Maximizing the growth potential of our marketed drugs, Zevalin and Fusilev. Our near-term outlook largely depends on sales and marketing successes for our two marketed drugs. For Zevalin, we stabilized sales in 2009, increased sales in 2010 and believe we can continue to grow sales in 2011 and beyond. For Fusilev, which we launched in August 2008, we were able to benefit from broad utilization in community clinics and hospitals and recognized a dramatic increase in sales during 2010 due to a shortage of generic leucovorin. While we cannot predict how long the shortage may continue, our focus now is to obtain approval for Fusilev in advanced metastatic colorectal cancer. As part of its review of our supplemental new drug application (sNDA) for metastatic colorectal cancer, the FDA requested additional data to which we submitted a response on October 29, 2010. The FDA formally accepted the submission and established a decision date (PDUFA) of April 29, 2011

EX-10.18 5 a58896exv10w18.htm EX-10.18 exv10w18
Exhibit 10.18
AMENDMENT NO. 1
TO
CONSULTING AGREEMENT
     This Amendment No. 1 to the Consulting Agreement dated July 1, 2008 (“Agreement”), is hereby entered into and effective as of March 16, 2010 (“Amendment No. 1 Effective Date”), by and between Spectrum Pharmaceuticals, Inc., a Delaware corporation, with an office located at 157 Technology Drive, Irvine, California 92618 (“Spectrum”), and Luigi Lenaz, M.D., located at 11 Planetree Court, PA 18940 (“Consultant”). Capitalized terms not defined herein shall have the meaning set forth in the Agreement.
     The parties agree that an amendment needs to be made to the Agreement.
     The parties agree to enter into this Amendment No. 1 to amend the Agreement, as set forth below:
  1.   Section 1, shall be replaced, in its entirety, as follows:
 
      Consulting Services. The Consultant agrees to perform consulting and advisory services as may be requested by Spectrum, related to Spectrum’s products, and as Spectrum and the Consultant shall agree from time to time. The Consultant shall render such services either in person (at Spectrum or at such other location as is reasonably acceptable to Spectrum and the Consultant) or by telephone, as Spectrum may reasonably request.
 
  2.   Section 2, shall be modified, as follows:
  •   Spectrum will pay Consultant a retainer of $33,333 per month from this Amendment No. 1 Effective Date through June 18, 2010.
 
  •   For services rendered on or after June 18, 2010, Consultant will revert to a payment rate of $400 per hour.
 
  •   Spectrum will also reimburse Consultant for all travel (Business Class for flights 3 or more hours in duration) and other out of pocket expenses reasonably incurred by Consultant in connection with his consultation services, so long as, in the case of a travel assignment, the assignment is undertaken at the Spectrum’s request or otherwise preapproved by Spectrum in advance. Consultant’s travel time during any travel assignment hereunder, including visits to Spectrum’s office, will be deemed to be time incurred in the performance of services hereunder. Appropriate documentation should be forwarded to Spectrum showing expenses, substantially in accordance with Spectrum documentation requirements applicable to its employees in the ordinary course.
     All other provisions of the Agreement remain in full force and effect.
Agreed and Accepted as of the Amendment No. 1 Effective Date.
             
Spectrum Pharmaceuticals, Inc.   Luigi Lenaz, M.D.
 
            
By:
  /s/ Shyam Kumaria   By:   /s/ Luigi Lenaz, M.D.
 
           
 
  Shyam Kumaria       Signature
 
  V.P., Finance