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Original Source: FD (FAIR DISCLOSURE) WIRE
CORPORATE PARTICIPANTS
. Robert Grupp, Cephalon, Inc., VP, Corporation Communications . Frank Baldino, Cephalon, Inc., Chairman & CEO . Kevin Buchi, Cephalon, Inc., SVP & CFO . Robert Roche, Cephalon, Inc., SVP, Pharmaceutical Operations . Paul Blake, Cephalon, Inc., SVP, Clinical Research and Regulatory Affairs . John Osborn, Cephalon, Inc., SVP, General Counsel and Secretary
OVERVIEW
CEPH reported 2003 sales of $685.3m and an adjusted EPS of $1.54. The co. secured an expanded US label for Provigil to treat apnea, shift work sleep disorder and narcolepsy. EPS guidance for 2004 is expected to be $2.00 per share, up 30% over 2003. Q&A Focus: new indication for Provigil, GM, international sales, CEP-1347, tax rate, Actiq, Gabatril and product sales.
FINANCIAL DATA
A. Key Data From Call 1. Total Revenues 2003: $714.8m, up 41% over 2002. 2. Product sales 2003: $685.3m, up 47% over 2002. 3. SG&A 2003: $252m. 4. R&D 2003: $170.3m, or 24% of revenues. 5. Cash balance as of Dec. 31: $1.2b.