Amphastar Pharmaceuticals, Inc 8-K, filed Apr 22, 2022
Amphastar Pharmaceuticals, Inc. (AMPH)
About this 8-K
Amphastar Pharmaceuticals, Inc filed this 8-K on April 22, 2022, reporting on events of April 19, 2022.
Items reported
- Item 1.01: Entered into a material agreement
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ITEM 1.01. Entry into a material definitive agreement.
On April 19, 2022, Amphastar Nanjing Pharmaceuticals, Inc. (“ANP”), the Chinese subsidiary of Amphastar Pharmaceuticals, Inc. (the “Company”), entered into a contract manufacturing agreement (the “Agreement”) with Nanjing Hanxin Pharmaceutical Technology Co., Ltd. (“Hanxin”). Pursuant to the Agreement, Hanxin will develop several active pharmaceutical ingredients and finished products (the “Products”) for the Chinese market and will engage ANP to manufacture the Products on a cost plus basis (the “Transaction”). In addition, Hanxin will commit to purchase minimum purchase quantities from ANP subject to the terms and conditions set forth in the Agreement, including Hanxin filing for and obtaining any required marketing authorizations. Each of ANP and Hanxin have made customary representations, warranties and covenants in the Agreement.
As previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, and June 30, 2021, Dr. Jack Zhang, Dr. Mary Luo and certain members of their family beneficially own a majority of the equity interest in Hanxin, and the Agreement with Hanxin represents a related party transaction. Accordingly, the independent disinterested members of the Company’s Board of Directors evaluated and approved the Transaction and entry into the Agreement following their review of applicable considerations
The foregoing is a brief description of the material terms of the Agreement, does not purport to be a complete description of the rights and obligations of the parties thereunder, and is qualified in its entirety by reference to the copies of the Agreement that will be filed as exhibits to the Company’s Quarterly Report on Form 10-Q to be filed with the Securities and Exchange Commission (the “SEC”) for the fiscal quarter ending June 30, 2022 and incorporated herein by reference.
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.
| AMPHASTAR PHARMACEUTICALS, INC. | ||
Date: April 22, 2022 |
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| By: | /S/WILLIAM J. PETERS |
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| | William J. Peters | |
| | Chief Financial Officer and Executive Vice President | |
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