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Martek Biosciences 8-K 2010

Documents found in this filing:

  1. 8-K
  2. 8-K
Martek Biosciences Corporation (Form: 8-K)  

 


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   December 16, 2010

Martek Biosciences Corporation
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 0-22354 52-1399362
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
6480 Dobbin Road, Columbia, Maryland   21045
_________________________________
(Address of principal executive offices)
  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   410-740-0081

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 1.01 Entry into a Material Definitive Agreement.


On December 16, 2010, Martek Biosciences Corporation ("Martek") entered into an amendment (the "Amendment") to its Supply Agreement effective January 1, 2007 (the "Supply Agreement") with Abbott Nutrition ("Abbott").

Prior to the Amendment, the Supply Agreement provided Abbott with a right of early termination beginning January 1, 2012. The Amendment eliminates this early termination provision and as a result, Martek will continue as the global sole-source supplier of DHA (docosahexaenoic acid) and ARA (arachidonic acid) for all Abbott infant formula products through December 31, 2016. The Amendment grants Abbott certain limited termination rights as well as the option to extend the Supply Agreement for two additional one year periods, which could extend the term of the Supply Agreement through December 31, 2018. Under the terms of Amendment, Martek will provide Abbott with certain graduated price reductions over the remaining term of the Supply Agreement.






SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    Martek Biosciences Corporation
          
December 17, 2010   By:   /s/ Peter L. Buzy
       
        Name: Peter L. Buzy
        Title: Chief Financial Officer, Treasurer and Executive Vice President for Finance and Administration
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