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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment Number 1)
Under the Securities Exchange Act of 1934
TRANSKARYOTIC THERAPIES, INC.
-----------------------------
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
--------------------------------------
(Title of Class of Securities)
893735-10-0
-----------
(CUSIP Number)
DR. ANDREAS BREMER
GRAFENAUWEG 4, 6301 ZUG CH/SWITZERLAND
011-41-41-724-5959
------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copy to:
Daniel L. Goelzer, Esq.
Baker & McKenzie
815 Connecticut Avenue, N.W.
Washington, D.C. 20006
DECEMBER 16, 1997
-----------------
(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(b)(3) or (4), check the following
box [ ].
Check the following box if a fee is being paid with the statement [ ].
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting
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beneficial ownership of five percent or less of such class.) (See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
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CUSIP No. 053762-10-0
- ----------------------------------------------------------------------------
(1) Name of Reporting Persons
Biotech Target S.A.
S.S. or I.R.S. Identification No. of Above Persons
Not applicable : Foreign Corporation
- ----------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) [ ]
of a Group* (b) [x]
- ----------------------------------------------------------------------------
(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
Panama
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Number of Shares (7) Sole Voting Power
Beneficially Owned 0 by Biotech Target S.A.
by Each Reporting
Person With -------------------------------------------
(8) Shared Voting Power
2,399,500 by Biotech Target, S.A.
(See Item 5)
-------------------------------------------
(9) Sole Dispositive Power
0 by Biotech Target S.A.
-------------------------------------------
(10) Shared Dispositive Power
2,399,500 by Biotech Target,
S.A.(See Item 5)
- ----------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,399,500 shares of common stock, par value of $.01 per share
(See Item 5)
- ----------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (9)
Excludes Certain Shares* [ ]
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- ----------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (9)
13.0%
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(14) Type of Reporting Person*
CO
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CUSIP No. 053762-10-0
- ----------------------------------------------------------------------------
(1) Name of Reporting Persons
BB Biotech AG
S.S. or I.R.S. Identification No. of Above Persons
Not applicable: Foreign Corporation
- ----------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) [ ]
of a Group* (b) [x]
- ----------------------------------------------------------------------------
(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
Switzerland
- ----------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 0 by BB Biotech AG
by Each Reporting
Person With ------------------------------------------
(8) Shared Voting Power
2,399,500 by BB Biotech AG
(See Item 5)
------------------------------------------
(9) Sole Dispositive Power
0 by BB Biotech AG
------------------------------------------
(10) Shared Dispositive Power
2,399,500 by BB Biotech AG
(See Item 5)
- ----------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,399,500 shares of common stock, par value of $.01 per share
(See Item 5)
- ----------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (9)
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Excludes Certain Shares* [ ]
- ----------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (9)
13.0%
- ----------------------------------------------------------------------------
(14) Type of Reporting Person*
HC, CO
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SCHEDULE 13D AMENDMENT NUMBER 1
EXPLANATORY NOTE
On October 16, 1997, BB Biotech AG ("BB Biotech"), a Swiss corporation,
and Biotech Target S.A., a Panamanian corporation ("Biotech Target") filed a
Schedule 13D with the Securities and Exchange Commission to disclose BB
Biotech's and Biotech Target's beneficial ownership of 13.0 percent of the
outstanding shares of common stock, $.01 par value per share (the "Common
Stock") of Transkaryotic Therapies, Inc., a Delaware corporation ("TKT"). This
Amendment Number 1 on Schedule 13D relates to the acquisition of an additional
217,500 shares of Common Stock, for an aggregate consideration of $8,192,725.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Biotech Target purchased 217,500 shares of Common Stock for an
aggregate consideration of $8,192,725. Biotech Target used capital to purchase
the shares of TKT Common Stock, which, in turn, was working capital supplied by
BB Biotech. BB Biotech is publicly traded on the Zurich Stock Exchange, and
its shareholders are both private and institutional investors.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) BB Biotech may be deemed to be the indirect beneficial owner
of the 2,399,500 shares of Common Stock held directly by Biotech Target as of
December 31, 1997, which represents approximately 13.0% of TKT's outstanding
shares of Common Stock. None of the shares of TKT Common Stock held by Biotech
Target are directly owned by BB Biotech. To the best knowledge of BB Biotech
and Biotech Target, no director or executive officer of BB Biotech or Biotech
Target owns any shares of TKT Common Stock.
(b) The number of shares of TKT Common Stock to which there is sole
power to vote or to direct the vote, shared power to vote or to direct the
vote, sole power to dispose or to direct the disposition, or shared power to
dispose or direct the disposition, is set forth in the cover pages hereof and
such information is incorporated herein by reference. BB Biotech, through its
ownership of Biotech Target, may be deemed to beneficially own the shares of
TKT Common Stock within the meaning of Regulation 13D under the Exchange Act,
and may be deemed to share with Biotech Target the power to vote, or direct the
vote of, and the power to dispose of or direct the disposition of, the
aggregate 2,399,500 shares of TKT Common Stock held by Biotech Target.
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(c) Biotech target has engaged in the following transactions
during the past sixty days:
<TABLE>
<CAPTION>
ACTION DATE NUMBER OF SHARES PRICE PER SHARE
<S> <C> <C> <C>
Bought 12/4/97 5,000 $21.46
Bought 12/8/97 50,000 $38.69
Bought 12/10/97 25,000 $38.75
Bought 12/11/97 100,000 $38.63
Bought 12/16/97 15,500 $36.00
Bought 12/18/97 22,500 $34.63
</TABLE>
Each of the listed transactions, unless otherwise noted, was completed on the
open market. As of December 31, 1997, BB Biotech and Biotech Target
beneficially own a total of 2,399,500 shares of the Common Stock, which
represent approximately 13% of the outstanding shares of Common Stock.
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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.
BB BIOTECH AG
Date: December 31, 1997 By: /s/ Hans-Joerg Graf
-------------------------
Name: Hans-Joerg Graf
Date: December 31, 1997 By: /s/ Dr. Victor Bischoff
-------------------------
Name: Dr. Victor Bischoff
BIOTECH TARGET, S.A.
Date: December 31, 1997 By: /s/ Dr. Andreas Bremer
-------------------------
Name: Dr. Andreas Bremer
Date: December 31, 1997 By: /s/ Dr. Anders Hove
------------------------
Name: Dr. Anders Hove
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EXHIBIT 4
JOINT FILING AGREEMENT
We, the undersigned, hereby express our agreement that the attached
Schedule 13D (including all amendments thereto) is filed on behalf of each of
the undersigned.
Date: December 31, 1997
BB BIOTECH AG
By: /s/ Hans-Joerg Graf
---------------------------
Name: Hans-Joerg Graf
By: /s/ Dr. Victor Bischoff
-------------------------
Name: Dr. Victor Bischoff
BIOTECH TARGET, S.A.
By: /s/ Dr. Andreas Bremer
-------------------------
Name: Dr. Andreas Bremer
By: /s/ Dr. Anders Hove
--------------------------
Name: Dr. Anders Hove
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