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  <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED
  STATES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES
  AND EXCHANGE COMMISSION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WASHINGTON,
  D.C. 20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
  REPORT</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant
  to Section&nbsp;13 OR 15(d)&nbsp;of The Securities Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report
  (Date of earliest event reported):&nbsp; <b>April&nbsp;30, 2008</b></font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Sepracor
  Inc.</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact Name of
  Registrant as Specified in its Charter)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
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    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">0-19410</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">22-2536587</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or Other
    Juris-<br>
    diction of Incorporation</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission<br>
    File Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer<br>
    Identification No.)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="66%" valign="top" style="padding:0in 0in 0in 0in;width:66.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">84
    Waterford Drive<br>
    Marlborough, MA</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="bottom" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">01752</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="66%" valign="top" style="padding:0in 0in 0in 0in;width:66.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of Principal
    Executive Offices)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s
  telephone number, including area code:&nbsp; <b>(508)
  481-6700</b></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former Name or
  Former Address, if Changed Since Last Report)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Check the appropriate box below if the Form&nbsp;8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any of the
  following provisions (see
  General Instruction A.2. below):</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  </font><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Written communications pursuant to Rule&nbsp;425 under the Securities Act (17
  CFR 230.425)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  </font><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR
  240.14a-12)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  </font><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the
  Exchange Act (17 CFR 240.14d-2(b))</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  </font><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the
  Exchange Act (17 CFR 240.13e-4(c))</font></p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\C900154\08-13159-3\task2907845\13159-3-ba.htm',USER='c900154',CD='May  1 06:05 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 1.01&#160; Entry into a Material Definitive Agreement.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On April&nbsp;30,
  2008, Sepracor Inc. (the &#147;Company&#148;) and one of its wholly-owned subsidiaries entered
  into a Share Purchase Agreement (the &#147;Purchase Agreement&#148;) with Cobalt
  Pharmaceuticals Inc., a corporation incorporated under the laws of the Province
  of Ontario (&#147;Cobalt&#148;), Melville Holdings Limited, a corporation incorporated
  under the laws of Malta (&#147;Melville&#148; and collectively with Cobalt, the &#147;Sellers&#148;),
  Oryx Pharmaceuticals,&nbsp;Inc., a corporation incorporated under the laws of
  the Province of Ontario (&#147;Oryx&#148;), and Arrow Group A.p.S., a corporation
  incorporated under the laws of Denmark, pursuant to which the Company, through
  its wholly-owned subsidiary, will purchase all of the issued and outstanding capital
  stock of Oryx from the Sellers and Oryx will become an indirect wholly-owned
  subsidiary of the Company.</font></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under the terms of the Purchase Agreement, the
  Sellers will receive an upfront payment of $50 million, subject to a
  post-closing working capital adjustment.&#160;
  </font><font size="2" style="font-size:10.0pt;">The Sellers
  are also entitled to receive milestone payments of up to an aggregate of </font><font size="2" style="font-size:10.0pt;">$20 million</font><font size="2" style="font-size:10.0pt;"> upon the accomplishment of various regulatory
  milestones.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Purchase Agreement
  contains customary representations, warranties and covenants of the parties. The
  Purchase Agreement also contains provisions for indemnification, subject to
  customary baskets and caps, and restricts the Sellers and certain of their
  affiliates from engaging in certain competitive activities, such as the
  manufacture, marketing, promotion, sale, or distribution of certain products in
  Canada.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with the Sellers&#146;
  indemnification obligations under the Purchase Agreement, at closing, the
  Sellers will place a two-year $7,500,000 irrevocable letter of credit in escrow.&#160; On or after the first anniversary of the closing
  date, the Sellers may reduce the face amount of the letter of credit to the
  greater of the aggregate amount of any indemnification claims outstanding or $3,750,000.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The transaction is
  expected to close on or about June&nbsp;1, 2008, subject to customary closing
  conditions. Each party&#146;s obligation to consummate the transactions contemplated
  by the Purchase Agreement is subject to the conditions that there be no order, judgment,
  injunction, decree, award or writ of any governmental authority or other person
  having jurisdiction that prohibits or restricts the closing of the transaction,
  that all required consents and approvals have been obtained, and that other
  standard conditions to each party&#146;s obligation to close have been met.&#160; The Purchase Agreement is also subject to
  customary termination provisions.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Report on Form&nbsp;8-K
  contains forward-looking statements that involve risks and uncertainties,
  including statements with respect to future milestone payments and the expected closing date of the Company&#146;s acquisition
  of Oryx.&#160; Among the factors that
  could cause actual results to differ materially from those indicated by such
  forward-looking statements are Oryx&#146;s ability to achieve certain regulatory
  milestones, the significant delays or the inability of either party to satisfy
  the conditions to closing under the Purchase Agreement; and certain other
  factors that may affect future results.&#160;
  Certain of these factors are detailed in the Company&#146;s annual report on Form&nbsp;10-K
  for the year ended December&nbsp;31, 2007 filed with the Securities and
  Exchange Commission.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, the statements
  in this Report on Form&nbsp;8-K represent the Company&#146;s expectations and
  beliefs as of the date of this Report. Subsequent events and developments may
  cause these expectations and beliefs to change. However, while the Company may
  elect to update these forward-looking statements at some point in the future,
  unless required by applicable law, it specifically disclaims any obligation to
  do so.&#160; These forward-looking statements
  should not be relied upon as representing the Company&#146;s expectations or beliefs
  as of any date subsequent to the date of this Report on Form&nbsp;8-K.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\C900154\08-13159-3\task2907845\13159-3-ba.htm',USER='c900154',CD='May  1 06:05 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.76%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.24%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sepracor Inc.</font></p>
    </td>
   </tr>
   <tr>
    <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.76%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.24%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.76%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: May&nbsp;1, 2008</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.4%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ Andrew I.
    Koven </font></p>
    </td>
   </tr>
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    <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.76%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Andrew I. Koven </font></p>
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Executive Vice President, General Counsel and
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    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate Secretary</font></p>
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-13159_38k.htm", "description": "8-K", "secsgml_size_bytes": 23812}]
metadata_filer: {"company-data": {"conformed-name": "SEPRACOR INC /DE/", "cik": "0000877357", "assigned-sic": "2834", "irs-number": "222536587", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-19410", "film-number": "08791960"}, "business-address": {"street1": "84 WATERFORD DRIVE", "city": "MARLBOROUGH", "state": "MA", "zip": "01757", "phone": "5084816700"}, "mail-address": {"street1": "84 WATERFORD DRIVE", "city": "MARLBOROUGH", "state": "MA", "zip": "01752"}}
text: 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):
  April 30, 2008
  Sepracor
  Inc.
  (Exact Name of
  Registrant as Specified in its Charter)
  Delaware
  0-19410
  22-2536587
  (State or Other
    Juris-
  diction of Incorporation
  (Commission
  File Number)
  (IRS Employer
  Identification No.)
  84
    Waterford Drive
  Marlborough, MA
  01752
  (Address of Principal
    Executive Offices)
  (Zip Code)
  Registrant's
  telephone number, including area code:
  (508)
  481-6700
  (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 (see
  General Instruction A.2. below):
  o
  Written communications pursuant to Rule 425 under the Securities Act (17
  CFR 230.425)
  o
  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
  240.14a-12)
  o
  Pre-commencement communications pursuant to Rule 14d-2(b) under the
  Exchange Act (17 CFR 240.14d-2(b))
  o
  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 April 30,
  2008, Sepracor Inc. (the "Company") and one of its wholly-owned subsidiaries entered
  into a Share Purchase Agreement (the "Purchase Agreement") with Cobalt
  Pharmaceuticals Inc., a corporation incorporated under the laws of the Province
  of Ontario ("Cobalt"), Melville Holdings Limited, a corporation incorporated
  under the laws of Malta ("Melville" and collectively with Cobalt, the "Sellers"),
  Oryx Pharmaceuticals, Inc., a corporation incorporated under the laws of
  the Province of Ontario ("Oryx"), and Arrow Group A.p.S., a corporation
  incorporated under the laws of Denmark, pursuant to which the Company, through
  its wholly-owned subsidiary, will purchase all of the issued and outstanding capital
  stock of Oryx from the Sellers and Oryx will become an indirect wholly-owned
  subsidiary of the Company.
  Under the terms of the Purchase Agreement, the
  Sellers will receive an upfront payment of $50 million, subject to a
  post-closing working capital adjustment.
  The Sellers
  are also entitled to receive milestone payments of up to an aggregate of
  $20 million
  upon the accomplishment of various regulatory
  milestones.
  The Purchase Agreement
  contains customary representations, warranties and covenants of the parties. The
  Purchase Agreement also contains provisions for indemnification, subject to
  customary baskets and caps, and restricts the Sellers and certain of their
  affiliates from engaging in certain competitive activities, such as the
  manufacture, marketing, promotion, sale, or distribution of certain products in
  Canada.
  In connection with the Sellers'
  indemnification obligations under the Purchase Agreement, at closing, the
  Sellers will place a two-year $7,500,000 irrevocable letter of credit in escrow.  On or after the first anniversary of the closing
  date, the Sellers may reduce the face amount of the letter of credit to the
  greater of the aggregate amount of any indemnification claims outstanding or $3,750,000.
  The transaction is
  expected to close on or about June 1, 2008, subject to customary closing
  conditions. Each party's obligation to consummate the transactions contemplated
  by the Purchase Agreement is subject to the conditions that there be no order, judgment,
  injunction, decree, award or writ of any governmental authority or other person
  having jurisdiction that prohibits or restricts the closing of the transaction,
  that all required consents and approvals have been obtained, and that other
  standard conditions to each party's obligation to close have been met.  The Purchase Agreement is also subject to
  customary termination provisions.
  This Report on Form 8-K
  contains forward-looking statements that involve risks and uncertainties,
  including statements with respect to future milestone payments and the expected closing date of the Company's acquisition
  of Oryx.  Among the factors that
  could cause actual results to differ materially from those indicated by such
  forward-looking statements are Oryx's ability to achieve certain regulatory
  milestones, the significant delays or the inability of either party to satisfy
  the conditions to closing under the Purchase Agreement; and certain other
  factors that may affect future results. 
  Certain of these factors are detailed in the Company's annual report on Form 10-K
  for the year ended December 31, 2007 filed with the Securities and
  Exchange Commission.
  In addition, the statements
  in this Report on Form 8-K represent the Company's expectations and
  beliefs as of the date of this Report. Subsequent events and developments may
  cause these expectations and beliefs to change. However, while the Company may
  elect to update these forward-looking statements at some point in the future,
  unless required by applicable law, it specifically disclaims any obligation to
  do so.  These forward-looking statements
  should not be relied upon as representing the Company's expectations or beliefs
  as of any date subsequent to the date of this Report on Form 8-K.
  2
  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.
  Sepracor Inc.
  Date: May 1, 2008
  By:
  /s/ Andrew I.
    Koven
  Name: Andrew I. Koven
  Title: Executive Vice President, General Counsel and
  Corporate Secretary
  3