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Asset Purchase Agreement

 

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Title:

Asset Purchase Agreement

Entities:

Amarin Corp. plc; AmerisourceBergen Corp.; Cardinal Health, Inc.; Elan Pharmaceuticals, Inc.; Hi-Tech Pharmacal Co.; Valeant Pharmaceuticals International; Watson Pharmaceuticals Inc.

Date:

2004

Size:

388KB total

Price:

$53

ID:

#398612

 

 

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ASSET PURCHASE AGREEMENT

 

 

BY AND BETWEEN

 

VALEANT PHARMACEUTICALS INTERNATIONAL,

 

AS BUYER

 

 

AND

 

 

AMARIN CORPORATION PLC

 

AND

 

AMARIN PHARMACEUTICALS COMPANY LIMITED,

 

AS SELLERS

 

 

DATED FEBRUARY      , 2004

 



 

TABLE OF CONTENTS

 

ARTICLE 1

 

 

DEFINITIONS AND USAGE

 

1.1

Definitions

 

1.2

Usage

 

 

 

 

ARTICLE 2

 

 

SALE AND TRANSFER OF THE ACQUIRED ASSETS; CLOSING

 

2.1

Assets to be Sold

 

2.2

Purchase Price

 

2.3

Assumed Liabilities

 

2.4

Allocation

 

2.5

Closing

 

2.6

Closing Obligations

 

2.7

API Adjustment Amount and Payment

 

 

 

 

ARTICLE 3

 

 

REPRESENTATIONS AND WARRANTIES OF SELLERS AS TO SELLERS

 

3.1

Organization and Good Standing

 

3.2

Enforceability; Authority; No Conflict

 

3.3

Title to Acquired Assets; Encumbrances

 

3.4

Financial Statements

 

3.5

Material Amarin Contracts

 

3.6

Absence of Certain Changes and Events

 

3.7

Intellectual Property

 

3.8

Legal Proceedings; Orders

 

3.9

Product Registrations.

 

3.10

Solvency

 

3.11

Disclosure

 

3.12

Brokers or Finders

 

 

 

 

ARTICLE 4

 

 

REPRESENTATIONS AND WARRANTIES OF SELLERS AS TO API

 

4.1

Organization and Good Standing

 

4.2

Enforceability; Authority; No Conflict

 

4.3

Capitalization

 

4.4

Financial Statements

 

4.5

Books and Records

 

4.6

Title to Assets; Encumbrances

 

4.7

Condition and Sufficiency of Assets

 

4.8

Accounts Receivable

 

4.9

Inventory

 

4.10

No Undisclosed Liabilities

 

4.11

Taxes

 

 

i



 

4.12

No Material Adverse Change

 

4.13

Employee Benefits

 

4.14

Compliance with Legal Requirements; Governmental Authorizations

 

4.15

Legal Proceedings; Orders

 

4.16

Absence of Certain Changes and Events

 

4.17

Material API Contracts; No Defaults

 

4.18

Insurance

 

4.19

Environmental Matters

 

4.20

Employees

 

4.21

Labor Relations; Compliance

 

4.22

Intellectual Property Assets

 

4.23

Certain Payments

 

4.24

Relationships with Affiliates

 

4.25

Solvency

 

 

 

 

ARTICLE 5

 

 

REPRESENTATIONS AND WARRANTIES OF BUYER

 

5.1

Organization and Good Standing

 

5.2

Authority; No Conflict

 

5.3

Certain Proceedings

 

5.4

Brokers or Finders

 

5.5

Investment Representation

 

 

 

 

ARTICLE 6

 

 

COVENANTS OF AMARIN PRIOR TO CLOSING

 

6.1

Access and Investigation

 

6.2

Conduct of Amarins Business

 

6.3

Operation of APIs Business

 

6.4

Negative Covenant

 

6.5

Required Approvals

 

6.6

Notification

 

6.7

No Negotiation

 

6.8

Best Efforts

 

6.9

Interim Financial Statements

 

6.10

Payment of API Liabilities

 

 

 

 

ARTICLE 7