UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
Idenix Pharmaceuticals, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
45166R 20 4
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(CUSIP Number)
Robert E. Pelzer, Esq. Morton A. Pierce, Esq.
Novartis Pharma AG Dewey Ballantine LLP
Lichtstrasse 35 1301 Avenue of the Americas
CH-4002, Basel Switzerland New York, New York 10019
41-61-324-1111 (212) 259-8000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
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October 31, 2005
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(Date of Event which Requires Filing of this Statement)
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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 for other parties
to whom copies are to be sent.
The information required on this cover page shall not be deemed to be "filed"
for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Exchange
Act") or otherwise subject to the liabilities of that section of the Exchange
Act but shall be subject to all other provisions of the Exchange Act (however,
see the Notes).
Page 1 of 10
========
-------- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (entities only)*
NOVARTIS AG
-------- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
-------- ---------------------------------------------------------------------------------------------------------------------------
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
-------- ---------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES
BENEFICIALLY --------- -----------------------------------------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 31,295,870
PERSON --------- -----------------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
0
--------- -----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
31,295,870
-------------------------- ---------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,295,870
-------------------------- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
-------------------------- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
56.26%
-------------------------- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------------------------- ---------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS
Page 2 of 10
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (entities only)*
NOVARTIS PHARMA AG
-------- ---------------------------------------------------------------------------------------------------------------------------
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 ITEMS 2(d) OR 2(e) [ ]
-------- ---------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
SWITZERLAND
-------------------------- --------- -----------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES
BENEFICIALLY --------- -----------------------------------------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 31,295,870
PERSON
WITH --------- -----------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
----------------------------------- -----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
31,295,870
----------------------------------- -----------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,295,870
-------------------------- ---------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
-------------------------- ---------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
56.26%
-------------------------- ---------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------------------------- ---------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS
Page 3 of 10
ITEM 1. SECURITY AND ISSUER
This Amendment No. 2 to Schedule 13D (this "Amendment") amends the initial
statement on Schedule 13D filed with the Securities and Exchange Commission on
July 27, 2004 and amended on September 7, 2005 (the "Original Schedule 13D")
relating to Common Stock (the "Common Stock"), par value $0.001 per share of
Idenix Pharmaceuticals, Inc., a Delaware corporation (the "Company"). The
address of the Company's principal executive offices is 60 Hampshire Street,
Cambridge, Massachusetts 02139.
Except as otherwise described herein, the information contained in the Original
Schedule 13D remains in effect. Capitalized terms used but not defined in this
Amendment shall have the respective meanings set forth with respect thereto in
the Original Schedule 13D.
ITEM 2. IDENTITY AND BACKGROUND
No change except as described below.
(a) - (c) and (f) The name, business address, present principal occupation or
employment and citizenship of the executive officers and members of the Board of
Directors of each of the Reporting Persons is set forth on Schedule I hereto and
is incorporated herein by reference.
(d) and (e) Neither the Reporting Persons nor, to the best knowledge of each of
them, any of the persons listed on Schedule I hereto with respect to each such
Reporting Person during the last five years, (i) has been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors) or
(ii) was a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
No change except as described below.
On October 31, 2005, Novartis Pharma acquired 3,939,131 shares of Common Stock
for $20.61 per share or an aggregate of $81,185,489.91 in a registered public
offering by the Company pursuant to Novartis Pharma's stock subscription rights.
The source of funds for this acquisition was Novartis Pharma's working capital.
ITEM 4. PURPOSE OF TRANSACTION
No change.
Page 4 of 10
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
No change except as described below.
(a) and (b) Novartis is the beneficial owner of 31,295,870 shares of Common
Stock representing 56.26% of the outstanding shares of Common Stock, all of
which shares are owned directly by Novartis Pharma. Novartis has shared power to
vote or direct the vote and shared power to dispose or to direct the disposition
of all shares of Common Stock beneficially owned by it.
Novartis Pharma is the record and beneficial owner of 31,295,870 shares of
Common Stock, representing 56.26% of the outstanding shares of Common Stock.
Novartis Pharma has shared power to vote or direct the vote and shared power to
dispose or to direct the disposition of all shares of Common Stock beneficially
owned by it.
To the best knowledge of each of the Reporting Persons, none of the persons
listed on Schedule I hereto with respect to such Reporting Person is the
beneficial owner of any shares of Common Stock.
(c) Except for the transactions described in Item 3 neither the Reporting
Persons nor, to the best knowledge of each of the Reporting Persons, any of the
persons listed on Schedule I has engaged in any transaction in the Common Stock
in the past 60 days.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
No change.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
No change.
Page 5 of 10
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.
Date: November 2, 2005
NOVARTIS AG
By: /s/ Peter Kornicker
--------------------------------
Name: Peter Kornicker
Title: Authorized Signatory
By: /s/ Thomas Huggenberger
--------------------------------
Name: Thomas Huggenberger
Title: Authorized Signatory
NOVARTIS PHARMA AG
By: /s/ Matthias Runge
---------------------------------
Name: Matthias Runge
Title: Head of Legal Ophtha and
Oncology Europe
By: /s/ Joseph E. Mamie
---------------------------------
Name: Joseph E. Mamie
Title: Head Operational Treasury
Page 6 of 10
SCHEDULE I
DIRECTORS AND EXECUTIVE OFFICERS OF
NOVARTIS AND NOVARTIS PHARMA
DIRECTORS AND EXECUTIVE OFFICERS OF NOVARTIS
The name, address, citizenship and present principal occupation or employment of
each of the directors and executive officers of Novartis are set forth below.
Unless otherwise indicated below, each occupation set forth opposite an
individual's name refers to employment with Novartis.
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Name, Function and Business Address Citizenship Principal Occupation
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Daniel Vasella Switzerland Chairman of the Board of Directors,
Chairman of the Board of Directors, Chief Executive Officer
Chief Executive Officer
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Prof. Dr. Helmut Sihler Austria Retired
Vice Chairman of the Board of Directors
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Hans-Jorg Rudloff Germany Chairman of the Executive Committee of
Vice Chairman of the Board Barclays Capital
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Birgit Breuel Germany Consultant
Director
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Prof. Dr. Peter Burckhardt Switzerland Head of Medical Service at the
Director University Hospital of Lausanne
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Prof. Dr. Srikant Datar India Senior Associate Dean for Executive
Director Education at Harvard Business School
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
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Page 7 of 10
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Name, Function and Business Address Citizenship Principal Occupation
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
William W. George USA Senior Lecturer at Harvard Business
Director School
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Alexandre F. Jetzer Switzerland Consultant
Director
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Pierre Landoldt Switzerland President of the Sandoz family foundation
Director
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Dr. Ulrich Lehner Germany President and Chief Executive Officer of
Director Henkel KGaA
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Dr. Wendelin Wiedeking Germany Chairman and Chief Executive Officer of
Director Porsche AG
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Prof. Dr. Rolf M. Zinkernagel Switzerland Professor and Director of the Institute
Director of Experimental Immunology at the
c/o Novartis AG University of Zurich
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Dr. Raymund Breu Switzerland Chief Financial Officer
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Dr. Urs Barlocher Switzerland Head of Legal and General Affairs
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Juergen Brokatzky-Geiger Germany Head of Human Resources
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Page 8 of 10
----------------------------------------------------- --------------------- ------------------------------------------
Name, Function and Business Address Citizenship Principal Occupation
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Paul Choffat Switzerland Head of Novartis Consumer Health
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Thomas Ebeling Germany Head of Novartis Pharma
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Prof. Marc C. Fishman, Md. USA Head of Pharmaceuticals Research
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
DIRECTORS AND EXECUTIVE OFFICERS OF NOVARTIS PHARMA
The name, address, citizenship and present principal occupation or employment of
each of the directors and executive officers of Novartis Pharma are set forth
below. Unless otherwise indicated below, each occupation set forth opposite an
individual's name refers to employment with Novartis Pharma.
----------------------------------------------------- --------------------- ------------------------------------------
Name, Function and Business Address Citizenship Principal Occupation
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Daniel Vasella Switzerland Chairman of the Board of Directors and
Chairman of the Board of Directors Chief Executive Officer of Novartis AG
Chief Executive Officer
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
----------------------------------------------------- --------------------- ------------------------------------------
Dr. Raymund Breu Switzerland Member of the Board of Directors
Director
c/o Novartis AG
Lichstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
Thomas Ebeling Germany Member of the Board of Directors, Head
Director of Management
Head of Management
c/o Novartis AG
Lichtstrasse 35
CH-4002 Basel, Switzerland
----------------------------------------------------- --------------------- ------------------------------------------
Page 9 of 10