UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported) August 222, 2011

Cephalon, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware	0-19119	23-2484489
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)

41 Moores Rd.
41 Moores Road
Frazer, Pennsylvania		19355
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code (610) 344-0200

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 28.0201 ~~Results~~Other ~~of Operations and Financial Condition~~Information.

~~The~~On ~~information~~August 22, ~~under~~2011, ~~this caption is furnished by~~ Cephalon, Inc. (the “Company”) inissued ~~accordance~~a ~~with~~press ~~Securities~~release ~~Exchange~~announcing ~~Commission~~that ~~Release~~the ~~No. 33-8216.~~Company ~~This~~has ~~information~~given ~~shall~~notice ~~not~~of bean ~~deemed~~anticipated ~~“filed”~~fundamental ~~for~~change ~~purposes~~to ofholders ~~Section 18~~ of the ~~Securities~~Company’s ~~Exchange~~2.50% ~~Act~~Convertible ofSenior ~~1934,~~Subordinated asNotes ~~amended~~due ~~(the~~2014 ~~“Exchange~~and ~~Act”),~~2.00% orConvertible ~~incorporated~~Senior bySubordinated ~~reference~~Notes due 2015 in ~~any~~respect ~~filing~~of ~~under~~the previously announced merger of the ~~Securities~~Company ~~Act~~with a wholly-owned subsidiary of ~~1933,~~Teva asPharmaceutical ~~amended~~Industries Ltd., orwhich ~~the~~is ~~Exchange~~expected ~~Act,~~to ~~except~~become aseffective ~~shall~~in beOctober 2011. The ~~expressly~~Company ~~set~~hereby ~~forth~~incorporates by ~~specific~~ reference inthe ~~such~~press release dated August 22, 2011, attached hereto as Exhibit 99.1 and made a ~~filing~~part of this Item 8.01.

On August 2, 2011, the Company issued a press release announcing certain financial results for the second quarter 2011. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

In the attached press release, the Company discloses “Adjusted net income,” “Basic adjusted income per common share,” and “Diluted adjusted income per common share” for certain periods, all of which are considered “non-GAAP financial measures” under Securities and Exchange Commission rules. A “non-GAAP financial measure” is defined as a numerical measure of a company’s financial performance, financial position or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP in the Company’s financial statements. Management does not intend the presentation of non-GAAP financial measures to be considered in isolation or as a substitute for results prepared in accordance with GAAP.

For all periods presented, the Company reconciles net income on a GAAP basis to adjusted net income. Management believes that the presentation of these adjusted measures is useful to investors because it provides a means of evaluating the Company’s operating performance and results from period to period on a comparable basis not otherwise apparent on a GAAP basis, since many one-time or infrequent charges, including items that may not affect the Company’s operations, do not meet the strict GAAP definition of unusual non-recurring items. Furthermore, in preparing operating plans, budgets and forecasts, and in assessing historical performance, management relies, in part, on trends in the Company’s historical results, exclusive of these items, and provides its forecasts to investors on this basis. Finally, management believes that this presentation is useful in facilitating comparisons between the Company and other companies in its industry, many of whom exclude similar items.

Basic adjusted income per common share and diluted adjusted income per common share represent the Company’s adjusted net income, as described above, on a per share basis. Management believes that the presentation of these measures is meaningful because it provides investors with a means of evaluating adjusted net income against the Company’s previously issued adjusted income per common share guidance. In addition, in assessing the Company’s performance against its previously issued per share guidance, management uses these adjusted per share measures.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description of ~~Document~~Exhibit
99.1		Press Release of Cephalon, Inc. dated August 222, 2011

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CEPHALON, INC.
Date: August 2, 2011	By:	/s/ Wilco Groenhuysen
Date: August 22, 2011	By:	/s/ Gerald J. Pappert
		Wilco Groenhuysen
		Gerald J. Pappert
		Executive Vice President & Chief Financial Officer
		Executive Vice President, General Counsel and Secretary

EXHIBIT INDEX

Exhibit
Exhibit No.		Description of Exhibit
Number		Description
99.1		Press Release of Cephalon, Inc. dated August 22, 2011
99.1		Press Release dated August 2, 2011

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