PHARMACIA CORP /DE/
SC 13G/A, 2000-06-21
CHEMICALS & ALLIED PRODUCTS
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                 SCHEDULE 13G/A
                    Under the Securities Exchange Act of 1934

                               (Amendment No. 2)*


                           InSite Vision Incorporated
--------------------------------------------------------------------------------
                                (Name of Issuer)


                     Common Stock, Par Value $0.01 Per Share
--------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   457660 10 8
                         -------------------------------
                                 (CUSIP Number)


                                January 18, 2000
                        --------------------------------
              Date of Event Which Requires Filing of this Statement


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

       [ ] Rule 13d-1(b)

       [x] Rule 13d-1(c)

       [ ] Rule 13d-1(d)

*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).

POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
VALID OMB CONTROL NUMBER.

<PAGE>


                                SCHEDULE 13G/A

-------------------------                             -------------------------
CUSIP No. 457660 10 8                                 Page   2   of  7   Pages
-------------------------                             -------------------------

-------------------------------------------------------------------------------
 1     NAME OF REPORTING PERSONS.
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
       ONLY).

       Pharmacia & Upjohn AB

-------------------------------------------------------------------------------
 2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                                       (A)  [ ]
                                                                       (B)  [ ]
-------------------------------------------------------------------------------
 3     SEC USE ONLY


-------------------------------------------------------------------------------
 4     CITIZENSHIP OR PLACE OF ORGANIZATION

       Sweden
-------------------------------------------------------------------------------
    NUMBER OF                 5      SOLE VOTING POWER
    SHARES
    BENEFICIALLY                     2,665,614
    OWNED BY            -------------------------------------------------------
    EACH                      6      SHARED VOTING POWER
    REPORTING
    PERSON                           -0-
    WITH                -------------------------------------------------------
                              7      SOLE DISPOSITIVE POWER

                                     2,665,614
                        -------------------------------------------------------
                              8      SHARED DISPOSITIVE POWER

                                     -0-
-------------------------------------------------------------------------------
 9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       2,665,614
-------------------------------------------------------------------------------
10     CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)
                                                                           [ ]
-------------------------------------------------------------------------------
11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       10.8%
-------------------------------------------------------------------------------
12     TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       CO
-------------------------------------------------------------------------------


<PAGE>

                                SCHEDULE 13G/A

-------------------------                             -------------------------
CUSIP No. 457660 10 8                                 Page   3   of  7   Pages
-------------------------                             -------------------------

-------------------------------------------------------------------------------
 1     NAME OF REPORTING PERSONS.
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
       ONLY).

       Pharmacia & Upjohn Holdings B.V.
-------------------------------------------------------------------------------
 2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                                       (A)  [ ]
                                                                       (B)  [ ]
-------------------------------------------------------------------------------
 3     SEC USE ONLY


-------------------------------------------------------------------------------
 4     CITIZENSHIP OR PLACE OF ORGANIZATION

       Netherlands
-------------------------------------------------------------------------------
    NUMBER OF                 5      SOLE VOTING POWER
    SHARES
    BENEFICIALLY                     2,665,614
    OWNED BY            -------------------------------------------------------
    EACH                      6      SHARED VOTING POWER
    REPORTING
    PERSON                           -0-
    WITH                -------------------------------------------------------
                              7      SOLE DISPOSITIVE POWER

                                     2,665,614
                        -------------------------------------------------------
                              8      SHARED DISPOSITIVE POWER

                                     -0-
-------------------------------------------------------------------------------
 9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       2,665,614
-------------------------------------------------------------------------------
 10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)
                                                                         [ ]
-------------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       10.8%
-------------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       OO
-------------------------------------------------------------------------------


<PAGE>

                                SCHEDULE 13G/A

-------------------------                             -------------------------
CUSIP No. 457660 10 8                                 Page   4   of  7   Pages
-------------------------                             -------------------------

-------------------------------------------------------------------------------
 1     NAME OF REPORTING PERSONS.
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
       ONLY).

       Pharmacia & Upjohn, Inc.
-------------------------------------------------------------------------------
 2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                                       (A)  [ ]
                                                                       (B)  [ ]
-------------------------------------------------------------------------------
 3     SEC USE ONLY


-------------------------------------------------------------------------------
 4     CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware
-------------------------------------------------------------------------------
    NUMBER OF                 5      SOLE VOTING POWER
    SHARES
    BENEFICIALLY                     2,665,614
    OWNED BY            -------------------------------------------------------
    EACH                      6      SHARED VOTING POWER
    REPORTING
    PERSON                           -0-
    WITH                -------------------------------------------------------
                              7      SOLE DISPOSITIVE POWER

                                     2,665,614
                        -------------------------------------------------------
                              8      SHARED DISPOSITIVE POWER

                                     -0-
-------------------------------------------------------------------------------
 9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       2,665,614
-------------------------------------------------------------------------------
 10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)
                                                                          [ ]
-------------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       10.8%
-------------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       CO
-------------------------------------------------------------------------------


<PAGE>

                                SCHEDULE 13G/A

-------------------------                             -------------------------
CUSIP No. 457660 10 8                                 Page   5   of  7   Pages
-------------------------                             -------------------------

-------------------------------------------------------------------------------
 1     NAME OF REPORTING PERSONS.
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
       ONLY).

       Pharmacia Corporation
-------------------------------------------------------------------------------
 2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                                       (A)  [ ]
                                                                       (B)  [ ]
-------------------------------------------------------------------------------
 3     SEC USE ONLY


-------------------------------------------------------------------------------
 4     CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware
-------------------------------------------------------------------------------
    NUMBER OF                 5      SOLE VOTING POWER
    SHARES
    BENEFICIALLY                     2,665,614
    OWNED BY            -------------------------------------------------------
    EACH                      6      SHARED VOTING POWER
    REPORTING
    PERSON                           -0-
    WITH                -------------------------------------------------------
                              7      SOLE DISPOSITIVE POWER

                                     2,665,614
                        -------------------------------------------------------
                              8      SHARED DISPOSITIVE POWER

                                     -0-
-------------------------------------------------------------------------------
 9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       2,665,614
-------------------------------------------------------------------------------
 10    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)  [ ]
                                                                          [ ]
-------------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       10.8%
-------------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       CO, HC
-------------------------------------------------------------------------------



<PAGE>

CUSIP Number: 457660 10 8                                           Page 6 of 7


         Pharmacia & Upjohn AB (formerly Pharmacia AB), a Swedish corporation
("P&U AB"), Pharmacia & Upjohn Holdings BV, a "check the box" entity
incorporated in the Netherlands ("P&U BV") and Pharmacia & Upjohn, Inc. ("P&U
Inc."), and Pharmacia Corporation (formerly Monsanto Company), a Delaware
corporation ("PHA", and together with the P&U AB, P&U BV and P&U Inc. the
"Reporting Persons") hereby amend the report on Schedule 13G/A (the "Schedule
13G/A") filed by the Reporting Persons on April 10, 2000, with respect to shares
of Common Stock, par value $0.01 per share (the "Shares"), of Insite Vision
Incorporated, a Delaware corporation ("Insite"), beneficially owned by them.
Capitalized terms used but not defined herein shall have the meaning attributed
to such terms in the Schedule 13G/A.

ITEM 4.  OWNERSHIP.

         Item 4 of the Schedule 13G/A is amended in its entirety as follows:

     (a). P&U AB beneficially owns 2,665,614 Shares of InSite. P&U BV, P&U Inc.
     and PHA may be each deemed to beneficially own 2,665,614 Shares of InSite.

     (b). The percentage interest held by each Reporting Person presented below
     is based on the number of Shares reported to be outstanding as of May 30,
     2000 in Insite's Registration Statement on Form S-3, filed June 1, 2000
     (the "Outstanding Shares").

         P&U AB beneficially owns approximately 10.8% of the Outstanding Shares.
     P&U BV, P&U Inc. and PHA may be each deemed to beneficially own
     approximately 10.8% of the Outstanding Shares.

     (c). Each Reporting Person has the power to vote or direct the vote and
     dispose or direct the disposition of the Shares beneficially owned by such
     Reporting Persons as indicated in pages 2 through 5 above.


<PAGE>


CUSIP Number: 457660 10 8                                           Page 7 of 7


ITEM 10. CERTIFICATION.

         By signing below we certify that, to the best of our knowledge and
     belief, the securities referred to above were not acquired and are not held
     for the purpose of or with the effect of changing or influencing the
     control of the issuer of the securities and were not acquired and are not
     held in connection with or as a participant in any transaction having that
     purpose or effect.



                                    SIGNATURE

         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.

Dated: June 21, 2000

                                               PHARMACIA CORPORATION


                                               By:     /s/ Don W. Schmitz
                                                    ----------------------------
                                                    Name:  Don W. Schmitz
                                                    Title: Corporate Secretary


<PAGE>



                                INDEX TO EXHIBITS

Exhibit No.             Exhibit
-----------             -------

99.1                    Joint Filing Statement, dated April 10, 2000, between
                        Pharmacia & Upjohn AB, Pharmacia & Upjohn Holdings BV,
                        Pharmacia & Upjohn, Inc. and Pharmacia Corporation
                        (incorporated herein by reference to Schedule 13G/A
                        filed on April 10, 2000)

99.2                    Item 7 Information (incorporated herein by reference to
                        Schedule 13G/A filed on April 10, 2000)




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