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SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameSCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 002

SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • ESOP other than a leveraged ESOP - A completed Schedule E must be attached to a Form 5500 filed for an Employee Stock Ownership Plan (ESOP).
  • Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

401k Sponsoring company profile

SCIELE PHARMA, INC. has sponsored the creation of one or more 401k plans.

Company Name:SCIELE PHARMA, INC.
Employer identification number (EIN):582004779
NAIC Classification:424210
NAIC Description:Drugs and Druggists' Sundries Merchant Wholesalers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022009-01-01MICHAEL MILLIGAN
0022009-01-01MICHAEL MILLIGAN

Plan Statistics for SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN

401k plan membership statisitcs for SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2009: SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-011,006
Total number of active participants reported on line 7a of the Form 55002009-01-010
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-010
Total of all active and inactive participants2009-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-010
Number of participants with account balances2009-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2009 : SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-10-31$0
2008 : SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2008 401k financial data
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2008-12-31$40,856
Total income from all sources (including contributions)2008-12-31$2,441,652
Total loss/gain on sale of assets2008-12-31$2,369,117
Total of all expenses incurred2008-12-31$836,609
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2008-12-31$817,256
Value of total assets at end of year2008-12-31$6,742,059
Value of total assets at beginning of year2008-12-31$5,177,872
Total of administrative expenses incurred including professional, contract, advisory and management fees2008-12-31$19,353
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2008-12-31No
Was this plan covered by a fidelity bond2008-12-31Yes
Value of fidelity bond cover2008-12-31$500,000
If this is an individual account plan, was there a blackout period2008-12-31No
Were there any nonexempt tranactions with any party-in-interest2008-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2008-12-31$9,584
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2008-12-31$51
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2008-12-31$1,725
Administrative expenses (other) incurred2008-12-31$19,353
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2008-12-31No
Value of net income/loss2008-12-31$1,605,043
Value of net assets at end of year (total assets less liabilities)2008-12-31$6,742,059
Value of net assets at beginning of year (total assets less liabilities)2008-12-31$5,137,016
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2008-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2008-12-31No
Were any leases to which the plan was party in default or uncollectible2008-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2008-12-31$6,732,475
Net investment gain/loss from registered investment companies (e.g. mutual funds)2008-12-31$72,535
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2008-12-31Yes
Was there a failure to transmit to the plan any participant contributions2008-12-31No
Has the plan failed to provide any benefit when due under the plan2008-12-31No
Assets. Invements in employer securities at beginning of year2008-12-31$4,398,795
Employer contributions (assets) at beginning of year2008-12-31$779,026
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2008-12-31$817,256
Liabilities. Value of benefit claims payable at beginning of year2008-12-31$39,131
Did the plan have assets held for investment2008-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2008-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2008-12-31No
Aggregate proceeds on sale of assets2008-12-31$7,534,041
Aggregate carrying amount (costs) on sale of assets2008-12-31$5,164,924
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2008-12-31Yes
Opinion of an independent qualified public accountant for this plan2008-12-31Disclaimer
Accountancy firm name2008-12-31FRAZIER & DEETER, LLC
Accountancy firm EIN2008-12-31581433845

Form 5500 Responses for SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN

2009: SCIELE PHARMA, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedYes
2009-01-01This submission is the final filingYes
2009-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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