EXHIBIT 10.15
 XXXXXX INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL
TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED
UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.
 EXECUTION COPY
 SUPPLY AGREEMENT
 Supply Agreement Supply Agreement Effective Date Impax Laboratories, Inc., Impax Glaxo Group Limited GSK Party Parties
 RECITALS
 Whereas
 Whereas License Agreement
 Whereas
 Now Therefore
 ARTICLE 1
DEFINITIONS
  1.1 Backup Manufacturer
 1.2 Capacity Planning Forecast
 1.3 Certificate of Analysis




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1.4 Certificate of Conformance
 1.5 Certificates
 1.6 Change Control Operating Procedures
 1.7 Clinical Supply Forecast
 1.8 Consent
 1.9 Current Good Manufacturing Practices cGMPs GMPs
 1.10 Environmental, Health and Safety Guiding Principles
 1.11 Facility Impax Taiwan
 1.12 Firm Zone
 1.13 Launch Forecast
 1.14 Laws
 1.15 License Agreement
  2




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1.16 Manufacture Manufacturing
 1.17 Manufacturing Cost USA GAAP XXXXXX
 1.18 Manufacturing Invention
 1.19 Materials
 1.20 Operating Expenses
 1.21 Product
 1.22 Quality Agreement
 1.23 Regulatory Acts
 1.24 Regulatory Authority
  3




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1.25 Rolling Forecast
 1.26 Specification
 1.27 Term
 1.28 Transfer Price
 ARTICLE 2
PRODUCT SUPPLY
 2.1 Purchase and Sale
 2.2 Forecasts
 (a) Clinical Supply Forecast. Clinical Supply Forecast Full Batch Sizes
  4




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(b) Launch Forecast. XXXXXX Launch Forecast XXXXXX XXXXXX XXXXXX XXXXXX Supply Plan XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
 (c) Rolling Forecast. Rolling Forecast th
 (d) Binding Commitment. th Firm Zone th th th
  5




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(e) Capacity Planning Forecast. Capacity Planning Forecast
 (f) Forecasts for Improved Product.
 2.3 Orders.
 (a) XXXXXX XXXXXX Firm Order provided however
  6




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(b)
 2.4 Supply.
 2.5 Capacity.
  7




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2.6 Shipping and Delivery
 2.7 Business Continuity Plan.
 2.8 Allocation in the Event of Product Shortages. Shortfall th th th th
  8




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2.9 Backup Manufacturing. XXXXXX XXXXXX XXXXXX Impax Plan XXXXXX Backup Manufacturer XXXXXX Impax-Backup Manufacturer Agreement XXXXXX
  9




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2.10 Quality Agreement. Quality Agreement
 2.11 Packaging by GSK SKUs
 2.12 Key Performance Indicators. Schedule 2.12 Key Performance Indicators
 2.13 Meetings and Reports
 2.14 Continuous Improvement.
  10




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ARTICLE 3
FINANCIALS
 3.1 Price
 (a) Transfer Price XXXXXX XXXXXX Third Party Patent Costs XXXXXX XXXXXX
 (b) XXXXXX XXXXXX XXXXXX XXXXXX
  11




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(c) th th Reconciliation Report XXXXXX th th Verified
Transfer Price XXXXXX XXXXXX XXXXXX Reconciliation Review Period
 (d)
 (e)
 (f) th XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
  12




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3.2 Invoice and Payment.
 3.3 Other Manufacture Related Costs. XXXXXX XXXXXX XXXXXX
 3.4 Tax.
 (a)
 (b)
 ARTICLE 4
MANUFACTURE OF PRODUCT
 4.1 General.
  13




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4.2 Specification Changes
 (a) GSK Requested Changes
 (b) Impax Changes
 (c) Allocation of Costs.
 XXXXXX
 XXXXXX
 XXXXXX
 (d) Purchase Orders; Documentation
  14




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(e) Payment for Certain Changes
   4.3 Storage Obligations.
 4.4 Manufacturing Facility
 4.5 Premises, Equipment.
 4.6 Certificates
 4.7 Validation and Stability Studies
 (a) General XXXXXX
  15




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(b) Duties
   4.8 Materials XXXXXX Materials Certification XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
 4.9 Quality Control and Quality Assurance
 4.10 Compliance with Environmental, Health and Safety Guiding Principles Schedule 4.10 Environmental, Health and Safety Guiding Principles XXXXXX
  16




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4.11 Certain Prohibitions Potential
Contaminants
 4.12 Change Control Operating Procedure
 (a) General Change Control Operating Procedure
 (b) Amendment of Change Control Operating Procedure
 (c) Governmental Approval
  17




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ARTICLE 5
REGULATORY AND QUALITY; COMPLIANCE
 5.1 Transfer of Manufacture to Taiwan.
 5.2 GSK Assistance.
 5.3 Regulatory Inspections.
 5.4 EHS, GMP and QA Audits.
  18




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5.5 cGMP Documentation
 5.6 Records Retention
  19




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5.7 Supply Consents
 5.8 Product Consents
 ARTICLE 6
TESTING; ACCEPTANCE AND REJECTION
 6.1 Acceptance; Reliance by GSK
 6.2 Rejection; Determination of Deficiency; Notice
 (a) General
 (b) Inspection Deficiency Notice
  20




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c) Latent Defects
 (d) Determination of Deficiency
    21




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(e) Shortages
 (f) Deviation Reports. Deviation Report
 (g) Nonconformity Nonconformity
  22




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(h) Products Subject to a Nonconformity or Deviation Report
    (k) Suspension of Manufacture
 6.3 Product Complaints
  23




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6.4 Adverse Events
 6.5 Investigations.
 6.6 Corrective Action
 6.7 Certain Product Events
 (a)
  24




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(b) Contacts and Statements
 (c) Remedies
  25




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(d) Responsibility for Recalled Products
    6.8 Disposition of Certain Products
 6.9 Credits
  26




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provided however
 6.10 Product Returns from the Field
 6.11 Retained Samples
 6.12 Annual Product Review Annual Product Review
  27




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ARTICLE 7
CONFIDENTIALITY
 7.1 Confidentiality
 ARTICLE 8
INTELLECTUAL PROPERTY
 8.1 Ownership of Inventions. Manufacturing Inventions
 8.2 Disclosure of Inventions.
  28




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8.3 Prosecution and Enforcement of Patents. Prosecute and
Maintain
 8.4 Covenant Not to Sue.
 ARTICLE 9
FORCE MAJEURE
 9.1 Force Majeure. Force Majeure Event
 ARTICLE 10
REPRESENTATIONS AND WARRANTIES
 10.1 Mutual Representations and Warranties
 (a)
 (b)
  29




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(c)
 10.2 Product Warranties.
 (a)
 (b)
 (c)
 (d)
 (e)
 (f)
  30




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(g)
 10.3 Corporate Responsibility.
 (a)
 (b)
 (c)
 (d)
 (e)
 (f)
 (g)
 10.4 DISCLAIMERS.
  31




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ARTICLE 11
INDEMNIFICATION
 11.1 Indemnification by Impax
 11.2 Indemnification by GSK
 11.3 Indemnification Procedures Indemnified Party Indemnifying Party
  32




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11.4 Limitation of Liability
 ARTICLE 12
TERM AND TERMINATION
 12.1 Term Term
 12.2 Termination
 (a) Termination for Breach.
 (b) Termination Due to Termination of the License Agreement.
 12.3 Continuing Supply; Manufacture Transfer.
  33




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12.4 Performance on Termination; Survival. XXXXXX
 ARTICLE 13
INSURANCE
 13.1 Coverage Requirements. XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
 13.2 Certificates of Insurance.
  34




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13.3 Additional Insured and Waiver of Subrogation.
 ARTICLE 14
MISCELLANEOUS
 14.1 Entire Agreement; Amendment
 14.2 Notices
 If to Impax:
    
    Impax Laboratories, Inc.
30831 Huntwood Avenue
Hayward, CA 94544
Attn: President, Impax Pharmaceuticals
Fax: 510-972-7756With copies to (which shall not constitute notice):
    
    Impax Laboratories, Inc.
30831 Huntwood Avenue
Hayward, CA 94544
Attn: Legal Department
Fax: 510-972-7756
  35




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Cooley LLP
Five Palo Alto Square
3000 El Camino Real
Palo Alto, CA 94306
Attn: Marya A. Postner, Ph.D.
Fax: (650) 849-7400If to GSK:
    
    Glaxo Group Limited
Glaxo Wellcome House, Berkeley Avenue
Greenford, Middlesex
UB6 0NN, England
Attn: Company Secretary
Fax: 44 20 8 047 6904With a copy to (which shall not constitute notice):
    
    GlaxoSmithKline LLC
Five Moore Drive
Research Triangle Park, NC 27709
Attn: Paul Noll, VP, Associate General Counsel
Fax: (919) 483-2881
 14.3 No Strict Construction; Headings
 14.4 Assignment
 14.5 Performance by Affiliates
  36




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14.6 Further Actions
 14.7 Severability
 14.8 No Waiver
 14.9 Independent Contractors
 14.10 English Language
 14.11 Counterparts
 14.12 Governing Law; Dispute Resolution
 14.13 Compliance with Laws
 14.14 Debarment
  37




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In Witness Whereof,
 Glaxo Group Limited
    
    
    
    Impax Laboratories, Inc.By:
    
    /s/ Paul Williamson
    
    
    
    By:
    
    /s/ Larry HsuName:
    
    Paul Williamson
    
    
    
    
    
    Name: Larry HsuTitle:
    
    Authorised Signatory
For and on behalf of
Edinburgh Pharmaceutical
Industries Limited
Corporate Director
    
    
    
    
    
    Title: President & CEO
  38




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XXXXXX
  39




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XXXXXX
  40