324 S. Hyde Park Avenue Suite 350 Tampa, FL 33606 PH: (813) 864-2554 FAX: (813) 258-6912
EXHIBIT 10.161
December 15, 2006
Pharmaco Investments, Inc.
Pharmaceutical Product Development, Inc.
3151 S. 17th Street
Wilmington NC 28412
Attn: Fred Eshelman, CEO
Sent via Electronic Mail and Federal Express
| Re: | Amendment No. 1 to the First Amended and Restated Royalty Stream Purchase Agreement; Notice of Exercise of Option to Terminate Services |
Dear Mr. Eshelman:
Pursuant to paragraph 5 of Amendment No. 1 to the First Amended and Restated Royalty Stream Purchase Agreement dated as of September 26, 2006 (the “Amendment”), notice is hereby given that Accentia Biopharmaceuticals, Inc. elects to exercise its option to terminate the services of Pharmaco Investments, Inc. (“PPD”) and Pharmaceutical Products Development, Inc. (“PPDI”), effective as of the close of business on December 28, 2006 (the “Termination Date”).
Please forward your invoice for the Fully-Loaded Cost incurred by PPD through the Termination Date, as defined in the Amendment. As provided by the terms of the Amendment, upon payment of that invoice the amount of the Royalty Stream as defined in the applicable agreements shall be reduced to seven percent (7%).
If you should have any questions with regard to this matter, please don’t hesitate to contact me.
Very truly yours,
/s/ Frank O’Donnell
Frank O’Donnell, M.D.
Chairman & CEO
| Cc: | Sam Duffey, Esq. Alan Pearce |
324 S. Hyde Park Avenue
Suite 350
Tampa, FL 33606
PH: (813) ###-###-#### FAX: (813) ###-###-####
