Intellipharmaceutics International Inc. (IPCI)

[AngeloFoca]

All Products sold or offered for sale by Mallinckrodt shall be labeled with Mallinckrodt’s name, trademarks and trade dress as per label artwork provided and paid for by Mallinckrodt

OK, so Mallinckrodt pays for all the packaging... no out of pocket for IPCI... glad to see that.

Mallinckrodt shall have the right, upon thirty (30) days advance written notice of Mallinckrodt’s intention to terminate the Agreement to Intellipharmaceutics hereunder (and, with respect to any given Product, before it has been approved by the FDA), to terminate this Agreement (i) as to Product One if the FDA has not approved the ANDA for Product One on or before December 31, 2017, DONE (ii) as to Product Two if the FDA has not approved the ANDA for Product Two on or before December 31, 2018, (iii) as to Product Three if the FDA has not approved the ANDA for Product Three on or before December 31, 2018

I assume Seroquel is product 1 and the other 2 now have until 12/1/2018 to get approval... as Dominick said... plenty of time... all that needless worry and expended energy.

I expect we will get approval on the other 2... and probably more by September 2017??? which is when FDA expects to be pretty much caught up.