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Cephalon

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NEWS
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.
BUSINESS
October 12, 2006 | By Linda Loyd INQUIRER STAFF WRITER
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.
BUSINESS
June 9, 1993 | By Marian Uhlman, INQUIRER STAFF WRITER
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.
BUSINESS
March 21, 2008 | By Suzette Parmley, Inquirer Staff Writer
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.
NEWS
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.
NEWS
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.
BUSINESS
August 11, 2004 | By Linda Loyd INQUIRER STAFF WRITER
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.
BUSINESS
December 6, 2005 | By Linda Loyd INQUIRER STAFF WRITER
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.
BUSINESS
February 14, 2008 | By Linda Loyd INQUIRER STAFF WRITER
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.
BUSINESS
February 15, 2006 | By Linda Loyd INQUIRER STAFF WRITER
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.
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ARTICLES BY DATE
NEWS
June 6, 2014 | By Tricia L. Nadolny, Inquirer Staff Writer
The City of Chicago is suing two Chester County drug companies that it claims orchestrated a deceptive marketing campaign to hide the dangers of painkillers, contributing to a national opioid-addiction crisis. The marketing tactics used by Malvern-based Endo Health Solutions and Frazer-based Cephalon were so successful that over two decades, opioids went from being rarely used to the most prescribed type of drug, the suit alleges. "Their deceptive messages tainted virtually every source doctors could rely on for information and prevented them from making informed treatment decisions," says the suit, filed Monday in an Illinois state court.
BUSINESS
May 3, 2014 | By David Sell, Inquirer Staff Writer
The new chief executive officer of Teva Pharmaceutical Industries Ltd., told financial analysts Thursday that the drugmaker will accelerate its previously announced cost-cutting plan, which includes layoffs and closing facilities. In hopes of "fixing the foundation," CEO Erez Vigodman said Teva is evaluating 16 more facilities after earlier identifying 11 plants that will be closed or divested. Teva's 2013 annual report on file with the Securities and Exchange Commission listed 94 "principal facilities and properties," worldwide as of Dec. 31. Teva's plant in Sellersville, Bucks County, was among the 11 facilities previously known to be closing.
BUSINESS
September 29, 2013 | By David Sell, Inquirer Staff Writer
Teva Pharmaceutical Industries Ltd., which has been under pressure from Wall Street to cut costs and which said in May it would close a Bucks County factory by 2017, has renewed leases for three facilities in Montgomery County and a fourth in Bucks County, spokeswoman Denise Bradley said Friday. Teva, based in Israel, is the world's largest generic drugmaker by revenue. In its 2012 annual report, Teva included its Americas' headquarters among four facilities in the North Wales area of Montgomery County.
BUSINESS
August 2, 2013 | By David Sell, Inquirer Staff Writer
Teva Pharmaceutical Industries Ltd. reported a net loss of $452 million in the second quarter of 2013 because of slightly lower revenue for the period but mostly because of legal bills amounting to $1.4 billion. Indirectly, part of the legal bill hits the books now because of June's Supreme Court ruling in an antitrust case, favoring the Federal Trade Commission and hurting drug companies that engaged in "reverse payments," or pay-to-delay deals. Teva said Thursday it had an "agreement in principle" to settle class-action lawsuits related to several such cases, involving the drug Provigil, used to treat excessive sleepiness, and would take a charge of $485 million against second-quarter earnings.
BUSINESS
June 3, 2013 | By David Sell, Inquirer Staff Writer
Teva Pharmaceutical Industries Ltd., which has its Americas headquarters in Montgomery County, is most commonly known for selling generic drugs, but in the last decade it has tried to sell more of its own brands of medicine. Both parts of that business model are being challenged in patent lawsuits now at critical stages, and the outcomes could mean swings of billions of dollars in damages or sales revenue. In one case, Teva is arguing that a patent held by rival Pfizer Inc. is invalid.
BUSINESS
May 4, 2013 | By David Sell, Inquirer Staff Writer
With net income down 26.7 percent for the first quarter of this year, Teva Pharmaceutical Industries Ltd. said Thursday that it would close its Bucks County manufacturing plant in 2017. The plant is on Cathill Road in West Rockhill Township and has a Sellersville address. About 450 people work there, according to a company spokeswoman, down from 472 as of Dec. 31, 2012, as noted in Teva's 2012 annual report on file with the Securities and Exchange Commission. About 40 people were notified in April that they would lose their jobs because of reduced demand for products made at the plant, according to the spokeswoman.
BUSINESS
January 10, 2013 | By David Sell, Inquirer Staff Writer
Jeremy Levin did not give a pass to all 46,000 employees of Teva Pharmaceuticals Ltd., but some might be happy to hear that the chief executive officer said Tuesday that reducing "head count" will play only a "small role" in the company's plans to cut $1.5 billion to $2 billion in costs in the next five years. Teva is based in Israel but has its Americas headquarters in North Wales, as well as facilities in Horsham, Frazer, Sellersville, and several New Jersey locations. Indeed, part of Levin's concern since taking over as CEO on May 9 has been that the company has 74 locations in 120 countries and that its efforts were not properly focused.
BUSINESS
December 2, 2012 | By David Sell, Inquirer Staff Writer
Teva Pharmaceutical Industries Ltd. announced financial projections for 2013 and said it would cut costs by $1.5 billion to $2 billion over the next several years. However, management did not specify how many people would lose their jobs or what facilities might be closed. In a conference call with analysts, Teva chief executive officer Jeremy Levin said the cost saving would occur mostly in the next three years. After repeated questions from analysts about specifics on the cuts and how the restructuring would affect the bottom line, Levin eventually said, "I would just say, 'Wait until next week.' " Teva had previously announced it would hold an investor conference to discuss changes in strategy in New York on Dec. 11. Levin said, "Teva will look like a very different company than the Teva of the past.
BUSINESS
November 17, 2012 | By David Sell, Inquirer Staff Writer
Philadelphia-area pharmaceutical giants Teva Pharmaceutical Industries Ltd. and AstraZeneca Plc. are trying to rebound after difficult periods, and both are reportedly among the companies competing to buy Amarin Corp. because of a new heart drug about to hit the market. Amarin is headquartered in Dublin, Ireland, but has an office in Bedminster in North Jersey. The drug, Vascepa, is a capsule that - with proper diet - is meant to reduce high levels of triglycerides in adult patients, thereby improving cardiovascular health.
BUSINESS
July 5, 2012 | Inquirer Staff Report
IN THE REGION FTC approves order settling charges The Federal Trade Commission said Tuesday that it had approved an amended final order settling charges that Teva Pharmaceutical Industries Ltd.'s acquisition of Cephalon Inc., would have been anticompetitive in the markets for several current and future generic drugs. Teva, with operations in North Wales, Pa., completed the $6.8 billion purchase in October, shortly after the FTC approved the deal on a conditional basis. As part of the settlement, Teva must sell the rights and assets related to generic drugs Actiq and Amrix to Par Pharmaceuticals Inc. The FTC also requires Teva to enter into a supply agreement that will allow Par to sell a generic version of Cephalon's wakefulness drug Provigil in 2012.
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