Cephalon Completes Acquisition of Salmedix

Cephalon announced that it has completed its previously announced acquisition of all of the outstanding capital stock of Salmedix. As a result of the acquisition, Salmedix is now a wholly-owned subsidiary of Cephalon. Cephalon will update 2005 guidance to reflect the impact, if any, of the Salmedix acquisition, the Company's previously announced tender offer for its 2-1/2 percent convertible notes and certain other transactions, when it releases second quarter earnings in early August.

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