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                                                                   Exhibit 10.30

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
ASTERISKS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933.

                              PRODUCTION AGREEMENT

      THIS PRODUCTION AGREEMENT ("Agreement") is entered into as of this 5th day
of December, 2002 ("Effective Date") by and between Nabi, a Delaware corporation
having its principal place of business at 5800 Park of Commerce Boulevard, N.W.,
Boca Raton, Florida 33487, USA ("Nabi") and Inhibitex, Inc., a Delaware
corporation having its principal place of business at 8995 Westside Parkway,
Suite 150, Alpharetta, Georgia 30004 ("Inhibitex").

                                    RECITALS

      WHEREAS Inhibitex owns the rights to MSCRAMM(TM) protein technology and
its application for the prevention and treatment of staphylococcal infections
and requires a supply of the Product (as herein defined) which satisfies the
requirements of cGMP (as herein defined), FDA (as herein defined) regulatory
requirements and Product Specifications (as herein defined) for use in humans as
a parenteral drug; and

      WHEREAS Nabi has the capability to manufacture certain intravenous immune
globulin products and intermediates of same by a proprietary process from human
plasma in compliance with cGMP and FDA regulatory requirements and Product
Specifications at its facility in Boca Raton, Florida and has agreed to
manufacture the Product for Inhibitex in accordance with the terms of this
Agreement;

      NOW THEREFORE in consideration of the mutual covenants set forth herein,
the parties hereto agree as follows:

1.    DEFINITIONS

      In this Agreement:

      1.1.  "Act" means The Federal Food, Drug, and Cosmetic Act of the United
            States of America as the same may be amended from time to time.

      1.2.  "Affiliate" means, with respect to either Party, any corporation or
            other business entity controlled by, controlling, or under common
            control with, such Party. For this purpose, "control" shall mean
            direct or indirect beneficial ownership of at least fifty percent
            (50%) of the voting stock or income interest in such corporation or
            other business entity, or such other relationship as, in fact,
            constitutes actual control.

      1.3.  "Agreement" means this agreement together with the Schedules
            attached hereto and any amendments agreed to in writing by the
            Parties from time to time.

      1.4.  "Bulk Certificate of Analysis" means the certificate of analysis,
            substantially in the form attached hereto as Exhibit I, to be
            delivered by Nabi prior to the delivery of each batch of Bulk
            Product pursuant to Section 2.5(k).

      1.5.  "Bulk Product" means human Staphylococcus immune globulin isolated
            by the Nabi Process from Inhibitex Staph Plasma in conformity with
            the Bulk Product Specifications.

      1.6.  "Bulk Product Specifications" means the specifications set forth on
            Schedule A with which the Bulk Product will comply.
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      1.7.  "By-Products" means plasma fractions, such as, but not limited to,
            Cryoprecipitate or Fraction V, produced as part of the Nabi Process.

      1.8.  "CFR 21" means Title 21 of the Code of Federal Regulations as the
            same may be amended from time to time.

      1.9.  "cGMP" means current Good Manufacturing Practices as established by
            the FDA as the same may be amended from time to time.

      1.10. "Competitive Product" means any Staphylococcus immune globulin
            (human) product or intermediate produced by Nabi and similar to or
            competitive with the Product.

      1.11. "Effective Date" means the date set forth above.

      1.12. "Facility" means Nabi's manufacturing plant in Boca Raton, Florida.

      1.13. "FDA" means the United States Food and Drug Administration.

      1.14. "Finished Product" means filled Bulk Product, in conformity with the
            Finished Product Specifications.

      1.15. "Finished Product Certificate of Analysis" means the certificate of
            analysis, substantially in the form attached hereto as Exhibit II,
            to be delivered by Nabi prior to the delivery of each batch of
            Product pursuant to Section 2.5(g).

      1.16. "Finished Product Delivery Date" means, with respect to any
            Production Run, the date by which the Parties have agreed that
            Finished Product processed during such Production Run shall be
            delivered to Inhibitex, in accordance with Section 3.2.

      1.17. "Finished Product Specifications" means the specifications set forth
            on Schedule B with which the Finished Product will comply.

      1.18. "Inhibitex Intellectual Property" means all inventions,
            improvements, discoveries or know-how solely conceived, developed or
            made by or on behalf of Inhibitex or its employees or consultants
            prior to the Effective Date relating to the Product, including,
            without limitation, the Inhibitex Technology.

      1.19. "Inhibitex Staph Plasma" means the human plasma (containing certain
            Staphylococcus aureus or epidermidis antibodies ) collected in
            FDA-licensed plasma collection facilities and provided by Inhibitex
            to Nabi.

      1.20. "Inhibitex Technology" means all patents and patent applications
            related to the Product.

      1.21. "Label Copy" means any text to be applied to any container, label or
            box or inserted into any package in connection with the manufacture
            or distribution of the Product.

      1.22. "Minimal Commercial Yield" means a yield of at least [ *** ] of
            Finished Product, available for sale or use, including Finished
            Product contained in any necessary test samples (exclusive of any
            rejected materials), for each liter of Inhibitex Staph Plasma
            processed.

      1.23. "Nabi Freezer Facility" means Nabi's facility for the storage of
            frozen plasma.

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      1.24. "Nabi Locations" collectively means the Facility and the Nabi
            Freezer Facility.

      1.25. "Nabi Intellectual Property" means all inventions, improvements,
            discoveries or know-how solely conceived, developed or made by or on
            behalf of Nabi or its employees or consultants prior to the
            Effective Date relating to the Nabi Process, including, without
            limitation, the Nabi Technology.

      1.26. "Nabi Process" means the production process used by Nabi to produce
            the Product and all written procedures and controls required to
            comply with Nabi SOPs, cGMP and FDA regulatory requirements,
            together with all modifications and improvements thereto.

      1.27. "Nabi SOPs" means Nabi's standard operating procedures.

      1.28. "Nabi Technology" means all patents and patent applications related
            to the Nabi Process.

      1.29. "Party" means Nabi or Inhibitex.

      1.30. "Plasma Delivery Date" means, with respect to any Production Run,
            the date by which the Parties have agreed that Inhibitex Staph
            Plasma to be processed during such Production Run shall be delivered
            to Nabi, in accordance with Section 3.2.

      1.31. "Prior Approval Supplement" means a change in the manufacture or
            testing of the Product that may be applicable to either a specific
            batch of Product or all Product that requires FDA approval prior to
            implementation of such change or sale of the Product.

      1.32. "Product" means human Staphylococcus immune globulin isolated by the
            Nabi Process from Inhibitex Staph Plasma in conformity with the
            Product Specifications and includes Bulk Product and Finished
            Product.

      1.33. "Product Specifications" means the Bulk Product Specifications and
            the Finished Product Specifications.

      1.34. "Production Run" means the processing into Product of any individual
            batch or batches of Inhibitex Staph Plasma.

      1.35. "Production Run Date" means, with respect to any Production Run, the
            date on which the Parties have agreed that such Production Run is
            scheduled to begin, in accordance with Section 3.2.

      1.36. "Proprietary Information" means all know-how, technology, expertise
            or information, whether or not presently owned or controlled by a
            Party or acquired or developed by a Party during the term of this
            Agreement, including any applications for licensing, patenting or
            copyrighting any of the foregoing and, with respect to Nabi, all
            Nabi Intellectual Property, and with respect to Inhibitex, all
            Inhibitex Intellectual Property.

2.    PRODUCTION OF THE PRODUCT

      2.1.  Nabi will utilize the Nabi Process to produce the Product from
            approximately [ *** ] liters of Inhibitex Staph Plasma per batch or,
            with the consent of Inhibitex, such larger batches as Nabi may
            hereafter have the capacity to process. Nabi shall use commercially

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            reasonable efforts to minimize loss of Inhibitex Staph Plasma due to
            the Nabi Process and otherwise to optimize the yield of Product.

      2.2.  During the term of the Agreement, Inhibitex estimates that it will
            purchase all Product resulting from Nabi's processing of
            approximately the following volumes of Inhibitex Staph Plasma per
            year:

                                     [ *** ]

            Nabi shall use commercially reasonable efforts to process additional
            volumes of Inhibitex Staph Plasma to meet all of Inhibitex's
            reasonable requirements for the Product.

      2.3.  The volumes of Product estimated in Section 2.2 shall be binding on
            both Parties through and including the year 2005. The cancellation
            by either Party of each or any binding Production Run shall be
            subject to the cancellation fees set forth on Schedule D. Starting
            on January 10, 2004, and on each anniversary of that date, Inhibitex
            will supply Nabi with a forecast of the volume of Inhibitex Staph
            Plasma to be processed in the then current calendar year and the
            following two (2) calendar years (i.e. the years 2004, 2005 & 2006).
            The forecast for the last year of the three-year forecast period
            will become binding on both Parties and subject to the cancellation
            fees set forth on Schedule D if, and only if, accepted by Nabi. Nabi
            shall notify Inhibitex of its acceptance or rejection of each
            forecast no later than on March 10 of the year such forecast is
            delivered. Nabi shall not reject any forecast except in good faith.
            An example of this revolving forecast can be found in Exhibit III.

            In the event that the forecast for the last year of the three-year
            forecast period is materially below or above the volume estimates
            included in Section 2.2, Inhibitex will supply Nabi with a revised
            non-binding forecast of needs for the remaining term of the
            Agreement, in order to permit Nabi to plan future production.

      2.4.  No later than one hundred twenty (120) days prior to any intended
            Production Run Date, Inhibitex shall deliver to Nabi an order (an
            "Order") setting forth with respect to the intended Production Run
            (i) the volume of Inhibitex Staph Plasma to be processed by Nabi and
            (ii) the Finished Product Delivery Date. Within ten (10) days of
            delivery of an Order to Nabi, Nabi shall notify Inhibitex whether it
            accepts the Order and provide the Plasma Delivery Date and
            Production Run Date with respect to the intended Production Run.
            With respect to each Production Run, if Inhibitex, through no fault
            of Nabi, fails to deliver the ordered volume of Inhibitex Staph
            Plasma within one hundred twenty (120) days after the Plasma
            Delivery Date, unless the Parties agree otherwise, Inhibitex shall
            be deemed to have cancelled such Production Run subject to the
            cancellation fees set forth on Schedule D.

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      2.5.  Nabi shall:

            (a)   perform or arrange for the performance of all testing
                  (including bulk-testing but excluding viral marker and potency
                  testing) of Inhibitex Staph Plasma required to comply with
                  Nabi SOPs, Product Specifications, cGMP and FDA regulatory
                  requirements; provided, however, that Inhibitex will reimburse
                  Nabi for any PCR/NAT testing in the amounts set forth on
                  Schedule E;

            (b)   produce, test (including all required in process, bulk and
                  stability testing) and ship Product of at least Minimal
                  Commercial Yield in compliance with Nabi SOPs, Product
                  Specifications, cGMP and FDA regulatory requirements;

            (c)   prepare and maintain the production, control, distribution and
                  other records required to comply with cGMP and FDA regulatory
                  requirements;

            (d)   perform quality control testing and review of raw materials,
                  in-process materials, and Product according to Nabi SOPs, and
                  Finished Product Specifications, prior to the release of
                  Finished Product to Inhibitex;

            (e)   provide, from vendors qualified by Nabi, in accordance with
                  Nabi SOPs, cGMP and FDA regulatory requirements, all inactive
                  ingredients and other manufacturing and test materials (such
                  items to be in accordance with cGMP and FDA regulatory
                  requirements) necessary in order to manufacture Product in
                  accordance with Nabi SOPs, Product Specifications, cGMP and
                  FDA regulatory requirements;

            (f)   prepare, review and maintain all records and documents
                  required for the production of the Product in accordance with
                  the batch record including batch manufacturing/finishing
                  records and supporting documents, Nabi SOPs, certificates of
                  release and in-process controls;

            (g)   prepare and provide to Inhibitex, within fifteen (15) days
                  after final testing, a copy of the Finished Product
                  Certificate of Analysis and batch and test records for each
                  batch of Finished Product manufactured;

            (h)   retain and provide appropriate personnel, facilities,
                  validated equipment and support documents to carry out the
                  production of Product as required by this Agreement;

            (i)   be responsible for all actions and activities at the Facility
                  required for compliance with the Nabi Process, including cGMP;

            (j)   arrange for the filling of the Bulk Product in accordance with
                  cGMP and FDA regulatory requirements by a filling contractor
                  acceptable to Inhibitex;

            (k)   prior to delivering any Bulk Product to a filling contractor,
                  provide to Inhibitex a Bulk Certificate of Analysis;

            (l)   dispatch all Product and other deliverables related to the
                  Product to Inhibitex or its authorized agent according to
                  Inhibitex's instructions;

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            (m)   notify Inhibitex of and provide Inhibitex, promptly, but in
                  any event within two (2) business days of receipt by Nabi's
                  Project Manager or his or her designee, with copies of all
                  communications received from the FDA respecting or that may
                  respect the Product. Nabi shall also promptly provide
                  Inhibitex with copies of Nabi's responses to all such
                  communications;

            (n)   permit representatives authorized by Inhibitex to inspect the
                  Nabi Locations and documents of Nabi which relate to the Nabi
                  Process and the Product and permit unrestricted access to
                  authorized representatives of Inhibitex to all activities
                  related to the manufacture of Product, including access to
                  operations, equipment, materials and documents and all aspects
                  of the Nabi Locations and any related premises and operations,
                  to observe and audit compliance with the Nabi Process, cGMP
                  and FDA requirements, subject to reasonable notice during
                  normal working hours;

            (o)   conduct activities identified as its responsibility in the
                  "Matrix of Responsibilities" attached as Schedule C;

            (p)   inform Inhibitex within two business days of official
                  notification of all regulatory inspections related to the
                  Product. Authorized Inhibitex representatives will be allowed,
                  but not required, to attend such inspections. The Inhibitex
                  representatives may contribute in matters related to the
                  Product;

            (q)   store, and maintain a system to ensure appropriate segregation
                  of, Inhibitex Staph Plasma and the Product in accordance with
                  cGMP and FDA regulatory requirements. Each month, Nabi shall
                  deliver to Inhibitex a temperature chart with respect to the
                  Nabi Freezer Facility;

            (r)   notify Inhibitex thirty (30) days in advance of the
                  implementation of any process, material, equipment or
                  facilities modification that could reasonably be expected to
                  affect the Product;

            (s)   notify Inhibitex of, and seek the approval of Inhibitex for,
                  any process or production deviation or test (including quality
                  control testing) or process failure within two (2) business
                  days of discovery;

            (t)   provide Inhibitex's approved Label Copy to the filling
                  contractor;

            (u)   obtain, and maintain throughout the term of this Agreement
                  property, product liability, general commercial and
                  professional liability insurance covering Nabi's obligations
                  hereunder in each case in amounts and with carriers acceptable
                  to Inhibitex and naming Inhibitex as an additional insured ,
                  and require Nabi subcontractors to obtain similar such
                  insurance coverage;

            (v)   use good faith efforts to obtain a sublicense from the New
                  York Blood Center permitting Nabi to use applicable patents in
                  connection with the services to be performed under this
                  Agreement; provided, however, that Inhibitex shall pay any
                  fees necessary to obtain such sublicense; provided, further,
                  however, that if Nabi is unable to obtain such sublicense
                  despite its good faith efforts, Inhibitex shall obtain a
                  license from New York Blood Center, on terms and conditions
                  acceptable to Inhibitex;

                                       6
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            (w)   implement current FDA regulatory requirements and industry
                  standards for product manufacture and viral inactivation;

            (x)   make a good faith effort to comply with European standards;
                  and

            (y)   cooperate with Inhibitex to use batch history to improve the
                  Product Specifications throughout the term of this Agreement.

      2.6.  Inhibitex shall at Inhibitex's expense:

            (a)   provide to Nabi Inhibitex Staph Plasma having a sufficient
                  potency for production of Product.

            (b)   within three (3) days of receipt of each Bulk Certificate of
                  Analysis, notify Nabi as to whether Nabi is authorized to
                  release the Bulk Product covered by such certificate to the
                  filling contractor;

            (c)   conduct activities identified as its responsibility in the
                  "Matrix of Responsibilities" attached as Schedule C;

            (d)   provide with each shipment of Inhibitex Staph Plasma a
                  certificate attesting that material has been collected in QPP
                  Certified and FDA-licensed facilities located in the U.S.,
                  under cGMP and in accordance with CFR 21. A unit listing,
                  including the results of all testing required by CFR 21, shall
                  also accompany each shipment;

            (e)   obtain and maintain throughout the term of this Agreement
                  general commercial insurance covering Inhibitex's obligations
                  hereunder, in each case in amounts and with carriers
                  acceptable to Nabi and naming Nabi as an additional insured.

            (f)   after receipt of a Biologics License Application ("BLA") for
                  the Product, obtain FDA lot release for each batch after
                  acceptance of the Product by Inhibitex; and

            (g)   after receipt of a BLA for the Product, provide to Nabi Label
                  Copy that has been approved by the FDA.

      2.7.  Investigational New Drug Application; BLA.

            (a)   Nabi will provide all necessary information to the FDA and
                  otherwise cooperate as reasonably requested by Inhibitex in
                  support of Inhibitex's Investigational New Drug Application
                  ("IND") and a BLA related to the Product. Inhibitex shall have
                  all right, title and interest in and to any IND or BLA related
                  to the Product.

            (b)   Nabi will file the required amendments to its BLA to allow
                  manufacturing of Product in the Facility.

      2.8.  Acceptance of Finished Product by Inhibitex. Inhibitex shall
            dispatch written notice of acceptance or rejection of any Finished
            Product batch to Nabi within four (4) weeks of receipt of the
            Finished Product Certificate of Analysis regarding such batch and
            appropriate batch records and batch and test records from Nabi.
            Notice of rejection shall specify the reasons for the rejection in
            reasonable detail. Notice of acceptance shall state

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            that the acceptance is absolute or subject to conditions specified
            in the notice, which may include FDA lot release in situations where
            a Prior Approval Supplement is required by the FDA. If no notice of
            acceptance or rejection is received from Inhibitex within four (4)
            weeks of receipt of such certificate, the Product will be deemed to
            be acceptable for release by Inhibitex. Within ten (10) business
            days of receipt of notice of acceptance of Product or the date on
            which the period for giving such notice expires (as the case may
            be), Inhibitex shall provide written instructions to Nabi for the
            delivery of Product to Inhibitex or its authorized agent.

3.    SHIPPING, TITLE, RISK OF LOSS, RECORD RETENTION

      3.1.  Shipping/Title/Risk of Loss for Inhibitex Staph Plasma.

            Inhibitex will be responsible for the shipping of Inhibitex Staph
            Plasma in accordance with cGMP and FDA regulatory requirements to
            the Nabi Freezer Facility. The Inhibitex Staph Plasma will be kept
            in the Nabi Freezer Facility in accordance with Nabi SOPs, cGMP and
            FDA regulatory requirements until ready to be sent to the Facility
            for processing into the Product.

            Inhibitex shall at all times retain sole title to the Inhibitex
            Staph Plasma and all proteins contained therein.

            Risk of loss for the Inhibitex Staph Plasma shall remain the
            responsibility of Inhibitex until the Inhibitex Staph Plasma is
            delivered to the Nabi Freezer Facility.

      3.2.  Shipping/Title/Risk of Loss for Finished Product.

            Shipment of Finished Product shall be F.O.B. origin (Nabi's Facility
            or warehouse) to the destination designated by Inhibitex. The
            shipping agent and/or carrier shall be selected by Inhibitex.
            Shipping schedules shall be selected by Inhibitex and shall be
            agreed to by both Inhibitex and Nabi. All freight, insurance,
            handling and forwarding agent's fees, taxes, storage and all other
            charges applicable to Finished Product, if any, shall be the
            responsibility of Inhibitex.

            Inhibitex shall at all times retain sole title to the Bulk Product,
            Finished Product and any By-Products.

            Risk of loss for the Product shall remain the responsibility of Nabi
            until the Product is delivered to Inhibitex's shipping agent from
            Nabi's warehouse or Facility.

      3.3.  Production Records.

            Nabi agrees to maintain records in accordance with the applicable
            FDA rules and regulations relative to the materials used in the
            Product and processing thereof in accordance FDA regulatory
            requirements. Upon Inhibitex's request with a ten (10) business day
            notice and at Inhibitex's expense, Nabi shall permit Inhibitex
            and/or an independent auditor selected by Inhibitex to have access
            to such records from time to time during ordinary business hours to
            verify compliance by Nabi with such rules and regulations. Nabi
            shall notify Inhibitex of any intention to dispose of such records
            and Inhibitex may thereafter remove such records at it own expense.

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4.    SUPERIORITY

            No provision on Inhibitex's purchase order form or on Nabi's general
            conditions of sale or invoice which may purport to impose different
            conditions upon Inhibitex or Nabi shall modify or otherwise alter
            the terms of this Agreement.

5.    DISCLAIMER/LIMITED LIABILITY

            NOTWITHSTANDING ANYTHING ELSE IN THIS AGREEMENT, IN NO EVENT WILL
            EITHER PARTY HAVE ANY LIABILITY FOR ANY LOSS OF INCOME, PROFIT,
            INTEREST OR SAVINGS BY THE OTHER PARTY OR FOR ANY INDIRECT,
            INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR SPECIAL DAMAGES SUFFERED BY
            THE OTHER OR BY ANY THIRD PARTY, ARISING FROM OR RELATED TO THIS
            AGREEMENT, REGARDLESS OF THE FORM OF ACTION, AND WHETHER IN
            CONTRACT, INDEMNITY, WARRANTY, STRICT LIABILITY OR TORT (INCLUDING,
            WITHOUT LIMITATION, NEGLIGENCE), OR ANY OTHER LEGAL OR EQUITABLE
            GROUNDS, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF
            SUCH LOSSES OR DAMAGES.

            The foregoing limitation shall not apply to the costs incurred by
            Inhibitex to obtain and audit a new replacement manufacturer and to
            conduct new clinical trials if Nabi, in order to pursue a
            potentially more economically advantageous alternative, fails or
            refuses to perform in good faith any of its material obligations
            under this Agreement.

6.    PRICE AND PAYMENT

      6.1.  Processing Fees. Subject to Section 6.2, Inhibitex shall pay to Nabi
            the processing fees set forth on Schedule D in consideration of the
            services provided by Nabi pursuant to this Agreement.

      6.2.  Non-Payment.

            (a)   Inhibitex shall not be required to make any payment for any
                  Product that (i) does not meet the Product Specifications or
                  comply with cGMP or FDA regulatory requirements, (ii) is not
                  manufactured as required by the Nabi Process, unless the prior
                  written consent of Inhibitex to such deviation from the Nabi
                  Process has been obtained or such deviation does not, in the
                  judgment of Inhibitex, adversely affect the Product, (iii) is
                  not delivered, through no fault of Inhibitex, within one
                  hundred twenty (120) days after the Finished Product Delivery
                  Date applicable to the Production Run in which such Product
                  was processed, unless the Parties agree otherwise, or (iv)
                  beginning January 1, 2004, does not meet the Minimal
                  Commercial Yield. Any dispute regarding whether Product meets
                  the Product Specifications, cGMP, FDA regulatory requirements
                  or Minimal Commercial Yield shall be resolved by an
                  independent third-party laboratory to be selected by mutual
                  agreement of the Parties. The determination of such laboratory
                  shall be final and binding upon the Parties.

                  If any batch of Product (i) fails to meet Product
                  Specifications, (ii) fails to comply with cGMP or FDA
                  regulatory requirements, (iii) is not manufactured as required
                  by the Nabi Process or (iv) beginning January 1, 2004, does
                  not meet the

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                  Minimal Commercial Yield, in any case, due solely to Nabi's
                  negligence in processing such batch, Inhibitex shall not be
                  responsible for the costs associated with the processing of
                  such batch and Nabi shall reimburse Inhibitex for the actual
                  cost of replacing the Inhibitex Staph Plasma from which such
                  batch was processed. If a batch of Product fails to meet
                  Product Specifications due solely to Inhibitex's error or
                  negligence, Inhibitex will be responsible for the costs
                  associated with the processing of such batch. If a batch of
                  Product fails to meet Product Specifications for any other
                  reasons, the parties shall split the cost of processing such
                  batch and the actual cost of replacing the Inhibitex Staph
                  Plasma from which such batch was processed in proportion to
                  their relative fault as they mutually agree. If the Parties
                  are unable to agree on their relative fault with respect to
                  such failure within twenty (20) days after such failure is
                  finally determined, their respective fault shall be determined
                  in accordance with Section 20.11 below.

      6.3.  Payments. Inhibitex shall pay all amounts required to be paid to
            Nabi pursuant to this Agreement no later than thirty days from the
            date of invoice in accordance with the instructions set forth on
            Schedule D. Interest at a rate equal to prime commercial lending
            rate of the Bank of America from time to time plus 1% shall be paid
            on any payments received after thirty (30) days from the date of the
            applicable invoice.

      6.4.  Additional Costs.

            (a)   Inhibitex shall pay Nabi [ *** ] on the Effective Date to
                  compensate Nabi for the costs it incurs for specifications,
                  dedicated equipment, process development, support data and
                  regulatory affairs support.

            (b)   Inhibitex shall reimburse Nabi for one half of the reasonable
                  costs incurred by Nabi in the construction of a cold thaw room
                  in the Facility (up to a maximum of [ *** ]) upon completion
                  of such construction; provided, however, that such
                  construction shall be completed no later than such one year
                  after the Effective Date.

            (c)   Inhibitex shall reimburse Nabi for any material costs incurred
                  as a result of viral inactivation, process, or facility
                  modifications resulting from mandatory changes in industry
                  standards, FDA regulatory requirements and/or cGMP or, if
                  applicable to the Product, European regulatory requirements.
                  The amount that Inhibitex shall pay to Nabi under this 6.4(c)
                  will be based on whether the mandatory modifications are
                  applicable to products manufactured in the Nabi facility other
                  than the Product, to the Facility in general, or to the
                  Product only. If the modifications relate to products
                  manufactured in the Nabi facility other than the Product or to
                  the Facility in general, the costs will be divided among all
                  affected parties in proportion to the ratio of the volumes of
                  material processed by Nabi on behalf of each such party in the
                  year the modifications are implemented to Nabi's processing
                  capacity in such year. For purposes of calculating costs,
                  expenditures that relate to capital improvements which are
                  reasonably expected to be capitalized according to GAAP shall
                  be the depreciated and/or amortized over their estimated
                  lives. The annual depreciation and or amortization charges
                  shall be used to calculate the cost of these expenditures in
                  each year. If the mandatory modifications are for the Product
                  only, and Inhibitex agrees to such modifications, Inhibitex
                  will bear the total cost in the year the costs are incurred

                                       10
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                  by Nabi. If the mandatory modifications do not relate to the
                  Product at all, Inhibitex shall bear no cost for such
                  modifications.

            (d)   Inhibitex may, from time to time, request Nabi to make other
                  changes in the Nabi Process or to the Product Specifications,
                  etc., including additional testing, which are not the result
                  of changes in industry or regulatory standards. Inhibitex must
                  submit requests for such changes in writing to Nabi. Nabi
                  shall not unreasonably withhold its consent to any such
                  changes. Any such Inhibitex requested change(s) which result
                  in increased costs to Nabi shall be reflected in adjusted
                  pricing, to be mutually agreed upon in good faith.

      6.5.  Travel Costs. Inhibitex shall be responsible for all travel and
            accommodation expenses and other costs incurred by or payable in
            respect of employees of Nabi who provide services or expertise to
            the production and/or approval of the Product, provided that Nabi
            obtains Inhibitex's prior written approval before such costs are
            incurred.

      6.6.  Storage of Inhibitex Staph Plasma. Nabi will store Inhibitex Staph
            Plasma at the Nabi Freezer Facility until required for processing.
            Nabi will be compensated for the storage of such Inhibitex Staph
            Plasma and associated activities as follows:

            (a)   Handling and Storage        [ *** ]

            (b)   Driver and Equipment        [ *** ]

            (c)   Labor                       [ *** ]

            (d)   Grade A Pallets             [ *** ]

            (e)   Shrink Wrap                 [ *** ]

            Note: Hourly rates for Driver and Equipment/Labor will be billed for
            pulling samples and picking pools as well as normal processing in
            and out of the Facility.

7.    PROJECT MANAGERS

      7.1.  Appointment. Inhibitex and Nabi designate the following employees to
            act as Project Managers:

<TABLE>
<CAPTION>
            Appointed By   Name           Title
            ------------   ----           -----
<S>                        <C>            <C>
            Nabi           Janice Smith   Sr. Dir., Contract Manufacturing Operations
            Inhibitex      Barry Mangum   Project Manager
</TABLE>

            Inhibitex and Nabi shall be entitled to replace any Project Manager
            by giving written notice to the other Party within thirty (30) days
            prior to replacement.

      7.2.  Duties.

            The Project Managers designated by Inhibitex and Nabi shall
            communicate and coordinate all Product related activities; but shall
            not be able to change, amend or waive any terms of this Agreement
            without a written instrument signed by authorized officers of

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<PAGE>
            Inhibitex and Nabi.

8.    INTELLECTUAL PROPERTY

      8.1.  Representations of Nabi. Nabi represents to Inhibitex that:

            (a)   Nabi is the sole owner of all rights, title and interest in
                  the Nabi Intellectual Property and the Nabi Process or has
                  secured the right to use the Nabi Intellectual Property from
                  any third parties, if necessary;

            (b)   To the best of Nabi's knowledge, the Nabi Intellectual
                  Property and the Nabi Process do not infringe upon any patents
                  issued worldwide.

      8.2.  Representations of Inhibitex. Inhibitex represents to Nabi that:

            (a)   Inhibitex is the sole owner of all rights title and interest
                  in the Inhibitex Intellectual Property, or has secured the
                  right to use the Inhibitex Intellectual Property from any
                  third parties, if necessary;

            (b)   Inhibitex has not granted, and during the term of this
                  Agreement Inhibitex will not grant, any right, license or
                  privilege relating to the production of the Product to any
                  third party; and

            (c)   To the best of Inhibitex's knowledge, the Inhibitex
                  Intellectual Property does not infringe upon any patents
                  issued worldwide.

      8.3.  Inhibitex Intellectual Property. All Inhibitex Intellectual Property
            shall remain the sole property of Inhibitex. Inhibitex hereby grants
            to Nabi a non-exclusive and non-transferable royalty-free license to
            use the Inhibitex Intellectual Property solely to produce the
            Product pursuant to the terms of this Agreement. Nabi shall not be
            entitled to use the Inhibitex Intellectual Property for any purpose
            or in any manner other than as set forth in this Agreement. Nabi
            hereby disclaims any right or interest in the Inhibitex Intellectual
            Property, except for the rights to the license specifically granted
            in this Agreement.

      8.4.  Nabi Intellectual Property. All Nabi Intellectual Property shall
            remain the sole property of Nabi. Inhibitex shall not be entitled to
            use the Nabi Intellectual Property for any purpose or in any manner
            other than as set forth in this Agreement. Inhibitex hereby
            disclaims any right or interest in the Nabi Intellectual Property.

      8.5.  Improvements to Intellectual Property. All improvements or
            modifications to the Inhibitex Intellectual Property developed or
            discovered during the term of this Agreement shall be the sole
            property of Inhibitex. Nabi shall have no right, title or interest
            in such improvements or modifications. All improvements or
            modifications to the Nabi Intellectual Property and the Nabi Process
            developed or discovered during the term of this Agreement shall be
            the sole property of Nabi. Inhibitex shall have no right, title or
            interest in such improvements or modifications. Each Party shall
            promptly deliver to the other Party copies of all tangible
            embodiments of such improvements or modifications to the other
            Party's Intellectual Property.

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<PAGE>
      8.6.  Notice. Nabi shall promptly notify Inhibitex of any improvements or
            modifications to the Inhibitex Intellectual Property discovered or
            developed during the term of this Agreement by delivering paper or
            electronic copies of documents and material embodying the
            improvements or modifications to the Inhibitex Intellectual Property
            and, if necessary, by demonstration. If Inhibitex deems it
            necessary, Inhibitex shall prepare and file applications for patents
            for its products with respect to the improvements or modifications,
            in its own name. Inhibitex shall give Nabi proper notice of all
            patent applications for such improvements or modifications. Nabi
            shall provide such information and assistance reasonably requested
            by Inhibitex in connection with the preparing and filing of any
            patent applications and in connection with the prosecution thereof.
            Inhibitex shall compensate Nabi for all expenses incurred by Nabi in
            providing such information and assistance.

      8.7.  Publication. Inhibitex shall be entitled to publish any improvements
            or modifications to the Inhibitex Intellectual Property discovered
            or developed during the term of this Agreement. Inhibitex may invite
            Nabi or its employees to co-author such publications.

9.    ADDITIONAL REPRESENTATIONS, WARRANTIES AND COVENANTS

      9.1.  Representations of Nabi. Nabi represents and warrants to Inhibitex
            that, as of the Effective Date:

            (a)   the execution, delivery and performance by Nabi of this
                  Agreement (a) have been duly authorized by all requisite
                  corporate action, (b) do not and will not contravene or
                  violate the terms of the certificate of incorporation or
                  by-laws of Nabi or any requirement of law applicable to Nabi
                  or its assets, business or properties; (c) do not and will not
                  (with or without the giving of notice or the lapse of time or
                  both), conflict with, contravene, result in any violation or
                  breach of or default under any agreement under which Nabi is
                  obligated; and

            (b)   no approval, consent, compliance, exemption, authorization or
                  other action by, or notice to, or filing with or in respect
                  of, any Regulatory Authority or any other person is necessary
                  or required in connection with the execution, delivery or
                  performance by Nabi of this Agreement except consents,
                  authorizations, filings and notices which have been obtained
                  or made and are in full force and effect as of the Effective
                  Date.

      9.2.  Covenants of Nabi. Nabi hereby covenants that, throughout the term
            of this Agreement, it will maintain all licenses and approvals
            necessary to produce the Product in accordance with cGMP and FDA
            regulatory requirements.

      9.3.  Representations of Inhibitex. Inhibitex represents and warrants to
            Nabi that, as of the Effective Date:

            (a)   the execution, delivery and performance by Inhibitex of this
                  Agreement (a) have been duly authorized by all requisite
                  corporate action, (b) do not and will not contravene or
                  violate the terms of the certificate of incorporation or
                  by-laws of Inhibitex or any requirement of law applicable to
                  Inhibitex or its assets, business or properties; (c) do not
                  and will not (with or without the giving of notice or the
                  lapse of time or both), conflict with, contravene, result in
                  any violation or breach of or default under any agreement
                  under which Inhibitex is obligated; and

                                       13
<PAGE>
            (b)   no approval, consent, compliance, exemption, authorization or
                  other action by, or notice to, or filing with or in respect
                  of, any Regulatory Authority or any other person is necessary
                  or required in connection with the execution, delivery or
                  performance by Inhibitex of this Agreement except consents,
                  authorizations, filings and notices which have been obtained
                  or made and are in full force and effect as of the Effective
                  Date.

10.   BY PRODUCTS

      All By-Products resulting from Production Runs shall be the property of
      Inhibitex. The Parties agree to negotiate in good faith the terms of any
      sale of By-Products. If the Parties agree to the terms of any sale of
      By-Products, Nabi shall have the exclusive right to sell the By-Products
      on behalf of Inhibitex in accordance with such agreement.

11.   THIRD PARTY CONTRACTORS

      Inhibitex, in conjunction with Nabi, shall have the right to audit and
      inspect all third party contractors, including all vendors and testing and
      filling contractors, that Nabi may enter into agreements with in the
      performance of its obligations under this Agreement. All such third party
      contractors shall be subject to the continuing approval of both Nabi and
      Inhibitex, which approval shall not, in either case, be unreasonably
      withheld. Inhibitex reserves the right to reasonably withhold approval if
      a third party contractor fails to materially comply with any FDA
      regulatory requirement or is found to be materially deficient by an audit.
      Nabi will use its best efforts to ensure that all agreements with such
      third party contractors include provisions to maintain the confidentiality
      of Inhibitex's Proprietary Information and provide Inhibitex rights with
      respect to such contractors substantially similar to the rights with
      respect to Nabi granted to Inhibitex under Section 2.5(n).

12.   NO UNAUTHORIZED USE

      During the term of this Agreement, Nabi shall not use any materials
      supplied by Inhibitex pursuant to this Agreement for any purpose other
      than performing its obligations under this Agreement.

13.   NO DEBARMENT

      Nabi represents and warrants that neither it nor any of its employees
      involved in connection with this Agreement, is on the debarment list
      prepared by the FDA Office of Regulatory Affairs, Compliance References:
      Debarment List under Section 306(a) or Section 306(b) of the Act. Nabi
      hereby covenants and agrees that if at hire or otherwise it learns of a
      conviction of any of its employees performing hereunder of a crime that
      could reasonably lead to debarment of such employee under Section 306(a)
      or Section 306(b) of the Act it will make due inquiry as to whether such
      conviction would, in fact, lead to a debarment under Section 306(a) or
      Section 306(b) and promptly notify Inhibitex thereof. Furthermore, Nabi
      agrees to notify Inhibitex upon the notice to it of conviction or
      debarment under Section 306(a) or Section 306(b) of the Act of any of its
      employees performing hereunder.

14.   TERM

      This Agreement shall commence as of the Effective Date and shall terminate
      ten (10) years from the Effective Date. The pricing for the second five
      (5) years of the term of this

                                       14
<PAGE>
      Agreement shall be subject to adjustment as agreed to in good faith by the
      Parties at least one hundred eighty (180) days prior to the fifth (5th)
      anniversary of the Effective Date; provided, however, that Nabi shall be
      entitled to a one-time 10% processing fee increase in addition to the
      Consumer Price Index in effect in the sixth year of the Agreement.

15.   TERMINATION

      15.1. Rights of Both Parties. Either Party shall be entitled to terminate
            this Agreement by written notice having immediate effect if:

            (a)   the other Party fails to make an undisputed payment of money,
                  within ninety (90) days of due date;

            (b)   the other Party defaults in any material respect in the
                  performance of any of its obligations or any of its
                  representations or warranties under this Agreement or
                  otherwise commits any material breach of this Agreement
                  (excluding a failure to make a payment of money when due) and
                  such default is not cured within twenty (20) days after
                  written notice specifying in reasonable detail the nature of
                  such default;

            (c)   the other Party becomes bankrupt, insolvent, makes an
                  assignment for the benefit of creditors or proposes or makes
                  any arrangements for the liquidation of its debts or a
                  receiver is appointed with respect to all or any part of the
                  assets of the other Party, or the other Party ceases or
                  threatens to cease to carry on business or to wind-up its
                  business, and such Party fails to provide within sixty (60)
                  business days after notice by the other Party such specified
                  assurances of performance as are reasonably requested in
                  writing by the other Party; or

            (d)   the other Party fails to promptly secure or renew any license,
                  registration, permit, authorization or approval necessary for
                  the conduct of its business in the manner contemplated by this
                  Agreement in any significant country, or if any such license,
                  registration, permit, authorization or approval is revoked or
                  suspended and not reinstated within sixty (60) days or
                  diligent efforts are being made to effect such reinstatement.

      15.2. Right of Inhibitex. Inhibitex shall be entitled to terminate this
            Agreement by written notice having immediate effect if:

            (a)   Nabi produces Finished Product of less than Minimal Commercial
                  Yield for the first two (2) consecutive Production Runs; or

            (b)   Inhibitex does not receive FDA approval for the Product or it
                  becomes apparent, in the sole determination of Inhibitex, that
                  the Product will not be approved and Inhibitex decides to
                  cancel substantially all further activity toward Product
                  approval.

      15.3. Failure to Obtain License. If, despite their good faith efforts, the
            Parties fail to obtain the necessary sublicense or license from the
            New York Blood Center as provided in Section 2.5(v) within sixty
            (60) days of the Effective Date, then this Agreement shall be
            terminated and neither Party shall have any further obligation to
            the other under this Agreement except pursuant to Sections 16.1(a),
            (b) and (c).

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