Caraco Pharmaceutical Laboratories, Ltd. Announces Extension and Future Termination of Distribution Agreements With Sun Pharma (December 27th, 2010)
DETROIT, December 27, 2010 - Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD) announced that the two distribution agreements with Sun Pharmaceutical Industries Limited. (Sun) have been extended until January 28, 2012 but will each terminate following these extensions. The marketing agreement, which was originally set to expire in January 2010, was extended for a 1 year renewal last year and is being extended for an additional 1 year term. The Distribution and Sale Agreement, entered into in January 2008, had a three year term. This agreement renewed for an additional one year term when neither party opted to cancel. Caraco and the Independent Committee of Caraco's Board of Directors approached Sun and attempted to negotiate long term renewals for each agreement; however, Sun exercised its right to end the agreement s, citing margin constraints due to competitive pricing pressures. Accordingly, Sun has informed Caraco of its intention to transfer the sales and distribution of S
Mirenco Inc. – February 17, 2004 D-Max West LLC 1495 Ridgeview Drive, Suite 220 Reno, NV 89509-6334 Attn: Joel Crownover Re: Termination of Distribution Agreements Dear Mr. Crownover: (April 15th, 2004)
The purpose of this correspondence is to advise you that each Distribution Agreement between Mirenco, Inc and D-Max West LLC originally dated January 24, 2003 will be terminated effective as of March 1, 2004.