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Cephalon Announces Modafinil Receives Marketing Clearance In Australia, New Zealand and South Korea

WEST CHESTER, PA -- August 30, 2002 -- Cephalon, Inc., an international biopharmaceutical company, announced today that regulatory authorities have granted marketing approval for modafinil in Australia, New Zealand and the Republic of Korea. Cephalon licensees, CSL Limited in Australia and New Zealand and Choongwae Pharma Corporation in the Republic of Korea will market modafinil under the brand names of Modavigil® and Provigil® respectively.

Approved for the treatment of excessive daytime sleepiness (EDS) associated with narcolepsy, launch of the products in these markets is expected to occur within six months. Worldwide, modafinil is approved in more than 20 countries.

"Provigil continues to experience significant growth in the United States and European markets, and our partnerships with CSL and Choongwae provide the opportunity to extend this growth into the Asia/Pacific region," said Robert Roche, Senior Vice President, Pharmaceutical Operations at Cephalon.

Cephalon markets modafinil as Provigil® (modafinil) tablets [C-IV] in the United States and other countries. Provigil is the first drug in a new class of wake-promoting agents, which improve daytime wakefulness yet preserve the ability to sleep at night. The most common side effects associated with Provigil in clinical trials include headache, nausea, infection, nervousness, anxiety and insomnia.

CSL Limited
CSL Limited is Australia's largest domestic pharmaceutical company. CSL develops, manufactures and markets biological products for human use and markets vaccines and other prescription pharmaceuticals in Australia and New Zealand. The prescription pharmaceuticals include antibiotics, dermatologicals emergency products, neurological products, analgesic products, and urological products supplied by other manufacturers.

Choongwae Pharma
Choongwae Pharma is a leading pharmaceutical company whose products include cardiovascular and anti-cancer agents, biological products, intravenous solutions and other healthcare products. Recognized as one of the most preferred pharmaceutical companies in Korea by its customers, Choongwae Pharma is committed to providing premium-quality pharmaceutical products and services.

Cephalon, Inc.
Founded in 1987, Cephalon, Inc. is an international biopharmaceutical company dedicated to the discovery, development and marketing of innovative products to treat sleep and neurological disorders, cancer and pain.

Cephalon currently employs approximately 1,200 people in the United States and Europe. U.S. sites include the company's headquarters in West Chester, Pennsylvania, and offices and manufacturing facilities in Salt Lake City, Utah. Cephalon's major European offices are located in Guildford, England, and at Laboratoire L. Lafon in Maisons-Alfort, France.

The company currently markets three proprietary products in the United States: Provigil® (modafinil) Tablets [C-IV], GABITRIL® (tiagabine hydrochloride) and ACTIQ® (oral transmucosal fentanyl citrate) [C-II] and more than 20 products internationally. Further information about Cephalon and full prescribing information on its U.S. products is available at http://www.cephalon.com or by calling 1-800-896-5855.

In addition to historical facts or statements of current condition, this press release may contain forward-looking statements. Forward-looking statements provide Cephalon's 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, sales and earnings guidance, 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's 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.

SOURCE: Cephalon, Inc.

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