Cephalon swings back to profit in 3rd qtr

US biopharmaceutical company Cephalon saw a jump back into profitability in the third quarter of 2008, from a loss in the same period of last year, as increased revenue, particularly for new oncology drug Treanda (bendamustine HCl), and restructuring drove balances back into the black.

Revenue was up 14% to $498.5 million, with R&D expenses reduced by 6% to $88.3 million. The firm's net income swung to $112.0 million, or $1.64 per share, versus a loss of $306.8 million, or $4.58 loss per share. The company also managed to build up its cash and cash equivalents by 3% to $846.6 million compared to the end of last year.

Cephalon's central nervous system franchise, comprising Provigil (modafinil) and Gabitril (tiagabine HCl), generated $259.2 million, rising 19% vs the same quarter of last year, and $14.5 million, up 5%, respectively. Cephalon's pain drug line includes: Fentora (fentanyl buccal tablet), jumped 25% to $41.3 million; the recently-acquired product Amrix (cyclobenzapine HCl), which reached $20.5 million; and Actiq (oral transmucosal fentanyl citrate), down 36% to $35.8 million. Lastly, Treanda made $24.6 million.