Benzinga | Dec 22, 2021 04:11PM EST

Travere Therapeutics 8-K Shows Co. Commercial Supply Deal With Catalent Pharma Solutions For Services Related To Processing, Packaging Of Sparsentan Tablets, No Terms Disclosed

On December 21, 2021, Travere Therapeutics, Inc. (the "Company") entered into a Commercial Supply Agreement (the "Supply Agreement") with Catalent Pharma Solutions, LLC ("Catalent"), with an effective date of December 16, 2021, pursuant to which Catalent has agreed to provide certain services to the Company in connection with the processing and packaging of sparsentan tablets ("Finished Tablets") and primary packaging ("Bottles"), intended for future commercial sale, if approved.



Pursuant to the Supply Agreement, Catalent has agreed to supply the Company with, and the Company has agreed to purchase from Catalent, Finished Tablets and Bottles at an agreed upon price per unit. The price per unit may be adjusted annually based on increases in costs incurred by Catalent. The Supply Agreement requires the Company to purchase a minimum number of batches of Finished Tablets and Bottles from Catalent on an annual basis, which minimum amounts vary by year.



Unless terminated earlier, the term of the Supply Agreement continues until December 31 of the year that is five full calendar years after the date on which a regulatory authority first approves Catalent as a manufacturer of sparsentan drug product (the "Initial Term"). After the Initial Term, the Supply Agreement will extend automatically for additional two-year periods unless terminated by either party upon at least 18 months prior written notice. The Company may terminate the Supply Agreement immediately if the Company does not obtain regulatory approval of sparsentan, and for any reason upon 18 months' prior written notice subsequent to the Initial Term. The Supply Agreement may also be terminated at any time upon written notice by either party if the other party has failed to remedy a material breach of the terms of the Supply Agreement within a specified period following receipt of written notice of such breach.