No napping for West Chester pharmaceutical firm
Article Abstract:
In December of 1998, West Chester, PA-based Cephalon Inc. received approval from the Food and Drug Administration to market Provigil, a remedy for narcolepsy-induced daytime sleepiness. By selling the drug, Cephalon hopes to join the ranks of biotechnology firms that are profitable. Provigil is the first pharmaceutical approved for narcolepsy in 40 years. A late-stage study shows that the drug prevented patients from falling asleep 50 percent to 75 percent longer than patients who did not take the drug.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1999
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Local stock up 184% on 1st day
Article Abstract:
By the end of trading yesterday, VerticalNet Inc. of Horsham, PA, a website developer who helps companies sell to other businesses, saw its stock rise 184% after its IPO, the 10th best first-day performance by an IPO ever in the U.S. The company became a public company at $41 per share with a market value of $737.8 million.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1999
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