Exhibit 10.1

STRAIGHT NOTE

$300,000 South El Monte, California March 17, 2004

For value received, Lee Pharmaceuticals promises to pay Roberts Proprietaries Inc. or order, at South El Monte, California the sum of THREE HUNDRED THOUSAND DOLLARS, with interest from March 17, 2004, on unpaid principal at the rate of twenty (20) per cent annum; principal is payable monthly, commencing on April 1, 2004, with monthly principal payments of $5,000. Interest shall be calculated on the basis of the unpaid principal balance daily, based on a 365-day year, actual day month and payable monthly. Principal and interest shall be payable in lawful money of the United States. If action were instituted on this note, I promise to pay such sum as the Court may fix as attorney’s fees. This note is secured by the trademark on the product brand Zip®.

This promissory note replaces the $200,000 promissory note, dated July 1, 2002, which has been paid down to $100,000 as of March 1, 2004. All other terms and conditions (including the Security Agreement, Amendment No. 1 to 1988 Security Agreement, Guarantee of Ronald G. Lee and Exhibits) of the December 1, 1998, original $500,000 promissory note, remain in force except as stated in the above paragraph of this new promissory note, dated March 17, 2004.

MARCH 17, 2004	/s/ RONALD G. LEE
Date	Lee Pharmaceuticals - Ronald G. Lee
MARCH 17, 2004	/s/ MICHAEL L. AGRESTI
Date	Lee Pharmaceuticals – Michael L. Agresti