Cephalon has reported an increase of revenue for 2005 of 19 per cent to $1.2 billion. The firm's total sales hit $1.16 billion, a rise of 18 per cent on 2004 levels, with the biggest seller being the narcolepsy drug Provigil (modafinil) with sales of $512.8 million. However, despite these figures the company made a loss for the year of $175 million, compared with a loss of $74 million in 2004.

Cephalon chairman and chief executive Frank Baldino said: "Cephalon delivered strong top- and bottom-line growth in 2005. "We also completed a series of acquisitions and collaborations that created a fully integrated oncology business and expanded our business geographically." He added: "We continued to make progress in our plan to launch five new drugs. Finally, we eliminated uncertainty and added significant upside for our business by settling our litigation over Provigil. As a result, we enter 2006 in a position of strength, poised to deliver our best performance ever."