Document:

Exhibit 10.5.1
   

Confidential portions of this
document have been omitted and filed separately with the Commission. The omitted portions
have been marked as follows: “***”. 

EXECUTION
  VERSION  

Addendum
  Agreement 

This Addendum Agreement is
  made this 28 day of December 2000, between Bioglan Pharma PLC of 5, Hunting
  Gate, Hitchin, Hertfordshire SG4 OTJ (“Bioglan”) and Jagotec AG of
  Eptingerstrasse 51, CH-4132 Muttenz, Switzerland (“Jago”). 

Bioglan and Jago entered
  into a Licence and Manufacturing Agreement dated March 13th 2000 (“the
  Licence Agreement”) for the Product Solaraze, for certain European countries
  including the United Kingdom, France, Germany, Italy and Sweden. 

Under such Licence Agreement,
  Jago granted Bioglan a right of first refusal to make, distribute, and sell the
  Product in all other countries of the world. 

Jago and its affiliate SkyePharma
  Inc have the right to grant licences and marketing authorisations for the United
  States of America, Canada and Mexico. Bioglan now wishes to exercise its right
  of first refusal with respect to these countries. 

This Addendum Agreement is intended
to be read in conjunction with the Licence Agreement and, save where expressly stated in
this Addendum Agreement, the terms of the Licence Agreement shall apply to the Additional
Territory and shall remain in full force and effect in relation to the Territory. 

OPERATIVE PARTS  

	Al. 	Definitions
      

In this Agreement all words
  and expressions shall have the meanings as set out in the Licence Agreement
  unless otherwise set out below: 

“Additional Territory”
  shall mean The United States of America, Canada and Mexico.

“Competent Authority”
  shall mean collectively the entities in all countries of the Additional Territory
  responsible for the regulation of the Product.

“FDA” means the United
  States Food and Drug Administration or any successor agency thereto. 

“Marketing Authorisations”
  shall mean all necessary and appropriate regulatory approvals, excluding pricing
  and reimbursement approvals, to put the Product on the market in any country
  of the Additional Territory. 

“NDA” means a New
  Drug Application and all amendments and supplements thereto, filed with the
  United States FDA. 

“NDS” means
  a New Drug Submission and all amendments and supplements thereto, filed with
  the Canadian TPP.

 
	 	
	 

 

EXECUTION VERSION 

“Patent Rights” means
  all rights as set out in the Agreement and shall include all patent rights to
  the Product in the Additional Territory. 

“TPP” means the Canadian
  Therapeutic Products Program. 

	A2 	Marketing
      Authorisations 

SkyePharma Inc (SkyePharma) hereby
transfers NDA No.21-005 and NDS No. 06773 and all Marketing Authorisations related to the
Product to Bioglan.  

	A3 	Fees and
      Royalties 

	A3.1 	 In partial
      consideration for the license granted under this Agreement and in consideration
      for the transfer of the NDA and NDS and all other Marketing Authorisations
      related to the Product, Bioglan has paid or shall pay to Jago the following
      amounts 

	a)  	*** paid on 28th December 2000 

	b)  	*** payable within 5 (five) business days of First Commercial
Sale of Product by Bioglan in any country in the Additional Territory 

	c)  	*** within 5 (five) business days of December 31 2001. 

	d)  	Milestone
      payments in respect of the calendar year in which commercial sales of the
      Product in the Additional Territory shall first reach:

 

	 	*** 

      *** 

      *** 

      *** 

      ***

	  	 The parties
      agree that in no event shall the total milestones payable under this clause
      A3.1(d) exceed *** dollars  (***) 

	  	 The milestone
      payments set out in d) above are based on revenue forecasts for commercial
      sales of the Product of: 

	  	 ***
                 Year 1
      

      ***            Year
      2 

      ***            Year
      3 

      ***            Year
      4 

      ***            Year
      5 

	  	 Where Year
      1 is the first consecutive twelve month period immediately following the
      first commercial sales of the Product in any country of the Additional Territory
      and Years 2, 3, 4 and 5 follow consecutively thereafter 

	A3.2  	In
further consideration for the grant of this exclusive licence in the Additional 

 
	 	
	 

 

EXECUTION VERSION 

	  	
Territories
Bioglan shall pay Jago royalties based on the commercial sales of the Product in the
Additional Territories as follows:  

 

	   	 i) 	In any twelve
      month period of commercial sales of the Product, where sales of the Product
      meet or exceed 50% of the forecast for that year a royalty of *** of Net
      Sales shall apply. 

	   	 ii) 	In any twelve
      month period of commercial sales of the Product, where sales of the Product
      are between 25% and 50% of the forecast for that year, a royalty of ***
      of Net Sales shall apply. 

	   	 iii) 	In any twelve
      month period of commercial sales of the Product, where sales of the Product
      are less than 25% of the forecast for that year, a royalty of *** of Net
      Sales shall apply. 

In the event that commercial
  sales of the Product reach a threshold resulting in a higher royalty payment
  for the first time during any such twelve month period that higher rate will
  apply to all commercial sales of the Product in that 12 month period. A calculation
  will thereafter be made at the end of each twelve month period to determine
  the royalty rate for that preceding twelve month period. 

In all cases Year 1 is the
  first consecutive twelve month period immediately following the first commercial
  sale of the product in any county of the Additional Territory and Years 2, 3,
  4 and 5 follow consecutively thereafter. 

	A4 	Regulatory
      Matters 

	A4.1  	Unless otherwise
      required by applicable laws, Bioglan shall be the owner and holder of all
      Marketing Authorisations during the term of the License granted herein.
      Bioglan agrees at its sole cost and expense to maintain the Marketing Authorizations
      including obtaining any variations or renewals thereof necessary to manufacture,
      market and sell the Product in each country in the Additional Territory.
      

	A4.2  	Each party
      or its relevant Associated Companies shall provide reasonable assistance
      to the other at the other’s request in connection with the transfer
      of the Marketing Authorizations. Bioglan and Jago or their relevant Associated
      Companies shall comply with all Applicable laws within the Additional Territory
      including the provision of information by Bioglan and Jago or their relevant
      Associated Companies to each other necessary for Jago and Bioglan or their
      relevant Associated Companies to comply with any applicable reporting requirements.
      Bioglan shall promptly notify Jago of any comments, responses or notices
      received from, or inspections by, the FDA or other applicable Competent
      Authorities in the Additional Territory which relate to or may impact the
      Product or the manufacture of the Product and shall promptly inform Jago
      of any responses to such comments responses notices or inspections and the
      resolution of any issue raised by the FDA or other Competent Authority in
      the Additional Territory. 

	A4.3  	Each
Party shall advise the other Party by telephone or facsimile within such time as is
required to comply with applicable laws after it becomes aware of any potentially serious
or unexpected adverse event (including adverse drug  

 
	 	
	 

 

EXECUTION VERSION  

	 	experiences as
      defined in 21 C.F.R. S.314.80 or other applicable regulations) (an “ADE”)
      involving the Product. Such advising Party shall provide the other party
      with a written report delivered by confirmed facsimile of any adverse reaction
      stating the full facts known to such Party including but not limited to
      customer name, address, telephone number, batch lot and serial numbers and
      other information as required by Applicable Laws. Bioglan shall have full
      responsibility for (i) monitoring such adverse reactions (ii) data collection
      activities that occur between Bioglan and the patient or medical professional
      as appropriate including any follow-up inquiries which Bioglan deems necessary
      or appropriate and (iii) making any reports to the competent Authorities in
      the Additional Territory. 

	A4.4  	In
the event that Jago requires access to the NDA and/or NDS for commercial reasons outside
the Additional Territory and/or the Territory, Bioglan shall permit such access as the
parties may agree at Jago’s expense and grant a right of reference for use outside the
Additional Territory by Jago, its Associated Companies and their respective sub-licensees. 

	A4.5  	In
the event that Jago desires access to the NDA and/or NDS for commercial reasons for use
only by Jago, its Associated Companies or their respective sub-licensees Bioglan shall
permit such access as the parties may agree at Jago’s expense and grant a right of
reference for use inside the Additional Territory in respect of any product (for use
outside the Field) other than the Product. 

	A5. 	Manufacturing
      

	A5.1  	Bioglan
shall use its commercially reasonable efforts to enter in to a manufacturing and supply
agreement with Patheon Y.M. Inc. (formally Global Pharm Inc) on terms reasonably
acceptable to it as soon after execution of this Agreement as is possible. 

	A6. 	Amendments
      

The following changes to the Licence
Agreement shall apply in respect of both the Territory and the Additional Territory 

	A6.1  	The
definition of  “Good Manufacturing Practice” in relation to the Additional Territory
shall be amended to read, “Good Manufacturing  Practice”  or “GMP” shall mean all applicable
laws of any governmental or regulatory authority having jurisdiction over the
manufacturer of the Products, which laws and regulations relate to current good
manufacturing practices.” 

	A6.2 	The condition
      precedent set out in the Agreement shall be deleted. 

 
	A6.3 	Clause 5.7
      of the Agreement shall be amended to read as follows: 

“Bioglan shall market the
  Product under any trademarks chosen by Bioglan. Bioglan shall meet all responsibilities
  of monitoring such trademarks in the Territory, It is hereby agreed that all
  rights in such trade will vest absolutely in Bioglan”.

  

   

 
	 	
	 

 

EXECUTION VERSION 

	A6.4  	The parties
      agree that the provisions of Clauses 6.1 and 8.7 shall be expanded to include
      the company, *** in addition to ***. 

	A6.5  	Clause
10.6 shall apply in respect of the Additional Territory as if reference to Clause 3.1
were to Clause A3.1 of this Addendum Agreement. 

This Addendum Agreement has been
entered into on the date first written above 

BIOGLAN PHARMA
  PLC 

	 	 /s/ Don
      Gill
      

    
	BY 	Don Gill
      

    
	TITLE 	Director
      

    

JAGOTEC AG 

	 	/s/ Suzanne
      V. McLean
      

    
	BY 	Suzanne
      V. McLean
      

    
	TITLE 	General
      Counsel & Company Secretary
      

    

	 	 /s/ Francesco
      Patalano 
      

    
	BY 	Francesco
      Patalano 
      

    
	TITLE 	DirectorExhibit 10.5.2

Confidential portions of this
document have been omitted and filed separately with the Commission. The omitted portions
have been marked as follows: “***”. 

Second Addendum 

This Addendum Agreement is
  made this            day
  of December 2001, between Bioglan Pharma PLC of 5, Hunting Gate, Hitchin, Hertfordshire
  SG4 DTJ (“Bioglan”) and Jagotec AG of Eptingerstrasse 51, CH-4132
  Murtenz, Switzerland (“Jago”) and Quintiles Ireland Limited of East
  Point Business Park, Fairview, Dublin 3, Ireland (“Quintiles”). 

WHEREAS: 

A. Bioglan and Jago entered
  into a Licence and Manufacturing Agreement dated March 13th 2000 (“the
  Licence Agreement”) for the Product Solaraze®,
  for certain European countries including the United Kingdom, France, Germany,
  Italy and Sweden with a right of first refusal to make distribute and sell the
  Product in all other countries of the world. 

B. Bioglan and Jago entered
  into an Addendum Agreement dated December 28th 2000 (the “First Addendum”)
  amending the Licence Agreement and under which Bioglan was granted a licence
  and Jago agreed to transfer all NDA’s and NDS’s and all other Marketing
  Authorizations related to the Product, Solaraze®, for the Additional
  Territory (as defined in the First Addendum).  

C. The following further
arrangements were made in relation to                  the First Addendum and the Licence
Agreement. 

(i)                       by way of
letter dated 14 May 2001, Jago transferred                           to Bioglan
authorizations for the Additional                           Territory; 

(ii)                      by
Amendment number 1 dated 27 June 2001, Jago and                           Bioglan agreed
that *** was to be payable by                           Bioglan within 90 business
days of 30 June 2001; 

(iii)                     by way of
letter dated 4 October 2001 SkyePharma PLC,                           on behalf of Jago,
forbore its right to insist on                           immediate payment of the
*** payable by Bioglan                           within 90 business days of 30
June 2001 on the basis                           that the *** was to be paid upon
the invoice of                           the first product shipped in respect of US
launch with                           in any event, *** being payable by 31
December                           2001. 

D. By way of a letter dated
  20 November 2001, Jago reinstated its request for immediate payment of the ***
  payable with 90 business days of 30 June 2001 and gave Bioglan notice to terminate
  the Licence Agreement (in accordance with its terms) on the basis of, amongst
  other things, Bioglan’s material breach of the Licence Agreement, being
  its failure to pay the above sums (the “Notice Letter”). 

The parties agree as follows: 

SAI. Relationship between the
Licence Agreement and the Second Addendum 

SAI.1 The terms and conditions
  set out in the Licence Agreement shall remain in full force and effect in relation
  to the Territory (as defined in the Licence Agreement) except as expressly varied
  by the terms set out in the First Addendum (as amended) or this Second Addendum.
  

 

	  page
      39 

SAI.2 This Second Addendum
  is intended to be read in conjunction with the Licence Agreement and the First
  Addendum (as amended) and, save where expressly stated in this Second Addendum,
  the terms of the Licence Agreement and the First Addendum shall apply to the
  Additional Territory. 

SAI.3 Defined terms shall have the
meaning given in the                   Licence Agreement or the First Addendum (as
amended) as the                   case may be unless specified otherwise in this Second
                  Addendum. 

SAI.4 Jagotec, Bioglan and Quintiles
hereby acknowledge that                   pursuant to clause 3 of the Deed of Variation
and Novation                   entered into by the parties hereto together with Bioglan
                  Pharma Inc on even date herewith (the “Deed of Variation and
                  Novation”) the Agreements (as defined in clause SA4.1 below)
                  shall be treated such that they shall operate as separate
                  agreements, one between Quintiles and Jago in respect of the
                  Additional Territory and one between Bioglan and Jago in
                  respect of the Territory. The parties hereto agree that where
                  reference is made in this Second Addendum to the Additional
                  Territory it shall refer to a right or obligation of Quintiles
                  and where a reference is made to the Territory it shall refer
                  to a right or obligation of Bioglan. 

SA2. Fees and Royalties 

SA 2.1 In consideration of
  the novation of the Agreements (as defined in clause SA4.1 below) to Quintiles
  to the extent they relate to the Additional Territory in accordance with the
  Deed of Variation and Novation (as defined in clause SA1.4 above) Bioglan shall
  pay *** to Jago
  and Quintiles shall pay  *** to Jago each
  payment to be made within two Business Days of the date hereof. The payment
  by Bioglan of *** US dollars shall be in full
  satisfaction of the obligations set out in sub-clauses A3.1(b) and (c) of First
  Addendum (as amended). 

SA2.2 In the event that Bioglan
grants any sub licence or                  distribution rights in respect of the Bioglan
Territories (as                  defined in clause 2.4.1 of the Licence Agreement as
amended by                  this Second Addendum) or Quintiles does so in respect of the
                 Additional Territory, pursuant to and in accordance with clause
                 2.4 of the Licence Agreement (as amended by the Second
                 Addendum), Bioglan shall pay royalties in accordance with the
                 terms of clause 3.2 of the Licence Agreement in respect of the
                 Bioglan Territories and Quintiles shall do so in accordance
                 with the terms of clause A3.2 of the First Addendum. In respect
                 of the Additional Territory whether the commercial sales of the
                 Product are made by Bioglan in the Bioglan Territories or
                 Quintiles in the Additional Territory or not. 

	SA3 	  	Grant
of sub licences  

	SA3.1  	  	Clause
2.4 of the Licence Agreement shall be deleted and                   replaced with the
following  

	2.4.1  	  	In
relation to:  

	  	(a)  	  	 Germany,
France , Sweden and the United Kingdom;                           and  

	  	(b)  	  	 (save
where a sub-licence has been granted in                           which case the
provisions of clause 2.4.2 shall apply)                           any other countries in
the Territory where now or in                           the future Bioglan is itself or
has an Associated                           Company of Bioglan reasonably capable of
performing                           its obligations under the Licence Agreement ((a) and
                          (b) together the “Bioglan Territories)  

	  	 Bioglan shall
      be entitled to grant sublicences, without the prior written consent of Jago
      provided that such sub-licences require compliance by the sub-licensees
      with clauses 4.2, 

 

	  page
      40 

	  	
5.4.5,
5.8, 8.1, 8.2, 9.1, 10.1, 11,                          14.4 and 19.3 of this Agreement
and on condition that                          any such sublicences so granted shall
terminate                          immediately to the extent that this Agreement is
                         terminated in relation to the Territory. 

	               2.4.2  	  	In
relation to all countries in the Territory other than                       the Bioglan
Territories, the provisions relating to                       sub-licensing as set out in
clauses 2.4 and 3.4 of the                       Licence Agreement shall continue to
apply. 

	               2.4.3  	  	In relation
      to the Additional Territory, Quintiles shall be entitled to grant sub-licences,
      without the prior written consent of JAGO, provided that such sub-licences
      require compliance by the sub-licensees with clauses 4.2, 5.4.5, 5.8, 8.1,
      8.2, 9.1, 10.1, 11, 14.4 and 19.3 of this Agreement and on condition that
      any such sub-licences so granted shall terminate immediately to the extent
      that this Agreement and the First Addendum is terminated in relation to
      the Additional Territory. 

	               2.4.4  	  	For the avoidance
      of doubt the termination for whatever reason of this Agreement in relation
      to either the Territory or the Additional Territory shall not affect the
      continuation of this Agreement or the relevant licensee’s rights or
      relevant sub-licensees’ rights in respect of the Territory or the Additional
      Territory (as the case may be) in relation to which this Agreement has not
      been terminated. 

	                      2.4.5  	  	In
the event that Bioglan grants any sub-licence in                       the Territory or
Quintiles does so in the Additional                       Territory, Bioglan confirms
that it will ensure that Jago                       receives all sums properly due to it
pursuant to and in                       accordance with clauses 3.2 or 3.4 (as the case
may be) of                       the Licence Agreement in respect of the Territory and
                      Quintiles so confirms that it will ensure that Jago
                      receives all sums properly due to it pursuant to clause
                      A3.2 of the First Addendum in respect of the Additional
                      Territory. For the avoidance of doubt clause 3.4 of the
                      Licence Agreement shall not apply to any sublicences
                      granted in respect of either the Bioglan Territories or
                      the Additional Territory. 

	                      2.4.6  	  	In relation to
      any sub-licence granted, if the sub-licensee, by any act or omission is
      in breach of such sub-licence Bioglan in respect of the Territory and Quintiles
      in respect of the Additional Territory shall take such steps as may be necessary
      to either remedy or procure the remedy by the sub-licensee of such breach.
      If such breach is not remedied within 45 days Bioglan in respect of the
      Territory and Quintiles in respect of the Additional Territory shall take
      all reasonable steps to enforce its rights to terminate such sub-licences.
      A failure by Bioglan in respect of the Territory and Quintiles in respect
      of the Additional Territory to comply with this clause shall constitute
      a material breach under clause 14.6.1 of the Licence Agreement.” 

	               SA4  	  	Termination
Provisions 

	 
      SA4.1 

	  	
      Upon payment by Bioglan
        in full of the sum of *** and payment by Quintiles in full of the sum of *** in accordance with SA2.1 above, Jago shall unconditionally
        withdraw the notice of termination set out in the Notice Letter and shall
        irrevocably waive any claims it may have against Bioglan in respect of
        the matters set out in such Notice Letter. Notwithstanding the provisions
        of clause 14 of the Licence Agreement, if payment is not received by Jago
        in accordance with clause SA2.1 above, Jago shall have the right to terminate
        the Licence Agreement, the First Addendum (as amended) and this Second
        Addendum (the “Agreements”) forthwith by giving notice in writing
        to Bioglan and to Quintiles, and thereafter neither Bioglan nor Quintiles
        shall have any rights in relation to the Product whatsoever whether in
        the Territory, the Additional Territory or otherwise. 

       

	  	                                 (a)  	  	SA4.2
In further consideration of the                                  payments of the sums in
accordance with clause                                  SA2.1 Jago hereby for the period
expiring at                                  the end of 31 January 2002  

 

	  page
      41 

	  	 irrevocably waives
      any rights it may have at any time in such period to serve any termination
      notices pursuant to clause 14.6.1 of the Licence Agreement during such period
      but such waiver shall be without prejudice to any other rights Jago may
      have or may acquire during that period and shall not prevent Jago from serving
      any notice of termination after such period in relation to such or any rights
      it may have or may acquire during that period; and 

	  	                          (b)  	  	agrees
that if from and including 1 February                                   2002 to 15
February 2002, Jago serves a notice                                   to terminate the
Agreements in respect of the                                   Territory pursuant to
clause 14.6.1 of the                                   Licence Agreement Jago shall
forthwith                                   unconditionally withdraw such notice without
                                  prejudice to any other rights Jago may have or
                                  may acquire, if, during the required 45 day
                                  notice period, Quintiles or an Associated
                                  Company of Quintiles makes an investment in
                                  Bioglan in the form of a subscription for
                                  shares in Bioglan which will result in
                                  Quintiles or an Associated Company of
                                  Quintiles being interested in for the purposes
                                  of section 198 of the Companies Act, 1985 more
                                  than 5% of the issued share capital of Bioglan
                                  or otherwise provides financing to Bioglan (in
                                  the form of debt, loan capital or other form
                                  of indebtedness) or repays or settles all or
                                  part of Bioglan’s indebtedness (or any
                                  combination of the above) in each cause in
                                  respect of an aggregate amount which, if it had
                                  been made in the form of a subscription for
                                  ordinary shares, would result in Quintiles or
                                  an Associated Company of Quintiles being
                                  interested in for the purposes of section 198
                                  of the Companies Act 1985 more than 5% of the
                                  issued share capital of Bioglan. 

	                  SA5.  	  	Amendments 

SA5.1 The reference in clause A6.4
of the First Addendum to                  clause 6.1 of the Licence Agreement shall be
replaced by a                  reference to clause 4.1 of the Licence Agreement. 

SA5.2 Clause 14.3 of the Licence
Agreement shall be deleted. 

SA5.3 Clause 5.7 of the Licence
  Agreement shall be deleted and shall be replaced by the following: 

	  	 5.7 BIOGLAN shall
      market the Product under any trade mark chosen by BIOGLAN. BIOGLAN shall
      meet all responsibilities of maintaining such trade mark in the Territory
      and the Additional Territory. It is hereby agreed that during the term of
      this Agreement all rights in such trade marks rest absolutely in BIOGLAN.
      On termination of this Agreement for whatever reason and whether in respect
      of either or both of the Territory and the Additional Territory BIOGLAN
      or Quintiles (as the case may be) shall and shall procure that all relevant
      third parties shall assign to JAGO with full title guarantee all registrations
      and applications for the trade marks SOLARASE, SOLARAZE, any confusingly
      similar marks and any marks containing any such marks (the “SOLARAZE
      Marks”), including all statutory, common law or other rights attaching
      thereto and the right to sue for past infringements and to retain any damages
      obtained as a result of such action: 

	  	5.7.1  	  	 to
the extent the Solaraze Marks subsist or have effect                   in the Territory
where there is a termination in respect of                   the Territory; and/or  

	  	                  5.7.2  	  	to the extent
      the Solaraze Marks subsist or have effect in the Additional Territory where
      there is a termination in respect of the Additional Territory. 

	  	 Such assignment
      shall be and BIOGLAN or Quintiles (as the case may be) confirms that such
      assignment shall be made with the goodwill attaching to the SOLARAZE Marks
      and the 

 

	  page
      42 

	  	 goodwill
      of the business in which the SOLARAZE Marks have been used. The consideration
      payable by JAGO for such assignment shall be a fair market value to be agreed
      between Jago and Bioglan or Jago and Quintiles (as the case may be) in good
      faith negotiations. In the event the fair market value cannot be agreed
      by Jago and Bioglan or Jago and Quintiles (as the case may be), either party
      shall be entitled to refer the determination of the fair market valuation
      for such assignment to an expert (acting as an expert and not as an arbitrator)
      agreed between the parties (and if not agreed within a period of 10 business
      days after a request by either party so to agree, appointed by the President
      for the time being of the Chartered Institute of Accountants). The experts
      decision will be binding on the parties (save in the case of manifest error)
      and if Jago decides to proceed with the assignment the consideration payable
      by Jago for such assignment shall be that decided by the expert.” 

This Second Addendum has been
entered into on the date first written above 

BIOGLAN PHARMA PLC 

By Terry 

Title Chairman & CEO

JAGOTEC AG 

By 

Title 

 

	  page
      43 

 

QUINTILES IRELAND LIMITED
  

By 

Title 

 

	  page
      44 

	  	 [Such assignment
      shall be and BIOGLAN or Quintiles (as the case may be) confirms that such
      assignment shall be made with the goodwill attaching to the SOLARAZE Marks
      and the] goodwill of the business in which the SOLARAZE Marks have been
      used. The consideration payable by JAGO for such assignment shall be a fair
      market value to be agreed between Jago and Bioglan or Jago and Quintiles
      (as the case may be) in good faith negotiations. In the event the fair market
      value cannot be agreed by Jago and Bioglan or Jago and Quintiles (as the
      case may be), either party shall be entitled to refer the determination
      of the fair market valuation for such assignment to an expert (acting as
      an expert and not as an arbitrator) agreed between the parties (and if not
      agreed within a period of 10 business days after a request by either party
      so to agree, appointed by the President for the time being of the Chartered
      Institute of Accountants). The experts decision will be binding on the parties
      (save in the case of manifest error) and if Jago decides to proceed with
      the assignment the consideration payable by Jago for such assignment shall
      be that decided by the expert.” 

This Second Addendum has been
entered into on the date first written above 

BIOGLAN PHARMA PLC 

By 

Title 

JAGOTEC AG 

By 

Title 

QUINTILES IRELAND LIMITED 

	/s/ Dennis B. Gillings
      

    
	
      By Dennis B. Gillings
        

       

Title Director 

 

	  page
      45 

	  	 [Such assignment
      shall be and BIOGLAN or Quintiles (as the case may be) confirms that such
      assignment shall be made with the goodwill attaching to the SOLARAZE Marks
      and the] goodwill of the business in which the SOLARAZE Marks have been
      used. The consideration payable by JAGO for such assignment shall be a fair
      market value to be agreed between Jago and Bioglan or Jago and Quintiles
      (as the case may be) in good faith negotiations. In the event the fair market
      value cannot be agreed by Jago and Bioglan or Jago and Quintiles (as the
      case may be), either party shall be entitled to refer the determination
      of the fair market valuation for such assignment to an expert (acting as
      an expert and not as an arbitrator) agreed between the parties (and if not
      agreed within a period of 10 business days after a request by either party
      so to agree, appointed by the President for the time being of the Chartered
      Institute of Accountants). The experts decision will be binding on the parties
      (save in the case of manifest error) and if Jago decides to proceed with
      the assignment the consideration payable by Jago for such assignment shall
      be that decided by the expert.” 

This Second Addendum has been
entered into on the date first written above 

BIOGLAN PHARMA PLC 

By 

Title 

JAGOTEC AG 

	/s/ Donald Nicholson
      

    	/s/ Michael R.D. Ashton 
      

    
	
      By Donald Nicholson
        

       	 Michael R.D. Ashton
	 	 
	Title Financial Director	 CEO 
	 	 

 

QUINTILES IRELAND LIMITED 

 

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