93% jump in 1st-qtr profit for Cephalon

Cephalon's profit for the first quarter of 2009 rocketed 93% year-on-year, from increased revenues and income from new sectors of the  company.

The US biopharmaceutical firm generated $520.0 million in revenue, up  17%, while R&D costs rose 27% to $103.0 million. The company's net  income reached $58.6 million, or $0.85 per share, versus $30.4 million,  or $0.45 per share, mainly due to a $14.8-million contribution from net  loss attributable to non-controlling interest. As of March 31, the firm  had $614.6 million in cash and cash equivalents, up 17% on the start of  the year.

"While the economy and various health care reform proposals create  uncertainty for investors, we are taking steps to continue to build a  world-class biopharmaceutical company," said chief executive Frank  Baldino, adding that during the period, the firm had acquired Ception  Therapeutics and the rights to Lupuzor (IPP-201101) from Immupharma, as  well as making an offer for Australia's Arana.