-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DE3A1YIBDJk+DggenqjhsjvmFSsmWZ10PRJtjVGzS0VnsBhovaVxmJtXSGZ43/uN owq9k+wQH9TCZ3x1fsehFQ== 0000899140-97-000174.txt : 19970222 0000899140-97-000174.hdr.sgml : 19970222 ACCESSION NUMBER: 0000899140-97-000174 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970212 SROS: AMEX GROUP MEMBERS: CHRISTOPHER ZUELLIG GROUP MEMBERS: DANIEL ZUELLIG GROUP MEMBERS: DAVID ZUELLIG GROUP MEMBERS: PETER ZUELLIG GROUP MEMBERS: THOMAS ZUELLIG GROUP MEMBERS: ZATPACK INC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HALSEY DRUG CO INC/NEW CENTRAL INDEX KEY: 0000786947 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 110853640 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-38110 FILM NUMBER: 97527825 BUSINESS ADDRESS: STREET 1: 1827 PACIFIC ST CITY: BROOKLYN STATE: NY ZIP: 11233 BUSINESS PHONE: 7184677500 MAIL ADDRESS: STREET 2: 1827 PACIFIC ST CITY: BROOKLYN STATE: NY ZIP: 11233 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ZATPACK INC CENTRAL INDEX KEY: 0000943988 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: V8 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: SECRETARIAT ZUELLIG STREET 2: P O BOX 1041 CH-8640 CITY: RAPPERSWIL SWITZERLA STATE: V8 ZIP: 00000 MAIL ADDRESS: STREET 1: HARVEY SPERRY WILLKIE FARR GALLAGHER STREET 2: 153 EAST 53RD STREET CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 AMENDMENT NO. 1 TO SCHEDULE 13D/A 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1) HALSEY DRUG CO., INC. ---------------------- (Name of Issuer) COMMON STOCK, PAR VALUE $.01 ---------------------------- (Title of Class of Securities) 406369108 ------------ (CUSIP Number) Harvey L. Sperry, Esq. Willkie Farr & Gallagher One Citicorp Center 153 East 53rd Street New York, New York 10022 (212) 821-8000 -------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 29, 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. [ ] 2 SCHEDULE 13D CUSIP No. 406369108 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ZATPACK INC. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a[X] b[ ] 3. SEC USE ONLY 4. SOURCE OF FUNDS* WC,00 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] 6. CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands 7. SOLE VOTING POWER None (See Items 3 and 5 below) NUMBER OF 8. SHARED VOTING POWER SHARES BENEFICIALLY 639,227 (See Items 3 and 5 below) OWNED BY EACH 9. SOLE DISPOSITIVE POWER REPORTING PERSON None (See Items 3 and 5 below) WITH 10. SHARED DISPOSITIVE POWER 639,227 (See Items 3 and 5 below) 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 639,227 (See Items 3 and 5 below) 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.4% (See Item 5 below) 14. TYPE OF REPORTING PERSON* CO 3 SCHEDULE 13D CUSIP No. 406369108 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON CHRISTOPHER ZUELLIG 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a[X] 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 None (See Items 3 and 5 below) NUMBER OF 8. SHARED VOTING POWER SHARES BENEFICIALLY 639,227 (See Items 3 and 5 below) OWNED BY EACH 9. SOLE DISPOSITIVE POWER REPORTING PERSON None (See Items 3 and 5 below) WITH 10. SHARED DISPOSITIVE POWER 639,227 (See Items 3 and 5 below) 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 639,227 (See Items 3 and 5 below) 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.4% (See Item 5 below) 14. TYPE OF REPORTING PERSON* IN 4 SCHEDULE 13D CUSIP No. 406369108 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON DANIEL ZUELLIG 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a[X] 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 None (See Items 3 and 5 below) NUMBER OF 8. SHARED VOTING POWER SHARES BENEFICIALLY 639,227 (See Items 3 and 5 below) OWNED BY EACH 9. SOLE DISPOSITIVE POWER REPORTING PERSON None (See Items 3 and 5 below) WITH 10. SHARED DISPOSITIVE POWER 639,227 (See Items 3 and 5 below) 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 639,227 (See Items 3 and 5 below) 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.4% (See Item 5 below) 14. TYPE OF REPORTING PERSON* IN 5 SCHEDULE 13D CUSIP No. 406369108 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON DAVID ZUELLIG 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a[X] 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 None (See Items 3 and 5 below) NUMBER OF 8. SHARED VOTING POWER SHARES BENEFICIALLY 639,227 (See Items 3 and 5 below) OWNED BY EACH 9. SOLE DISPOSITIVE POWER REPORTING PERSON None (See Items 3 and 5 below) WITH 10. SHARED DISPOSITIVE POWER 639,227 (See Items 3 and 5 below) 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 639,227 (See Items 3 and 5 below) 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.4% (See Item 5 below) 14. TYPE OF REPORTING PERSON* IN 6 SCHEDULE 13D CUSIP No. 406369108 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON PETER ZUELLIG 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a[X] 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 None (See Items 3 and 5 below) NUMBER OF 8. SHARED VOTING POWER SHARES BENEFICIALLY 639,227 (See Items 3 and 5 below) OWNED BY EACH 9. SOLE DISPOSITIVE POWER REPORTING PERSON None (See Items 3 and 5 below) WITH 10. SHARED DISPOSITIVE POWER 639,227 (See Items 3 and 5 below) 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 639,227 (See Items 3 and 5 below) 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.4% (See Item 5 below) 14. TYPE OF REPORTING PERSON* IN 7 SCHEDULE 13D CUSIP No. 406369108 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON THOMAS ZUELLIG 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* a[X] 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 None (See Items 3 and 5 below) NUMBER OF 8. SHARED VOTING POWER SHARES BENEFICIALLY 639,227 (See Items 3 and 5 below) OWNED BY EACH 9. SOLE DISPOSITIVE POWER REPORTING PERSON None (See Items 3 and 5 below) WITH 10. SHARED DISPOSITIVE POWER 639,227 (See Items 3 and 5 below) 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 639,227 (See Items 3 and 5 below) 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.4% (See Item 5 below) 14. TYPE OF REPORTING PERSON* IN 8 This statement amends and restates in its entirety the information set forth in the Schedule 13D dated April 10, 1995 (the "Schedule 13D"), filed on behalf of the Reporting Persons (as defined below) and constitutes Amendment No. 1 to the Schedule 13D. Item 1. Security and Issuer. ------------------- This statement relates to the common stock, par value $0.01 per share (the "Common Stock"), of Halsey Drug Co., Inc. (the "Company"), which has its principal executive offices at 1827 Pacific Street, Brooklyn, New York 11233. Item 2. Identity and Background. ----------------------- (a) This statement is being filed by (i) Zatpack Inc., a British Virgin Islands Company ("Zatpack"), (ii) Christopher Zuellig, (iii) Daniel Zuellig, (iv) David Zuellig, (v) Peter Zuellig, and (vi) Thomas Zuellig. Such persons are collectively referred to herein as the "Reporting Persons." (b) Zatpack is a company that was formed to enter into the transactions described herein. The address of the principal business and office of Zatpack is c/o Secretariat Zuellig, P.O. Box 1041, CH-8640 Rapperswil, Switzerland. Information regarding the identity and background of the directors and executive officers of Zatpack is set forth on Schedule I hereto, which is incorporated by reference in response to this Item 2. (c) Christopher, Daniel, David, Peter and Thomas Zuellig (collectively, the "Zuelligs") together own 100% of the capital stock of Zatpack and, together with Zatpack, may be deemed a "group" within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amended (the "1934 Act") and, as the persons ultimately in control of Zatpack, may be deemed "beneficial owners" of securities, including Common Stock, held for the account of Zatpack. The principal occupations and business addresses of each of the Zuelligs and the name and principal business of the organizations where such occupations are conducted are set forth on Schedule II hereto, which is incorporated by reference in response to this Item 2. Each of the Zuelligs is a citizen of Switzerland. (d) None of the Reporting Persons nor, to the best of their knowledge, any of the directors and executive officers referred to in paragraphs (b) above has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) None of the Reporting Persons nor, to the best of their knowledge, any of the directors or executive officers referred to in paragraphs (b) above has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of 9 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. ------------------------------------------------- As of March 30, 1995, Zatpack entered into an Agreement with the Company (the "Agreement"). The Agreement provided for, among other things, the purchase by Zatpack of 500,000 shares of Common Stock (the "Shares") and the issuance and delivery to Zatpack of a convertible promissory note due December 1, 1997 in the aggregate principal amount of $1,292,242 (the "Note"), which Note was, at the time of issuance, convertible, at the sole option of the holder thereof, into 516,897 shares of Common Stock (plus any additional shares of Common Stock that are issued in exchange for accrued but unpaid interest on the Note) (collectively, the "Conversion Shares") at an effective conversion price of $2.50 per share, such number of shares and conversion price being subject to adjustment as provided in the Note. As of February 1, 1997, the adjusted conversion price was $2.39 and the Note was convertible into approximately 639,227 shares of Common Stock, subject to further adjustment for antidilution and for additional shares of Common Stock issuable upon conversion of the Note in lieu of accrued and unpaid interest. At maturity the Note will be convertible into approximately 681,737 shares of Common Stock, subject to adjustment for antidilution. Under the Agreement, Halsey agreed to issue and deliver to Zatpack (i) the Shares in exchange for consideration having an aggregate value of $1,000,000, which consideration includes (x) the delivery to Houba, Inc., a wholly owned subsidiary of the Company ("Houba"), of certain inventory of methacycline hcl having an agreed upon value of $647,288, (y) 300 shares of Class B Common Stock of Indiana Fine Chemicals Corporation, a Delaware corporation ("IFC"), having an agreed upon value of $150,000 and (z) the cancellation and extinguishment of a portion of certain account receivables owing to Zuellig Botanicals, Inc. ("Botanicals") from Cenci Powder Products, Inc., a 51%-owned subsidiary of Halsey ("Cenci"), in the amount of $202,712 and (ii) the Note in exchange for consideration having an aggregate value of $1,292,242, which consideration includes (w) the cancellation and extinguishment of $459,218 in indebtedness owing from IFC to Zuellig Group N.A., Inc. ("Zuellig"), (x) the cancellation and extinguishment of (1) $130,559 in indebtedness owing from Cenci to Botanicals and (2) a portion of certain account receivables owing to Botanicals from Cenci in the amount of $111,097, (y) the cancellation and extinguishment of account receivables owing to ZetaPharm Inc. from Houba in the amount of $326,963, and (z) the cancellation and extinguishment of indebtedness owing from Houba to Zuellig in the amount of $264,405. Item 4. Purpose of Transaction. ---------------------- The Reporting Persons acquired the Shares and the Conversion Shares for the purpose of making an equity investment in the Company. The Reporting Persons may from time to time 10 acquire additional shares of Common Stock or dispose of shares of Common Stock through open market or privately negotiated transactions depending on existing market conditions and other considerations. Except as set forth herein, the Reporting Persons held the Shares and are holding the Conversion Shares solely for investment and none of the Reporting Persons nor, to the best of their knowledge, any person set forth on Schedule I hereto, has any plans or proposals with respect to any material change in the Company's business or corporate structure or, generally, any other action referred to in instructions (a) through (j) of Item 4 of Schedule 13D. Item 5. Interest in Securities of the Issuer. ------------------------------------ (a) As of the date of this Report, Zatpack is the beneficial owner of approximately 639,227(1) shares of Common Stock, all of which represent shares of Common Stock that Zatpack has the right to acquire upon conversion of the Note. By reason of the regulations promulgated under Section 13(d) of the 1934 Act, the Zuelligs may be deemed to own beneficially the shares of Common Stock beneficially owned by Zatpack. The Conversion Shares beneficially owned by Zatpack represent approximately 5.4% of the outstanding shares of Common Stock. The percentage used in this paragraph 5(a) is calculated based upon the 11,830,630 shares of Common Stock deemed outstanding at the date hereof, derived from the sum of (i) the 11,191,403 shares of Common Stock outstanding as of November 12, 1996 reported by the Company in its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 1996 and (ii) the approximately 639,227(1) shares of Common Stock issuable upon conversion of the Note. (b) The Reporting Persons share the power to vote or to direct the vote, and share the power to dispose or to direct the disposition of the Conversion Shares. (c) Pursuant to the Agreement, the Company issued the Shares to Zatpack and executed the Note on March 30, 1995, the date the Agreement became effective in accordance with its terms. Except as set forth on Schedule III hereto, none of the Reporting Persons nor, to the best of their knowledge, any person listed on Schedule I, has effected any transactions in the Common Stock during the preceding 60 days. (d) Except as set forth in this Item 5, no person other than each respective record owner referred to herein of securities is known to have the right to receive or the power to direct the receipt of dividends from or the proceeds of sale of such securities. __________________________ (1) Based on the amount of the Note plus accrued and unpaid interest thereon through February 1, 1997. 11 (e) Not applicable. Item 6. Contracts, Arrangements, Understanding or Relationships with Respect to Securities of the Issuer. -------------------------------------------------------------------- The Shares were purchased pursuant to the Agreement described more fully in Item 3 above, dated as of March 30, 1994, which Agreement is filed as an exhibit to this Schedule 13D. Pursuant to the Agreement, the Company issued and delivered the Note described more fully in Item 3 above. The Note is filed as an exhibit to this Schedule 13D. Item 7. Material to be Filed as Exhibits. -------------------------------- Exhibit 1. Joint Acquisition Statement Pursuant to Rule 13d-1(f)(1). Exhibit 2. Power of Attorney, dated April 5, 1995, granted by Zatpack Inc. in favor of Harvey L. Sperry. Exhibit 3. Power of Attorney, dated April 4, 1995, granted by Christopher Zuellig in favor of Harvey L. Sperry. Exhibit 4. Power of Attorney, dated April 5, 1995, granted by Daniel Zuellig in favor of Harvey L. Sperry. Exhibit 5. Power of Attorney, dated April 5, 1995, granted by David Zuellig in favor of Harvey L. Sperry. Exhibit 6. Power of Attorney, dated April 3, 1995, granted by Peter Zuellig in favor of Harvey L. Sperry. Exhibit 7. Power of Attorney, dated April 3, 1995, granted by Thomas Zuellig in favor of Harvey L. Sperry. Exhibit 8. Agreement, dated as of March 30, 1995, by between the Company and Zatpack. Exhibit 9. Convertible Note, dated December 1, 1994, issued by the Company in favor of Zatpack. 12 SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: February 12, 1997 ZATPACK, INC. By:/s/ Harvey L. Sperry ------------------------------- Harvey L. Sperry, Attorney-in-Fact CHRISTOPHER ZUELLIG By:/s/ Harvey L. Sperry ------------------------------- Harvey L. Sperry, Attorney-in-Fact DANIEL ZUELLIG By:/s/ Harvey L. Sperry ------------------------------- Harvey L. Sperry, Attorney-in-Fact DAVID ZUELLIG By:/s/ Harvey L. Sperry ------------------------------- Harvey L. Sperry, Attorney-in-Fact PETER ZUELLIG By:/s/ Harvey L. Sperry ------------------------------- Harvey L. Sperry, Attorney-in-Fact THOMAS ZUELLIG By:/s/ Harvey L. Sperry ------------------------------- Harvey L. Sperry, Attorney-in-Fact 13 SCHEDULE I DIRECTORS AND EXECUTIVE OFFICERS OF ZATPACK INC. Name/Title/Citizenship Principal Occupation Business Address - ---------------------- -------------------- ------------------- Christopher Zuellig Associate-McKinsey & McKinsey & Company Director/ Company, an Unterwerkstrasse 3 Switzerland international management CH-8065 consulting firm Zurich, Switzerland David Zuellig/ Executive of Zuellig Zuellig Insurance Director/ Insurance Holdings Ltd., Holdings Ltd. Switzerland a Company engaged in the 1 Scotts Road No. 24-08 insurance brokerage Shaw Centre business Singapore 0922 14 SCHEDULE II PRINCIPAL OCCUPATIONS/BUSINESS ADDRESSES Name Principal Occupation Business Address ---- -------------------- ---------------- Christopher Zuellig Associate-McKinsey & McKinsey & Company Company, an international Unterwerkstrasse 3 management consulting firm CH-8065 Zurich, Switzerland Daniel Zuellig Executive of Marsman & Co., Marsman & Co. Inc. Inc., a company engaged in Marsman Pharma Building the business of selling 2246 Chino Roces Avenue pharmaceutical products Makati, Metro Manila Philippines David Zuellig Executive of Zuellig Zuellig Insurance Insurance Holdings Ltd., Holdings Ltd. a company engaged in the 1 Scotts Road No. 24-08 insurance brokerage business Shaw Centre Singapore 0922 Peter Zuellig Co-Managing Director of c/o Secretariat Zuellig Interpacific Holding S.A. & P.O. Box 1041 Co., a holding company CH-8640 Rapperswil which, through its Switzerland subsidiaries, is engaged in a number of businesses including the sale of pharmaceutical products and the processing and sale of animal feeds Thomas Zuellig Co-Managing Director of c/o Secretariat Zuellig Interpacific Holding S.A. & P.O. Box 1041 Co., a holding company CH-8640 Rapperswil which, through its Switzerland subsidiaries, is engaged in a number of businesses including the sale of pharmaceutical products and the processing and sale of animal feeds 15 SCHEDULE III RECENT TRANSACTIONS IN THE COMMON STOCK OF HALSEY DRUG CO., INC. NATURE OF NUMBER OF TRADE DATE TRANSACTION SHARES PRICE PER SHARE - ---------- ----------- --------- --------------- 02/07/97 Sale 210,300 5.13 02/06/97 Sale 2,500 5.38 02/05/97 Sale 30,100 5.27 02/04/97 Sale 61,900 5.30 01/31/97 Sale 11,200 5 01/30/97 Sale 63,400 5 01/29/97 Sale 68,400 5 01/15/97 Sale 1,700 5.75 01/14/97 Sale 1,500 5.75 01/13/97 Sale 4,000 5.75 01/07/97 Sale 10,000 5.87 01/07/97 Sale 5,000 5.75 01/06/97 Sale 10,000 5.75 11/13/96 Sale 5,000 4.25 11/12/96 Sale 5,000 4.25 11/11/96 Sale 5,000 4.25 11/08/96 Sale 5,000 4.31 All of the above transactions were effected by Zatpack Inc. EXHIBIT INDEX Exhibit Page No. - ------- -------- Exhibit 1. Joint Acquisition Statement Pursuant * to Rule 13d-1(f)(1). Exhibit 2. Power of Attorney, dated April 5, * 1995, granted by Zatpack Inc. in favor of Harvey L. Sperry. Exhibit 3. Power of Attorney, dated April 4, * 1995, granted by Christopher Zuellig in favor of Harvey L. Sperry. Exhibit 4. Power of Attorney, dated April 5, * 1995, granted by Daniel Zuellig in favor of Harvey L. Sperry. Exhibit 5. Power of Attorney, dated April 5, * 1995, granted by David Zuellig in favor of Harvey L. Sperry. Exhibit 6. Power of Attorney, dated April 3, * 1995, granted by Peter Zuellig in favor of Harvey L. Sperry. Exhibit 7. Power of Attorney, dated April 3, * 1995, granted by Thomas Zuellig in favor of Harvey L. Sperry. Exhibit 8. Agreement, dated as of March 30, 1995, * by and between the Company and Zatpack. Exhibit 9. Convertible Note, dated December 1, 1994, * issued by the Company in favor of Zatpack. - ------------------ * Previously filed in paper format. -----END PRIVACY-ENHANCED MESSAGE-----