Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (Date of earliest event reported) November
3, 2006
Interpharm
Holdings, Inc.
(Exact
name of Registrant as specified in charter)
|
Delaware
|
0-22710
|
13-3673965 |
|
(State
or other jurisdiction
of incorporation)
|
(Commission File Number)
|
(IRS
Employer Identification No.) |
75
Adams Avenue, Hauppauge, New York 11788
(Address
of principal executive offices)
(Zip
Code)
Registrant's
telephone number, including area code: (631)
952-0214
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
oWritten
communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting
material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR240.14d-2(b))
oPre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Items
1.01 and 1.02 Entry
Into and Termination of Material Definitive Agreements
On
November 3, 2006, an agreement entered into between Interpharm, Inc. (the
“Company”) and Watson Laboratories, Inc. (“Watson”) became effective, pursuant
to which: (i) Interpharm and Watson terminated their Manufacturing and Supply
Agreement dated as of October 14, 2003 (the “Supply Agreement”) pursuant to
which Interpharm manufactures and supplies, and Watson distributes and sells
generic Vicoprofen®
(7.5 mg
hydrocodone bitartrate/200 mg ibuprofen) tablets and (ii) Interpharm reacquired
from Watson its rights to market and sell generic Vicoprofen®
for a
purchase price of $2 million payable at the rate of $500,000 per year over
four
years beginning from the first anniversary of the effective date of the
agreement.
In
connection with Watson's merger with Andrx Corporation, Watson agreed to divest
the Company's generic Vicoprofen®
product.
Interpharm
will continue to manufacture generic Vicoprofen®,
but
will now begin to market and sell it and retain all sales proceeds which had
previously been shared with Watson under the Supply Agreement.
Item
9.01 Financial
Statements and Exhibits
Exhibit
99.1 Termination
and Release Agreement between Interpharm, Inc. and Watson Laboratories,
Inc.
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| |
|
|
| |
INTERPHARM
HOLDINGS, INC. |
|
|
|
| November
8, 2006 |
By: |
/s/
George
Aronson
|
| |
George Aronson |
| |
Chief
Financial Officer |