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Biotech / Medical : CEPH - CEPHALON

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To: Icebrg who wrote (37)6/7/2003 1:45:17 PM
From: nigel bates   of 109
 
the only valid assumption I can make

Maybe. I woud be more inclined to take their statement at face value:
...Working capital and other corporate purposes, which may include the acquisition of other businesses, products, product rights or technologies and the repurchase, redemption or retirement of other existing indebtedness. Cephalon does not currently have any definitive agreements, arrangements or understandings with respect to any such uses...

They have taken advantage of market conditions to give themselves considerable financial flexibility, and I'm not sure that they have decided definitely what they are going to do with the cash.
I guess we'll just have to wait and see if they can be as opportunistic in spending the cash.
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