CEPHALON TO BUY ZENEUS FOR $360 MLN AS EYES EUROPE

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Cephalon Inc. (CEPH.O: Quote, Profile, Research) has agreed to buy privately held Zeneus Holdings Ltd, parent of European biotech firm Zeneus Pharma, for about $360 million in cash in a bid to accelerate its drive into the European cancer market. Cephalon said the deal should generate about $100 million in additional sales and be neutral to earnings next year. It expects the deal to add to earnings thereafter. The acquisition is expected to close no later than early in the first quarter of 2006.

Reuters (http://today.reuters.com/investing/financeArticle.aspx?type=mergersNews&storyID=2005-12-06T102223Z_01_L06561252_RTRIDST_0_HEALTH-ZENEUS-CEPHALON-UPDATE-1.XML)