UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Consent Statement Pursuant to Section 14(a) of the Securities and Exchange Act of 1934 (Amendment No. ) Filed by the Registrant [ ] Filed by a Party other than the Registrant [X] Check the appropriate box: [ ] Preliminary Proxy Statement [ ] Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) [ ] Definitive Proxy Statement [X] Definitive Additional Materials [ ] Soliciting Material Pursuant to sec. 240.14a-12 NEOPHARM, INC. (Name of Registrant as Specified in its Charter) JOHN N. KAPOOR, Ph.D. (Name of Person(s) Filing Consent Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): [X] No fee required. [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(l) and 0-11 (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: [ ] Fee paid previously with preliminary materials. [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: John N. Kapoor, Ph.D. 225 Deerpath Road, Suite 250 Lake Forest, Illinois 60045 October 8, 2004 Dear Fellow NeoPharm Stockholder: There have been a lot of allegations, misinformation and spin about why I commenced this consent solicitation. YOUR COMPANY NEEDS A BOARD THAT WILL ACT NOW TO PROTECT YOUR INVESTMENT The Other Incumbent Directors have claimed that I am engaging in this consent solicitation because I was replaced as Chairman. That is absolutely false and merely a smokescreen to obscure the fact that after several years on the board, they still fail to understand NeoPharm's business and have NO PLAN to restore stockholder value. I engaged in this consent solicitation in order to push for reform and to preserve and enhance stockholder value in your Company. The combination of a collapsing stock price and a DO NOTHING board that repeatedly refused to even discuss my proposals to eliminate wasteful expenditures convinced me that I had to take action. Now, someone must work actively with and challenge management and implement the changes that the Other Incumbent Directors are unable or unwilling to address. I believe that I am the best person to fill that role, at least in the short term. Therefore, if I am successful in this consent solicitation, I intend to request the new board to elect me Chairman. You should also know that: o I will gladly step down as Chairman at the 2005 annual meeting, or even earlier, if the board decides that a new Chairman is in the best interests of the Company. o I believe that at the 2005 annual meeting, or even earlier, the board should be expanded and additional highly qualified, independent directors with experience in the biopharmaceutical industry should be appointed to the board. o If I am elected Chairman, I will certainly refuse to accept the extravagant $120,000 annual payment that Erick E. Hanson receives as non-executive Chairman, or any other payment, for holding that position. In my May 4, 2004 memorandum to Mr. Hanson, in which I outlined a roadmap to cut the burn rate, I emphasized how I will work with management to implement the reforms that your Company so desperately needs. My consent solicitation does not anticipate any changes in management. Greg Young will continue as a board member and as CEO and the new active board will work with his management team to implement the necessary changes without any disruptions. My reasons for engaging in this consent solicitation are simple: to protect your Company, and to preserve and enhance stockholder value for all stockholders. GIVE YOUR CONSENT TODAY FOR AN ACTIVE, INDEPENDENT BOARD THAT WILL BE ACCOUNTABLE TO NEOPHARM STOCKHOLDERS Thank you for your support. /s/ John N. Kapoor, Ph.D. John N. Kapoor, Ph.D. Please SIGN, DATE and RETURN the enclosed WHITE consent card today. IMPORTANT NOTE: If your shares are held in the name of a bank, broker or other nominee, then only it can execute a consent on your behalf and only upon receipt of your specific instructions. Accordingly, it is critical that you promptly contact the person responsible for your account and give instructions for a WHITE consent card representing your shares to be signed, dated and returned as soon as possible. If you have any questions, or need assistance in voting your shares, please call: Innisfree M&A Incorporated Toll-free at 1-888-750-5834