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The Associated Press December 6, 2010, 5:38PM ET

Cephalon CEO on indefinite medical leave

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.

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