Cephalon 401k (PSP) Plan PSDS Scan 12-31-2010

This may well be the last Cephalon 401k Plan design scan. In May 2011 Cephalon and Teva signed a merger ageement with Teva paying $84.50 per share for Cephalon stock which has not done well the last 5 years. The stock is not in the Balanced portfolio which has a 5yr APR = 4.94% and a Sharpe ratio of 1.21. That is a small improvement over last year. The Cephalon 401k is a large plan and Vanguard is the Plan trustee.