Cephalon beats Street, cuts sales guidance

CEPH posted third quarter adjusted EPS of $0.78, beating by $0.08 the Street's $0.70 estimate and up 4% from $0.75 in the third quarter of 2004. Quarterly sales were up 16% to $294.4 million from $253.6 million during the same period last year. Sales of narcolepsy and sleep disorder drug Provigil increased 32% to $134.5 million from $102 million in the third quarter of 2004. Sales of Actiq fentanyl for breakthrough cancer pain fell 2% to $100.2 million from $102.7 million. ...