SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Amendment No. 7(1)
ICN PHARMACEUTICALS, INC.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
44 8924 100
--------------------------------------------------------------------------------
(CUSIP Number)
Victor Lewkow, Esq. Walter M. Epstein, Esq.
Cleary Gottlieb Steen & Hamilton Davis & Gilbert LLP
One Liberty Plaza 1740 Broadway
New York, NY 10006 New York, New York 10019
(212) 225-2000 (212) 468-4800
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
October 3, 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 that 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.
(Continued on following pages)
(Page 1 of 5 Pages)
-----------------
(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 ("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>
CUSIP No. 44 8924 100 SCHEDULE 13D Page 2 of 5 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SSP - Special Situations Partners, Inc.
--------------------------------------------------------------------------------
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 ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
6,734,300(1)
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY NONE
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 6,734,300(1)
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
NONE
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,734,300(1)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.5%(1)
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IV
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) See Item 5
<PAGE>
The Statement in Schedule 13D, dated November 3, 1999 and filed on
November 15, 1999 by SSP - Special Situations Partners, Inc. ("SSP"), the
reporting person, with the Securities and Exchange Commission (the "SEC")
relating to the Common Stock $.01 par value per share of ICN Pharmaceuticals,
Inc., as amended by (i) Schedule 13D/A, Amendment No. 1, dated December 1, 1999
and filed by SSP with the SEC on December 6, 1999, (ii) Schedule 13D/A Amendment
No. 2 dated June 13, 2000 and filed by SSP with the SEC on June 14, 2000, (iii)
Schedule 13D/A Amendment No. 3 dated and filed by SSP with the SEC on June 28,
2000, (iv) Schedule 13D/A Amendment No. 4 dated July 24, 2000 and filed by SSP
with the SEC on July 27, 2000, (v) Schedule 13D/A Amendment No. 5 dated August
24, 2000 and filed by SSP with the SEC on August 28, 2000 and (vi) Schedule
13D/A Amendment No. 6 dated September 5, 2000 and filed by SSP with the SEC on
September 7, 2000 is hereby further amended by adding thereto the information
set forth below. Capitalized terms used and not otherwise defined herein shall
have the meanings ascribed to them in the Schedule 13D, unless the context
otherwise requires.
Item 4. Purpose of Transaction.
On October 3, 2000, pursuant to and in accordance with Section 220 of the
Delaware General Corporation Law and the common law of the State of Delaware,
SSP delivered a demand letter (a copy of the letter is attached hereto as
Exhibit 1, and is incorporated herein by reference) for inspection and copying
by SSP of certain documents and records of the Company.
Page 3 of 5
<PAGE>
Item 7. Material to be filed as Exhibits.
Attached hereto as Exhibit 1 is a copy of the demand letter dated October
3, 2000 of SSP to the Company.
Page 4 of 5
<PAGE>
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned hereby certifies that the information set forth in
this statement is true, complete and correct.
Dated: October 3, 2000 SSP - SPECIAL SITUATIONS PARTNERS, INC.
By: /s/ Eric Knight
---------------
Name: Eric Knight
Title: Managing Director
Page 5 of 5
