations. The company expects sales for the second quarter to be $705 million to $715 million. That is up from a previous projection of $645 million to $670 million. Projected income per share is expected to be $2.17 to $2.22, up from the estimated range of $1.65 to $1.75 The company said it will release its earnings Tuesday, when it also will update its guidance for the year.
October 14, 2011
Teva Pharmaceutical Industries Ltd., which is based in Israel but has operations in North Wales, completed its $6.8 billion acquisition of Frazer-based Cephalon Inc. The combined company, which will make and distribute branded and generic drugs, will have a presence in more than 60 countries. Cephalon Inc. became a wholly owned subsidiary of Teva and ceased to be traded on NASDAQ. Under the deal, each share of Cephalon common stock has been converted into the right to receive $81.50 in cash.
August 11, 2004 |
Shares of Cephalon Inc. fell 10 percent yesterday, a day after antitrust authorities approved a Cephalon acquisition conditional on giving a competitor rights to produce and sell a generic version of its pain drug Actiq. The Federal Trade Commission had required the West Chester company to license rights to Actiq to Barr Pharmaceuticals Inc. before it would approve Cephalon's acquisition of Cima Labs Inc. But Cephalon, whose shares closed at $43 on the Nasdaq yesterday, insisted that its $515 million acquisition of Cima would be good for shareholders, even though it means Cephalon must give up marketing its popular Actiq, a fast-acting treatment for cancer pain.
December 6, 2005 |
Cephalon Inc. is expected to announce today that it would buy a British-based pharmaceutical firm for $360 million in cash to gain three marketed cancer medicines and expand its operations in Europe. Cephalon, Pennsylvania's largest independent biotechnology company, said in a statement to be released this morning that it had an agreement with shareholders of Zeneus Holdings Ltd. to buy Zeneus Pharma Ltd., an Oxford, England, firm with 15 products, including three lead cancer drugs sold in Europe.
February 14, 2008 |
The Federal Trade Commission filed a lawsuit yesterday against Cephalon Inc. over deals it struck with four makers of generic drugs that had challenged the patent on Cephalon's biggest drug, Provigil. The agreements, which the FTC said were worth more than $200 million, would prevent four companies - Teva Pharmaceutical Industries Ltd., Mylan Pharmaceuticals Inc., Barr Laboratories Inc. and Ranbaxy Laboratories Ltd. - from selling a generic version of the sleep-disorder drug until 2012.
February 15, 2006 |
Cephalon Inc. yesterday reported lower profits and missed Wall Street expectations, but recent settlements of patent litigation involving its biggest-selling drug mean the company will have more years of exclusive sales. The Frazer drug company said it earned $18.1 million, or 30 cents a share, in the fourth quarter, compared with $78.1 million, or $1.23 a share, in the quarter a year ago. Revenue was $336.4 million, up from $299 million in the year-earlier quarter. For the full year, Cephalon posted a loss of $175 million, or $3.01 a share, compared with a loss of $73.8 million, or $1.31 a share, in 2004.