Cephalon's shopping spree

Cephalon Inc. expects the economic downturn to provide many opportunities to expand its portfolio on the cheap. Last week, the company announced its third deal in as many months, spending $100 million for an option to acquire Ception Therapeutics Inc., which has a biologic for inflammation indications.

"Three years ago, we built a cancer franchise, and now we're moving into inflammatory disease," Chairman and CEO Frank Baldino told BioCentury...