<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 1 TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
LA JOLLA PHARMACEUTICAL COMPANY
-------------------------------
(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
503 459 109
-----------
(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
MARCH 14, 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 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.
Page 1 of 4 Pages
<PAGE> 2
CUSIP No. 503 459 109
- ---------------------
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(1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
BB Biotech AG
Biotech Target, S.A.
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(2) Check the Appropriate Box if a Member (a) [ ]
of a Group (See Instructions) (b) [X]
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(3) SEC Use Only
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(4) Source of Funds (See Instructions)
WC
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(5) Check Box if Disclosure of Legal Proceedings [ ]
is Required Pursuant to Item 2(d) or 2(e)
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(6) Citizenship or Place of Organization
BB Biotech AG -- Switzerland
Biotech Target, S.A. -- Panama
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Number of Shares (7) Sole Voting Power
Beneficially Owned 0 by BB Biotech AG
by Each Reporting ---------------------------------
Person With (8) Shared Voting Power
3,071,000
---------------------------------
(9) Sole Dispositive Power
0 by BB Biotech AG
---------------------------------
(10) Shared Dispositive Power
3,071,000
---------------------------------
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
3,071,000 shares (See Item 5)
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(12) Check Box if the Aggregate Amount in Row (11) [ ]
Excludes Certain Shares (See Instructions)
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(13) Percent of Class Represented by Amount in Row (11)
17.7%
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(14) Type of Reporting Person (See Instructions)
BB Biotech AG -- HC, CO
Biotech Target, S.A. -- CO
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Page 2 of 4 Pages
<PAGE> 3
BB Biotech AG ("BB Biotech"), a Swiss corporation, and Biotech Target,
S.A., a Panamanian corporation ("Biotech Target") hereby amend their Schedule
13D as originally filed on October 26, 1995.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5(a), (b) and (c) of the Schedule 13D are amended to read as
follows:
(a) BB Biotech may be deemed to be the indirect beneficial owner
of the 3,071,000 shares of La Jolla Common Stock held directly by Biotech
Target as of July 21, 1997, which represents approximately 17.7% of the
outstanding shares of La Jolla Common Stock. No shares of La Jolla Common
Stock 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 La Jolla Common Stock.
(b) The number of shares of La Jolla 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 La
Jolla 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 3,071,000 shares of La Jolla Common Stock held by Biotech Target. BB
Biotech hereby expressly declares that the filing of this statement shall not
be construed as an admission that it is, for purposes of Section 13(d) of the
Exchange Act, the beneficial owner of the shares of La Jolla Common Stock held
by Biotech Target.
(c) A summary of transactions in shares of La Jolla Common Stock
effected by Biotech Target during the sixty days prior to the date of the event
requiring the filing of this report, and all subsequent transactions therein
through and including July 21, 1997, is attached hereto as Exhibit A and such
information is incorporated herein by reference.
Page 3 of 4 Pages
<PAGE> 4
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: July 21, 1997 By:/s/ Hans-Joerg Graf*
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Name: Hans-Joerg Graf
Date: July 21, 1997 By:/s/ Dr. Victor Bischoff*
------------------------
Name: Dr. Victor Bischoff
BIOTECH TARGET, S.A.
Date: July 21, 1997 By:/s/ Dr. Andreas Bremer
----------------------
Name: Dr. Andreas Bremer
Date: July 21, 1997 By:/s/ Dr. Anders Hove
-------------------
Name: Dr. Anders Hove
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* See power of attorney, attached as an exhibit 99.E to the Schedule 13D
relating to Biogen, Inc. filed with the Securities and Exchange Commission on
June 2, 1994, which exhibit is incorporated by reference herein.
Page 4 of 4 Pages
<PAGE> 5
Exhibit A
Exhibit A is hereby amended to add the following summary of
transactions in La Jolla Common Stock effected by Biotech Target during the
sixty days prior to the date of the event requiring the filing of this report,
and all subsequent transactions therein through and including July 21, 1997.
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
DATE TYPE OF TRANSACTION AND PURCHASE PRICE BENEFICIALLY OWNED PERCENT OF OUTSTANDING
NUMBER OF SHARES OF SHARES PER SHARE SHARES OWNED
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<S> <C> <C> <C> <C>
3/14/97 Purchase of 315,000 shares 4.93 2,615,000 15.13
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3/21/97 Purchase of 100,000 shares 5.00 2,715,000 15.7
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3/25/97 Purchase of 75,000 shares 5.00 2,790,000 16.1
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3/25/97 Purchase of 50,000 shares 4.88 2,840,000 16.4
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3/26/97 Purchase of 91,000 shares 5.00 2,931,000 16.9
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3/31/97 Purchase of 20,000 shares 4.97 2,951,000 17.0
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4/1/97 Purchase of 10,000 shares 5.03 2,961,000 17.1
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4/2/97 Purchase of 20,000 shares 5.03 2,981,000 17.2
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4/4/97 Purchase of 10,000 shares 5.03 2,991,000 17.3
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4/7/97 Purchase of 80,000 shares 5.09 3,071,000 17.7
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</TABLE>
