With earnings season in full swing, Fast Money is giving you the stories behind the numbers. Today, the focus is on drugmaker Cephalon (CEPH), which is surging on stronger outlook for painkillers.
The maker of sleep disorder drug Provigil reported better-than-expected earnings last month and said sales will be about $420 million compared to its previous forcast of $400-410 million. Frank Baldino Jr., founder and CEO of the company, joins the guys on the Fast Line.
Baldino says Provigil is not just a narcolepsy drug, as many people think. It has an expanded label for other sleep disorders such as obstructive sleep apnea and it is doing so well because thirty million Americans suffer from sleep disorders. He thinks his company is well well-positioned going forward with all of its businesses and he expects the “entire franchice is going to do very well this year.”