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Biotech / Medical : CEPH - CEPHALON -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (49)	8/5/2003 3:15:08 PM
From: Icebrg	Respond to of 109

Cephalon "overweight," target price raised -update Updated Tuesday, August 05, 2003 10:59:17 AM ET J.P. Morgan Securities NEW YORK, August 5 (New Ratings) - Analysts at JP Morgan Securities reiterate their “overweight” rating on Cephalon, Inc (CEPH), while raising their estimates for the company. The target price has been raised from $54 to $58. In a research note published this morning, the analysts mention that the company’s results in the last quarter were impressive. JP Morgan expects the FDA meeting on September 25 to mainly decide on the wordings of the inidications of Provigil in the treatment of "sleepiness associated with disorders of sleep and wakefulness." The analysts believe that the indication is likely to be accretive to the company’s 2004 revenues. JP Morgan has raised its EPS estimate for 2003 from $1.50 to $1.51.

To: Icebrg who wrote (49)	8/6/2003 5:08:35 AM
From: Icebrg	Read Replies (2) \| Respond to of 109

Sales development Quarterly Q2_03 Q1_03 Q4_02 Q3_02 Q2_02 Q1_02 Q4_01 Q3_01 Q2_01 Q1_01 Provigil 69,5 55,8 54,9 50,2 47,0 44,2 39,7 53,7 29,9 27,0 Actiq 52,7 46,2 43,9 35,0 28,5 19,3 20,8 14,0 9,8 6,6 Gabitril 14,6 12,7 15,1 13,4 10,1 10,2 6,4 6,3 4,7 7,2 Groupe Lafon 23,5 22,9 25,2 23,7 23,1 22,2 0,0 Product sales 160,3 137,6 139,1 122,3 108,7 95,9 66,9 74,0 44,4 40,8 Contract rev. 8,6 7,1 5,3 8,0 12,0 15,7 7,8 9,9 11,9 6,3 Total revenues 168,9 144,7 144,4 130,3 120,7 111,6 74,7 83,9 56,3 47,1 12 m figures Jul-Jun Apr-Mar 2002 2001 2000 1999 1998 Provigil 230,4 207,9 196,3 150,3 72,1 25,4 0,7 Actiq 177,8 153,6 126,7 51,2 15,2 2,2 0,2 Gabitril 55,8 51,3 48,8 24,6 4,4 Groupe Lafon 95,3 94,9 94,2 Product sales 559,3 507,7 466,0 226,1 91,7 27,6 0,9 Contract rev. 29,0 32,4 41,0 35,9 20,2 23,8 15,4 Total revenues 588,3 540,1 507,0 262,0 111,9 51,4 16,3