FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Shell William

(Last)(First)(Middle)
C/O TARGETED MEDICAL PHARMA, INC., 2980 BEVERLY GLEN CIRCLE, SUITE 301

(Street)
LOS ANGELESCA90077

(City)(State)(Zip)
2. Issuer Name and Ticker or Trading Symbol
Targeted Medical Pharma, Inc. [NONE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
CEO/Chief Scientific Officer
3. Date of Earliest Transaction (Month/Day/Year)
06/08/2012
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm 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. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction 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)
CodeVAmount(A) or (D)Price
Common Stock 06/08/2012 G  53,818 D$ 0 9,365,233 (1) I By trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction 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
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Warrants to Purchase Common Stock $ 3.38 08/19/2011(2) A  140,000  11/07/201111/07/2016 Common Stock 140,000 $ 0 140,000 I By trust
Warrants to Purchase Common Stock $ 3.38 10/17/2011 A  50,296  10/17/201110/17/2016 Common Stock 50,296 $ 0 50,296 I By trust
Warrants to Purchase Common Stock $ 3.38 10/20/2011 A  36,982  10/20/201110/20/2016 Common Stock 50,296 $ 0 36,982 I By trust
Warrants to Purchase Common Stock $ 3.38 11/08/2011 A  35,503  11/08/201111/08/2016 Common Stock 35,503 $ 0 35,503 I By trust
Warrants to Purchase Common Stock $ 3.38 11/22/2011 A  41,420  11/22/201111/22/2016 Common Stock 41,420 $ 0 41,420 I By trust
Warrants to Purchase Common Stock $ 3.38 12/07/2011 A  34,024  12/07/201112/07/2016 Common Stock 30,024 $ 0 30,024 I By trust
Warrants to Purchase Common Stock $ 3.38 01/04/2012 A  8,876  01/04/201201/04/2017 Common Stock 8,876 $ 0 8,876 I By trust
Warrants to Purchase Common Stock $ 3.38 01/18/2012 A  7,396  01/18/201201/18/2017 Common Stock 7,396 $ 0 7,396 I By trust
Warrants to Purchase Common Stock $ 3.38 01/19/2012 A  29,586  01/19/201201/19/2017 Common Stock 29,586 $ 0 29,586 I By trust
Warrants to Purchase Common Stock $ 3.38 01/31/2012 A  59,172  01/31/201201/31/2017 Common Stock 59,172 $ 0 59,172 I By trust
Warrants to Purchase Common Stock $ 3.38 02/01/2012 A  73,964  02/01/201202/01/2017 Common Stock 73,964 $ 0 73,964 I By trust
Warrants to Purchase Common Stock $ 3.38 02/15/2012 A  59,172  02/15/201202/15/2017 Common Stock 59,172 $ 0 59,172 I By trust
Warrants to Purchase Common Stock $ 3.38 02/29/2012 A  71,006  02/29/201202/28/2017 Common Stock 71,006 $ 0 71,006 I By trust
Warrants to Purchase Common Stock $ 3.38 03/15/2012 A  22,189  03/15/201203/15/2017 Common Stock 22,189 $ 0 22,189 I By trust
Warrants to Purchase Common Stock $ 3.38 03/28/2012 A  71,006  03/28/201203/28/2017 Common Stock 44,739 $ 0 44,739 I By trust
1. Name and Address of Reporting Person*
Shell William

(Last)(First)(Middle)
C/O TARGETED MEDICAL PHARMA, INC., 2980 BEVERLY GLEN CIRCLE, SUITE 301

(Street)
LOS ANGELESCA90077

(City)(State)(Zip)
1. Name and Address of Reporting Person*
Elizabeth Charuvastra & William Shell Family Trust

(Last)(First)(Middle)
3048 NICADA DRIVE

(Street)
LOS ANGELESCA90077

(City)(State)(Zip)
Explanation of Responses:
1. Includes 216,408 shares of common stock beneficially owned by family and friends of Dr. Shell over which the Elizabeth Charuvastra and William Shell Family Trust dated July 27, 2006 and Amended September 29, 2006 maintains voting and dispositive control.
2. 43,568 of the warrants were acquired on August 19, 2011, 23,237 of the warrants were acquired on September 1, 2011, 15,104 of the warrants were acquired on September 23, 2011 and the remaining 58,091 warrants were acquired on September 28, 2011.
/s/ William E. Shell06/12/2012
Elizabeth Charuvastra and William Shell Family Trust dated 9/26/2008 and Amended 9/29/2006, by /s/ William Shell, Trustee06/12/2012
** Signature of Reporting PersonDate
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).
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