FRAZER, Pa., July 14, 2011 /PRNewswire/ -- Cephalon, Inc.
(Nasdaq: CEPH) today announced that its stockholders voted to
approve the Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA)
proposal to acquire Cephalon for $81.50 per share in cash, or a total enterprise
value of approximately $6.8
billion.
The transaction remains under review by the U.S. Federal Trade
Commission and the European Commission. Cephalon and Teva
continue to operate as two independent companies pending those
clearances.
About Cephalon
Cephalon is a global biopharmaceutical company dedicated to
discovering, developing and bringing to market medications to
improve the quality of life of individuals around the world. Since
its inception in 1987, Cephalon has brought first-in-class and
best-in-class medicines to patients in several therapeutic areas.
Cephalon has the distinction of being one of the world's
fastest-growing biopharmaceutical companies, now among the Fortune
1000 and a member of the S&P 500 Index, employing approximately
4,000 people worldwide. The company sells numerous branded and
generic products around the world. In total, Cephalon sells more
than 170 products in nearly 100 countries. More information on
Cephalon and its products is available at
http://www.cephalon.com/.
In addition to historical facts or statements of current
condition, this press release may contain forward-looking
statements. Forward-looking statements provide the Cephalon 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;
market prospects for its products; 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 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.
Contacts:
Media:
Fritz Bittenbender
610-883-5855 (office)
610-457-7041 (cell)
fbittenb@cephalon.com
Natalie de Vane
610-727-6536 (office)
610-999-8756 (cell)
ndevane@cephalon.com
Investor Relations:
Chip Merritt
610-738-6376 (office)
cmerritt@cephalon.com
Joseph Marczely
610-883-5894 (office)
jmarczely@cephalon.com
SOURCE Cephalon, Inc.