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news.Cephalon has posted revenues of $745.11m for the first quarter ended 31 March 2011, compared to $596.58m for the same period in 2010.
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The company has reported a net income of $211.61m, or $2.64 per diluted share, compared to $100.33m, or $1.35 per diluted share, for the same period last year.
For the first quarter of 2011, the company’s income from operations was $175.82m, as compared to $180.78m for the same period prior year.
The company has reported first quarter 2011 net sales of $736m, a 28% increase compared to net sales of $576.7m for the first quarter of 2010.
Cephalon CEO Kevin Buchi said after analyzing a full range of strategic options their board concluded that the Teva offer provides the maximum shareholder value for Cephalon shareholders.
"Given this performance, we expect that our full year earnings will meet or even exceed our previous guidance. However, due to our pending merger with Teva announced on Monday, we will no longer be providing 2011 guidance," Buchi said.