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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
- -------- -----------------------------
/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: FEBRUARY 1, 1994
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 -----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
Elan Pharmaceutical Investments Ltd. Sheffield Pharmaceuticals, Inc.(SHM) Director 10% Owner
Elan International Services, Ltd. ---- --x--
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- title ---- (specify
Number of Reporting Month/Year below) below
102 St. James Court Person (Voluntary) ----------------- ------------------
October 1999
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(Street) 5. If Amendment,
Date of Original
Flatts, Smith Parish F104 Bermuda (Month/Year)
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(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ------------------------------------------- Month Indirect Owner-
Year) (A) or (I) ship
Code V Amount (D) Price (Instr. 3 (Instr. 4) (Instr. 4)
and 4)
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Common Stock June 30, 1998 P (2) 4,571,428 (3)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Page 1 of 3
* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v). SEC 1474 (3/91)
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.
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FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
--------------------
Date Expira-
-------------------------------------- Exer- tion
cisable Date
Code V (A) (D)
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Series D Preferred Stock $4.86 10/18/99 P 12,015 10/18/01 10/18/05
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Series F Preferred Stock $3.40 10/18/99 P 5,000 10/18/01 10/18/05
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Warrant $6.00 10/18/99 P N/A 10/18/02 10/18/06
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Warrant $2.00 6/30/98 P N/A 12/31/98 6/30/05
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Series C Convertible $1.41 6/30/98 P 11,500 6/30/98 6/30/08
Preferred Stock
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Convertible Promissory $1.75 6/30/98 P N/A 6/30/05
Note
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See attached page
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7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
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Common 2,472,222 $12,015,000 12,015 (3)
Stock
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Common N/A (1) 5,000 (3)
Stock
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Common 150,000 (1) N/A (3)
Stock
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Common 99,000 (2) N/A (3)
Stock
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8,904,965
Common (as of $11,500,000 12,556 (3)
Stock 10/19/99)
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1,209,485
Common (as of N/A N/A (3)
Stock 10/19/99)
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Page 2 of 3
SEC 1474 (3/91)
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Explanation of Responses:
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(1) The Shares of Series F Preferred Stock and the Warrant issued
in October, 1999 were purchased for smaller aggregate consideration
of $5,000,000. See Signatures Below
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(2) The Shares of Common Stock and the Warrant issued on June 30, 1998 **Signature of Reporting Person
were purchased for aggregate consideration of $6,000,000.
(3) Elan Pharmaceutical Investments Ltd. ("EPIL") is the record and
beneficial owner of the securities purchased on June 30, 1998.
Elan International Services, Ltd. is the record and beneficial
owner of securities purchased on October 18, 1999 ("EIS"). EIS
and EPIL are each wholly-owned subsidiaries of Elan Corporation,
plc, an Irish public limited company.
SIGNATURES
After due inquiry and to the best of my knowledge and belief, the undersigned
certifies that the information set forth in this statement is true, complete
and correct.
Dated: November 10, 1999
ELAN PHARMACEUTICAL INVESTMENTS LTD. ELAN INTERNATIONAL SERVICES, LTD.
By: /s/ Kevin Insley By: /s/ Kevin Insley
--------------------------------- ---------------------------------
** Signature of Reporting Person ** Signature of Reporting Person
**Intentional misstatements or omissions of facts constitute
Federal Criminal Violations.
SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.
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 Number.
Page 3 of 3
SEC 1474 (3/91)
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