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Biotechnology company Cephalon Inc. said Monday that Chairman and CEO Frank Baldino Jr. will not be resuming his duties at the company in 2010 and will remain on a medical leave of absence indefinitely.
In August, the company said Baldino took a medical leave, but did not provide additional details.
J. Kevin Buchi, the company's chief operating officer, will continue to perform Baldino's day-to-day responsibilities pending his return.
Cephalon shares fell 43 cents to close at $65.49.