Cephalon, Inc completed its previously announced acquisition of Mepha, the Swiss-based pharmaceutical company. As a result of the acquisition, Mepha is now a wholly-owned subsidiary of Cephalon. The purchase price paid at closing, inclusive of certain closing adjustments, was CHF 662.4 million (or approximately US$ 615.4 million). The purchase price is also subject to further post-closing working capital and net debt adjustments.

"We are proud to include Mepha as part of the Cephalon family. Mepha has a strong reputation for high quality products and services that deliver value to patients and healthcare professionals," said Frank Baldino, chairman and CEO of Cephalon. "This acquisition expands our presence in Europe, and we believe Mepha will contribute to our long-term growth."

Alain Aragues executive vice president and president of Cephalon Europe said, "We are pleased to add Mepha's experience and expertise, which are critical to our successful development of a balanced business mix in Europe, Middle East and Africa. Cephalon intends to leverage Mepha's brand recognition as the number one generics company in Switzerland and a prominent generic pharmaceutical company in many other markets."

Founded in 1949, Mepha is a Swiss-based innovative pharmaceutical company developing, manufacturing and marketing branded and non-branded generic products in more than 50 countries.

Cephalon is an international biopharmaceutical company dedicated to discovering, developing and bringing to market medications for difficult to treat and rare conditions.