CEPHALON'S PROFIT DOWN, MISSES FORECASTS
Cephalon Inc. yesterday reported lower profits and missed Wall Street expectations,
but recent settlements of patent litigation involving its biggest-selling drug
mean the company will have more years of exclusive sales. The Frazer drug company
said it earned $18.1 million, or 30 cents a share, in the fourth quarter, compared
with $78.1 million, or $1.23 a share, in the quarter a year ago. Revenue was
$336.4 million, up from $299 million in the year-earlier quarter.