Document:

Alpharma Inc

Alpharma Inc.

One Executive Drive

Fort Lee, New Jersey 07024

March 12, 2002

CIBC Inc.

Banc of America Bridge LLC

/o Banc of America Bridge LLC

9 West 57th Street

New York, New York 10019

Ladies and Gentlemen:

Reference is made to the Shelf Registration Rights Agreement dated December 12, 2001 (the "Registration Agreement"), by and among Alpharma Operating Corporation ("Operating"), the Guarantors listed on Schedule A thereto (such Guarantors and Operating are collectively known herein as "Alpharma"), Banc of America Bridge LLC ("Bridge") and CIBC Inc. ("CIBC").  All terms used in this letter and not otherwise defined shall have the meanings set forth in the Registration Agreement.

Pursuant to Section 3(a) of the Registration Agreement, Alpharma agreed to (x) cause to be filed a Shelf Registration Statement pursuant to Rule 415 under the Securities Act on or before the date which is 90 days from the Issue Date (the "Shelf Filing Deadline"), (y) use its best efforts to cause the Shelf Registration Statement to be declared effective by the Commission on or before the 90th day after the Shelf Filing Deadline, and (z) keep the Shelf Registration Statement continuously effective, supplemented and amended as required by the provisions of Sections 5(a) and (b) of the Shelf Registration Statement to the extent necessary to ensure that it is available for resales of Exchange Notes by the Holders of Transfer Restricted Securities and to ensure that it conforms with the requirements of the Registration Agreement, the Securities Act and certain other rules and regulations.  Because the Issue Date was December 12, 2001, the current Shelf Filing Deadline is March 12, 2001.  All events set forth in clauses (x) through (z) above are referred to herein as the "Alpharma Filing Requirements."  

Pursuant to Section 4 of the Registration Agreement if, (x) the Shelf Registration Statement is not filed with the Commission on or prior to the Shelf Filing Deadline, (y) the Shelf Registration Statement has not been declared effective by the Commission on or prior to the 90th day after the Shelf Filing Deadline, or (z) in certain circumstances, if the Shelf Registration Statement is filed and declared effective but shall thereafter cease to be effective or fails to be usable in connection with resales of Notes (each such event referred to in clauses (x) through (z), a "Registration Default"), then Alpharma shall pay to each Holder of Transfer Restricted Securities certain liquidated damages as set forth therein.

By signing below, you hereby (i) extend until April 1, 2002, the Shelf Filing Deadline and compliance by Alpharma with the Alpharma Filing Requirements, and (ii) waive (y) Alpharma's Registration Default resulting from Alpharma's failure to file a Shelf Registration Statement on or before March 12, 2002, and (z) the right of the undersigned to receive liquidated damages pursuant to Section 4 of the Registration Agreement in connection with any Registration Default for the period from March 12, 2002 through and including April 1, 2002.

Alpharma and the undersigned hereby agree that commencing upon April 1, 2002, the Alpharma Filing Requirements and the right of the undersigned to receive liquidated damages pursuant to Section 4 of the Registration Agreement shall be reinstated in accordance with the terms of the Registration Agreement.

This letter is subject to the provisions of Section 11(d) of the Registration Agreement.

The Registration Agreement and the Note Purchase Agreement, except to the extent of the consent specifically provided above, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  The execution, delivery and effectiveness of this letter shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of Banc of America Bridge or CIBC under the Registration Agreement or the Note Purchase Agreement, nor constitute a waiver of any other provision of the Registration Agreement or any provision of the Note Purchase Agreement.

This letter shall be governed by, and construed in accordance with, the laws of the State of New York.  This letter may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument.

* * * * *

IN WITNESS WHEREOF, the parties have executed this Letter of Waiver as of the date first written above.
ALPHARMA INC.

(on behalf of Operating and each of the Guarantors)

By: /s/ Robert F. Wrobel

Name:Robert F. Wrobel

Title:Executive Vice President

The foregoing Letter of Waiver and the Amendment to the Registration Agreement contemplated herein is hereby confirmed and accepted as of the date first above written.

BANC OF AMERICA BRIDGE LLC
By: ____________________________________

Name:

Title:

CIBC INC.

By: ____________________________________

Name:

Title:Exhibit A

SUBSIDIARY GUARANTY SUPPLEMENT

December 26, 2001

BANK OF AMERICA, N.A.,

as Administrative Agent for the

Lender Parties referred to in the

Credit Agreement referred to below

          Re:Credit Agreement dated as of October 5, 2001 among Alpharma Inc.,

the Borrowers listed therein, the Lender Parties party thereto, Bank of

America, N.A., as Collateral Agent and as Administrative Agent

Ladies and Gentlemen:

Reference is made to the above-captioned Credit Agreement and to the Subsidiary Guaranty referred to therein (such Subsidiary Guaranty, as in effect on the date hereof and as it may hereafter be amended, supplemented or otherwise modified from time to time, together with this Guaranty Supplement, being the "Subsidiary Guaranty").  The capitalized terms defined in the Subsidiary Guaranty or in the Credit Agreement and not otherwise defined herein are used herein as therein defined.

	Guaranty; Limitation of Liability.    The undersigned hereby absolutely, unconditionally and irrevocably guarantees the punctual payment when due, whether at scheduled maturity or on any date of a required prepayment or by acceleration, demand or otherwise, of all Obligations of each other Loan Party now or hereafter existing under or in respect of the Loan Documents (including, without limitation, any extensions, modifications, substitutions, amendments or renewals of any or all of the foregoing Obligations), whether direct or indirect, absolute or contingent, and whether for principal, interest, premium, fees, indemnities, contract causes of action, costs, expenses or otherwise (such Obligations being the "Guaranteed Obligations"), and agrees to pay any and all expenses (including, without limitation, fees and expenses of counsel) incurred by the Administrative Agent or any other Secured Party in enforcing any rights under this Guaranty Supplement, the Subsidiary Guaranty or any other Loan Document.  Without limiting the generality of the foregoing, the undersigned's liability shall extend to all amounts that constitute part of the Guaranteed Obligations and would be owed by any other Loan Party to any Secured Party under or in respect of the Loan Documents but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving such other Loan Party.

	The undersigned, and by its acceptance of this Guaranty Supplement, the Administrative Agent and each other Secured Party, hereby confirms that it is the intention of all such Persons that this Guaranty Supplement, the Subsidiary Guaranty and the Obligations of the undersigned hereunder and thereunder not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign, federal or state law to the extent applicable to this Guaranty Supplement, the Subsidiary Guaranty and the Obligations of the undersigned hereunder and thereunder.  To effectuate the foregoing intention, the Administrative Agent, the other Secured Parties and the undersigned hereby irrevocably agree that the Obligations of the undersigned under this Guaranty Supplement and the Subsidiary Guaranty at any time shall be limited to the maximum amount as will result in the Obligations of the undersigned under this Guaranty Supplement and the Subsidiary Guaranty not constituting a fraudulent transfer or conveyance.
	The undersigned hereby unconditionally and irrevocably agrees that in the event any payment shall be required to be made to any Secured Party under this Guaranty Supplement, the Subsidiary Guaranty, the Parent Guaranty or any other guaranty, the undersigned will contribute, to the maximum extent permitted by applicable law, such amounts to each other Guarantor and each other guarantor so as to maximize the aggregate amount paid to the Secured Parties under or in respect of the Loan Documents.

	Obligations Under the Guaranty.  The undersigned hereby agrees, as of the date first above written, to be bound as a Guarantor by all of the terms and conditions of the Subsidiary Guaranty to the same extent as each of the other Guarantors thereunder.  The undersigned further agrees, as of the date first above written, that each reference in the Subsidiary Guaranty to an "Additional Guarantor" or a "Guarantor" shall also mean and be a reference to the undersigned, and each reference in any other Loan Document to a "Subsidiary Guarantor" or a "Loan Party" shall also mean and be a reference to the undersigned.
	Representations and Warranties.  The undersigned hereby makes each representation and warranty set forth in Section 6 of the Subsidiary Guaranty to the same extent as each other Guarantor.
	Delivery by Telecopier.  Delivery of an executed counterpart of a signature page to this Guaranty Supplement by telecopier shall be effective as delivery of an original executed counterpart of this Guaranty Supplement.
	Governing Law; Jurisdiction; Waiver of Jury Trial, Etc.    This Guaranty Supplement shall be governed by, and construed in accordance with, the laws of the State of New York.

	The undersigned hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any New York State court or any federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Guaranty Supplement, the Subsidiary Guaranty or any of the other Loan Documents to which it is or is to be a party, or for recognition or enforcement of any judgment, and the undersigned hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in any such New York State court or, to the extent permitted by law, in such federal court.  The undersigned agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.  Nothing in this Guaranty Supplement or the Subsidiary Guaranty or any other Loan Document shall affect any right that any party may otherwise have to bring any action or proceeding relating to this Guaranty Supplement, the Subsidiary Guaranty or any of the other Loan Documents to which it is or is to be a party in the courts of any other jurisdiction.
	The undersigned irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Guaranty Supplement, the Subsidiary Guaranty or any of the other Loan Documents to which it is or is to be a party in any New York State or federal court.  The undersigned hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such suit, action or proceeding in any such court.
	THE UNDERSIGNED HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO ANY OF THE LOAN DOCUMENTS, THE ADVANCES OR THE ACTIONS OF ANY SECURED PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

Very truly yours,

US Oral Pharmaceuticals Pty Ltd

By

Robert F. Wrobel, Director

By

Jeffrey E. Smith, Director

 

Faulding Holdings Inc.

 

By

Robert F. Wrobel

Secretary

Faulding Pharmaceuticals Inc.

 

By

John LaRocca

Assistant Secretary

 

 

 

 

 

Point Holdings Inc.

By

John LaRocca

Assistant Secretary

 

Purepac Pharmaceutical Holdings Inc.

 

By

Robert F. Wrobel

Secretary

 

Faulding Laboratories Inc.

 

By

John LaRocca

Assistant Secretary

 

Purepac Pharmaceutical Co.

 

By

John LaRocca

Assistant Secretary

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