SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
-----------------------
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 3)1
ARADIGM CORPORATION
________________________________________________________________________________
(Name of Issuer)
Common Stock, no par value
________________________________________________________________________________
(Title of Class of Securities)
038508
________________________________________________________________________________
(CUSIP Number)
Ole Ramsby
Novo Nordisk A/S
Novo Alle
DK-2880 Bagsvaerd
Denmark
Tel No.: +45 4444 8888
________________________________________________________________________________
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 10, 2003
________________________________________________________________________________
(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
for other parties to whom copies are to be sent.
-----------------------
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 the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the th purpose of Section 18 of the Securities
Exchange Act of 1934 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
CUSIP No. 038508 Page 2 of 10 Pages
---------------------------------------- ------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Novo Nordisk A/S
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_|
(b)|_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
The Kingdom of Denmark
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,020,612
-----------------------------------------------
WITH
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED BY
EACH REPORTING PERSON 6,847,757
-----------------------------------------------
9 SOLE DISPOSITIVE POWER
1,020,612
-----------------------------------------------
10 SHARED DISPOSITIVE POWER
6,847,757
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,868,369 - See Item 5
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES |_|
CERTAIN SHARES*
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.7% - See Item 5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 10
Novo Nordisk A/S, a publicly quoted Danish company ("Buyer") hereby
amends and supplements its Report on Schedule 13D, originally filed on November
14, 2001 (as amended and supplemented, the "Schedule 13D") with respect to the
shares of Common Stock, no par value (the "Shares"), of Aradigm Corporation, a
California corporation (the "Issuer"). Unless otherwise indicated, each
capitalized term used but not defined herein shall have the meaning assigned to
such term in the Schedule 13D.
Item 1. Security and Issuer.
Item 2. Identity and Background.
Item 3. Source and Amount of Funds or Other Consideration.
Item 4. Purpose of Transaction.
The following additional paragraphs are added after the last paragraph
of Item 4 of the Schedule 13D:
The transactions pursuant to the Securities Purchase Agreement closed
on March 10, 2003. The Voting Agreement also terminated on March 10, 2003 in
accordance with its terms. As a result, Buyer is no longer deemed to have the
shared power to vote or direct the vote of the securities of the Issuer held by
the Other Stockholders.
Item 5. Interest in Securities of the Issuer.
(a) For the purposes of Rule 13d-3 promulgated under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), Buyer may be deemed to
beneficially own 7,868,369 Shares, or approximately 15.7% of the outstanding
Shares.
(b) By virtue of the relationship described in Item 2 of this Schedule
13D, Buyer may be deemed to have the sole power to vote or direct the vote and
sole power to dispose or direct the disposition of and vote of the 1,020,612
Shares held by it directly and the shared power to direct the disposition of
and vote of the 6,847,757 Shares held by NN Pharmaceuticals.
(c) None of Buyer, any of the persons named in Item 2 or any of the
persons set forth on Schedule A, has effected any transaction in the Common
Stock during the past 60 days.
(d) Inapplicable.
(e) Inapplicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
See response to Item 4.
Item 7. Material to be Filed as Exhibits.
Exhibit 1: Stock Purchase Agreement dated as of October 22, 2001
between the Issuer and Buyer.#
Exhibit 2: Voting Agreement dated as of February 10, 2003 between
Buyer and certain other parties set forth on Exhibit A to
such Voting Agreement.@
Page 3 of 10
# Previously filed as an exhibit to the original Schedule 13D filed
November 14, 2001.
@ Previously filed as an exhibit to Amendment No. 2 to the Schedule 13D
filed February 28, 2003.
Page 4 of 10
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: March 14, 2003
NOVO NORDISK A/S
By: /s/ Lars Rebien Sorensen
----------------------------------------
Name: Lars Rebien Sorensen
Title: Chief Executive Officer
By: /s/ Kare Schultz
----------------------------------------
Name: Kare Schultz
Title: Executive Vice President
Page 5 of 10
SCHEDULE A
DIRECTORS AND EXECUTIVE OFFICERS OF BUYER
The name, address, title, present principal occupation or employment of each of
the directors and executive officers of Buyer are set forth below. If no
address is given, the director's or officer's address is Novo Alle, DK-2880
Bagsvaerd, Denmark. The directors are designated with asterisks (*).
Name and Citizenship Principal Occupation and Address
--------------------------------------------------------------------------------
*Mads 0vlisen Chairman of the Board
Danish Novo Nordisk A/S
Novo Alle, 6B2.22
2880 Bagsvaerd
Denmark
--------------------------------------------------------------------------------
*Kurt Anker Nielsen Co-President & CEO
Danish Novo A/S
Krogsh0jvej 41, 9P2.05
2880 Bagsvaerd
Denmark
--------------------------------------------------------------------------------
*Jan Ulf Sigvard Johansson CEO/Businessman
Swedish Strandvagen 43, 4 tr.
114 56 Stockholm
Sweden
--------------------------------------------------------------------------------
*J0rgen Wedel 29 Winsor Way
Danish Weston, Massachusetts 02493
USA
--------------------------------------------------------------------------------
*Kurt Briner Director
Swiss c/o Ebsa sa
47, rue du 31 Decembre
CH-1211 Geneva 6
Switzerland
--------------------------------------------------------------------------------
*Niels Jacobsen President & CEO
Danish William Demant Holding A/S
Strandvejen 58
2900 Hellerup
Denmark
--------------------------------------------------------------------------------
*Anne Marie Handrup Kverneland Laboratory Assistant
Danish Novo Nordisk A/S
Laurentsvej 22, 7X
2880 Bagsvaerd
Denmark
--------------------------------------------------------------------------------
Page 6 of 10
Name and Citizenship Principal Occupation and Address
--------------------------------------------------------------------------------
*Johnny Henriksen Environmental Specialist
Danish Novo Nordisk A/S
Hummeltoftevej 49
Building SOC 1.18
2830 Virum
Denmark
--------------------------------------------------------------------------------
*Stig Str0baek Electrician
Danish Novo Nordisk, A/S
Laurentsvej 22, 7X
2880 Bagsvaerd
Denmark
--------------------------------------------------------------------------------
Lars Rebien S0rensen CEO
Danish Novo Nordisk A/S
--------------------------------------------------------------------------------
Jesper Brandgaard CFO
Danish Novo Nordisk A/S
--------------------------------------------------------------------------------
Kare Schultz Chief Operating Officer
Danish Novo Nordisk A/S
--------------------------------------------------------------------------------
Mads Krogsgaard Thompsen Chief Science Officer
Danish Novo Nordisk A/S
--------------------------------------------------------------------------------
Lars Almblom J0rgensen Chief of Staffs
Danish Novo Nordisk A/S
--------------------------------------------------------------------------------
Lise Kingo Executive Vice President
Danish Novo Nordisk A/S
--------------------------------------------------------------------------------
DIRECTORS AND EXECUTIVE OFFICERS OF NN NORTH AMERICA
The name, address, title, present principal occupation or employment of each of
the directors and executive officers of NN North America, are set forth below.
If no address is given, the director's or officer's address is 405 Lexington
Avenue, New York City, New York 10017. The directors are designated with
asterisks (*).
Name and Citizenship Principal Occupation and Address
--------------------------------------------------------------------------------
*James Shehan President and Secretary
USA Novo Nordisk of North America, Inc.
--------------------------------------------------------------------------------
*Susan Jackson Vice President Communications
USA Novo Nordisk Pharmaceuticals, Inc.
100 College Road West
Princeton, NJ 08540-7810
--------------------------------------------------------------------------------
*Phil Fornecker CFO and Treasurer
USA Novo Nordisk of North America, Inc.
--------------------------------------------------------------------------------
Page 7 of 10
Name and Citizenship Principal Occupation and Address
--------------------------------------------------------------------------------
*Ole F. Ramsby Senior Vice President Legal Affairs
Danish and General Counsel
Novo Nordisk A/S
Novo Alle
2880 Bagsvaerd
Denmark
--------------------------------------------------------------------------------
Mark Stolp Assistant Treasurer
USA Novo Nordisk of North America, Inc.
--------------------------------------------------------------------------------
Jerry Shilling Assistant Treasurer
USA Novo Nordisk of North America, Inc.
--------------------------------------------------------------------------------
Kevin Rowland Assistant Treasurer
USA Novo Nordisk of North America, Inc.
--------------------------------------------------------------------------------
Joan M. Schmidt Assistant Secretary
USA Novo Nordisk of North America, Inc.
--------------------------------------------------------------------------------
DIRECTORS AND EXECUTIVE OFFICERS OF NN PHARMACEUTICALS
The name, address, title, present principal occupation or employment of each of
the directors and executive officers of NN Pharmaceuticals, are set forth
below. If no address is given, the director's or officer's address is 100
College Road, Princeton, New Jersey 08540. The directors are designated with
asterisks (*).
Name and Citizenship Principal Occupation and Address
--------------------------------------------------------------------------------
*Martin Soeters President
The Netherlands Novo Nordisk Pharmaceuticals, Inc.
--------------------------------------------------------------------------------
*Kare Schultz Chief Operating Officer
Danish Novo Nordisk A/S
--------------------------------------------------------------------------------
*Barry Reit Vice President Regulatory Affairs
USA Novo Nordisk Pharmaceuticals, Inc.
--------------------------------------------------------------------------------
*Phil Fornecker Vice President Finance
USA Novo Nordisk Pharmaceuticals, Inc.
--------------------------------------------------------------------------------
*Jim C. Shehan President
USA Novo Nordisk of North America, Inc.
405 Lexington Avenue
New York City, NY 10017
--------------------------------------------------------------------------------
DIRECTORS AND EXECUTIVE OFFICERS OF NOVO A/S
The name, address, title, present principal occupation or employment of each of
the directors and executive officers of Novo A/S, are set forth below. If no
address is given, the director's or officer's
Page 8 of 10
address is Krogsh0jvej 41, DK-2880 Bagsvaerd, Denmark. The directors are
designated with asterisks (*).
Name and Citizenship Principal Occupation and Address
--------------------------------------------------------------------------------
*Palle Marcus Chairman of the Board of Directors
Danish Novo A/S
--------------------------------------------------------------------------------
*J0rgen Boe Lawyer
Danish Margrethevej 6
2960 Rungsted Kyst
Denmark
--------------------------------------------------------------------------------
*Jan Ulf Sigvard Johansson CEO/Businessman
Swedish Strandvagen 43, 4 tr.
114 56 Stockholm
Sweden
--------------------------------------------------------------------------------
*Hans Kristian Werdelin Member Board of Directors
Danish Novo A/S
--------------------------------------------------------------------------------
Henrik Gurtler Co-CEO
Danish Novo A/S
--------------------------------------------------------------------------------
Kurt Anker Nielsen Co-CEO
Danish Novo A/S
--------------------------------------------------------------------------------
DIRECTORS AND EXECUTIVE OFFICERS OF FOUNDATION
The name, address, title, present principal occupation or employment of each of
the directors and executive officers of the Foundation, are set forth below. If
no address is given, the director's or officer's address is Brogardsvej 70,
Post Box 71, DK-2820 Gentofte, Denmark. The directors are designated with
asterisks (*).
Name and Citizenship Principal Occupation and Address
--------------------------------------------------------------------------------
*Palle Marcus Chairman of the Board of Directors
Danish Novo Nordisk Foundation
--------------------------------------------------------------------------------
*J0rgen Boe Lawyer
Danish Margrethevej 6
2960 Rungsted Kyst
Denmark
--------------------------------------------------------------------------------
*Mads 0vlisen Member Board of Directors
Danish Novo Nordisk Foundation
Novo Nordisk A/S
Novo Alle, 6B2.22
2880 Bagsvaerd
Denmark
--------------------------------------------------------------------------------
Page 9 of 10
Name and Citizenship Principal Occupation and Address
--------------------------------------------------------------------------------
*Niels Borregaard Doctor
Danish Enevangen 83
3450 Aller0d
Denmark
--------------------------------------------------------------------------------
*Jan Eric Lindsten Doctor
Swedish Norr Malarstrand 78, 3 tr.
S-112 35 Stockholm
Sweden
--------------------------------------------------------------------------------
*Hans Ejvind Hansen Director
Danish Hegelsveg 12
2920 Charlottenlund
Denmark
--------------------------------------------------------------------------------
*Ulla Morin Technician
Danish Novo Nordisk Foundation
--------------------------------------------------------------------------------
*Soren Thuesen Pedersen Chemist
Danish Novo Nordisk Foundation
--------------------------------------------------------------------------------
*Stig Strobaek Electrician
Danish Novo Nordisk Foundation
--------------------------------------------------------------------------------
Gert Almind Frederiksen CEO
Danish Novo Nordisk Foundation
--------------------------------------------------------------------------------
Page 10 of 10