FRAZER, Pa., Feb. 13 /PRNewswire-FirstCall/ -- Cephalon, Inc., (Nasdaq:
CEPH) issued the following statement in response to a complaint filed today
by the U.S. Federal Trade Commission (FTC) in U.S. District Court for the
District of Columbia challenging the validity of certain agreements entered
into by the company in late 2005 and early 2006 to settle the PROVIGIL(R)
(modafinil) [C-IV] patent infringement litigation and seeking to
permanently enjoin the Company from maintaining or enforcing these
agreements.
Cephalon stands by the strength and validity of our PROVIGIL patents
and the legal basis for these settlements. We are disappointed that the FTC
has determined to challenge these agreements as we believe they fully
comply with both the spirit and letter of the antitrust laws. As
importantly, our settlements confer a meaningful benefit to U.S. consumers
by providing for the entry of generic modafinil three years early.
Cephalon is prepared to vigorously defend itself in this matter and
expects to prevail.
About Cephalon, Inc.
Founded in 1987, Cephalon, Inc. is an international biopharmaceutical
company dedicated to the discovery, development and commercialization of
innovative products in four core therapeutic areas: central nervous system,
pain, oncology and addiction. A member of the Fortune 1000, Cephalon
currently employs approximately 3,000 people in the United States and
Europe. U.S. sites include the company's headquarters in Frazer,
Pennsylvania, and offices, laboratories or manufacturing facilities in West
Chester, Pennsylvania, Salt Lake City, Utah, and suburban Minneapolis,
Minnesota. The company's European headquarters are located in
Maisons-Alfort, France.
The company's proprietary products in the United States include:
PROVIGIL, FENTORA(R) (fentanyl buccal tablet) [C-II], TRISENOX(R) (arsenic
trioxide) injection, AMRIX(R) (cyclobenzaprine hydrochloride
extended-release capsules), VIVITROL(R) (naltrexone for extended-release
injectable suspension), GABITRIL(R) (tiagabine hydrochloride), NUVIGIL(TM)
(armodafinil) Tablets [C- IV] and ACTIQ(R) (oral transmucosal fentanyl
citrate) [C-II]. The company also markets numerous products
internationally. Full prescribing information on its U.S. products is
available at http://www.cephalon.com or by calling 1- 800-896-5855.
In addition to historical facts or statements of current condition,
this press release may contain forward-looking statements. Forward-looking
statements provide Cephalon's current expectations or forecasts of future
events. These may include statements regarding anticipated scientific
progress on its research programs; development of potential pharmaceutical
products; interpretation of clinical results; prospects for regulatory
approval; manufacturing development and capabilities; legal matters,
including the ultimate outcome of the FTC litigation or the amount of time
it will take for the FTC litigation to be resolved; market prospects for
its products; sales, adjusted net income and basic adjusted income per
common share guidance; and other statements regarding matters that are not
historical facts. You may identify some of these forward-looking statements
by the use of words in the statements such as "anticipate," "estimate,"
"expect," "project," "intend," "plan," "believe" or other words and terms
of similar meaning. Cephalon's performance and financial results could
differ materially from those reflected in these forward-looking statements
due to general financial, economic, regulatory and political conditions
affecting the biotechnology and pharmaceutical industries as well as more
specific risks and uncertainties facing Cephalon such as those set forth in
its reports on Form 8-K, 10-Q and 10-K filed with the U.S. Securities and
Exchange Commission. Given these risks and uncertainties, any or all of
these forward-looking statements may prove to be incorrect. Therefore, you
should not rely on any such factors or forward- looking statements.
Furthermore, Cephalon does not intend to update publicly any
forward-looking statement, except as required by law. The Private
Securities Litigation Reform Act of 1995 permits this discussion.
SOURCE Cephalon, Inc.
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Related links:
http://www.cephalon.com
http://www.prnewswire.com/comp/134563.html /
CONTACT:
Media, Sheryl Williams, +1-610-738-6493,
swilliam@cephalon.com, or Investors, Robert (Chip) Merritt,
+1-610-738-6376, cmerritt@cephalon.com, both of Cephalon, Inc.
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