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Biotech / Medical : Analysts and calls -- US Bancorp Piper Jaffray -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (18)	7/14/2003 1:05:15 PM
From: Icebrg	Respond to of 22

RESEARCH ALERT-US Bancorp cuts Cephalon to "market perform" Monday July 14, 11:57 am ET NEW YORK, July 14 (Reuters) - U.S. Bancorp Piper Jaffray on Monday said it cut its investment rating for shares of biotechnology company Cephalon Inc. (NasdaqNM:CEPH - News) to "market perform" from "strong buy." "We believe Cephalon has little hope of holding off generic competition for its flagship product Provigil," analyst Tim Coan said in a research note. Provigil is used to treat the sleep disorder narcolepsy. "We have done a search of literature in the area covered by the pertinent patent and we have found extensive prior art that we believe is likely to be used to invalidate the patent," he said. Shares of Cephalon closed at $48.15 on the Nasdaq stock market on Friday.