• Cephalon Inc., of Frazer, Pa., reported net income of $144 million, a 42 percent increase over the first quarter of 2009. That amounted to $1.76 per share, well above analysts' estimates and $16 million higher than the top end of the company's own estimate. The firm posted first-quarter sales of $576.7 million, up 12 percent over last year. Its central nervous system and pain franchises pulled in $307.1 million, a 14 percent increase over the same period in 2009. Pain franchise sales reached $113.6 million, a 7 percent bump. Oncology franchise sales were $110 million, a 44 percent increase over the same period last year due to strong sales of Treanda (bendamustine hydrochloride), sales that rose 62 percent over the first quarter of 2009. Its shares (NASDAQ:CEPH) closed at $63.04 Wednesday, up 23 cents.

• Onyx Pharmaceuticals Inc., of Emeryville, Calif., reported $214.4 million in global net sales of cancer drug Nexavar (sorafenib) for first-quarter 2009, a 20 percent increase over the same period last year. Nexavar is partnered with Leverkusen, Germany-based Bayer HealthCare Pharmaceuticals Inc., and revenue to Onyx from Nexavar sales totaled $62.9 million compared to $53.7 million for the same period in 2009. For the quarter, Onyx posted net income of $8.1 million, or 14 cents per share. As of March 31 the company had cash, cash equivalents and marketable securities of $585.2 million. Its stock (NASDAQ:ONXX) closed at $26.25 Wednesday, down $2.11, or 7.4 percent.