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): April 7, 1997
Golden Pharmaceuticals, Inc.
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(Exact name of registrant as specified in its charter)
Colorado 0-9065 84-0645174
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
710 Fourteenth Street
Golden, Colorado 80401
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 279-9375
Not Applicable
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(Former name or former address, if changed since last report)
Item 2. Acquisition or Disposition of Assets.
(a) On April 7, 1997, Golden Pharmaceuticals, Inc. (the
"Registrant") completed the sale of the assets related to its
business of manufacturing and distributing Iodine-123 capsules
for a total purchase price of $6,700,000 pursuant to the terms
of an Asset Purchase Agreement (the "Agreement") dated April
7, 1997 by and between the Registrant and Syncor
Pharmaceuticals, Inc.
Included in the sale was the New Drug Application for the
Iodine-123 capsules, the building that contains the
manufacturing facility for the Iodine-123 capsules and all of
the equipment related to the Iodine-123 business.
The proceeds from the sale will be used to pay down the
Registrant's existing bank debt and to allow the Company to
expand its operations and presence in other sectors of the
health care market.
The consideration received pursuant to the Agreement was
determined through arm's length negotiations.
(b) Not applicable.
Item 7. Financial Statements and Exhibits.
(a) Not applicable.
(b) Pro Forma Financial Information
a. Unaudited Pro Forma Condensed Balance Sheet as of February
28, 1997
b. Unaudited Pro forma Condensed Statement of Operations for
the six months ended February 28, 1997
c. Unaudited Pro Forma Condensed Statement of Operations for
the year ended August 31, 1996
(c) Exhibits
10 Asset Purchase Agreement dated April 7 , 1997 by and
between Golden Pharmaceuticals, Inc. and Syncor Pharma-
ceuticals, Inc.
20 Press Release dated April 11, 1997
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 thereunto duly authorized.
GOLDEN PHARMACEUTICALS, INC.
Date: April 22, 1997 By: /s/ Glen H. Weaver
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Glen H. Weaver, Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Exhibit Description
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10 Asset Purchase Agreement dated April 7, 1997 by and between Golden
Pharmaceuticals, Inc. and Syncor Pharmaceuticals, Inc.
20 Press Release dated April 11, 1997