UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
QUESTCOR PHARMACEUTICALS INC.
(formerly Cypros Pharmaceuticals Corporation)
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
232808105
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(CUSIP Number)
John P. Mitchell, Esq.
Cahill Gordon & Reindel
80 Pine Street,
New York, NY 10005
(212) 701-3000
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
July 31, 2001
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(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 ss.240.13d-1(e), 240.13d-1(f) or 240.13d-(1)(g), check the
following box /X/.
*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).
SCHEDULE 13D
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CUSIP No. 232808105
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Sigma-Tau Finanziaria SpA
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Italy
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7 SOLE VOTING POWER
NUMBER OF 0
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 8,172,597
EACH
REPORTING
-------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
10 SHARED DISPOSITIVE POWER
8,172,597
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,172,597
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.90%
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14 TYPE OF REPORTING PERSON
CO
SCHEDULE 13D
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CUSIP No. 232808105
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Sigma-Tau Finance Holding S.A.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Luxembourg
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7 SOLE VOTING POWER
NUMBER OF 0
SHARES
-------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 8,172,597
EACH
REPORTING
-------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
10 SHARED DISPOSITIVE POWER
8,172,597
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,172,597
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.90%
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14 TYPE OF REPORTING PERSON
CO
SCHEDULE 13D
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CUSIP No. 232808105
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Claudio Cavazza
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Italy
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7 SOLE VOTING POWER
NUMBER OF 1,436,781
SHARES
-------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 8,172,597
EACH
REPORTING
-------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
1,436,781
10 SHARED DISPOSITIVE POWER
8,172,597
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,609,378
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.76%
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14 TYPE OF REPORTING PERSON
IN
SCHEDULE 13D
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CUSIP No. 232808105
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Paolo Cavazza
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF, AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Italy
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7 SOLE VOTING POWER
NUMBER OF 1,436,782
SHARES
-------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 8,172,597
EACH
REPORTING
-------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
1,436,782
10 SHARED DISPOSITIVE POWER
8,172,597
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,609,379
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.76%
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14 TYPE OF REPORTING PERSON
IN
Item 1. Security and Issuer.
-------------------
The class of equity securities to which this statement on Schedule 13D
(this "Statement") relates is the common stock, no par value (the "Common
Stock"), of Questcor Pharmaceuticals Inc., a California corporation
("Questcor"). The principal executive offices of Questcor are located at 3620
Whipple Road, Union City, California, 94587.
Item 2. Identity and Background.
-----------------------
This Statement is being filed jointly on behalf of Sigma-Tau Finanziaria
SpA, an Italian corporation ("Sigma Tau"), Sigma Tau Finance Holding S.A., a
Luxembourg corporation ("Holding"), Mr. Claudio Cavazza, President of Sigma Tau
("Mr. C. Cavazza") and Mr. Paolo Cavazza, Vice President and Managing Director
of Sigma Tau ("Mr. P. Cavazza", and collectively with Sigma Tau, Holding and Mr.
C. Cavazza, the "Reporting Parties").
Sigma Tau owns 100% of the capital stock of Holding. Mr. C. Cavazza owns
60% of Sigma Tau and Mr. P. Cavazza owns 40% of Sigma Tau.
The business address of Sigma Tau, Mr. C. Cavazza and Mr. P. Cavazza is Via
Sudafrica, 20, 00144 Rome, Italy. The principal business of Sigma Tau is as a
parent holding company whose principal assets consists of the common stock of
it's subsidiaries which form a fully integrated pharmaceutical company operating
in Europe, the United States and Africa. Mr. C Cavazza's principal occupation is
as an entrepreneur in the pharmaceutical business. Mr. P. Cavazza's principal
occupation is as an entrepreneur in the pharmaceutical business.
The business address of Holding is 19-21 Boulevard du Prince Henri, L-1724,
Luxembourg. Holding is a holding company whose principal assets consist of the
common stock of various entities mainly in the pharmaceutical industry.
The name, address, principal occupation or employment and citizenship of
each of the executive officers and directors of Sigma-Tau and Holding are set
forth in Schedule A hereto. Neither the Reporting Parties nor any of the persons
listed on Schedule A has been, during the last five years, (a) convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors) or
(b) 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.
Mr. C. Cavazza and Mr. P. Cavazza are citizens of Italy.
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
The Reporting Parties acquired 5,279,034 shares of Common Stock pursuant to
a Stock Purchase Agreement, dated July 31, 2001, in exchange for $3,500,000. The
funds necessary to purchase the Common Stock were obtained from working capital
of Holding.
Previosly, the Reporting Parties, pursuant to a Stock and Warrant Purchase
Agreement, dated April 5, 2001, acquired 2,873,563 shares of Common Stock in
exchange for $1,499,999.80 and a warrant (the "Warrant") for
2,873,563 shares of Common Stock in exchange for $100,000. The funds necessary
to purchase the Common Stock and the Warrant were obtained from working capital
of Holding. On July 26, 2001, the rights to exercise 1,436,781 shares of Common
Stock under The Warrant was assigned to Mr. C. Cavazza and the rights to
exercise 1,436,782 shares of Common Stock under The Warrant was assigned to Mr.
P. Cavazza. On July 30, 2001, Mr. C. Cavazza exercised his right under the
Warrant in exchange for $699,999.68. The funds necessary to exercise the Warrant
were obtained from personal funds of Mr. C. Cavazza. On July 30, 2001, Mr. P.
Cavazza exercised his right under the Warrant in exchange for $700,000.20. The
funds necessary to exercise the Warrant were obtained from personal funds of Mr.
P. Cavazza.
On April 3, 2001, Holding purchased 1,500 shares of Common Stock at the
price of $0.6166 per share. On April 11, 2001, Holding purchased 18,500 shares
of Common Stock at the price of $0.6000 per share. The funds necessary to
purchase such Common Stock were obtained from working capital of Holding. All
such transactions were made on the American Stock Exchange.
Item 4. Purpose of the Transaction.
--------------------------
The purpose of the transaction was to acquire an equity investment interest
in the Issuer.
None of the Reporting Parties has any present plans or proposals which
relate to or would result in any transaction, change or event specified in
clauses (a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of Questcor.
----------------------------------
(a) The number of Common Shares as to which Sigma Tau and Holding has the
sole power to vote or direct the vote is zero. The number of Common Shares as to
which Sigma Tau and Holding shares the power to vote or direct the vote is
8,172,597. The number of Common Shares as to which Sigma Tau and Holding has the
sole power to dispose or direct the disposition is zero. The number of Common
Shares as to which Sigma Tau and Holding shares the power to dispose or direct
the disposition is 8,172,597.
(b) The number of Common Shares as to which Mr. C. Cavazza has the sole
power to vote or direct the vote is 1,436,781. The number of Common Shares as to
which Mr. C. Cavazza shares the power to vote or direct the vote is 8,172,597.
The number of Common Shares as to which Mr. C. Cavazza has the sole power to
dispose or direct the disposition is 1,436,781. The number of Common Shares as
to which Mr. C. Cavazza shares the power to dispose or direct the disposition is
8,172,597.
(c) The number of Common Shares as to which Mr. P. Cavazza has the sole
power to vote or direct the vote is 1,436,782. The number of Common Shares as to
which Mr. P. Cavazza shares the power to vote or direct the vote is 8,172,597.
The number of Common Shares as to which Mr. P. Cavazza has the sole power to
dispose or direct the disposition is 1,436,782. The number of Common Shares as
to which Mr. P. Cavazza shares the power to dispose or direct the disposition is
8,172,597.
Except as set forth above, none of the Reporting Parties nor any of the persons
listed on Schedule A beneficially owns any other shares of Common Stock.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities
of Questcor.
--------------------------------------------------------------
Except as set forth in this Statement, to the best knowledge of the
Reporting Parties there are no other contracts, arrangements, understandings or
relationships (legal or otherwise) among the persons named in Item 2 and between
such persons and any person with respect to any securities of Questcor,
including but not limited to, transfer or voting of any of the securities of
Questcor, finders fees, joint ventures, loan or options arrangements, puts or
calls, guarantees of profits, division of profits or loss, or the giving or
withholding of proxies, or a pledge or contingency the occurrence of which would
give another person voting power over the securities of Questcor.
Item 7. Material to be Filed as Exhibits.
--------------------------------
A. Joint Filing Agreement dated August 7, 2001 by and among the Reporting
Parties.
Signatures
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement with respect to
Sigma-Tau Finanziaria SpA is true, complete and correct.
Dated: August 7, 2001
Sigma-Tau Finanziaria SpA
By: /s/ Piero Belletti
-------------------------------------------
Name: Piero Belletti
Title: Director
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement with respect to Sigma
Tau Finance Holding S.A. is true, complete and correct.
Dated: August 7, 2001
Sigma-Tau Finance Holding S.A
By: /s/ Maurizio Terenzi
--------------------------------------
Name: Maurizio Terenai
Title: Director
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement with respect to Claudio
Cavazza is true, complete and correct.
Dated: August 7, 2001
Claudio Cavazza
By: /s/ Claudio Cavazza
------------------------------------------
Name: Claudio Cavazza
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement with respect to Paolo
Cavazza is true, complete and correct.
Dated: August 7, 2001
Paolo Cavazza
By: /s/ Paolo Cavazza
--------------------------------------
Name: Paolo Cavazza
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative (other than an executive
officer or general partner of the filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement: provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13D with
respect to the Common Stock of Questcor Pharmaceuticals, Inc. dated as of August
7, 2001 is, and any amendments thereto (including amendments on Schedule 13D)
signed by each of the undersigned shall be, filed on behalf of each of us
pursuant to and in accordance with the provisions of Rule 13d-1(f) under the
Securities Exchange Act of 1934.
Dated: August 7, 2001
SIGMA TAU FINANZIARIA SPA
By: /s/Piero Belletti
---------------------------------
Name: Piero Belletti
Title: Director
Sigma-Tau Finance Holding S.A
Dated: August 7, 2001
By: /s/ Maurizio Terenzi
---------------------------------
Name: Maurizio Terenzi
Title: Director
Dated: August 7, 2001
CLAUDIO CAVAZZA
By: /s/ Claudio Cavazza
---------------------------------
Name: Claudio Cavazza
PAOLO CAVAZZA
Dated: August 7, 2001
By: /s/ Paolo Cavazza
---------------------------------
Name: Paolo Cavazza
Schedule A
Sigma-Tau Finanziaria SpA
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Title Citizenship
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Mr. Claudio Cavazza President Italian
via Sudafrica,20, Rome Italy-00144
Mr. Paolo Cavazza Vice President Italian
via Sudafrica,20, Rome Italy-00144 and Managing Director
Mr. Mario Artali Managing Director Italian
via Sudafrica,20, Rome Italy-00144
Mr. Antonio Nicolai Director Italian
via Sudafrica,20, Rome Italy-00144
Mr. Vittorio Ripa di Meana Director Italian
via Sudafrica,20, Rome Italy-00144
Mr. Mauro Bove Director Italian
via Sudafrica,20, Rome Italy-00144
Mr. Piero Belletti Director Italian
via Sudafrica,20, Rome Italy-00144
Sigma-Tau Finance Holding S.A
- ------------------------------
Title Citizenship
----- -----------
Mr. Federico Franzina President Luxembourg
19-21 Boulevard du Prince Henri
L-1724 Luxembourg
Mr. Antonio Nicolai Director Italian
via Sudafrica,20, Rome Italy-00144
Mr. Maurizio Terenzi Director Italian
via Sudafrica,20, Rome Italy-00144
Mr. Piero Belletti Director Italian
via Sudafrica,20, Rome Italy-00144
Mr. Gustave Stoffel Director Luxembourg
Avenue Pasteur,6
LP-2310 Luxembourg
M. me Maryse Santini Director Luxembourg
19-21 Boulevard du Prince Henri
L-1724 Luxembourg
M. Patrick Ehrhardt Director Luxembourg
19-21 Boulevard du Prince Henri
L-1724 Luxembourg