Exhibit 10.1

 

[CEPHALON, INC. LETTERHEAD]

 

August 29, 2008

 

VIA OVERNIGHT COURIER

 

Takeda Pharmaceuticals North America, Inc.

1 Takeda Parkway

Deerfield, IL 60015

Attn: Dan Orlando, Vice President, Sales

 

Re:

 

Notice of Termination of Co-Promotion Agreement dated as of June 12, 2006 (the
“Agreement”) by and between Cephalon, Inc. (“Cephalon”) and Takeda
Pharmaceuticals North America, Inc. (“TPNA”)

 

Dear Mr. Orlando:

 

Cephalon hereby provides notice of termination of the Agreement pursuant to
Section 3.2(a)(iv) of the Agreement, which provides a termination right for
either party if Net Sales for the second Agreement Year were less than eight
hundred fifty million dollars ($850,000,000).   Accordingly, the Agreement shall
terminate on November 1, 2008.

 

All capitalized terms used herein and not otherwise defined shall have the
meanings ascribed to them in the Agreement.

 

Sincerely,

 

/s/ J. Kevin Buchi

 

 

J. Kevin Buchi

Executive Vice President and Chief Financial Officer

 

cc:

 

Takeda Pharmaceuticals North America, Inc.

1 Takeda Parkway

Deerfield, IL 60015

Attn: General Counsel

 

Takeda Pharmaceuticals North America, Inc.

1 Takeda Parkway

Deerfield, IL 60015

Attn: Mark Booth, President

 

--------------------------------------------------------------------------------