Posted on 06/05/2010 in Pharmaceutical Company Financials Cephalon has hailed its performance in the first quarter of 2010 after publishing business results which exceeded the high end of its expectations.
The pharmaceutical company's sales for the period came to $576.6 million (383.7 million pounds), a 12 per cent increase compared to the first quarter of 2010, with the majority of this total coming from its central nervous system franchise.
Its fastest-growing unit in the last three months was the oncology business, sales from which exceeded last year's by 44 per cent due to the success of its treatment Treanda.
As a result of this better-than-expected performance, Cephalon has now updated its guidance for the full year, with total sales now expected to fall between $2.6 billion and $2.7 billion.
Dr Frank Baldino Jr, chairman and chief executive officer of the company, said: "Our diversified product portfolio generated record cash from operations during the quarter.
"This global portfolio, coupled with our strong pipeline, will continue to drive long-term growth for the company."
Last month, Cephalon announced the completion of its takeover of Swiss pharmaceutical company Mepha, a deal which will see it strengthen its position in the generics market.Other news stories from 06/05/2010
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