Summary by Moomoo AI
On August 7, 2024, Ardelyx, Inc., a biopharmaceutical company, announced the entry into a Commercial Supply Agreement with Catalent Pharma Solutions, LLC. The agreement, effective as of July 23, 2024, stipulates that Catalent will handle the tableting, testing, release, and bulk packaging of Ardelyx's product, IBSRELA. Ardelyx has committed to purchasing a minimum number of batches of the product annually, with prices subject to annual adjustments based on the producer price index starting January 1, 2025. The agreement also includes maintenance fees and other expenses. The initial term is set to continue until December 31, 2028, with automatic two-year renewals unless terminated by either party. Termination clauses include provisions for material breach and other specified circumstances. The full terms of the Supply Agreement have been filed with the SEC and are incorporated into the Current Report on Form 8-K as Exhibit 10.1.
