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Cephalon, Inc.

CEPH

Cephalon, Inc. is an international biopharmaceutical company involved in the research, development and marketing of products to treat human diseases. The Company focuses its efforts in four core therapeutic areas: central nervous system disorders, pain, cancer and addiction. In addition to conducting an active research and development program, the company markets six products in the United States and number of products in countries throughout Europe. The Company’s main product is PROVIGIL (modafinil) Tablets (C-IV), which composed approximately 43% of its total consolidated net sales during the year ended December 2006, of which approximately 94% was in the United States market. Its product, ACTIQ (oral transmucosal fentanyl citrate) (C-II), accounted for about 34% of its total consolidated net sales during 2006, of which approximately 95% was in the United States.

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