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Biotech / Medical : Biotechnology & Drugs -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (223)	2/28/2004 5:00:18 PM
From: 2MAR$	Read Replies (1) \| Respond to of 232

2/12 $52~$58 CEPH reports in line, beats on revs; guides for Q1 & Y04 (CEPH) 55.36 +0.65: Reports Q4 (Dec) earnings of $0.52 per share, in line with the Reuters Research consensus of $0.52; revenues rose 46.4% year/year to $211.2 mln vs the $207.1 mln consensus. Co sees Q1 (Mar) EPS of $0.28, ex items, and revenues in the range of $210-215 mln, Reuters consensus is $0.28 and $211 mln, respectively. Co reiterates Y04 (Dec) revenue guidance of $900-950 mln and EPS of $2.00, Reuters consensus is $963 mln and $2.01, respectively Cephalon announces FDA approval of expanded label of Provigil (CEPH) 58.75 +0.75: Co announces that it has received approval from the U.S. FDA to market PROVIGIL Tablets to improve wakefulness in patients with excessive sleepiness associated with obstructive sleep apnea/hypopnea syndrome and shift work sleep disorder For patients with OSAHS, PROVIGIL is approved as an adjunct to standard treatment for the underlying airway obstruction. 23-Jan-04 16:02 ET In Play Cephalon and CIMA LABS receive FTC request for information (CEPH) 56.00 -0.32: Co and CIMA announcedthat they received a request today for additional information from FTC pertaining to companies merger. The formal request for additional supplements information already provided in the original Hart-Scott-Rodino filing and in subsequent discussions with the FTC during the past several weeks. This request extends the waiting period under the Hart-Scott-RodinoAntitrust Improvements Act of 1976 during which the FTC is permitted to review a proposed transaction. The companies expect to close this transaction upon completion of the HSR clearance process, and the satisfaction of all other closing conditions contained in the merger agreement. 20-Jan-04 07:40 ET In Play CEPH downgraded at SG Cowen 56.59: SG Cowen downgrades Cephalon (CEPH) to Mkt Perform from Strong Buy based on valuation (stock trades at the avg biotech multiple of 28x 2004 ests) as well as an uncertain long-term outlook (major patent expirations, physicians do not believe R-modafinil has a longer half-life advantage over Provigil). Cephalon (CEPH) will replace MTB in the S&P MidCap 400, while Select Comfort (SCSS) will replace Cephalon in the S&P SmallCap 600.**