<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
AMYLIN PHARMACEUTICALS, INC.
----------------------------
(Name of Issuer)
COMMON STOCK, $.001 par value
------------------------------
(Title of Class of Securities)
032346108
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(CUSIP Number)
Blair M. Flicker, Esq.
Johnson & Johnson
One Johnson & Johnson Plaza
New Brunswick, NJ 08933
(908) 524-2527
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
November 6, 1996
------------------
(Date of Event which Requires Filing of this Statement)
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 / /.
Check the following box if a fee is being paid with the statement / /. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
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
disclosures provided in a prior cover page.
The information required on 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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<TABLE>
SCHEDULE 13D
CUSIP NO. 032346108 PAGE 2 OF 10 PAGES
--------- ----- ----
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<S> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Johnson & Johnson 22-1024240
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) / /
(B) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
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7 SOLE VOTING POWER
-0-
NUMBER OF ------------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH 3,455,407
REPORTING ------------------------------------------------------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0-
------------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,455,407
- ------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,455,407
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- ------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.99%
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14 TYPE OF REPORTING PERSON*
CO
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 3
<TABLE>
SCHEDULE 13D
CUSIP NO. 032346108 PAGE 3 OF 10 PAGES
--------- ----- ----
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<S> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Johnson & Johnson Development Corporation 22-2007317
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) / /
(B) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
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7 SOLE VOTING POWER
-0-
NUMBER OF ------------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH 3,455,407
REPORTING ------------------------------------------------------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0-
------------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,455,407
- ------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,455,407
- ------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- ------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.99%
- ------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
Page 4 of 10 pages
Items 3, 4 and 5 of the Statement on Schedule 13D filed pursuant to Rule
13d-1 of the Rules and Regulations under the Securities Exchange Act of 1934,
as amended, by Johnson & Johnson, a New Jersey corporation ("J&J"), and Johnson
& Johnson Development Corporation, a New Jersey corporation ("JJDC"), relating
to the shares of Common Stock, $.001 par value (the "Common Stock") of Amylin
Pharmaceuticals, Inc., are hereby amended as follows:
<PAGE> 5
Page 5 of 10 pages
Item 3. Source and Amount of Funds or Other Consideration:
Item 3 is hereby amended and restated as follows:
On June 20, 1995, JJDC purchased from Amylin Pharmaceuticals, Inc., a
Delaware Corporation (the "Company") 724,638 shares of Common Stock of
the Company (the "Common Stock") for $5.0 million. On September 27,
1995, JJDC purchased from the Company 1,169,230 shares of Common Stock
for $9.5 million. On October 17, 1995, JJDC purchased from the Company
61,539 shares of Common Stock for $0.5 million. On November 6, 1996,
JJDC purchased from the Company 1,500,000 shares of Common Stock for
$15,000,000. No funds were borrowed to finance the purchases.
Item 4. Purpose of Transaction:
Item 4 is hereby amended and restated as follows:
On June 20, 1995, the Company and Lifescan, Inc., a wholly-owned
subsidiary of J&J, entered into a Collaboration Agreement to develop
and commercialize the Company's lead drug candidate, pramlintide (the
"Collaboration"). In conjunction with the Collaboration Agreement, the
Company also entered into a Stock Purchase Agreement with JJDC and a
Loan and Security Agreement with J&J. In accordance with the terms of
the Stock Purchase Agreement, JJDC purchased 724,638 shares of Common
Stock for $5.0 million.
Subject to the terms of the Stock Purchase Agreement, the Company has
the right to sell additional shares of Common Stock to JJDC (some of
which shares have previously been sold to JJDC, as described in Item 3
above), including shares in an aggregate amount of $15.0 million
subsequent to the achievement of the first milestone of the
Collaboration. In connection with the achievement of such milestone,
on November 6, 1996, JJDC purchased 1,500,000 shares of Common Stock
from the Company for $15 million. Upon the achievement of certain
additional milestones, the Company also has the right to sell
additional shares of its Common Stock to JJDC for net proceeds of up
to $15 million.
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Page 6 of 10 pages
Pursuant to the terms of the Loan and Security Agreement, the Company
has agreed to issue to J&J warrants (the "Warrants") to purchase 50,000
shares of Common Stock, at an exercise price of $12.00 per share and
with a ten-year exercise period, for each $1.0 million principal amount
of each Development Loan (as defined in the Loan and Security
Agreement) loaned to the Company thereunder. As of November 6, 1996,
no Development Loans had been made under the Loan and Security
Agreement.
Pursuant to the terms of the Stock Purchase Agreement, JJDC has agreed
that, until June 2005, or sooner in the event that the Collaboration
Agreement is terminated, it will not acquire any additional securities
of the Company other than pursuant to the Stock Purchase Agreement or
upon exercise of the Warrants. Such restriction shall terminate upon
the occurrence of a change in control of the Company or certain other
events, as described more fully in the Stock Purchase Agreement. JJDC
has also agreed not to sell, transfer or dispose of any shares of
Common Stock for certain time periods, as set forth more fully in the
Stock Purchase Agreement.
Item 5. Interest in Securities of the Issuer:
Item 5 is hereby amended and restated as follows:
As of November 6, 1996, J&J and JJDC each had beneficial ownership of
an aggregate of 3,455,407 shares of Common Stock. Based upon the
shares of Common Stock outstanding as of June 30, 1996, as reported
in the Company's Report on Form 10-Q for the quarter ended June 30,
1996, and the shares of Common Stock offered pursuant to the
Company's Prospectus dated November 1, 1996, 3,455,407 shares
constitute approximately 10.99% of the outstanding shares of Common
Stock.
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Page 7 of 10 pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
JOHNSON & JOHNSON
By: /s/ P.S. Galloway
-------------------
P.S. Galloway
Secretary
Date: November 13, 1996
JOHNSON & JOHNSON
DEVELOPMENT CORPORATION
By: /s/ B. Flicker
-------------------
B. Flicker
Secretary
Date: November 13, 1996
<PAGE> 8
CUSIP 53218710 Page 8 of 10 Pages
APPENDIX A
Board of Directors and Executive Officers of
Johnson & Johnson
The directors and executive officers of Johnson & Johnson are
identified in the table below. Directors of Johnson & Johnson are indicated by
an asterisk.
<TABLE>
<CAPTION>
NAME BUSINESS ADDRESS CITIZENSHIP PRINCIPAL OCCUPATION
---- ---------------- ----------- --------------------
<S> <C> <C> <C>
1 . Professor Sir James Black(*) The James Black Foundation United Kingdom Professor and Head of the
68 Half Moon Lane Department of Analytical
Dulwich, London SE249JE Pharmacology at the Rayne
England Institute, King's College School
of Medicine, Chairman of the
James Black Foundation
2. Dr. Gerard N. Burrow(*) Yale New Haven School of United States Dean of the Yale University
Medicine School of Medicine since 1992
333 Cedar Street
New Haven, CT 06510
3. Joan Ganz Cooney(*) Children's Television Workshop United States Chairman, Children's Television
One Lincoln Plaza Workshop
New York, NY 10023
4. James G. Cullen(*) BellAtlantic Corporation United States Vice Chairman
1310 North Court House Road Bell Atlantic Corporation
Arlington, VA 22201
5. Russell C. Deyo Johnson & Johnson United States Vice President, Administration, and
One Johnson & Johnson Plaza Member, Executive Committee of
New Brunswick, NJ 08933 Johnson & Johnson
6. Roger S. Fine Johnson & Johnson United States Vice President and General Counsel,
One Johnson & Johnson Plaza and Member, Executive Committee of
New Brunswick, NJ 08933 Johnson & Johnson
7. George S. Frazza Johnson & Johnson United States Member, Executive Committee of
One Johnson & Johnson Plaza Johnson & Johnson
New Brunswick, NJ 08933
8. Ronald G. Gelbman Johnson & Johnson United States Member, Executive Committee of
One Johnson & Johnson Plaza Johnson & Johnson
New Brunswick, NJ 08933
9. Philip M. Hawley(*) Philip M. Hawley United States Former Chairman and Chief
Suite 2280 Executive Officer of Carter
444 South Flower Street Hawley Hale Stores, Inc.
Los Angeles, CA 90071-2900
10. Clark H. Johnson(*) Johnson & Johnson United States Member, Executive Committee and
One Johnson & Johnson Plaza Vice President, Finance of
New Brunswick, NJ 08933 Johnson & Johnson
11. Ann Dibble Jordan(*) Johnson & Johnson United States Director of various other
One Johnson & Johnson Plaza corporations
New Brunswick, NJ 08933
12. Christian A. Koffmann Johnson & Johnson France Member, Executive Committee of
One Johnson & Johnson Plaza Johnson & Johnson
New Brunswick, NJ 08933
13. Arnold G. Langbo(*) 111 Capital Avenue, S.W. Canada Chairman of the Board and Chief
Battle Creek, MI 49015 Executive Officer of the Kellogg
Company
</TABLE>
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CUSIP 53218710 Page 9 of 10 Pages
<TABLE>
<CAPTION>
NAME BUSINESS ADDRESS CITIZENSHIP PRINCIPAL OCCUPATION
---- ---------------- ----------- --------------------
<S> <C> <C> <C>
14. Ralph S. Larsen(*) Johnson & Johnson United States Chairman, Board of Directors,
One Johnson & Johnson Plaza Chief Executive Officer and
New Brunswick, NJ 08933 Chairman, Executive Committee, of
Johnson & Johnson
15. James T. Lenehan Johnson & Johnson United States Member, Executive Committee of
One Johnson & Johnson Plaza Johnson & Johnson
New Brunswick, NJ 08933
16. Dr. John S. Mayo(*) AT&T Bell Laboratories, Inc. United States President, Emeritus, AT&T Bell
600 Mountain Avenue Laboratories, Inc.
Murray Hill, NJ 07974
17. Thomas S. Murphy(*) Capital Cities/ABC, Inc. United States Chairman of the Board and Chief
77 West 66th Street Executive Officer of Capital
New York, NY 10023-6298 Cities/ABC
18. Paul J. Rizzo (*) IBM Corporation United States Retired Vice Chairman of
Old Orchard Road International Business Machines
Armonk, NY 10504 Corporation
19. Maxine F. Singer, Ph.D.(*) Carnegie Institution of United States President of the Carnegie
Washington Institution of Washington
1530 P Street, N.W.
Washington, D.C. 20005-1910
20. Roger B. Smith (*) United States Retired Chairman of General
Johnson & Johnson Motors Corporation, Member of the
One Johnson & Johnson Plaza Business Council and Trustee of
New Brunswick NJ 08933 the Alfred P. Sloan Foundation
21. Robert N. Wilson(*) Johnson & Johnson United States Vice Chairman, Board of Directors
One Johnson & Johnson Plaza and Vice Chairman, Executive
New Brunswick, NJ 08933 Committee of Johnson & Johnson
</TABLE>
<PAGE> 10
CUSIP 53218710 Page 10 of 10 Pages
BOARD OF DIRECTORS AND EXECUTIVE OFFICERS OF
JOHNSON & JOHNSON DEVELOPMENT CORPORATION
The directors and executive officers of Johnson & Johnson
Development Corporation are identified in the table below. Directors of Johnson
& Johnson Development Corporation are indicated by an asterisk.
<TABLE>
<CAPTION>
NAME BUSINESS ADDRESS CITIZENSHIP PRINCIPAL OCCUPATION
---- ---------------- ----------- --------------------
<S> <C> <C> <C>
1. William L. Brower, Jr.(*) McNeil Consumer Products United States Vice President Finance,
Company McNeil Consumer Products
Camp Hill Road Company
Fort Washington, PA 19034
2. Robert Croce(*) Johnson & Johnson United States Company Group Chariman,
One Johnson & Johnson Plaza Johnson & Johnson
New Brunswick, NJ 08933
3. Blair M. Flicker(*) Johnson & Johnson United States Director and Secretary of
One Johnson & Johnson Plaza Johnson & Johnson Development
New Brunswick, NJ 08933 Corporation
4. Peter S. Galloway Johnson & Johnson United States Vice President of Johnson & Johnson
One Johnson & Johnson Plaza Development Corporation
New Brunswick, NJ 08933 Secretary and Associate
General Counsel of Johnson & Johnson
5. Dr. Robert Gussin(*) Johnson & Johnson United States Vice President, Science and
One Johnson & Johnson Plaza Technology of Johnson &
New Brunswick, NJ 08933 Johnson
6. Susan Lambert(*) Johnson & Johnson United Vice President of
One Johnson & Johnson Plaza Kingdom Johnson & Johnson Development
New Brunswick, NJ 08933 Corporation
7. Alfred T. Mays(*) Johnson & Johnson United States Vice President of
One Johnson & Johnson Plaza Johnson & Johnson Development
New Brunswick, NJ 08933 Corporation
9. Ting Pau Oei(*) Johnson & Johnson United States Vice President of
One Johnson & Johnson Plaza Johnson & Johnson Development
New Brunswick, NJ 08933 Corporation
10. Peter T. Tattle(*) Johnson & Johnson Canada Company Group Chairman,
One Johnson & Johnson Plaza Johnson & Johnson
New Brunswick, NJ 08933
11. James R. Utaski(*) Johnson & Johnson United States Vice President,
One Johnson & Johnson Plaza Business Development of
New Brunswick, NJ 08933 Johnson & Johnson; President
of Johnson & Johnson
Development Corporation
12. Dr. Brad Vale(*) Johnson & Johnson United States Vice President of
One Johnson & Johnson Plaza Johnson & Johnson Development
New Brunswick, NJ 08933 Corporation
</TABLE>
