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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(D)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
AMENDMENT NO. 1
ALZA TTS RESEARCH PARTNERS, LTD.
(Name of subject company)
PHARMAINVEST, L.L.C.
PHARMACEUTICAL ROYALTIES, L.L.C.
PHARMACEUTICAL ROYALTY INVESTMENTS LTD.
PHARMACEUTICAL PARTNERS, L.L.C.
(Bidder)
UNITS OF LIMITED PARTNERSHIP INTEREST
(Title of class of securities)
NONE
(CUSIP Number)
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PABLO LEGORRETA, DAVE MADDEN
PHARMAINVEST, L.L.C.
70 E. 55th St., 23rd Floor
New York, NY 10022
(800) 600-1450
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COPIES TO:
F. GEORGE DAVITT, ESQ.
TESTA, HURWITZ & THIBEAULT, LLP
HIGH STREET TOWER
125 HIGH STREET
BOSTON, MA 02110
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This Amendment No. 1 amends and supplements the Tender Offer Statement on
Schedule 14D-1 as filed by PharmaInvest, L.L.C., a Delaware limited liability
company (the "Purchaser") on behalf of Pharmaceutical Royalties, L.L.C., a
Delaware limited liability company, and Pharmaceutical Royalty Investments Ltd.,
a Bermuda company (collectively the "Funds"), and on behalf of Pharmaceutical
Partners, L.L.C., relating to the offer by Purchaser to purchase outstanding
Units of Limited Partnership Interest (the "Units"), of ALZA TTS Research
Partners, Ltd. (the "Partnership"), a California limited partnership, at $12,000
per Unit, net to the seller in cash, on the terms and subject to the conditions
set forth in the Offer to Purchase, dated November 20, 1997 (the "Offer to
Purchase"), and in the related Letter of Transmittal and any amendments or
supplements thereto, copies of which are attached hereto as Exhibits (a)(1) and
(a)(2), respectively (which collectively constitute the "Offer").
As of 5:00 p.m., Eastern Standard Time on Thursday, December 18, 1997,
approximately 13 Units have been tendered in the Offer.
The Expiration Date of the Offer is hereby amended so that the Offer will
expire at 12:00 midnight, Eastern Standard Time on January 23, 1997.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS
Item 11 is hereby amended as follows:
(a)(4) Press Release dated November 21, 1997.
(a)(5) Press Release dated December 19, 1997.
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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.
Dated: December 19, 1997
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PHARMAINVEST, L.L.C.
By: /s/ PABLO LEGORRETA
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Title: Managing Member of
Pharmaceutical Partners, L.L.C., the Manager
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PHARMACEUTICAL ROYALTIES, L.L.C.
By: /s/ PABLO LEGORRETA
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Title: Managing Member of
Pharmaceutical Partners, L.L.C., the Manager
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PHARMACEUTICAL ROYALTY
INVESTMENTS LTD.
By: /s/ PABLO LEGORRETA
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Title: Managing Member of
Pharmaceutical Partners, L.L.C., the Manager
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PHARMACEUTICAL PARTNERS, L.L.C.
By: /s/ PABLO LEGORRETA
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Title: Managing Member
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EXHIBIT INDEX
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EXHIBIT DESCRIPTION
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(a)(4) Press Release dated November 21, 1997
(a)(5) Press Release dated December 19, 1997
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Exhibit 99(a)(4)
PHARMAINVEST, L.L.C. ANNOUNCES TENDER OFFER
NEW YORK, NY (Business Wire) -- Nov. 21, 1997 -- PharmaInvest, L.L.C.
announced it has commenced a tender offer for up to 1,400 units of limited
partnership interest of ALZA TTS Research Partners, Ltd. Details of the
tender offer have been filed with the U.S. Securities and Exchange Commission
and have been mailed to holders of the units. PharmaInvest will pay $12,000
for each unit of limited partnership interest. The tender offer will expire
December 19, 1997 unless extended.
Copies of the tender offer materials can be obtained from MacKenzie
Partners, Inc. at (800) 322-2885.
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PHARMAINVEST, L.L.C. EXTENDS TENDER OFFER
NEW YORK, NEW YORK (December 19, 1997).......PharmaInvest, L.L.C. has
announced that its offer to purchase up to 1,400 of the outstanding units of
limited partnership interest of ALZA TTS Research Partners, Ltd. has been
extended and is now scheduled to expire at 12:00 Midnight (Eastern Standard
Time) on January 23, 1997. As of 5:00 p.m. on December 18, 1997, approximately
13 Units had been tendered and not withdrawn.
For additional information, contact MacKenzie Partners, Inc., the
Information Agent, at (800) 322-2885.