<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------
SCHEDULE 13D/A
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(AMENDMENT NO. 4 )(1)
-----
PAINEWEBBER R&D PARTNERS II, L.P.
- --------------------------------------------------------------------------------
(Name of Issuer)
UNITS OF LIMITED PARTNERSHIP INTEREST
- --------------------------------------------------------------------------------
(Title of Class of Securities)
695922 20 3
- --------------------------------------------------------------------------------
(CUSIP Number)
Pablo Legorreta and David Madden (800) 600-1450
C/o Pharmaceutical Partners, L.L.C., 675 Third Avenue, Suite 3000,
New York, Ny 10017
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
With Copies to:
F. George Davitt, Esq. (617) 248-7000
C/o Testa, Hurwitz & Thibeault, LLP, 125 High Street, Boston, Ma 02110
- --------------------------------------------------------------------------------
FEBRUARY 17, 2000
- --------------------------------------------------------------------------------
(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(e), 13d-1(f) or 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 Rule 13d-7(b) for
other parties to whom copies are to be sent.
- ----------------------------
(1) 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 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>
- --------------------------------
CUSIP NO. 695922 20 3
- --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pharmaceutical Royalties, L.L.C.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)/ /
(b)/ /
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) or 2(e)
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ---------------------------- -------- ------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 468
REPORTING -------- ------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-------- ------------------------------------------
10 SHARED DISPOSITIVE POWER
468
- ---------------------------- -------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
468
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN / /
SHARES
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------- ---------------------------------------------------------------------
<PAGE>
- --------------------------------
CUSIP NO. 695922 20 3
- --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pharmaceutical Royalty, Investments, Ltd.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)/ /
(b)/ /
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) or 2(e)
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
- ---------------------------- -------- ------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 1860
REPORTING -------- ------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-------- ------------------------------------------
10 SHARED DISPOSITIVE POWER
1860
- ---------------------------- -------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1860
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN / /
SHARES
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.5%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------- ---------------------------------------------------------------------
<PAGE>
- --------------------------------
CUSIP NO. 695922 20 3
- --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bioventure Investments, kft
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)/ /
(b)/ /
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) or 2(e)
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Hungary
- ---------------------------- -------- ------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 1860
REPORTING -------- ------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-------- ------------------------------------------
10 SHARED DISPOSITIVE POWER
1860
- ---------------------------- -------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1860
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN / /
SHARES
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.5%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------- ---------------------------------------------------------------------
<PAGE>
- --------------------------------
CUSIP NO. 695922 20 3
- --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pharmaceutical Partners, L.L.C.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)/ /
(b)/ /
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) or 2(e)
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ---------------------------- -------- ------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2328
REPORTING -------- ------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-------- ------------------------------------------
10 SHARED DISPOSITIVE POWER
2328
- ---------------------------- -------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2328
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN / /
SHARES
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.2%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------- ---------------------------------------------------------------------
<PAGE>
- --------------------------------
CUSIP NO. 695922 20 3
- --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stephen Evans-Freke
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)/ /
(b)/ /
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) or 2(e)
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
- ---------------------------- -------- ------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2328
REPORTING -------- ------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-------- ------------------------------------------
10 SHARED DISPOSITIVE POWER
2328
- ---------------------------- -------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2328
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN / /
SHARES
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.2%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ---------- ---------------------------------------------------------------------
<PAGE>
- --------------------------------
CUSIP NO. 695922 20 3
- --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pablo Legorreta
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)/ /
(b)/ /
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) or 2(e)
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Mexico
- ---------------------------- -------- ------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2328
REPORTING -------- ------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-------- ------------------------------------------
10 SHARED DISPOSITIVE POWER
2328
- ---------------------------- -------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2328
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN / /
SHARES
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.2%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ---------- ---------------------------------------------------------------------
<PAGE>
- --------------------------------
CUSIP NO. 695922 20 3
- --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David Madden
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)/ /
(b)/ /
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) or 2(e)
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ---------------------------- -------- ------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2328
REPORTING -------- ------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-------- ------------------------------------------
10 SHARED DISPOSITIVE POWER
2328
- ---------------------------- -------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2328
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN / /
SHARES
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.2%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ---------- ---------------------------------------------------------------------
<PAGE>
- --------------------------------
CUSIP NO. 695922 20 3
- --------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Rory Riggs
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)/ /
(b)/ /
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / /
PURSUANT TO ITEMS 2(d) or 2(e)
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ---------------------------- -------- ------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2328
REPORTING -------- ------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-------- ------------------------------------------
10 SHARED DISPOSITIVE POWER
2328
- ---------------------------- -------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2328
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN / /
SHARES
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.2%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ---------- ---------------------------------------------------------------------
<PAGE>
This Amendment (the "Amendment") is Amendment No. 4 to the Schedule 13D
(the "Original Schedule 13D") as filed on November 17, 1997 with the Securities
and Exchange Commission (the "SEC"), as amended by Amendment No. 1 ("Amendment
No. 1") as filed on February 23, 1999 with the SEC, Amendment No. 2 ("Amendment
No. 2") as filed on March 10, 1999 with the SEC and Amendment No. 3 ("Amendment
No. 3", the Original Schedule 13D as amended by Amendment No. 1, Amendment No. 2
and Amendment No. 3 being hereinafter referred to as the "Amended Original 13D")
as filed on June 4, 1999 with the SEC on behalf of BioRoyalties, L.L.C.
("BioRoyalties"), Pharmaceutical Royalties, L.L.C. ("PRLLC"), Pharmaceutical
Royalty Investments, Ltd. ("PRI"), Bioventure Investments, kft ("Bioventure"),
Pharmaceutical Partners, L.L.C. ("PPLLC"), Stephen Evans-Freke, Pablo Legorreta,
David Madden and Rory Riggs relating to beneficial ownership of outstanding
units of limited partnership interest (the "Units") of PaineWebber R&D Partners
II, L.P. (the "Partnership"). Amendment No. 1 constituted the final amendment to
the Original Schedule 13D filed on behalf of BioRoyalties. PRLLC, PRI,
Bioventure, PPLLC and Messrs. Evans-Freke, Legorreta, Madden and Riggs are
herein collectively referred to as the "Reporting Persons." Unless otherwise
noted, the information contained in this Amendment amends and supplements the
information previously disclosed in the Amended Original 13D.
As used herein, the 1997 Offer shall also mean the Offer as used in the
Amended Original 13D.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
The information contained in this Item 5 amends and restates, in its entirety,
the information previously disclosed in the Amended Original 13D.
(a) PRLLC beneficially owns 468 Units (5.7%) of the outstanding Units and
disclaims beneficial ownership of all other Units held by all other
Reporting Persons as contemplated herein.
Bioventure beneficially owns 1,860 Units (22.5%) of the outstanding
Units and disclaims beneficial ownership of all other Units held by all
other Reporting Persons as contemplated herein.
PRI, as an indirect owner of Bioventure, may be deemed to beneficially
own 1,860 Units (22.5%) of the outstanding Units and hereby disclaims
beneficial ownership of the 1,860 Units and all other Units
beneficially owned by all other Reporting Persons as contemplated
herein.
PPLLC is the sole manager of PRLLC and, by contract, the manager of
Bioventure and may be deemed to own beneficially 2,328 Units (28.2%) of
the outstanding Units. PPLLC disclaims beneficial ownership of such
Units.
Each of Messrs. Evans-Freke, Legorreta, Madden and Riggs is a managing
member of PPLLC and may be deemed to own beneficially 2,328 Units
(28.2%) of the outstanding Units. Each of Messrs. Evans-Freke,
Legorreta, Madden and Riggs disclaims beneficial ownership of such
Units except to the extent of his indirect pecuniary interest.
(b) Number of Units as to which each person has
<PAGE>
(i) Sole power to vote or direct the vote:
0 Units for each Reporting Person.
(ii) Shares power to vote or direct the vote:
468 Units for PRLLC;
1,860 Units for each of Bioventure and PRI; and
2,328 Units for each of PPLLC and Messrs. Evans-Freke,
Legorreta, Madden and Riggs.
(iii) Sole power to dispose or to direct the disposition:
0 Units for each Reporting Person.
(iv) Shared power to dispose or to direct this disposition:
468 Units for PRLLC;
1,860 Units for each of Bioventure and PRI; and
2,328 Units for each of PPLLC and Messrs. Evans-Freke,
Legorreta, Madden and Riggs.
(c) Pursuant to the 1997 Offer for the Units which was open from August 15,
1997 through October 7, 1997, BioRoyalties (on behalf of PRLLC and
PRI), PRLLC, PRI, PPLLC, and Messrs. Evans-Freke, Legorreta, Madden and
Riggs each became the beneficial owner of 849 Units. The price per Unit
in the 1997 Offer was $3,650.
From October 8, 1997 through October 1, 1998, the Reporting Persons
entered into 26 privately negotiated transactions pursuant to which the
Reporting Persons acquired beneficial ownership of an additional 54
Units at prices per Unit ranging from $1,580 to $3,502.
Between January 8, 1999 and March 3, 1999, the Reporting Persons were
notified of the approval of the transfer of an additional 614 Units,
effective January 1, 1999. The information set forth in Section 9 of
the 1999 Offer to Purchase is incorporated herein by reference.
Pursuant to the 1999 Offer for the Units which was open from March 3,
1999 through March 31, 1999, a total of 763.5 Units were tendered to
PharmaInvest (on behalf of PRLLC and PRI). The price per Unit in the
1999 Offer was $6,000. On May 6, 1999, the Reporting Persons were
notified of the approval of the transfer of 648.0 Units to Bioventure
and the transfer of 86.5 Units to PRLLC, and on May 24, 1999, the
Reporting Persons were notified of the approval of the transfer of 2.5
Units to Bioventure and the transfer of 26.5 Units to PRLLC. All
transfers of Units pursuant to the 1999 Offer are effective April 1,
1999.
<PAGE>
From April 1, 1999 through January 1, 2000, the Reporting Persons
entered into 18 privately negotiated transactions pursuant to which
the Reporting Persons acquired beneficial ownership of an additional
37 Units at prices per Unit ranging from $3,510 to $5,643.
In June 1999, the Reporting Persons were notified of an accounting
reconciliation of an additional 10.5 Units. The Reporting Persons have
conformed their records to those of the Partnership.
Throughout the periods described in this Item 5(c), the Reporting
Persons have made various transfers of the Units amongst their own
affiliated entities so that ownership of the Units is as stated in
Items 5(a) and 5(b) of this Amendment.
(d) No other person is known to have the right to receive or the power to
direct the receipt of dividends from, or any proceeds from the sale of,
the Units beneficially owned by any of the Reporting Persons.
(e) As of December 31, 1997, BioRoyalties ceased to be the beneficial owner
of more than 5% of the outstanding Units.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
The information contained in this Item 6 amends and supplements the information
previously disclosed in the Amended Original 13D.
On February 17, 2000, Bioventure, PRLLC and PPLLC entered into a Contractual
Payment Interest Purchase Agreement (the "Purchase Agreement") with the
Partnership. Bioventure, PRLLC and PPLLC are sometimes collectively referred
to herein as the "Pharma Purchaser" Subject to the terms and conditions
contained in the Purchase Agreement, the Partnership agreed to sell to
Bioventure and PRLLC four Class A and 19 Class C Centocor Partners III L.P.
Contractual Payment Interests (the "CPIs") paid by Centocor Inc. ("Centocor")
relating primarily to the sale of ReoPro(Registered Trademark) (a dual
receptor glycoprotein IIB/IIIA therapeutic manufactured by Centocor) for an
aggregate purchase price of $7,638,800, subject to adjustment. Pursuant to
the terms of the Purchase Agreement, the Partnership agreed to distribute in
kind to Bioventure and PRLLC, as the holders of approximately 28.2% of the
Units in the aggregate, an additional four Class A CPIs and 22 Class C CPIs,
in the aggregate, representing the pro rata limited partnership interest of
Bioventure and PRLLC in the CPIs the Partnership has made available to sell.
The sale and distribution are subject to the fulfillment of certain
conditions, including the Delaware Chancery Court (the "Court") rendering an
unappealable final order resolving all settlement matters in the action
entitled PaineWebber R&D Partners, II, L.P. v. Centocor, Inc., et al (the
"Action"), the consent of Centocor, the approval of the limited partners of
the Partnership in accordance with the terms of the Partnership Agreement of
the Partnership, the sale by certain affiliates of the general partner of the
Partnership to Bioventure and PRLLC of certain royalty streams payable by
Centocor with respect to the sale of ReoPro(Registered Trademark) on
substantially the same terms as the sales to the Pharma Purchaser and the
consummation of the transactions contemplated by that certain Amended and
Restated Contractual Payment Interest Purchase Agreement dated as of February
17, 2000 by and between the Partnership and Drug Royalty USA, Inc. The
Purchase Agreement may be terminated by the Partnership or the Pharma
Purchaser if the closing of the
<PAGE>
transactions thereunder do not occur prior to July 15, 2000. On February 17,
2000, the Court signed an order of final judgment (the "Final Order")
resolving all settlement matters in the Action. The Final Order was filed
with the Registrar of the Court on February 22, 2000.
<PAGE>
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: March 16, 2000
PHARMACEUTICAL ROYALTIES, L.L.C.
By: /s/ David Madden
-----------------------------------------
Name: David Madden
Title: Managing Member of Pharmaceutical
Partners, L.L.C., the Manager
PHARMACEUTICAL ROYALTY INVESTMENTS LTD.
By: /s/ David Madden
-----------------------------------------
Name: David Madden
Title: Managing Member of Pharmaceutical
Partners, L.L.C., the Manager
BIOVENTURE INVESTMENTS, Kft
By: /s/ Pablo Legorreta
-----------------------------------------
Name: Pablo Legorreta
Title: Managing Member of Pharmaceutical
Partners, L.L.C., the Manager
PHARMACEUTICAL PARTNERS, L.L.C.
By: /s/ Pablo Legorreta
-----------------------------------------
Name: Pablo Legorreta
Title: Managing Member
/s/ Stephen Evans-Freke
--------------------------------------------
Name: Stephen Evans-Freke
/s/ Pablo Legorreta
--------------------------------------------
Name: Pablo Legorreta
<PAGE>
/s/ David Madden
--------------------------------------------
Name: David Madden
/s/ Rory Riggs
--------------------------------------------
Name: Rory Riggs
