SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
EMISPHERE TECHNOLOGIES, INC.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
291345 10 6
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(CUSIP Number)
Kevin Insley
Elan International Services Ltd.
102 St. James Court
Flatts Smiths, FL04 Bermuda
(441) 292-9169
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
December 13, 1999
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(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 ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box / /.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7(b) 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).
<PAGE>
SCHEDULE 13D
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CUSIP No. 291345 10 6
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Elan International Services Ltd.
I.R.S. Employer Identification No.: NA
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
N/A
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
/ /
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
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7 SOLE VOTING POWER
NUMBER OF 712,000
SHARES ___________________________________________________
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH None
REPORTING ___________________________________________________
PERSON WITH 9 SOLE DISPOSITIVE POWER
712,000
___________________________________________________
10 SHARED DISPOSITIVE POWER
None
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
712,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
N/A
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.9
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14 TYPE OF REPORTING PERSON
CO
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Page 2 of 4 Pages
<PAGE>
Item 1. Security and Issuer.
This statement amends the Schedule 13D filed by Elan International
Services, Inc., a corporation organized and existing under the laws of Bermuda
("Elan International"), with the Securities and Exchange Commission on October
27, 1995 (the "Schedule 13D") with respect to the Common Stock, $.01 par value
(the "Common Stock"), of Emisphere Technologies, Inc., a Delaware corporation
(the "Issuer"). The address of the principal executive offices of the Issuer is:
765 Old Saw Mill River Road, Tarrytown, New York 10591.
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is hereby amended and restated in its entirety
as follows:
(a) As of December 13, 1999, Elan International beneficially owns 712,000
shares of Common Stock, or approximately 4.9% of the Common Stock of the Issuer
(based on the number of shares of Common Stock outstanding on November 30, 1999
as set forth in the Issuer's Form 10-K/A filed with the Securities and Exchange
Commission on December 9, 1999). To the best knowledge of Elan International, no
other person named in Item 2 above beneficially owns any shares of the Issuer's
Common Stock.
(b) To the best knowledge of Elan International, it has sole power to vote
or direct the vote of, and to dispose of or direct the disposition of, all of
the shares of Common Stock beneficially owned by it.
(c) In a series of transactions from December 2, 1999 to December 13, 1999,
Elan International disposed of 228,000 shares of the Common Stock of the Issuer
at an average price of $19.93 per share in brokers' transactions on Nasdaq.
(d) Not applicable.
(e) Elan International ceased to be the beneficial owner of more than 5.0%
of the Common Stock on December 13, 1999.
Page 3 of 4 Pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge, I certify that
the information set forth in this statement is true, complete and correct.
Dated: December 14, 1999
ELAN INTERNATIONAL SERVICES LTD.
By: /s/ Kevin Insley
---------------------------------------
Name: Kevin Insley
Title: President and
Chief Financial Officer
Page 4 of 4 Pages
