Document:

Packaging and Supply Agreement

 Exhibit 10.25 

***Text Omitted and Filed Separately 

with the Securities and Exchange Commission. 

Confidential Treatment Requested 

Under 17 C.F.R. Sections 200.80(b)(4) 

and 230.406. 

Execution Version 

PACKAGING and SUPPLY AGREEMENT 

for the packaging of pharmaceuticals between 

NITEC PHARMA AG, Kaegenstrasse 17, CH-4153 Reinach, Switzerland, hereinafter referred to as “NITEC” and 

CATALENT GERMANY SCHORNDORF GmbH Steinbeisstraße 2, D-73614 Schorndorf, Germany, hereinafter referred to as “CATALENT” and
made effective 29 Sept. 2008, (the “Effective Date”). 
 WHEREAS, NITEC is a company manufacturing, distributing and licensing
pharmaceutical products, including LODOTRATM prednisone (Presentations in accordance with Appendix 1), and is interested in having CATALENT package LODOTRA for use, marketing, distribution and sale by NITEC or a third party.

 WHEREAS, CATALENT has extensive experience in and maintains adequate facilities and personnel for contracting services related to the
packaging of pharmaceuticals (“Services”) in accordance with Appendix 7. 
 WHEREAS, the Parties wish to enter into a
close relationship in respect of CATALENT’s assembly of NITEC’s LODOTRA (as more specifically described in Appendix 1) and its supply to NITEC to the effect that both Parties will obtain maximum economic benefits from their
cooperation. 
 WHEREAS, NITEC and CATALENT shall enter into a separate quality agreement (the “Quality Agreement”)
governing the quality issues of CATALENT’s Services for NITEC. 
 WHEREAS, the Parties wish to have all commercial issues of
CATALENT’s Services for NITEC governed by this Agreement. 
 Now, therefore, the Parties agree as follows: 

ARTICLE 1 - SUBJECT OF THE AGREEMENT 

1. The subject matter of this Agreement is the packaging of LODOTRA as set forth in Appendix 2 (hereinafter referred to as “Packaging
Requirements”) at prices and conditions set forth in Appendix 3 (hereinafter referred to as “Prices”), and the delivery of such finished products (hereinafter referred to as “Finished Product”) to
NITEC or such other destinations as NITEC may request, and Catalent may agree in writing, as provided for in the Quality Agreement. 
 2.
CATALENT acknowledges that partners or affiliated companies of NITEC might be interested in the future to become a Party of this Agreement. CATALENT therefore agrees that - subject to the execution of a respective amendment to this Agreement -
partners or affiliated companies of NITEC shall upon agreement of the Parties become a Party to this Agreement. 
 3. CATALENT acknowledges that
assembly of LODOTRA on CATALENT’s site at Schorndorf is of utmost importance for the performance of this Agreement. CATALENT 

 

					
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therefore accepts that it may not render its Services from a different site without NITEC’s prior written consent. 

ARTICLE 2 - DELIVERY OF NITEC PRODUCT LODOTRA 

1. NITEC shall deliver to CATALENT, at NITEC’s own expense and risk of loss, tablets of LODOTRA DDP (Incoterms 2000), CATALENT’s facility in
Schorndorf as specified in Appendix 1 and the Quality Agreement in order to enable CATALENT to render the Services. 
 2. The Parties
accept the likelihood of minor losses of tablets of products when comparing the amount of tablets shipped by NITEC to CATALENT and the amount of tablets as Finished Product delivered from CATALENT to NITEC or its partners. Therefore, the Parties
expressly agree that, upon the first anniversary of the date of this Agreement, they shall mutually agree on a reasonable loss rate. NITEC further acknowledges that any broken or non-conforming tablets of LODOTRA shall not be included in the
calculation of such loss rate. CA TALENT shall reimburse NITEC for losses only in the event its losses exceed the reasonable loss mutually agreed between the Parties. 

ARTICLE 3 - FORECAST AND DELIVERY 

1. The average quantities for each of NITEC’s individual orders for Finished Product are specified in Appendix 4. 

2. During the term of this Agreement, NITEC shall make available to CATALENT an [...***...] rolling forecast of its requirements of Finished
Product which shall be updated by NITEC every [...***...]. Only the [...***...] of such rolling forecast shall be binding for NITEC and result in separate firm purchase orders. The volumes specified for the other [...***...] of
such rolling forecast shall be non-binding estimates only. 
 3. NITEC shall send orders to CATALENT for Finished Product and, subject to
CATALENT’s written confirmation, CATALENT shall deliver the Finished Product ordered Ex Works (Incoterms 2000), CATALENT’s facility within a period of [...***...] after receipt of confirmation of NITEC’s purchase order. Subject
to CATALENT’s written confirmation as set forth above, CATALENT shall use its commercially reasonable efforts to fulfil purchase orders for Finished Product. In the case of orders exceeding the volumes specified in NITEC’s forecasts for
its binding period of [...***...] by up to [...***...] CATALENT will use commercially reasonable efforts to fulfill this exceeding request within the [...***...] in which the original order was placed. CATALENT shall use
commercially reasonable efforts to fulfill purchase orders for Finished Product exceeding the volumes specified in NITEC’s forecast by more than [...***...]. NITEC undertakes to notify CATALENT in writing of its exceeding requirements for
Products as early as reasonably possible. 
 4. CATALENT shall be responsible for the order and the purchase of raw materials and packaging
materials, except primary packaging material (collectively “Materials”), from third parties as it deems appropriate. NITEC shall be responsible for firmly ordering primary packaging material (“Primary Packaging
Materials”) from [...***...] or any other supplier chosen by NITEC in accordance with NITEC’s rolling forecast and the contract 

 

					
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between NITEC and [...***...] a copy of which is attached as Appendix 6 and shall arrange for the delivery of such Primary Packaging Materials DDP (Incoterms 2000), CATALENT’s
facility; provided, however, as set forth in Article 13.3, NITEC shall not hold CATALENT responsible or make a claim against CATALENT if a delay is attributable to [...***...] or the respective supplier’s failure to deliver
the Primary Packaging Materials properly or in a timely manner. In no event, however, shall NITEC be obliged to purchase from CATALENT Materials or otherwise pay for Materials, which exceed the amount necessary to comply with NITEC’s
requirements of Finished Products set out in the binding part of the rolling forecast (which is the first three months). 
 5. In the event that
CATALENT becomes aware of circumstances (including Force Majeure circumstances) that may cause a delay in the delivery of Finished Product, CATALENT shall notify NITEC immediately. CATALENT shall use commercially reasonable efforts to avoid any
delay in delivery and, if such delay cannot be avoided, shall minimize and afford to NITEC its full co-operation to minimize the effects of delay for NITEC. Further, the Parties, shall as soon as feasible after the execution hereof, mutually prepare
a crisis management plan setting out its strategies and solutions in the event of CATALENT’s inability to fullfil its contractual obligations. 

6. It is expressly understood that CATALENT’s obligations pursuant to Article 3.5 is conditional upon NITEC’s delivery of tablets of LODOTRA,
as set forth in Article 2 and the Quality Agreement, and NITEC’s (or a third party’s) delivery of Primary Packaging Material as set forth in Article 3.4 at least two (2) weeks prior to the confirmed date of starting the Services.

 ARTICLE 4 - CONTINUOUS IMPROVEMENT PROGRAMME 

1. The Parties shall hold Continuous Improvement Programme (“CIP”) meetings at appropriate intervals to identify and implement ways and
means by which they can continually improve quality, time and cost of the Finished Product and Services supplied hereunder. 
 2. A set of
reasonable continuous improvement objectives (e.g. optimisation of yield losses) shall be mutually agreed for each calendar year starting after one year of first commercial production. At the end of such year, CATALENT and NITEC shall review the CIP
and measure the achievement of the CIP objectives by CATALENT. 
 ARTICLE 5 - PRICES AND CONDITIONS 

1. The prices and conditions set forth in Appendices 2 and 3 shall apply to the Services during the first year of this Agreement. Thereafter, the
Parties shall review the price structure and mutually agree on any fair and reasonable adjustments to the prices taking into particular consideration, the principles set forth in Articles 5.2 and 5.3, below. 

2. NITEC or CATALENT may request that the prices for the Services be adjusted in accordance with the calculation set out in Appendix 3 if:
(i) [...***...]; or (ii) [...***...]; or (iii) if NITEC requests a change in the Services to which CATALENT agrees. 
  

					
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 3. NITEC shall pay CATALENT’s invoices within
[...***...]
 of the date of invoice, net. Late payments shall be subject to a surcharge of [...***...] on all overdue accounts. All payments shall be made in Euros. 

ARTICLE 6 - REPRESENTATIONS AND WARRANTIES 

1. Each Party hereby represents and warrants to the other Party that such Party (i) is duly organized and validly existing under the laws of the
jurisdiction in which it is organized, (ii) has the power and authority and the legal right to own and operate its property and assets, and to carry on its business as it is now being conducted, and (iii) is in compliance with all
requirements of any applicable laws, except to the extent that any non-compliance would not adversely affect such Party’s ability to perform its obligations under this Agreement. 

2. Each Party hereby represents and warrants to the other Party that such Party (i) has the power and authority and the legal right to enter into
this Agreement and to perform its obligations hereunder, (ii) has taken all necessary action on its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder, and (iii) this Agreement
has been duly executed and delivered on behalf of such Party, and constitutes a legal, valid, binding obligation, enforceable against such Party in accordance with its terms. 

3. NITEC represents and warrants that (i) all material (content of packaging insert, promotional material and the LODOTRA) delivered to CATALENT
shall comply with all applicable laws governing their manufacture, use, promotion, sale and distribution; (ii) NITEC has obtained all permits, licenses or authorizations from all relevant regulatory agencies necessary or required for the
manufacture and possession of LODOTRA and for its use as set forth in the respective order; (iii) NITEC will not use LODOTRA nor any other material supplied by NITEC for any clinical study, sale, marketing or any commercial activity without
ensuring that it has obtained all permits, licenses or authorizations from all relevant regulatory agencies; (iv) NITEC acknowledges that it will review all packaging inserts as well as labels, drawings and artwork and that all such material is
subject to NITEC’s approval; and (v) NITEC has provided to CATALENT all available safe handling instructions, health and environment information and material safety data sheets applicable to LODOTRA and any other materials supplied by
NITEC. 
 4. CATALENT represents and warrants that all Services rendered and all Finished Product delivered to NITEC hereunder will be in full
conformance with cGMP rules, applicable local requirements and all Specifications agreed and the Quality Agreement; provided, however, CATALENT shall not be held liable and NITEC shall not make a claim for any non-conformity attributable to
NITEC-supplied materials (including, but not limited to, the LODOTRA, artwork, packaging inserts and labeling). 
 5. NITEC or its partners
shall inspect each shipment of Finished Product for obvious defects and completeness within [...***...] after receipt of each delivery and NITEC shall notify CATALENT in writing immediately of any defects or shortages it has discovered. §
377 HGB (German Commercial Code) shall not apply. 
 6. In the event of hidden defects not readily ascertainable upon inspection per Article 5.5
above, the Party that first becomes aware of the defect shall notify the other Party of any such defect immediately, but in no event later than within [...***...], after they have been 

 

					
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discovered which for the purposes of the Agreement shall not be more than [...***...] after completion of the Services. 

7. If Finished Product delivered hereunder does not fully comply with the warranties given by CATALENT in Article 6.4 (“Defective
Products”), NITEC may, subject to Article 9, submit within a period of [...***...] either a demand for replacement of the Defective Products at no additional charge for the Services (if and to the extent the defect is directly
attribute to CATALENT’s gross negligence (Grobe Fahrlässigkeit) or willful misconduct) for Finished Product of proper quality or rectification of the Defective Products or a credit corresponding to the invoiced amount for the
Defective Products. In the event CATALENT is required to replace Defective Product, CATALENT shall replace Defective Product with conforming Product, provided that in such event, NITEC shall supply, at its cost and expense, the LODOTRA and any other
materials supplied by NITEC necessary to replace the Defective Product. Conversely, any cost and expenses related to the Defective Product incurred by CATALENT and/or NITEC, including but not limited to the costs and expenses for full replacement
(also in the case of hidden defects) and/or destruction of Defective Product shall be borne by CATALENT (whereby the cost of LODOTRA shall be set out in Appendix 8) only if and to the extent the defect is directly attributable to CATALENT’s
gross negligence or willful misconduct. 
 8. If there is a dispute whether a Finished Product delivered is a Defective Product or whether a
Finished Product’s defect has been caused by CATALENT or by NITEC after receipt, a sample of the rejected Finished Product and a sample retained by CATALENT shall be exchanged between the Parties for analysis. If the Parties fail to come to a
mutually satisfying conclusion within a period of [...***...] following the exchange of the samples, both samples shall be submitted to a laboratory acceptable to both Parties as agreed case by case (the “Laboratory”). The
Laboratory shall determine whether the rejected Finished Product is defective and thereafter, to which Party such defect is to be attributed, and its determination, in the absence of manifest error, shall be final and binding upon the Parties. The
costs charged by the Laboratory shall be borne by the Party that has been found to be wrong by the Laboratory’s determination. 
 9. THE
OBLIGATIONS OF CATALENT TO REPLACE OR RECTIFY DEFECTIVE PRODUCT IN ACCORDANCE WITH ARTICLE 6.7 SHALL BE NITEC’S SOLE AND EXCLUSIVE REMEDY FOR DEFECTIVE PRODUCT AND IS IN LIEU OF ANY OTHER WARRANTY, EXPRESS OR IMPLIED. 

ARTICLE 7 - RECALL OR WITHDRAWAL OF FINISHED PRODUCT 

1. In the event that either Party is of the opinion that a recall or product withdrawal of the Finished Product should be considered, such Party shall
immediately inform the other Party and the Marketing Authorisation Holder (MAH) for the Finished Product in writing (including telefax) of such conclusion. The further procedure and in particular all communication shall be coordinated by
NITEC’s European Qualified Person (QP)/Pharmacovigilance in coordination with the QP of the Manufacturer and the concerned national QPs for Pharmacovigilance of the other involved Parties. A final decision on a recall or product withdrawal will
be made by NITEC’s committee for crisis management and executed by the relevant MAH. 
  

					
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 2. CATALENT shall not take any action, other than action which it is required
to take by law, without first obtaining the approval of NITEC’s QP. 
 3. In conjunction with such recall, each Party shall assist each
other in the investigation to determine the cause and extent of the problem and the Parties shall fully cooperate with each other concerning the necessity and nature of such action. Depending on the nature of such an event the Parties agree to find
a consensus in due time. 
 4. In the event that any Finished Product is recalled because it does not conform to the warranties set forth in
Article 6 and NITEC or a third party is responsible for such non-conformity, or because NITEC was negligent or intentionally acted wrongfully, or due to an omission of NITEC, NITEC shall bear the costs and expenses incurred directly from such
recall, including without limitation, expenses related to communications and meetings with all required regulatory agencies, expenses of replacement stock, the cost of notifying customers and costs associated with shipment of recalled Finished
Product from customers and shipment of an equal amount of replacement Finished Product to those same customers. Conversely, in the event that any Finished Product is recalled because it does not conform to the warranties set forth in Article 6 and
CATALENT is responsible for such non-conformity, or because CATALENT was negligent or intentionally acted wrongfully, or due to an omission of CATALENT, CATALENT shall, subject to Article 9, bear the direct administrative costs and expenses incurred
directly from such recall, as approved by CATALENT in writing in advance. 
 5. In the event that CATALENT becomes knowledgeable of any
pharmaceutical technical complaint or an adverse reaction related to the product, the NITEC QP Pharmacovigilance should be immediately informed. 

ARTICLE 8 - INDEMNIFICATION 

1. Subject to Article 9, each Party shall be liable to the other Party for all damages arising for the other Party out of the breach of any obligation of
the breaching Party under this Agreement. 
 2. Subject to Article 9, each Party (the “Indemnifying Party”) shall indemnify and
hold the other Party (the “Indemnified Party”) harmless for third party claims and all related costs, expenses, liabilities, damages, losses and fees, (including reasonable legal and other reasonable professional fees and costs)
(“Liability”) arising out of or resulting from the Indemnifying Party’s breach of this Agreement or any negligent, willful misconduct or other wrongful act or omission directly attributable to the Indemnifying Party in
connection with this Agreement. 
 3. In addition to Article 8.2, NITEC shall indemnify and hold harmless CATALENT, its affiliates, and their
respective directors, officers, employees, and agents from and against any and all losses arising out of or resulting from (A) any breach of its representations, warranties or obligations set forth in this Agreement; (B) any manufacture
(other than the negligently performed Services), sale, promotion, distribution, use of or exposure to the LODOTRA or any materials supplied by NITEC, including, without limitation, product liability or strict liability; (C) NITEC’s
exercise of control over the Services to the extent that NITEC’s instructions or directions violate applicable laws; (D) any actual or alleged infringement or violation of any patent, trade secret, copyright, trademark or other proprietary
rights provided 
  

					
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by NITEC; or (E) any negligence or willful misconduct of NITEC, except to the extent that any of the foregoing arises out of or results from CATALENT’s negligence, willful misconduct,
or breach of this Agreement. 
 4. Upon receiving notice of any claim for Liability under this provision, such Party shall promptly notify the
Indemnifying Party in writing with full details of the claim; provided, however, that failure to give notice shall not limit or otherwise reduce the indemnification provided for in this Agreement except to the extent the delay or
failure to give notice materially impairs the defence of such claim for Liability. Regardless, unless made with the express prior written consent of the Indemnifying Party, no sums paid by the Indemnified Party in settlement of any lawsuit shall be
recoverable under this provision. Conversely, under no circumstances shall the Indemnifying Party settle any claim or admit wrongdoing or liability of the Indemnified Party without the Indemnified Party’s express prior written consent.

 ARTICLE 9 - LIMITATION OF LIABILITY 

1. IN NO EVENT SHALL THE LIABILITY OF CATALENT UNDER THIS AGREEMENT [...***...]. 

2. NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO, LOST
PROFITS, LOST DATA, LOST REVENUES AND/OR LOSS OF BUSINESS OPPORTUNITY. 
 3. To the extent that any provision in this Agreement or any order
purporting to limit either Party’s liability to the other Party or either Party’s remedies (any such provision a “Limiting Provision”) violates or contradicts any law deemed by the final, non-appealable order of a court or
other body of competent jurisdiction to govern any dispute (any such law a “Mandatory Applicable Law”) such Limiting Provision shall not apply, but shall instead be replaced by (and only to the extent of) the applicable provisions
of such Mandatory Applicable Law solely for the purposes of resolving such dispute. In particular, nothing in this Agreement or any order shall limit a Party’s liability for death or personal injury arising from its own negligence or for strict
liability for defective products if such limitation would violate a Mandatory Applicable Law. 
 ARTICLE 10 - INSURANCE 

 1. CATALENT shall, at its own cost and expense, obtain and maintain in full force and effect the following insurance during the term of this
Agreement, each covering claims brought and suits served anywhere in the world: 
  

	 	(a)	Commercial General Liability (Haftpflichtversicherung) or Public Liability insurance (whichever is applicable) with per-occurrence and general aggregate limits
of not less than [...***...]; 

  

					
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	 	(b)	Products and Completed Operations Liability Insurance with per-occurrence and general aggregate limits of not less than [...***...]; 

 

	 	(c)	Professional Services Errors & Omissions Liability Insurance with per claim and aggregate limits of not less than [...***...] covering sums that CATALENT
becomes legally obligated to pay as damages resulting from claims made by NITEC for errors or omissions committed in the performance of the Services set forth in the Agreement. 

In the event that any of the required policies of insurance are written on a claims made basis, then such policies shall be maintained during the entire
teen of this Agreement and for a period of not fewer than [...***...] following the termination or expiration of this Agreement. Each insurance policy that is required under this Article 10.1 shall be obtained from an insurance carrier with an
A.M. Best rating of at least A- VII. 
 CATALENT shall furnish evidence of insurance for the required policies to NITEC as soon as practicable
after entering into this Agreement and upon renewal of any such policies or upon the respective policy renewal becoming effective. 
 2. NITEC
shall, at its own cost and expense, obtain and maintain in full force and effect the following insurance during the term of this Agreement, each covering claims brought and suits served anywhere in the world: 

 

	 	(a)	Commercial General Liability Insurance as Marketing Authorization Holder(s) as per the applicable pharmaceutical laws and legacy of the individual countries or markets
when and where a Market Authorization for LODOTRA Tablets has been granted, e.g. in Germany with a general aggregate limit of an amount equivalent to not less than [...***...]; provided, however, this sub-section (a) shall not
apply to the United States and NITEC and CATALENT shall negotiate in good faith the Commercial General Liability Insurance to be procured and maintained by NITEC before LODOTRA is launched in the United States. 

 

	 	(b)	Commercial General Liability (Haftpflichtversicherung) or Public Liability insurance (whichever is applicable) with per-occurrence and general aggregate limits
of not less than [...***...]. 

  

	 	(c)	All Risk Property insurance, including transit coverage, in an amount equal to full replacement value covering NITEC’s property while it is at CATALENT’s
facility, or in transit to and from CATALENT’s facility, whereby any claim for recovery shall be made under NITEC’s insurance policy before a claim is made under CATALENT’s respective policy; provided, however, NITEC
acknowledges that neither CATALENT nor CATALENT’s insurance (if any) shall be responsible for, or liable for any costs, expenses, or losses that may occur during transit to or from CATALENT’s facility. 

In the event that any of the required policies of insurance are written on a claims made basis, then such policies shall be maintained during the entire
term of this Agreement and for a period of not fewer than [...***...] following the termination or expiration of this 
  

					
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Agreement. Each insurance policy that is required under this Article 10.2 shall be obtained from an insurance carrier with an A.M. Best rating of at least A- VII. 

NITEC shall furnish a certificate of insurance for the required policies to CATALENT as soon as practicable after entering into this Agreement and upon
each renewal of any such policies becoming effective. 
 ARTICLE 11 - CONFIDENTIALITY 

1. The recipient of any information provided by the other Party as a result of the operation of or in connection with this Agreement or its preparation,
negotiation or termination shall treat such information in confidence and shall not use or disclose such information to any third party except for the purposes of this Agreement. The same applies to the contents of this Agreement. 

2. The aforesaid does not apply to any information which (a) is or later comes into the public domain otherwise than by breach of this Agreement, or
(b) is in the possession of the Party receiving the information prior to its receipt under this Agreement, or (c) is independently received from a third party, which is free to disclose the information. 

3. The obligations set forth in this Article 11 do not prevent the disclosure of information to the competent authorities or agencies, in particular
judicial or administrative agencies, if required by law, but such disclosure shall be strictly limited to the extent of the disclosure required by the relevant authority or agency. In such event, the Party making the disclosure is required to give
prior written notice to the other Party and authorize it to seek an appropriate preventive solution. 
 4. All confidential information shall
remain the sole property of the Party disclosing such information or data. Upon termination of this Agreement, the receiving Party shall, promptly return within thirty (30) days all such information, including any copies thereof, and cease its
use or, at the request of the disclosing Party, shall promptly destroy the same and certify such destruction to the disclosing Party. 

ARTICLE 12 - TERM OF AGREEMENT 

1. The Agreement shall come into force upon its Effective Date and shall remain in effect for a period of three (3) years after the launch of
LODOTRA in the EU or in the United States, whichever comes first (the “Initial Period”). After the expiry of the Initial Period the Agreement shall be extended automatically for further [...***...] renewal periods (if any, the
“Renewal Periods”)(the Initial Period and any Renewal Periods will be the “Term”) unless either Party gives at least [...***...] written notice to terminate the Agreement before expiry of the then current period. Such
termination shall not apply to any then-outstanding orders. 
 2. The right to terminate the Agreement for cause is reserved. In particular,
terminations for cause are constituted by a gross failure to fulfil contractual obligations by either Party. Without limitation to the generality of the foregoing, a gross failure on the part of CATALENT shall be deemed to have occurred if CATALENT
delivers Finished Product that does not conform to the cGMP (or that would hinder the commercialisation of the Finished 

 

					
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Product) more than [...***...] consecutive orders during a [...***...] period, or more than [...***...]. 

3. NITEC may terminate this Agreement if [...***...] whereby such termination shall be effective upon NITEC giving CATALENT at least
[...***...] written notice. In the event that NITEC terminates this Agreement pursuant to this Article 12(3), NITEC shall pay CATALENT all fees for Services rendered to the effective date of termination in accordance with the applicable order,
including any non-cancelable obligations, works-in progress and materials ordered by CATALENT for the performance of Services under this Agreement as warranted by NITEC’s forecasts, plus all out-of-pocket expenses incurred by CATALENT on behalf
of NITEC in connection with or as a result of such termination. CATALENT shall provide NITEC with an invoice for its termination expenses and charges under this Article 12.3 as soon as reasonably practicable following termination of this Agreement.

 ARTICLE 13 - FINAL PROVISIONS 

1. If changes in the market lead to a situation, which is not reasonable for either Party, both Parties will endeavour amicably to find a solution
acceptable to both of them. The same applies if disputes arise from the performance of the Agreement. 
 2. Except as set forth in Article 6.8
all disputes, controversies, or differences which may arise between the Parties out of or in relation to or in connection with this Agreement shall be decided by the courts of Mannheim (if NITEC is the defendant) and Schorndorf (if CATALENT is the
defendant). 
 3. Delay in or failure to carry out the obligations imposed on any Party under this Agreement shall not be deemed breaches of the
Agreement if such delay or failure results from fire, explosion, labour dispute, natural disaster, war, legislative or governmental acts, or any other cause beyond the control of the affected Party, including for example, if [...***...], or
any other supplier, or the respective legal successor (see Article 3.4), fails to delivery the Primary Packaging Materials properly or in a timely manner, in each case through no fault or negligence of the Party invoking these circumstances as an
excuse (collectively “Force Majeure”). Except with respect to [...***...] or any other supplier nominated by NITEC, or the respective legal successor, A lack or failure of the affected Party’s sub-contractor shall not
constitute Force Majeure unless caused by circumstances which represent Force Majeure themselves. In the event delay or failure due to Force Majeure continues for a period exceeding nine (9) months, either Party may terminate this Agreement
effective immediately. 
 4. If individual provisions of this Agreement are invalid or become invalid, the Parties hereby agree that this shall
not affect the validity of the remainder. The Parties undertake to replace the invalid provisions by others with the same economical effect as far as legally possible. 

5. This Agreement including its Appendices 1 to 8 constitutes the entire agreement between the Parties concerning the subject matter. 

 

					
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 6. Any alterations of or additions to this Agreement or its Appendices must
be made in writing and agreed to by both Parties. This requirement shall also apply to the preceding sentence. 
 7. This Agreement is and any
confirmed order placed under this Agreement is subject to German law without its provisions regarding the conflict of laws or the Vienna Convention on the International Sale of Goods (CISG). 

8. The rights and obligations of the Parties shall continue under Articles 8 — 11, 12.3, 13.7 and 13.8 notwithstanding expiration or termination of
this Agreement. 
  

					
	 CATALENT GERMANY SCHORNDORF GmbH
  

29. Sept. 2008
	 		 	
			
	 /s/ Ronan Fox
	 		 	 /s/ Jürgen Hess

	by: Ronan Fox	 		 	by: Jürgen Hess
	its: Managing Director	 		 	its: Director Sales & BD

  

					
	 NITEC PHARMA AG
  

29. Sept. 2008
	 		 	29.9.08
			
	 /s/ Achim Schäffler
	 		 	 [Illegible Signature]

	by: Dr. Achim Schäffler	 		 	by: [Illegible]
	its: Head R&D & Prod. and Member of Board of Directors	 		 	

  

					
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 List of Appendices 

Appendix 1 — LODOTRA Presentations 

Appendix 2 — Packaging Requirements 

Appendix 3 — Prices and Price Re-Calculation 

Appendix 4 — Average quantities 
 Appendix 5
— Delivery sites 
 Appendix 6 — Copy of Agreement [...***...] and NITEC 

Appendix 7 — Services 
 Appendix 8 —
Costs of LODOTRA 
  

					
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 Appendix 1 — LODOTRA presentations 

Lodotra 1 mg: 

Each modified-release tablet contains 1 mg of prednisone 

Lodotra 2 mg: 

Each modified-release tablet contains 2 mg of prednisone 

Lodotra 5 mg: 

Each modified-release tablet contains 5 mg of prednisone 
  

					
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 Appendix 2 — Packaging Requirements [...***...] 

[...***...] 

[...***...] 

[...***...] 

[...***...] 
 [...***...]

 [...***...] 

[...***...] 
  

					
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 Appendix 3 – Prices 

[...***...] 
  

					
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		 	17	 	***Confidential Treatment Requested

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 Appendix 6 - Copy of Agreement between [...***...] and NITEC

 [Please see attached.] 
  

					
		 	18	 	***Confidential Treatment RequestedMaster Services Agreement

 Exhibit 10.26 

***Text Omitted and Filed Separately 

with the Securities and Exchange Commission. 

Confidential Treatment Requested 

Under 17 C.F.R. Sections 200.80(b)(4) 

and 230.406. 

Master Services Agreement 

This Master Services Agreement (this “Agreement”) is entered into the 11th day of September, 2008 between Pharmaceutics
International, Inc. (“PII”) with an address at 10819 Gilroy Road, Hunt Valley, Maryland, 21031, Attn: Steve King, Senior Vice President, and Horizon Therapeutics, Inc., with an address at 8025 Lamon Avenue, Suite 110, Skokie, IL 60077
(“Customer”). 
 Explanatory Statement 

PII is engaged in the business of developing drug delivery technology, including improvements in the formulation, analysis and
manufacturing process for pharmaceutical products. Customer is engaged in the business of developing pharmaceutical compounds. Customer desires to engage PII to provide certain services with regard to Customer’s pharmaceutical compounds as will
be specifically set forth in specific Service Contracts as described in Section 2.1 below. 
 In consideration of the
mutual covenants and agreements contained in this Agreement, and intending to be legally bound, the parties hereto agree as follows: 

1.0 Definitions. In addition to certain terms defined elsewhere in this Agreement (including in any Service Contract attached hereto), the
following words and phrases shall have the following meanings: 
 1.1 “cGMP” means current good manufacturing
practices in the applicable jurisdiction, as may be amended or supplemented from time to time; if in the United States, then cGMP shall include, without limitation, the Current Good Manufacturing Practices set forth in 21 C.F.R. 210 and 21 C.F.R.
211 and relevant FDA guidance documents; and if in the European Union, then cGMP shall include, without limitation, the European Community Directive 91/356/EEC, Directive 2001/20/EC, Directive 2001/83/EC and all relevant implementations of such
directives and relevant guidelines, including the EC Guidelines, as may be amended or supplemented from time to time. In the event of any conflict among applicable Laws pertaining to the manufacture of Product, current Good Manufacturing Practices
as specified in the United States Code of Federal Regulations will be applied, unless the parties agree otherwise in writing. 

1.2 “Certificate of Analysis” shall mean a summary of the test results, including the test methods, specification
parameters, and the pass/fail criteria, used in the determination of the quality and suitability of a specific Batch of Product, including review and approval by the appropriate quality assurance department at PII. 

1.3 “Investigation” shall mean a detailed and thorough review of any atypical manufacturing deviation (or any other
matter requiring review pursuant to the terms of this Agreement) that is documented in a written report and approved at a senior management level. Each such written report shall include, without limitation, a detailed description of the atypical
event, deviation or other matter, all steps taken to review such atypical event, deviation or other matter, a root cause analysis, which other lots of Product were affected, if any, the proposed and/or taken corrective actions with applicable
timelines and a recommendation for permanent correction. 
 1.4 “Quality Agreement” shall mean the separate
quality agreement; expected to be executed by PII and Customer shortly after the execution of this Agreement, and to be attached hereto as Attachment “A”, as may be amended by written agreement of PII and Customer. The Quality Agreement,
when executed by the parties will constitute an integrated part of this Agreement and will define the quality assurance and regulatory responsibilities of the Parties as they relate to this Agreement. 

 1.5 “Specifications” shall mean the quality standards, including tests,
analytical procedures and acceptance criteria that are established to confirm the quality of Product which are mutually agreed to in writing by PII and Customer and ere contained or referenced in the master batch record for Product or as otherwise
mutually agreed to in writing by the parties. 
 1.6 “Customer Material” means all quantities of
Customer’s materials, including any chemical compounds (whether or not proprietary) delivered by or on behalf of Customer to PII for use by PII in connection with its services far any Project. 

1.7 “Laws” means (a) all applicable United States federal, state and local laws, regulations, orders, guidelines
and requirements governing conduct of any Project, including, without limitation, the Federal Food, Drug and Cosmetic Act as amended, 21 U.S.C. § 321, et seq., applicable regulations promulgated thereunder and implementing guidance, including,
without limitation, cGMP, all conditions of approval and other requirements imposed by the United States Food and Drug Administration, (b) ICH Guidelines, and (c) all other applicable laws, rules, regulations and ordinances of any other
country, to the extent such laws, rules, regulations and ordinances arc different than those described in clauses (a) and (b), which country and such laws, rules, regulations and ordinances are identified by Customer and are specifically agreed
to by the parties in a given Service Contract. 
 1.8 “Latent Defect” shall mean a defect that causes Product
to fail to conform to the Specifications or to the warranties provided by PII hereunder, which defect is not discoverable upon reasonable physical inspection and testing but is discovered at a later time. 

1.9 “Project” shall mean all activities undertaken for or on behalf of Customer by PII pursuant to a Service Contract,
together with the work performed by or on behalf of PII pursuant to a Service Contract. 
 1.10 “Project
Materials” collectively means all documentation, records, information, materials and data generated by or on behalf of PII or Customer relating to the Project, including but not limited to copies of all notebook pages, analytical results,
batch records, data, memoranda and all reports created or delivered hereunder. 
 1.11 “Regulatory Authority”
means the United States Food and Drug Administration (“FDA”), the Environmental Protection Agency (“EPA”), the Occupational Health and Safety Administration (“OSHA”) or any other United States or state or local
regulatory agency, regulatory authority, or regulatory body having jurisdiction over PII or its operations, facilities, or performance of the Projects. 

2.0 Project Overview 

2.1 Scope of the Agreement; Service Contract. Nature of Services; Scope of Agreement. As a “master” form of contract,
this Agreement allows the parties to contract for multiple Projects through the issuance of multiple Service Contract(s) without having to re-negotiate the basic terms and conditions contained herein. This Agreement covers the provision of services
by PII required in connection with any Project (the “Services”), and represents a vehicle by which Customer can efficiently contract with PII for a broad range of services. 

2.2 Service Contract. The specific details of each Project under this Agreement shall be separately negotiated and set forth in a
service contract, each to be agreed upon in writing by PII and Horizon (each a “ Service Contract”) Each Service Contract will include, as appropriate, the scope of 

 

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work, time line, and budget and payment schedule. Each Service Contract shall be subject to all of the terms and conditions of this Agreement, in addition to the specific details set forth in the
Service Contract. To the extent any terms or provisions of a Service Contract conflict with the terms and provisions of this Agreement, the terms and provisions of this Agreement shall control. All Service Contracts and other exhibits hereto shall
he deemed to be incorporated herein by reference. 
 2.3 Nature of Services. 

(a) PII shall perform the Projects described in each Service Contract and shall deliver to Customer the deliverables, including any
pharmaceutical product (“Product”), described in each Service Contract (the “Deliverables”) on or before the “Delivery Time” described in each Service Contract, subject to Sections 2.3(b) and 12 below. PII acknowledges
that time is of the essence. Each Project shall he deemed to have been completed by PII when PII has completed the Services, including delivery of any Deliverables, as described in the applicable Service Contract. The parties shall endeavor, in good
faith, to mutually agree on when each Project is completed, but in the event of a failure to so agree, such dispute shall be resolved in accordance with Section 11 below. Subject to the terms of this Agreement. PII shall perform its Services in
connection with each Project in conformity with the requirements for such Services as set forth in the applicable Service Contract (the “Requirements”) and this Agreement. The parties acknowledge that PII may perform the Projects using its
affiliates, provided that such performance is in accordance with this Agreement, and PII remains responsible to Customer for the performance of such Project(s). 

(b) The parties acknowledge that both parties will require certain information and reasonable cooperation from each other in order to
properly perform each Project, and that each party will establish mutually acceptable review periods for the development and completion of each Service Contract, prior to the initiation of work for that Service Contract. Once the Service Contract is
signed and the initiation fee is paid, as applicable under such Service Contract, PII will be responsible and liable for meeting the Delivery Time and shall use its commercially reasonable efforts to deliver all Deliverables on or before the
applicable Delivery Time, subject to Section 12 below and delays in its performance caused by Customer’s failure to provide Customer Materials, required information and reasonable cooperation to PII in a timely manner. In the event PII
will be unable to meet the Delivery Date, PII will promptly notify Customer. In all cases, PII will attempt to limit the effect of delays on the overall Project and will use commercially reasonable efforts to mitigate the delay, which shall be at
PII’s expense if it has caused the delay. 
 2.4 Customer Materials 

(a) Customer shall, at its own expense, supply PII with sufficient quantities of Customer Materials, including active pharmaceutical
ingredient (“API”), needed for the development or manufacture of Product, as specified in Service Contracts, in order to meet Customers requirements for quantities of Product in finished dosage form. Except as expressly set forth herein,
THE API AND ALL OTHER CUSTOMER MATERIALS ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY OR OF FITNESS FOR ANY PARTICULAR PURPOSE OR
ANY WARRANTY THAT THE USE OF THE API OR OTHER CUSTOMER MATERIALS WILL NOT INFRINGE OR VIOLATE ANY PATENT OR OTHER PROPRIETARY RIGHTS OF ANY THIRD PARTY. 
  

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 (b) PII agrees: (i) to account for all Customer Materials and to provide Customer with
standard inventory reports upon request by the Customer, and such other reports as may be required pursuant to the terms of the applicable Service Contract, which may include, without limitation, all process materials and drug substance impurity
standards, both (1) on the first day of each calendar month throughout the term of this Agreement, and (2) upon request by Customer; (ii) not to provide API or Customer Materials to any third party without the express prior written
consent of Customer; (iii) not to use API or other Customer Materials for any purpose other than conducting any Project under this Agreement; and (iv) to destroy or return to Customer or its designee all unused quantities of API and other
Customer Materials according to Customer’s written directions, subject to the provisions of applicable Laws. If no written directions are provided to PII within thirty (30) days following termination of this Agreement, PII may dispose of
such materials per cGMP(s). 
 2.5 Project Materials. Upon reasonable advance notice to PII, Customer shall be permitted
to send certain of its employees to PII’s facilities to consult with PII’s employees and consultants engaged in the Project, to observe PII in the performance of its duties hereunder, and to inspect (and take copies of) any of the Project
Materials, provided that such consultation, inspection and copying does not unreasonably interfere with PII’s operations or standard operating procedures. PII shall make PII’s employees and consultants and the Project Materials reasonably
available to Customer for such purposes. PII shall provide Customer with summary data describing the interim results of each Project, and copies of all Project Materials generated in connection with the Project, from time to time upon
Customer’s request, and at no extra charge to Customer, unless previously agreed to by Customer and included in the Service Contract. 

2.6 Delivery. PII shall choose a commercially reasonable method of freight shipment and carrier for each of the Deliverables,
unless Customer has specified a particular method of shipment and carrier to PII. All costs associated with freight, insurance, packaging and custom duties shall be paid by Customer unless otherwise provided in the applicable Service Contract. Risk
of loss, damage and delay shall pass to Customer Ex Works (Incoterms 2000) PII’s shipping dock unless otherwise provided in the applicable Service Contract. 

2.7 Record-Keeping. PII shall maintain records of all Project Materials and Inventions in a professional manner so as to permit
Customer to review such records in accordance with this Section 2.7 without disclosing to Customer any third party confidential or proprietary information; Designated representatives of Customer shall, upon reasonable notice to PII, have access
to and shall be permitted to review all such records. PII will provide to Customer upon request a copy of all such records. Following expiration or termination of this Agreement, PII shall (a) continue to make such records available to Customer
for a period of [...***...] from the date of such termination or (b) upon Customer’s prior written request, transfer ownership of such records to Customer; provided, however, PII’s obligations pursuant to this Section 2.7
shall be subject to the provisions of applicable Laws. After expiration of such retention period, PII will either transfer such records to Customer or destroy such records as determined by Customer in its sole discretion. 

2.8 Acceptance of Shipments; Non-Conformance; Responsibility for Deliverables. 

2.8.1. Unless otherwise instructed by Customer in writing, PII shall provide to Customer a Certificate of Analysis and a complete and
accurate copy of the executed batch records (the “Batch Records”) on or before the date of delivery of the applicable Product that certify that the Product meets the Specifications for the Product set forth in the applicable Service
Contract (a “COA”). Customer and PII agree that the review period and the acceptance or rejection of Product cannot commence until the COA, and Batch Records are received for each batch of Product (including all the batch 

 

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documentation), which will be delivered to Customer by a reputable overnight courier or by email (with confirmation of receipt). PII will make reasonable efforts to deliver said Batch Records
within [...***...] of date of manufacturing. If Batch Records cannot be delivered within [...***...], PII will notify Customer of the cause of delay and provide a draft copy of available portions of the executed production record. Unless
the batch of Product is shipped under quarantine, in the event that Customer has not received all such Batch Records in accordance with this Section 2.8.1, Customer will notify PII in writing. In the event that Customer requires additional
copies of the Batch Records, these will be provided by PII to Customer at mutually agreed upon fees. 
 2.8.2. Within
[...***...] following delivery to Customer of the Product, COA and the Batch Record in accordance with Section 2.8.1, Customer shall have the right to give PII notice of rejection of any Product that, in whole or part, fails to conform to
the Specifications. Upon receipt of a notice of rejection from Customer, PII shall conduct an internal Investigation. Customer shall at all times supply PII with any evidence it has that relates to whether any Product delivered to Customer by PII is
non-conforming with the Specifications. Failure by Customer to give timely notice of rejection shall constitute acceptance by it of the shipment to which the notice of rejection would have otherwise applied; provided, however, that in the case of
Product having Latent Defect(s), Customer may reject such Product by giving written notice to PII of Customer’s rejection of such Product within [...***...] after discovery of such Latent Defect(s). In the event of any disagreement
between PII and Customer relating to non-conformance under this Section 2.8, the parties shall use good faith efforts to reach an amicable resolution of such disagreement. In the event that resolution cannot be reached, a mutually agreed upon,
neutral, independent third party laboratory shall be brought in to resolve the disagreement upon the request of either party. The results of the independent laboratory shall be binding on the parties and non-appealable, and the cost of such
independent laboratory shall be borne by the party hereunder determined by the independent laboratory to be the non-prevailing party in such disagreement. Any Product properly rejected pursuant to this Section 2.8.2 shall be returned by
Customer to PII at PII’s expense and shall be replaced by PII at no extra charge to Customer, subject to Customer’s provision to PII of Customer Materials (which may be at PII’s cost, as provided herein), including any API; and in the
event PII cannot replace such returned Product, it shall refund to Customer the amount paid, including any freight, insurance or other direct costs actually incurred by Customer. Customer agrees that in the event the replacement cost of the API used
in any Service Contract exceeds [...***...], the amount of the replacement cost shall be conspicuously set forth in the Service Contract. 

2.8.3. Notwithstanding anything to the contrary contained herein, PII shall not be responsible for the stability of any Product if PII
has performed its Services in accordance with the Requirements and the terms and conditions of this Agreement. Unless PII delivers Product to Customer with a COA and Customer properly rejects any Product in accordance with the provisions of
Section 2.8.2 above, as long as, with respect to any batch of non-conforming Product, PII has performed such Services in accordance with the Requirements and the terms and conditions of this Agreement: (a) PII shall be entitled to payment
for its Services actually performed under any Service Contract, and (b) PII shall not be responsible for the cost of replacement API required for PII’s replacement of defective Product. 

2.9 Commercial Supply. The parties hereby agree that, upon written request by Customer to PII, the parties shall negotiate in good
faith and enter into a supply agreement in form mutually acceptable to the parties relating to supply by PII to Customer of Customer’s requirements of Product for Customer’s development and commercialization activities. The parties agree
to use commercially reasonable efforts so that such supply agreement may be negotiated to the parties’ mutual satisfaction and executed within [...***...] following such request by Customer to PII. The supply agreement shall

  

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address the standard terms of supply and relevant other terms, including, without limitation, terms relating to pricing, specifications, forecasting, delivery, product warranties,
indemnification, acceptance and rejection, and regulatory matters. For purposes of clarification, the obligations under this Section 2.9 shall survive any termination or expiration of this Agreement. 

3.0 Reports 

Reports. If required by the applicable Service Contract, PII shall prepare and deliver to Customer a written report describing the
results of the Project, including all raw data generated from the Projects performed under the applicable Service Contract. PII shall make such changes to, and include such additional information in, such report as Customer may reasonably request.

 4.0 Fees; Payment 

4.1 Fees. The Customer shall pay as the fees for a Project as set forth in the applicable Service Contract. 

4.2 Change Order. If Customer wishes to change the scope of the Project or wishes to agree to a Project not initially covered by
this Agreement or in any Service Contract, then Customer shall so advise PII in writing, and PII shall promptly submit to Customer a written cost estimate therefor. No such request shall be binding unless and until it has been agreed to in a revised
Service Contract or additional Service Contract signed by both Customer and PII. Any such modified or additional Project shall be governed by the terms and conditions of this Agreement and by such revised or additional Service Contracts as may he
executed by the parties from time to time. 
 4.3 Non-Capital Materials. Customer shall pay to PII upon receipt of
PII’s invoice for all non-capital materials (excipients, packaging components, HPLC columns, analytical standards and tooling that are not supplied by Customer) used in any Project at [...***...]. PII shall obtain Customer’s prior
written approval for any expenditure greater than [...***...]. Customer shall pay [...***...] for any individual non-capital materials in excess of [...***...], provided that PII has obtained prior approval from Customer for such
non-capital materials prior to purchase. 
 4.4 Travel Expenses. PII shall invoice Customer for all reasonable and normal
out-of-pocket travel related expenses, including airfare, room and board, and car rental, incurred during any technology transfer phase or Project update meetings, provided such expenses are approved in advance by Customer. 

4.5 Invoices; Payment. On or after the date that PII delivers each Deliverable to Customer, PII shall provide Customer with an
invoice in accordance with the payment terms set forth in the applicable Service Contract that sets forth a description of the activities performed, references the applicable Service Contract, and includes such other information in such detail as
Customer may reasonably request. Each PII invoice shall be payable within [...***...] after receipt of invoice by Customer, and thereafter unpaid balances shall bear interest at a rate of [...***...] unless determined not to be properly
payable in accordance with Section 11 below. The fees and charges due hereunder shall be payable in U.S. Dollars unless otherwise provided in a Service Contract. All payments due from Customer hereunder shall be paid by a check payable to PII
and shall be sent to PII’s address set forth above, unless otherwise provided in a Service Contract. 
  

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 5.0 Ownership of Materials and Information 

5.1 PII understands and agrees that the underlying rights to the Customer Materials, Project Materials and Products, and all intellectual
property rights therein, are owned solely by Customer. Neither PII nor any Customer-approved subcontractor shall acquire any rights of any kind whatsoever with respect to any such intellectual property or materials as a result of conducting a
particular Project. All data, results, products, information, and reports (whether tangible or intangible), and any and all related documentation, which are developed, generated or derived, directly or indirectly, by PII (or by any subcontractor or
agent of PII) during the course of this Agreement (the “Data”), and all inventions, discoveries, designs, techniques, trade secrets, formulae, procedures, any other intellectual property, and any improvements thereto, whether patentable or
not, which are made, discovered or developed during the course of this Agreement or as a result of the performance of any Project by PII (or by any subcontractor or agent of PII) (collectively, the “Inventions”), shall be and remain the
sole and exclusive property of Customer, subject to the provisions of Section 5.2. 
 5.2 Inventions made, developed or
discovered solely by PII (or by any subcontractor or agent of PII) that constitute an invention, improvement or other intellectual property relating generally to drug delivery technology, formulation, analysis or manufacturing process of
pharmaceutical products and which do not relate solely to any Customer Material or Product (together with any Data relating thereto, “PII Inventions”), shall be and remain the property of PII, and PII hereby grants to Customer a perpetual,
irrevocable, worldwide, royalty-free, exclusive license (with the right to sublicense) to develop, use, make, have made, import, offer for sale and sell such PII Inventions in connection with the development, use, manufacture, import, offer for sale
and sale of the Product; provided that the foregoing license shall not be exclusive with respect to a Product that is a non-patented (or non-patent pending) compound. Neither PII nor its employees or agents shall have or acquire any right, title or
interest in Inventions that are not PII Inventions (“Customer Inventions”). PII shall promptly disclose in writing to Customer any Customer Inventions, and PII hereby assigns any and all rights in any Customer Inventions to Customer (or to
the extent any such rights are not assignable under applicable law, waives such rights or grants Customer a perpetual, irrevocable, worldwide, royalty-free exclusive license (with the right to sublicense) to Customer Inventions for all uses) and
shall assist Customer, at no cost to PII, in perfecting its rights in such Customer Inventions. 
 6.0 Confidentiality 

The parties acknowledge that the Confidentiality Agreement between the parties dated December 16, 2005 (the “Confidentiality
Agreement”) shall continue to govern the parties’ respective obligations to one another with regard to the “Confidential Information” (as defined in the Confidentiality Agreement) each has disclosed to the other and shall
continue to disclose to the other in connection with this Agreement, provided however, the Confidentiality Agreement shall be deemed amended to reflect the following agreements: (a) the parties’ respective obligations with regard to any
such Confidential Information disclosed prior to or after the date of this Agreement shall survive the termination of this Agreement for a period of [...***...] from the date of such termination; (b) the “Purpose” shall be
deemed to include PII’s performance of Services on behalf of Customer hereunder; and (c) the governing law shall be as provided in Section 14.2 below. The parties’ respective obligations with regard to any such Confidential
Information shall survive the termination of this Agreement in accordance with the terms of the Confidentiality Agreement. 
  

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 7.0 Term; Termination 

This Agreement shall commence on the date set forth above and continue until termination of this Agreement as set forth in this
Section 7. Customer, but not PII, may terminate this Agreement or any Service Contract entered into hereunder at any time and for any reason at the sole discretion of Customer upon [...***...] advance written notice to PII. Either party
may terminate this Agreement if the other party is in default of any of its material obligations sot forth herein, and such breach is not cured within [...***...], which time period shall be reduced to [...***...] for any default of any
monetary obligation, after receipt by the breaching party of a written notice from the non-breaching party that describes such breach in reasonable detail. Upon any termination described in this Section 7, Customer shall pay all costs incurred
by PII for work performed in accordance with any applicable Service Contract prior to the effective date of termination, provided PII provides written evidence that such costs have been incurred and such work performed; provided that in no event
shall Customer be required to make any payment in excess of the maximum payment specified in the applicable Service Contract. Upon any termination described in this Section 7, Customer shall be reimbursed any amounts paid in advance by Customer
to PII for Projects not performed prior to the effective date of termination. 
 8.0 Compliance with Laws 

Each party shall, at its own expense, comply with all applicable Laws, including any United States law, statute, ordinance, administrative
order, rule or regulation, relating to its duties, obligations and performance under this Agreement, and shall procure all licenses and pay all fees and other charges required thereby. 

9.0 Warranties 
 9.1 PII
represents, warrants and covenants to Customer that it will perform all of its obligations under this Agreement in accordance with all Laws, this Agreement and the Requirements. Without limiting the generality of the foregoing, PII warrants and
covenants that (a) each Project shall be performed in conformity with the Laws and the Requirements, and all Product shall be manufactured in compliance with cGMPs; (b) to PII’s actual knowledge, the performance of the Projects
(including manufacture of Product) will not infringe or misappropriate any intellectual property right of any third party, except to the extent such Projects are performed in accordance with the Service Contract or other written instructions given
by Customer; (c) each shipment or other delivery of Product made by it under this Agreement, as of the date of such shipment or delivery, shall conform to the Specifications, shall be free and clear of any lien or encumbrance, and shall not be
adulterated or misbranded within the meaning of the Federal Food, Drug, and Cosmetic Act (“Act”), nor an article which may not, under the provisions of Section 505 of the Act, be introduced into interstate commerce; and (d) it
has and will maintain during the term of this Agreement, all government permits (including without limitation health, safety, and environmental permits), licenses, and registrations required by Regulatory Authorities, that are necessary for the
conduct of the actions and procedures that it undertakes pursuant to this Agreement. Further, PII represents, warrants and covenants to Customer that PII has not been debarred and shall not employ, contract with or retain any person directly or
indirectly to perform work under this Agreement if such person has been debarred or is, to its knowledge, under investigation for debarment under the provisions of the Generic Drug Enforcement Act of 1992, including without limitation, 21 U.S.C.
Section 335a. If at any time during the term of this Agreement PII (i) becomes debarred, or (ii) receives notice of action or threat of action with respect to its debarment, PII shall notify Customer immediately. In the event that PII
or any such person becomes debarred as set forth above, PII shall immediately notify Customer and Customer shall have the right to terminate this Agreement immediately. 
  

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 9.2 Customer represents, warrants and covenants to PII that, except to the extent that any
of the following are the obligations of PII: (a) Customer shall comply with applicable Laws and Customer shall keep PII fully informed of any development relating to API or Product that would affect PII’s performance of any Project with
respect to the Product hereunder; (b) in the event Customer ships Product outside of the United States, Customer shall comply fully with all export administration and control laws and regulations of the United States government as may he
applicable thereto; (c) any API furnished by Customer shall meet the applicable specifications provided by Customer, and shall before use in the further processing of the Product and, to the extent of-Customer’s knowledge, shall not
contain any viruses or other deleterious substances which could contaminate the processing operations of PII; and (d) Customer will provide PII with data on the chemical and physical properties, toxicity, and handling, storing, and shipping
information for any Customer Materials (including API) and the Product (MSDS or equivalent) and any other information available to Customer that is necessary for the sale conduct of the manufacturing of the Product by PII and shall update all of
such information provided to PII as such information becomes available to Customer. 
 9.3 Disclaimer of Warranties.
EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY TO THE OTHER PARTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE. 
 9.4 Limitation of Liability. EXCEPT FOR AN INTENTIONAL OR WILLFUL BREACH OF ARTICLE
6, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY LOST PROFITS, LOST SAVINGS, OR ANY OTHER INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, ARISING OUT
OF OR IN CONNECTION WITH THIS AGREEMENT; provided, however, that this Section 9.4 shall not limit either party’s indemnification rights or obligations under Article 10 with respect to Claims of third parties other than with respect to
Claims of third parties in contractual privity with the party seeking indemnification, which shall be so limited. 
 10.0 Indemnification

 10.1 Customer shall indemnify, defend and hold harmless PII, its affiliates, and its and their directors, officers,
employees, agents and consultants from and against any and all losses, liabilities, costs and expenses, including without limitation, reasonable attorneys’ fees and the cost of recalls (collectively “Damages”) incurred by them as a
result of any third party claim, lawsuit, demand, action or proceeding (“Claim”) arising out of or in connection with: 

(a) injuries and/or death to humans resulting from the use of any Customer Materials provided to PII by Customer or from the
commercialization, use or sale of Product or other Deliverables by or on behalf of Customer, including, without limitation, claims based on negligence, warranty, strict liability or any other theory of product liability or a violation of applicable
laws or regulations, 
 (b) negligence or willful misconduct in advertising, labeling, or improper handling and storage of
Customer Materials or Product by any person other than PII or its subcontractors, 
 (c) any instructions given by Customer in
connection with any Customer Material, 
  

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 (d) any breach by Customer of any covenant, representation, warranty or agreement hereunder,
or 
 (e) patent infringement relating to any Customer Materials or PII’s Services in accordance with the master batch
records, the applicable Service Contract and this Agreement, to the extent that such infringement does not arise as a result of a breach of this this Agreement by PII, including any representation or warranty of PII hereunder, 

except, in each case, to the extent Damages result from the breach by PII of any representation, warranty, covenant or agreement made by
it under this Agreement or the negligence or willful misconduct of PII or any of its affiliates and their stockholders, directors, officers, employees, agents and consultants. 

10.2 PII shall indemnify, defend and hold harmless Customer and Customer’s affiliates, and its and their directors, officers,
employees and agents and consultants from and against any and all Damages incurred by them as a result of any Claim arising out of or in connection with: 

(a) any negligence or willful misconduct of PII in performing the Services, or 

(b) any breach by PH of any covenant, representation, warranty or agreement hereunder; 

except, in each case, to the extent such Damages result from the breach by Customer of any representation, warranty, covenant or
agreement made by it under this Agreement or the negligence or willful misconduct of Customer or any of its affiliates and their stockholders, directors, officers, employees, agents and consultants. 

10.3 In the event that either party seeks indemnification (an “Indemnified Party”) under the terms of this Section 10, it
shall provide written notice (the “Claim Notice”) to the other party (an “Indemnifying Party”) of the claim as soon as reasonably practicable after it receives notice thereof, and shall permit the Indemnifying Party, at the
Indemnifying Party’s election and cost, to assume direction and control of the defense of the claim. After delivery of such Claim Notice, if the Indemnifying Party acknowledges in writing to the Indemnified Party that the Indemnifying Party
shall be obligated under the terms of its indemnity hereunder in connection with such lawsuit or action, then the Indemnifying Party shall be entitled, if it so elects, (a) to take control of the defense and investigation of such lawsuit or
action, (b) to employ and engage attorneys of its own choice to handle and defend the same, at the Indemnifying Party’s cost, risk and expense unless the named parties to such action or proceeding include both the Indemnifying Party and
the Indemnified Party and the Indemnified Party has been advised in writing by counsel that there may be one or more legal defenses available to the Indemnified Party that are different from or additional to those available to the Indemnifying
Party, and (c) to compromise or settle such claim, which compromise or settlement shall be made only with the written consent of the Indemnified Party, such consent not to be unreasonably withheld. If the Indemnifying Party fails to assume the
defense of such claim within fifteen (15) calendar days after receipt of the Claim Notice, the Indemnified Party shall (upon delivering notice to such effect to the Indemnifying Party) have the right to undertake, at the Indemnifying
Party’s cost and expense, the defense, compromise or settlement of such claim on behalf of and for the account and risk of the Indemnifying Party. In the event the Indemnified Party assumes the defense of the claim, the Indemnified Party shall
keep the Indemnifying Party reasonably informed of the progress of any such defense, compromise or settlement. The Indemnifying Party shall be liable for any settlement of any action effected pursuant to and in accordance with this Section 10
and for any final judgment (subject to any right of appeal), and the Indemnifying Party agrees 
  

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to indemnify and hold harmless an Indemnified Party from and against any Damages by reason of such settlement or judgment. 

10.4 Insurance. 

10.4.1. Effective immediately upon execution of this Agreement, PII shall maintain insurance or self-insurance that is reasonably
adequate to fulfill any potential obligation to Customer under this Agreement, but in any event not less than [...***...] for injuries to any one person arising out of a single occurrence and [...***...] for injuries to all persons
arising out of a single occurrence. PII shall provide Customer, upon request, with written evidence of such insurance or self-insurance. PII shall continue to maintain such insurance or self-insurance after the expiration or termination of this
Agreement during any period in which PII or any of its affiliates or Customer-approved sublicensees continues to perform under this Agreement and thereafter for a period of [...***...]. 

10.4.2. Effective immediately upon execution of this Agreement, Customer shall maintain insurance or self-insurance that is reasonably
adequate to fulfill any potential obligation to PII under this Agreement, but in any event not less than [...***...] for injuries to any one person arising out of a single occurrence and [...***...] for injuries to all persons arising
out of a single occurrence. Customer shall provide PII, upon request, with written evidence of such insurance or self-insurance. Customer shall continue to maintain such insurance or self-insurance after the expiration or termination of this
Agreement during any period in which PII or any of its affiliates or Customer-approved sublicensees continues to perform under this Agreement and thereafter for a period of [...***...]. 

11.0 Disputes; Arbitration 

11.1 Except as provided in Section 11.3 below or in Section 2.8 with respect to disputes regarding non-conforming shipments, all
disputes, controversies or claims arising out of or relating to the operation or interpretation of this Agreement shall be resolved by arbitration before one arbitrator in accordance with the Commercial Rules of the American Arbitration Association.
The arbitrator shall be jointly selected by the parties. Any award rendered by the arbitrator shall be final and binding upon the parties and judgment upon any such award may be entered in any court having jurisdiction thereof. Arbitration shall be
conducted in New York City, New York, or such other location as is mutually agreed to in writing by the parties. 
 11.2 The
arbitrator shall award attorneys’ fees and other costs of the arbitration, including the fees and expenses of the arbitrator, to the prevailing party, as determined by the arbitrator. 

11.3 Notwithstanding anything to the contrary contained in this Section, in the event of any breach or threatened breach of this
Agreement by either party that the other party believes will cause irreparable harm and damage to it, such party shall be entitled to an injunction, restraining order restraining such breach or threatened breach by the other party and all other
remedies which shall be available to it at law or in equity and the parties irrevocably submit to the jurisdiction of any state or federal court sitting in New York City, New York over any such suit, action or proceeding. Each party irrevocably
waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding
brought in any such court has been brought in an inconvenient forum. 
  

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 12. Force Majeure Notwithstanding anything to the contrary contained herein, neither party
shall be liable for non-performance or late performance of any of its obligations under this Agreement (other than obligations to pay money) to the extent such non-performance or late performance is due to reasons of strike, riots, war, act of God,
invasion, acts of terrorism, fire, explosion floods, interruption of or delay in transportation, shortage or failure in the supply of Customer Materials, acts of government or governmental agencies or instrumentalities and any other contingencies
beyond the party’s reasonable control. 
 13. Non-Solicitation During the term of this Agreement and for a period of
[...***...] thereafter, regardless of the reason for such termination, neither party shall, directly or indirectly, without the prior written consent of the other party, solicit or hire, as an employee or independent contractor, any person who
is, or was at any time, employed by or under contract with the other party, unless at the time of the solicitation or hiring, at least [...***...] shall have elapsed since the person was last employed by or under contract with the other party;
provided, however, that the limitations in this Article 13 shall not apply to the hiring of any person who replies to a general advertisement of such party. 

14. Miscellaneous 
 14.1
Use of Name. PII shall permit Customer to reference PII’s work hereunder in any filing that Customer may make with any governmental or regulatory agency anywhere in the world, and upon Customer’s request PII shall promptly provide
Customer with a letter of permission or other documentation deemed reasonably necessary by Customer to evidence such right. 

14.2 Governing Law. This Agreement shall be governed by the laws of the State of New York without regard to the principles of
conflict of law doctrines of New York or any other jurisdiction. 
 14.3 Taxes. Each party shall have the sole
responsibility for the payment of all taxes and duties imposed by all governmental entities, as they pertain to its duties, obligations and performance under this Agreement, provided that Customer shall pay all federal, state and local taxes, if
any, based upon the Project or Deliverables provided by PII under this Agreement. 
 14.4 Assignment. Neither party may
assign this Agreement or any of its rights or obligations hereunder without prior written consent of the other party hereto; provided, however, that each party may assign this Agreement and its rights and obligations hereunder, upon written notice
to the other party, to an entity that (i) consolidates or merges with or buys all or substantially all the assets of the transferring party, or (ii) controls, is under common control with, or is controlled by the transferring party;
provided, however such assignment shall not relieve the assigning party of its obligations hereunder. 
 14.5 Waiver;
Integration; Modification. The waiver of the breach of any term or provision of this Agreement shall not operate as or be construed to be a waiver of any other or subsequent breach of this Agreement. This Agreement (which includes any Service
Contract(s)) sets forth the entire agreement between the parties with respect to the subject matter of this Agreement and merges and supersedes all prior discussions, agreements and understandings of every nature between them. In the event of any
conflict between the terms set forth herein or the terms set forth or referred to in the Service Contract(s), the terms set forth in this Agreement shall control. No modification or amendment to this Agreement, any Service Contract or any other
agreement with respect to the subject matter of this Agreement shall be effective unless stated in writing and signed by the parties. Service Contracts hereunder submitted by Customer to PII shall reference this Agreement and be governed exclusively
by the terms and conditions contained herein. Any term or condition in any order, confirmation, or other 
  

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document furnished by Customer or PII which is in any way inconsistent with these terms and conditions is hereby expressly rejected. 

14.6 Construction. Whenever the context may require, the singular form of names and pronouns shall include the plural and
vice-versa. The section and subsection headings are included solely for the convenience of the parties and shall not be used in the interpretation of this Agreement. No rule of construction shall apply to this Agreement that construes any language,
whether ambiguous, unclear or otherwise, in favor of or against any party based on the party that drafted such language. 
 14.7
Counterparts. This Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. 

14.8 Survival. No termination or expiration of this Agreement shall relieve the parties hereto of any obligation hereunder which
by its terms is intended to or may survive the termination or expiration of this Agreement, including, without limitation, Sections 2.4, 2.5, 2.7, 2.8, 2.9, 4.5, 9.3 and 9.4, and Articles 5, 6, 7, 10, 11, 12, 13 and 14, which will survive expiration
or termination of this Agreement. 
 14.9 Relationship Between Parties. PII’s relationship to Customer shall be that
of an independent contractor. No persons engaged by PII shall be considered under the provisions of this Agreement or otherwise as an employee of Customer. Nothing contained in this Agreement shall create or imply the creation of a partnership
between Customer and PII and neither party shall have any authority (actual or apparent) to bind the other. 
 14.10 Notices;
English Language. All notices, requests, consents and other communications (“Notices”) hereunder to either party shall be made in writing (whether or not specifically required herein) and deemed to be sufficient if contained in a
written instrument delivered in person or duly sent by first class registered or certified mail, postage prepaid, or by next day express delivery service or by facsimile (with written confirmation of receipt) with a confirmation copy by next day
express delivery service. All notices shall be addressed to such party at the address set forth above or such other address as may hereafter be designated in a notice duly given as set forth above. All Notices shall be deemed to have been received
on the day of delivery, if delivered in person, or on the third business day following the date that the original notice is mailed, if delivered by first class mail, or on the next business day following the date the original notice or confirmation
copy (as the case may be) is sent by next day express delivery service or facsimile. All communication hereunder, and all written Project Materials and Deliverables, shall be in the English language. 

14.11 Notification Of Sub-Contract Labs. Insofar as PII anticipates using contract laboratories for some of the activities
described in this Agreement, PII shall notify Customer, and obtain Customer’s prior written consent, when use of such contract laboratories becomes necessary. Customer hereby consents to the contract laboratories listed on Schedule 14.11
attached hereto. PII shall be responsible for assuring that any contract lab used complies with PII’s obligations hereunder. 

[remainder of page intentionally blank] 
  

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 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed the day and year
first above written. 
  

											
	HORIZON THERAPEUTICS, INC.	 		 	PHARMACEUTICS INTERNATIONAL, INC.
					
	By:	 	 /s/    Robert DeVaere        

	 		 	By:	 	 /s/    Steve
King        

		 	Name:	 	 Robert DeVaere
	 		 		 	Steve King, Senior Vice President
		 	Title:	 	 Executive Vice President & CFO
	 		 		 	

  

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 Schedule 14.11 - Permitted contract laboratories 

[...***...] 
  

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