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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5 )*
---------
Copley Pharmaceutical, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
21745K-10-1
-----------
(CUSIP Number)
*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 the disclosures provided in a prior cover page.
The information required in 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 1 of 9 pages
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CUSIP NO. 21745K-10-1 13G PAGE 2 OF 9 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jane C.I. Hirsh
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
USA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 1,482,502
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,482,502
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,482,502
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
7.68%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 9 pages
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CUSIP NO. 21745K-10-1 13G PAGE 3 OF 9 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mark Hirsh
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
USA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 1,482,502
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,482,502
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,482,502
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
7.68%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 9 pages
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CUSIP NO. 21745K-10-1 13G PAGE 4 OF 9 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Theodore L. Iorio
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
USA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
1,154,186
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 433,455
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
1,154,186
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
433,455
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,587,641
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES* [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
8.23%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 9 pages
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Item 1(a). Name of Issuer: Copley Pharmaceutical, Inc.
--------------
Item 1(b). Address of Issuer's Principal Executive Offices:
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25 John Road, Canton, MA 02021
Item 2(a). Name of Person Filing: Jane C.I. Hirsh, Mark Hirsh and Theodore L.
---------------------
Iorio (the "Reporting Persons").
Item 2(b). Address of Principal Business Office or, if None, Residence: The
-----------------------------------------------------------
principal business office of each of the Reporting Persons is c/o
Copley Pharmaceutical, Inc., 25 John Road, Canton, MA 02021.
Item 2(c). Citizenship: Jane C.I. Hirsh, Mark Hirsh and Theodore L. Iorio are
-----------
United States citizens.
Item 2(d). Title of Class of Securities: Common Stock, $.01 par value per
----------------------------
share ("Common Stock").
Item 2(e). CUSIP Number: 21745K-10-1.
------------
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
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check whether the person filing is a:
------------------------------------
(a) [ ] Broker or Dealer registered under Section 15 of the
Securities Exchange Act of 1934 (the "Act").
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act.
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940.
(e) [ ] Investment Advisor registered under Section 203 of the
Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F) of the Act.
(g) [ ] Parent Holding Company, in accordance with Rule 13d-
1(b)(ii)(G) of the Act.
(h) [ ] Group, in accordance with Rule 13a-1(b)(1)(ii)(H) of the
Act.
Page 5 of 9 pages
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Item 4. Ownership.
---------
(a) Amount Beneficially Owned:
Jane C.I. Hirsh is the record owner of 112,500 shares (which number
includes 112,500 options exercisable within 60 days of 12/31/97). Ms.
Hirsh may be deemed to beneficially own 24,429 shares and 6,889 shares
which are allocated to herself and her spouse, Mark Hirsh,
respectively, in the Copley Pharmaceutical, Inc. Employee Stock
Ownership Plan. By virtue of her status as the spouse of Mark Hirsh,
Ms. Hirsh may be deemed to beneficially own 45,000 shares of Common
Stock which are individually owned by Mark Hirsh (which number
includes 45,000 options exercisable within 60 days of 12/31/96) and
191,991 shares which Mark Hirsh owns in his capacity as the General
Partner of Romeo Partners. Ms. Hirsh may be deemed to beneficially own
901,693 shares in Copley Pharmaceutical, Inc. by virtue of her status
as the general partner of Juliet Partners. Ms. Hirsh may be deemed to
be the beneficial owner of 200,000 shares by virtue of her status as a
general partner in NMJ Limited partnership. Therefore, Ms. Hirsh may
be deemed to beneficially own 1,482,502 shares of Common Stock. Ms.
Hirsh expressly disclaims beneficial ownership of shares of Common
Stock held of record by The Hirsh Family Foundation, Mark Hirsh and/or
allocated in the Copley Pharmaceutical, Inc. Employee Stock Ownership
Plan to Mark Hirsh.
Mark Hirsh is the record owner of 45,000 shares (which number includes
45,000 options exercisable within 60 days of 12/31/97). Dr. Hirsh may
be deemed to beneficially own 24,429 shares and 6,889 shares which are
allocated to his spouse, Jane C.I. Hirsh, and himself, respectively,
in the Copley Pharmaceutical, Inc. Employee Stock Ownership Plan. By
virtue of his status as the spouse of Jane C.I. Hirsh, Dr. Hirsh may
be deemed to beneficially own 112,500 shares of Common Stock which are
individually owned by Jane C.I. Hirsh (which number includes 112,500
options exercisable within 60 days of 12/31/96) and 901,693 which Jane
Hirsh owns in her capacity as the general partner of Juliet Partners.
Dr. Hirsh may be deemed to beneficially own 191,991 shares by virtue
of his status as the general partner of Romeo Partners. Mr. Hirsh may
be deemed to beneficially own 200,000 shares by virtue of his status
as general partner in NMJ Limited Partnership. Therefore, Dr. Hirsh
may be deemed to be the beneficial owner of 1,482,502 shares of Common
Stock. Dr. Hirsh expressly disclaims beneficial ownership of shares of
Common stock held of record by the Hirsh Family Foundation, Jane C.I.
Hirsh and/or allocated in the Copley Pharmaceutical, Inc. Employee
Stock Ownership Plan to Jane C.I. Hirsh.
Theodore L. Iorio is the record owner of 286,885 shares (which number
includes 150,605 options exercisable within 60 days of 12/31/97).
Additionally, Mr. Iorio may be deemed to beneficially own: 27,713
shares which are held of record by the Iorio Family Foundation;
163,932 shares which are held of record by the Theodore L. Iorio
Charitable Remainder Trust; 653,454 shares which are held of record by
the Theodore L. Iorio Standard Trust; and 22,202 shares allocated to
Mr. Iorio in the Copley Pharmaceutical, Inc. Employee Stock Ownership
Plan. Also includes 433,455 shares held by trusts for the benefit of
certain members of Mr. Iorio's family, for which Mr. Iorio's spouse is
custodian, the beneficial ownership of which Mr. Iorio disclaims.
Therefore, Mr. Iorio may be deemed to be the beneficial owner of
1,587,641 shares of Common Stock. Mr. Iorio expressly disclaims
beneficial ownership of shares of Common Stock held of record by the
Iorio Family Foundation and the Theodore L. Iorio Charitable Remainder
Trust.
(b) Percent of Class:
Jane C.I. Hirsh, Mark Hirsh, and Theodore L. Iorio may be deemed to
beneficially own 7.68%, 7.68%, and 8.23%, respectively (based on the
19,134,767 shares of Common Stock reported to be outstanding on
October 31, 1997 in the Copley Pharmaceutical, Inc. Quarterly Report
on Form 10-Q for the fiscal quarter ended 9/30/97).
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
Jane C.I. Hirsh: 0
Mark Hirsh 0
Theodore L. Iorio 1,154,186
(ii) shared power to vote or to direct the vote:
Jane C.I. Hirsh: 1,482,502
Page 6 of 9 pages
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Mark Hirsh 1,482,502
Theodore L. Iorio 433,455
(iii) sole power to dispose or to direct the disposition of:
Jane C.I. Hirsh: 0
Mark Hirsh 0
Theodore L. Iorio 1,154,186
(iv) shared power to dispose or to direct the disposition of:
Jane C.I. Hirsh: 1,482,502
Mark Hirsh 1,482,502
Theodore L. Iorio 433,455
Item 5. Ownership of Five Percent or Less of a Class.
--------------------------------------------
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following
[ ].
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
---------------------------------------------------------------
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
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Security Being Reported on by the Parent Holding Company.
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Not applicable. This statement is not filed pursuant to Rule 13d-
1(b)(ii)(G).
Item 8. Identification and Classification of Members of the Group.
---------------------------------------------------------
Not applicable. This statement is not filed pursuant to Rule 13d-
1(b)(ii)(H).
Item 9. Notice of Dissolution of Group.
------------------------------
Not applicable.
Item 10. Certification.
-------------
Not applicable. This statement is not filed pursuant to Rule 13d-1(b).
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
Page 7 of 9 pages
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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: February 9, 1998 /s/ Jane C.I. Hirsh
--------------------------------
Jane C.I. Hirsh
/s/ Mark Hirsh
--------------------------------
Mark Hirsh
/s/ Theodore L. Iorio
--------------------------------
Theodore L. Iorio
Page 8 of 9 pages
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EXHIBIT I
---------
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of
1934, the undersigned hereby agree that only one statement containing the
information required on Amendment No. 5 to Schedule 13G need be filed with
respect to ownership by each of the undersigned of shares of Common Stock of
Copley Pharmaceutical, Inc.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original.
Dated: February 9, 1998 /s/ Jane C.I. Hirsh
--------------------------------
Jane C.I. Hirsh
/s/ Mark Hirsh
--------------------------------
Mark Hirsh
/s/ Theodore L. Iorio
--------------------------------
Theodore L. Iorio
Page 9 of 9 pages
