Cephalon says panel vote won't impact 2008 profit

LOS ANGELES, May 6 (Reuters) - The vote by a U.S. Food and Drug Administration panel on Tuesday to not recommend expanding the use of Cephalon Inc's (CEPH.O) Fentora pain drug will have no impact on 2008 earnings, its chief executive said on Tuesday.

CEO Frank Baldino said the vote was a disappointment, but not surprising. "It could have gone either way," he said on a conference call.

He said Cephalon will be in discussions with the FDA over how to move forward with the drug, which the company wants to sell for use in people without cancer who have sudden flare-ups of chronic pain and are already taking opioid medications around the clock. The drug is already approved for such breakthrough pain in cancer patients.

Cephalon said it is about halfway through enrollment in a study comparing Fentora directly to pain drug OxyContin. (Reporting by Deena Beasley; editing by Jeffrey Benkoe)