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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. 1 )*
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Neurex Corp.
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Name of Issuer
Common Stock
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Title of Class of Securities
641238100
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CUSIP Number
April 29, 1998
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Date of event which requires filing of this statement
Check the appropriate box to designate the rule pursuant to which this schedule
is filed:
[x] Rule 13d - 1(b)
[ ] Rule 13d - 1(c)
[ ] Rule 13d - 1(d)
*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).
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CUSIP No: 641238100
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
UBS Asset Management (New York) Inc.
Tax ID: 13-2725861
2. Check the Appropriate Box if a Member of a Group
a.[ ]
b.[ ]
3. SEC Use Only
4. Citizenship or Place of Organization
New York
5. Sole Voting Power:
-0-
Number of 6. Shared Voting Power:
Shares -0-
Beneficially
Owned by 7. Sole Dispositive Power:
Each 1,020,000
Reporting
Person 8. Shared Dispositive Power:
With -0-
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,020,000
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
11. Percent of Class Represented by Amount in Row (9)
4.56%
12. Type of Reporting Person
IA
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CUSIP Number: 641238100
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
UBS (Lux) Equity Invest-Biotech, a Subfund of UBS (Lux) Equity Invest
c/o INTRAG International Equity Invest (Company for Fund Management) S.A.
2. Check the Appropriate Box if a Member of a Group
a.[ ]
b.[ ]
3. SEC Use Only
4. Citizenship or Place of Organization
Luxembourg
5. Sole Voting Power:
1,020,000
Number of
Shares 6. Shared Voting Power:
Beneficially -0-
Owned by
Each 7. Sole Dispositive Power:
Reporting -0-
Person
With 8. Shared Dispositive Power:
-0-
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,020,000
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
11. Percent of Class Represented by Amount in Row (9)
4.56%
12. Type of Reporting Person
00
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Item 1(a) Name of Issuer: Neurex Corp. (the "Company")
(b) Address of Issuer's Principal Executive Offices:
3760 Haven Avenue
Menlo Park, CA 94025-1012
Item 2(a) - (c). Name, Principal Business Address, and Citizenship of Persons
Filing:
UBS Asset Management (New York) Inc.
1345 Avenue of the Americas
New York, New York 10105
UBS (Lux) Equity Invest-Biotech, a subfund of UBS (Lux) Equity Invest
c/o INTRAG International Equity Invest (Company for Fund Management) S.A.,
3-5, Place Winston Churchill, B.P. 134 2011 Luxembourg
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 641238100
Item 3. This statement is filed pursuant to Rule 13d-1(b).
UBS Asset Management (New York) Inc. is an investment adviser
registered under Section 203 of the Investment advisers Act of 1940.
Item 4. Ownership.
UBS (Lux) Equity Invest-Biotech, a subfund of UBS (Lux) Equity Investis
an investment fund organized under Luxembourg law. UBS Asset Management (New
York) Inc. and UBS (Lux) Equity Invest-Biotech, a Subfund of UBS (Lux) Equity
Invest beneficially own 1,020,000 shares of the Company's Common Stock
(representing approximately 4.56% of the outstanding shares of such Common
Stock). UBS Asset Management (New York) Inc. possesses the power to dispose of
and direct the disposition of all 1,020,000 shares. UBS (Lux) Equity
Invest-Biotech, a Subfund of UBS (Lux) Equity Invest possesses the power to vote
or direct the vote of all 1,020,000 Shares. The holdings listed above are as of
April 29, 1998.
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Item 5. Ownership of Five Percent or Less of a Class.
See Item 4.
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 Security Being Reported by the Parent Holding Company.
Not Applicable.
Item 8. Identification and Classification of Members of the Group.
Not Applicable.
Item 9. Notice of Dissolution of the Group.
Not Applicable.
Item 10. By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purpose or effect.
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.
UBS Asset Management (New York) Inc.
By: /s/ Joseph Scavo May 8, 1998
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Title: Director of Compliance Date
INTRAG International Equity Trust (Company for Fund Management) S.A.
By: /s/ Gilbert Schintgen May 8, 1998
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Title: Director Date
By: /s/ Manuel Hauser May 8, 1998
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Title: Director Date
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