FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Ulys, LLC 		2. Issuer Name and Ticker or Trading Symbol

LEXICON PHARMACEUTICALS, INC./DE [ LXRX ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

750 LEXINGTON AVENUE, 30TH FLOOR 		3. Date of Earliest Transaction (MM/DD/YYYY)

3/19/2010
(Street)

NEW YORK, NY 10022
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   3/19/2010     P (1)    59296749   A $1.15   130137040   I   See Footnote   (2)
Common Stock   3/19/2010     P (3)    5190848   A $1.15   135327888   I   See Footnote   (2)
Common Stock   3/19/2010     P (4)    29021739   A $1.15   29021739   I   See Footnote   (5)
Common Stock   3/19/2010     P (6)    760870   A $1.15   29782609   I   See Footnote   (5)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  On March 19, 2010, Invus, L.P. agreed to purchase 59,296,749 shares of common stock of Lexicon Pharmaceuticals, Inc. (the "Issuer") from the Issuer. The purchase closed on March 19, 2010.
( 2)  131,346,780 of the reported shares are owned directly by Invus, L.P. and 3,891,108 of the reported shares are owned directly by Invus Public Equities, L.P. and subject to a voting agreement pursuant to which Invus Public Equities, L.P. agreed to vote its shares of common stock of the Issuer at the sole direction of Invus, L.P. Invus Advisors, L.L.C. is the general partner of Invus, L.P. Ulys, L.L.C. is the managing member of Invus Advisors, L.L.C. Raymond Debbane is the sole member of Ulys, L.L.C. Accordingly, each of Invus Advisors, L.L.C, Ulys, L.L.C. and Raymond Debbane may be deemed to be indirect beneficial owners of the reported securities. Each of Invus Advisors, L.L.C., Ulys, L.L.C and Raymond Debbane disclaims beneficial ownership of such securities, except to the extent of its or his pecuniary interest therein.
( 3)  On March 19, 2010, Invus, L.P. agreed to purchase 5,190,848 shares of common stock of the Issuer from the Issuer. The purchase closed on March 19, 2010.
( 4)  On March 19, 2010, Invus C.V. agreed to purchase 29,021,739 shares of common stock from the underwriters in a public offering of common stock of the Issuer. The purchase closed on March 19, 2010.
( 5)  The reported shares are owned directly by Invus C.V. Ulys, L.L.C. is the general partner of Invus C.V. Raymond Debbane is the sole member of Ulys, L.L.C. Accordingly, each of Ulys, L.L.C. and Raymond Debbane may be deemed to be indirect beneficial owners of the reported securities. Each of Ulys, L.L.C and Raymond Debbane disclaims beneficial ownership of such securities, except to the extent of its or his pecuniary interest therein.
( 6)  On March 19, 2010, Invus C.V. agreed to purchase 760,870 shares of common stock of the Issuer from the Issuer. The purchase closed on March 19, 2010.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Ulys, LLC
750 LEXINGTON AVENUE
30TH FLOOR
NEW YORK, NY 10022
X

Invus, L.P.
750 LEXINGTON AVENUE
30TH FLOOR
NEW YORK, NY 10022
X

Invus Advisors, L.L.C.
750 LEXINGTON AVENUE
30TH FLOOR
NEW YORK, NY 10022
X

Invus, CV
MARTEN MEESWEG 25
ROTTERDAM 3068 AV, P7 
X

DEBBANE RAYMOND
C/O THE INVUS GROUP, LLC
750 LEXINGTON AVENUE, 30TH FLOOR
NEW YORK, NY 10022
X


Signatures
/s/ Raymond Debbane, President, INVUS ADVISORS, L.L.C., its general partner for INVUS, L.P. 3/19/2009
** Signature of Reporting Person Date

/s/ Raymond Debbane, President for INVUS ADVISORS, L.L.C. 3/19/2009
** Signature of Reporting Person Date

/s/ Raymond Debbane, President, ULYS, L.L.C., its general partner for INVUS C.V. 3/19/2009
** Signature of Reporting Person Date

/s/ Raymond Debbane, President for ULYS, L.L.C. 3/19/2009
** Signature of Reporting Person Date

/s/ Raymond Debbane 3/19/2009
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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