Cephalon exceeds guidance for 2nd qtr

US drugmaker Cephalon exceeded its earnings guidance for the second quarter of 2008, moving into profit for the period, on a rise in sales. The firm posted net income of $60.1 million, or $0.89 per share, versus a net loss of $4.3 million in the same period of 2007. Adjusted for exceptional costs the firm's EPS reached $1.25, above the upper end of its second quarter guidance of between $1.10 and $1.20.

Revenue reached $485.0 million, an 11% rise and above posted guidance of between $455.0 million and $465.0 million. This included the firm's central nervous system franchise comprising Provigil (modafinil) and Gabitril (tiagabine HCl), which generated $234.9 million, rising 8%, and $16.3 million, up 10%, respectively. Cephalon's pain drug line includes: Fentora (fentanyl buccal tablet), flat at $36.4 million; recently-acquired product Amrix (cyclobenzapine HCl), which reached $17.1 million; and Actiq (oral transmucosal fentanyl citrate), down 30% to $38.0 million. The firm's new oncology drug, Treanda (bendamustine HCl), made $14.3 million.