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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No.: 1
Name of Issuer: Allergan Specialty Therapeutics, Inc.
Title of Class of Securities: Class A Callable Common Stock, par
value $.01 per share
CUSIP Number: 018494104
(Name, Address and Telephone Number of Person
Authorized To Receive Notices and Communications)
Lourde John Constable, 5 Radnor Corp. Center, 100 Matsonford Rd.
Suite #520, Radnor, Pennsylvania 19087 (610) 964-0750
(Date of Event which Requires Filing of this Statement)
October 12, 1998
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of
Rule 13d-1(b)(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No.: 018494104
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Lourde John Constable, d/b/a Constable Asset Management
2. Check the Appropriate Box if a Member of a Group
a.
b. x
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
149,800
8. Shared Voting Power:
326,200
9. Sole Dispositive Power:
149,800
10. Shared Dispositive Power:
326,200
11. Aggregate Amount Beneficially Owned by Each Reporting Person
476,000
12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares
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13. Percent of Class Represented by Amount in Row (11)
14.5%
14. Type of Reporting Person
IN
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CUSIP No.: 018494104
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Constable Partners, L.P.
2. Check the Appropriate Box if a Member of a Group
a.
b. x
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
8. Shared Voting Power:
326,200
9. Sole Dispositive Power:
10. Shared Dispositive Power:
326,200
11. Aggregate Amount Beneficially Owned by Each Reporting Person
326,200
12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares
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13. Percent of Class Represented by Amount in Row (11)
9.97%
14. Type of Reporting Person
PN
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The purpose of this Amendment No. 1 to the previously filed
Schedule 13D is to report that the ownership of Lourde John
Constable and Constable Partners, L.P. (together, the "Reporting
Persons") in the Class A Callable Common Stock, $.01 par value
per share (the "Shares"), of Allergan Specialty Therapeutics,
Inc. (the "Issuer") has increased from 13.0% and 8.4%,
respectively, to 14.5% and 9.97%, respectively, of the Shares
outstanding.
Item 1. Security and Issuer
No change.
Item 2. Identity and Background
No change.
Item 3. Source and Amount of Funds or Other Consideration
As of the date hereof, Mr. Constable is deemed to
beneficially own 476,000 Shares, of which the
Partnership owns 326,200 Shares. The Shares deemed to
be beneficially owned by Mr. Constable that are not held
by the Partnership are held by either Constable Partners
II, L.P. or the Offshore Fund. The Shares of the Issuer
were purchased in open market transactions. The Shares
deemed to be beneficially owned by Mr. Constable were
purchased for an aggregate purchase price of $5,270,000,
of which amount $3,959,500 represents the aggregate
purchase price of the Shares owned by the Partnership.
The funds for the purchase of the Shares held in the
Partnership, Constable Partners II, L.P and the Offshore
Fund came from each of those entity's working capital.
No leverage was used to purchase any of the Shares.
Item 4. Purpose of Transactions
No change.
Item 5. Interest in Securities of Issuer
As of the date hereof, Mr. Constable is deemed to be the
beneficial owner of 476,000 Shares, of which the
Partnership is the owner of 326,200 Shares. Based on
the Issuer's most recent filing on Form 10-Q, as of
August 8, 1998 there were 3,272,690 Shares outstanding.
Therefore, Mr. Constable is deemed to beneficially own
14.5%, of which the Partnership owns 9.97%, of the
outstanding Shares. Mr. Constable has the sole or
shared power to vote, direct the vote, dispose of or
direct the disposition of all the Shares that he is
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deemed to beneficially own. The Partnership has the
shared power to vote, direct the vote, dispose of or
direct the disposition of all the Shares that it
beneficially owns. All transactions in the Shares
effected by the Reporting Persons during the sixty days
prior to October 12, 1998 through the date of this
filing were effected in open-market transactions and are
set forth in Exhibit B hereto.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
No change.
Item 7. Material to be Filed as Exhibits
1. An agreement relating to the filing of a joint
statement as required by Rule 13d-1(f) under
the Securities Exchange Act of 1934 is filed
herewith as Exhibit A.
2. A description of the transactions in the
Shares that were effected by the Reporting
Persons during the 60 days prior to
October 12, 1998 through the date of this
filing is filed herewith as Exhibit B.
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Signature
The undersigned, after reasonable inquiry and to
the best of their knowledge and belief, certify that the
information set forth in this statement is true, complete
and correct.
CONSTABLE PARTNERS, L.P.
By: /s/ Lourde John Constable
_____________________________
Lourde John Constable
General Partner
/s/ Lourde John Constable
_________________________________
Lourde John Constable
October 16, 1998
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02414001.AA7
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Exhibit A
AGREEMENT
The undersigned agree that this Schedule 13D dated
October 16, 1998 relating to the Common Stock of Allergan
Specialty Therapeutics, Inc. shall be filed on behalf of the
undersigned.
CONSTABLE PARTNERS, L.P.
By: /s/ Lourde John Constable
_____________________________
Lourde John Constable
General Partner
/s/ Lourde John Constable
_________________________________
Lourde John Constable
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02414001.AA7
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Exhibit B
SCHEDULE OF TRANSACTIONS
_________________________
CONSTABLE PARTNERS:
Date Shares Purchased or (Sold) Price Per Share
____ ________________________ _________________
10/12/98 50,000 $9.0625
02414001.AA7
