Cephalon (CEPH) 10-K 2008 FY Annual report

QuickLinks -- Click here to rapidly navigate through this document

Exhibit 23.2

February 23, 2009

Cephalon, Inc.
Board of Directors
41 Moores Road,
Frazer, PA 19355

Dear Directors:

        We are providing this letter to you for inclusion as an exhibit to your Form 10-K filing pursuant to Item 601 of Regulation S-K.

        We have audited the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2008 and issued our report thereon dated February 23, 2009. Note 1 to the financial statements describes a change in accounting principle for certain inventories from last-in, first-out (LIFO) to first-in, first-out (FIFO). It should be understood that the preferability of one acceptable method of accounting over another for inventory costing has not been addressed in any authoritative accounting literature, and in expressing our concurrence below we have relied on management's determination that this change in accounting principle is preferable. Based on our reading of management's stated reasons and justification for this change in accounting principle in the Form 10-K, and our discussions with management as to its judgment about the relevant business planning factors relating to the change, we concur with management that such change represents, in the Company's circumstances, the adoption of a preferable accounting principle in conformity with Statement of Financial Accounting Standards No. 154,Accounting Changes and Error Corrections.

Very truly yours,

/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

QuickLinks

Exhibit 23.2