SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)
PHARMERICA CORPORATION
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(Name of Issuer)
Common Stock, $0.01 par value per share
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(Title of Class of Securities)
71714F104
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(CUSIP Number)
December 31, 2007
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G/A is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
(Page 1 of 15 Pages)
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*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 purposes 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).
CUSIP No. 71714F104 13G/A Page 2 of 15 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lone Spruce, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ____________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
14,648
OWNED BY ____________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ____________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
14,648
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
14,648
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.1%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 71714F104 13G/A Page 3 of 15 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lone Balsam, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ____________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
32,144
OWNED BY ____________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ____________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
32,144
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
32,144
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.1%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 71714F104 13G/A Page 4 of 15 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lone Sequoia, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ____________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
26,855
OWNED BY ____________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ____________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
26,855
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
26,855
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.1%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 71714F104 13G/A Page 5 of 15 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lone Pine Associates LLC
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ____________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
73,647
OWNED BY ____________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ____________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
73,647
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
73,647
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.2%
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(12) TYPE OF REPORTING PERSON **
OO
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 71714F104 13G/A Page 6 of 15 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lone Pine Capital LLC
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ____________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
333,250
OWNED BY ____________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ____________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
333,250
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
333,250
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
1.1%
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(12) TYPE OF REPORTING PERSON **
IA
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 71714F104 13G/A Page 7 of 15 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Stephen F. Mandel, Jr.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ____________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
406,897
OWNED BY ____________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ____________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
406,897
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
406,897
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
1.3%
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(12) TYPE OF REPORTING PERSON **
IN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 71714F104 13G/A Page 8 of 15 Pages
Item 1(a). Name of Issuer:
PHARMERICA CORPORATION (the "Issuer").
Item 1(b). Address of Issuer's Principal Executive Offices:
1901 Campus Place, Louisville, KY 40299
Item 2(a). Name of Person Filing:
This statement is filed by:
(i) Lone Spruce, L.P., a Delaware limited partnership ("Lone Spruce"),
with respect to the Common Stock (defined in Item 2(d) below)
directly owned by it;
(ii) Lone Balsam, L.P., a Delaware limited partnership ("Lone Balsam"),
with respect to the Common Stock directly owned by it;
(iii) Lone Sequoia, L.P., a Delaware limited partnership ("Lone
Sequoia"), with respect to the Common Stock directly owned by it;
(iv) Lone Pine Associates LLC, a Delaware limited liability company
("Lone Pine"), with respect to the Common Stock directly owned by
Lone Spruce, Lone Balsam and Lone Sequoia;
(v) Lone Pine Capital LLC, a Delaware limited liability company ("Lone
Pine Capital"), which serves as investment manager to Lone
Cypress, Ltd. ("Lone Cypress") a Cayman Islands exempted company,
with respect to the Common Stock directly owned Lone Cypress;
(vi) Stephen F. Mandel, Jr. ("Mr. Mandel"), with respect to the Common
Stock directly owned by each of Lone Spruce, Lone Balsam, Lone
Sequoia and Lone Cypress.
The foregoing persons are hereinafter sometimes
collectively referred to as the "Reporting Persons". Any
CUSIP No. 71714F104 13G/A Page 9 of 15 Pages
disclosures herein with respect to persons other than the Reporting
Persons are made on information and belief after making inquiry to the
appropriate party.
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the business office of each of the Reporting Persons is Two
Greenwich Plaza, Greenwich, Connecticut 06830.
Item 2(c). Citizenship:
Lone Spruce, Lone Balsam, and Lone Sequoia are limited partnerships
organized under the laws of the State of Delaware. Lone Pine Associates and Lone
Pine Capital are limited liability companies organized under the laws of the
State of Delaware. Mr. Mandel is a United States citizen.
Item 2(d). Title of Class of Securities:
Common Stock, $0.01 par value per share (the "Common Stock")
Item 2(e). CUSIP Number:
71714F104
CUSIP No. 71714F104 13G/A Page 10 of 15 Pages
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or
(c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the
Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of
the Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940,
(e) [ ] Investment Adviser in accordance with Rule
13d-1(b)(1)(ii)(E),
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance
with Rule 13d-1(b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act,
(i) [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act of 1940,
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check the box. [X]
Item 4. Ownership.
A. Lone Spruce, L.P.
(a) Amount beneficially owned: 14,648
(b) Percent of class: 0.1% The percentages used herein and in the
rest of Item 4 are calculated based upon the 30,364,247,shares of Common Stock
issued and outstanding as of November 2, 2007, as reported in the Company's Form
10-Q for the quarterly period ended September 30, 2007, filed on November 9,
2007.
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 14,648
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
14,648
CUSIP No. 71714F104 13G/A Page 11 of 15 Pages
B. Lone Balsam, L.P.
(a) Amount beneficially owned: 32,144
(b) Percent of class: 0.1%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 32,144
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
32,144
C. Lone Sequoia, L.P.
(a) Amount beneficially owned: 26,855
(b) Percent of class: 0.1%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 26,855
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
26,855
D. Lone Pine Associates LLC
(a) Amount beneficially owned: 73,647
(b) Percent of class: 0.2%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 73,647
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
73,647
CUSIP No. 71714F104 13G/A Page 12 of 15 Pages
E. Lone Pine Capital LLC
(a) Amount beneficially owned: 333,250
(b) Percent of class: 1.1%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 333,250
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
333,250
F. Stephen F. Mandel, Jr.
(a) Amount beneficially owned: 406,897
(b) Percent of class: 1.3%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 406,897
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
406,897
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X].
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
CUSIP No. 71714F104 13G/A Page 13 of 15 Pages
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
See Item 2.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Each of the Reporting Persons hereby makes the following certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
CUSIP No. 71714F104 13G/A Page 14 of 15 Pages
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 14, 2008
By: /s/ Stephen F. Mandel, Jr.
---------------------------------
Stephen F. Mandel, Jr., individually and
(a) as Managing Member of Lone Pine
Associates LLC, for itself and as the
general partner of (i) Lone Spruce, L.P.,
(ii) Lone Balsam, L.P. and (iii) Lone
Sequoia, L.P.;
and
(b) as Managing Member of Lone Pine
Capital LLC
CUSIP No. 71714F104 13G/A Page 15 of 15 Pages
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G/A, is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G/A, shall be filed on
behalf of each of the undersigned without the necessity of filing additional
joint acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.
DATED: February 14, 2008
By: /s/ Stephen F. Mandel, Jr.
---------------------------------
Stephen F. Mandel, Jr., individually and
(a) as Managing Member of Lone Pine
Associates LLC, for itself and as the
general partner of (i) Lone Spruce, L.P.,
(ii) Lone Balsam, L.P. and (iii) Lone
Sequoia, L.P.;
(b) and as Managing Member of Lone Pine
Capital LLC