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AMENDMENT TO DEVELOPMENT, LICENSE
AND SUPPLY AGREEMENT
THIS AMENDMENT TO
THE DEVELOPMENT, LICENSE AND SUPPLY AGREEMENT (the
“Amendment”) is entered into as of the 23
rd day of December 2008, by and between Banner
Pharmacaps Inc., a Delaware corporation (“Banner”), and
Noven Therapeutics, LLC, (f/k/a JDS Pharmaceuticals, LLC,
(“Noven”), a Delaware limited liability
corporation.
A. Banner and Noven
entered into a Development, License and Supply Agreement dated
April 26, 2007 (the “Supply Agreement”) relating
to the development, registration, sale and marketing of certain
valproic acid products, including the Valproic Acid
Versatrol™ Product (as defined in the Supply
Agreement).
B. The parties have
agreed to amend the Supply Agreement to remove all reference to the
Valproic Acid Versatrol™ Product.
Therefore, in
consideration of the foregoing recitals, which expressly are
incorporated by reference herein and in consideration of the
covenants, representations and agreements contained below, the
sufficiency of which is acknowledged, the parties, intending to be
legally bound, hereby agree as follows:
1. The Supply
Agreement is hereby amended to remove all references to the
Valproic Acid Versatrol™ Product, with the effect that all
rights and obligations of Noven and Banner related to the Valproic
Aci
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