**Exhibit 10.29****SETTLEMENT TERM SHEET AGREEMENT**     This agreement, dated September 29, 2006, is between Ethypharm S.A. France and Ethypharm S.A.Spain (individually and collectively, “Ethypharm”) and Bentley Pharmaceuticals, Inc. (“Bentley”)and Laboratorios Belmac S.A. (“Belmac”). Ethypharm, Bentley and Belmac (collectively, “theParties”) have reached a settlement of their dispute. The Parties intend to reduce the terms ofthe settlement to a written agreement for execution within the next thirty days, following approvalof their respective boards of directors. In advance of preparing the Settlement Agreement, theparties have signed this term sheet, fully intending this to be a legally binding document. Theprincipal terms of the Parties’ agreement are as follows: 1. Ethypharm will cause the lawsuit captioned *Ethypharm S.A. France andEthypharm S.A. Spain v. Bentley Pharmaceuticals, Inc.*, United States District Courtfor the District of Delaware, Civil Action No. 04-1300-SLR (the “Delaware Action”)to be dismissed with prejudice, with all parties paying their own costs andattorneys’ fees and waiving all rights of appeal.  2. Ethypharm will cause the patent litigation that it has filed againstBelmac in Spain, *Ethypharm S.A. v. Laboratorios Belmac, S.A.*, Juzgado de loMercantil N° 5, Procedimiento Ordinario 170 / 2005, filed on April 20, 2005 (the“Spanish Action”) to be dismissed with prejudice, with all parties paying their owncosts and attorneys’ fees and waiving all rights of appeal.  3. The Parties will release each other from any all claims andcounterclaims that were brought or could have been brought in the Delaware Actionor in the Spanish Action, including without limitation claims of misappropriationof trade secrets, interference with customer or advantageous commercial relationsand
 

 
   patent infringement, and will release each other from all claims and demands of anydescription that they have now or may have against each other concerning or arising outof the facts or claims concerning omeprazole, either in its organic or aqueousformulations, lansoprazole or other pellet drugs arising out of the facts or claimsasserted in the Delaware Action or the Spanish Action. The parties will furtherrelease each other from all other claims and demands that they have or may have againsteach other, through and including the execution date of the Settlement Agreement.   4. Belmac will pay Ethypharm as follows:    $ 4 million upon execution of the Settlement Agreement; and    $ 4 million paid in equal installments over the next four years.    Bentley will guarantee all such payments.  5. The Parties agree that terms of this settlement will be confidentialexcept as may be required by law, necessary to effect the terms of the settlement,or otherwise necessary for the internal business communications of the Parties.  6. Nothing in the settlement will constitute an admission of any kind oran acknowledgment of liability, including the issue of agency.  7. The Parties will return or certify the destruction of each other’sConfidential or Highly Confidential documents that were produced, with theexception of any court pleadings or appendices thereto, as provided in theStipulated Protective Order.  8. The Parties acknowledge that board approval of these terms is required,which approval shall be obtained by October 6, 2006.
 

 
   **ETHYPHARM S.A. FRANCE and** **BENTLEY PHARMACEUTICALS, INC.****ETHYPHARM S.A. SPAIN**     By: By:   /s/ Gérard M. LeDuc /s/ James Murphy   Gérard M. LeDuc, Président & CEO James Murphy, Chairman and CEOEthypharm, SA France Bentley Pharmaceuticals, Inc.194, Bureaux de la Colline 2 Holland WayBâtiment D – 92213 Saint-Cloud Cedex Exeter, New Hampshire 03833France USA   Gérard M. LeDuc, Presidente  Ethypharm, S.A Madrid Spain  **LABORATORIOS BELMAC, S.A.**   By:     /s/ Adolfo Herrera   Adolfo Herrera, Director General  Laboratorios Belmac, S, A  Calle Teide, n. 4 planta baja  Parque Empressarial “La Marina”  28700 San Sebastian de los Reyes, MADRID  Dated: September 29, 2006