Intellipharmaceutics International Inc. (IPCI)

[mopar44o]

Earnings out...


• In February 2015, we announced that we had entered into an agreement with Teva Pharmaceuticals USA, Inc. ("Teva") by which we had granted Teva an exclusive license to market in the United States an extended release drug product candidate for which we have an ANDA pending FDA approval. The agreement contemplated the FDA granting regulatory approval by a date certain, which did not occur, and the agreement has been terminated subsequent to year-end. The Company is in discussions with Teva concerning an alternate product candidate. There can, however, be no assurance that an acceptable alternate product candidate, or any terms relating thereto, will be agreed upon.