13F-HR 1 deerfieldmanagementlp1.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2005 Check here if Amendment [ ]; Amendment Number: This amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: DEERFIELD MANAGEMENT Address: 450 Lexington Avenue, Suite 1450 New York, NY 10017 13 File Number: 28-5366 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct, and complete, and and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form Person Signing this Report on Behalf of Reporting Manager: Name: Darren Levine Title: Phone: Signature, Place and Date of Signing: Darren Levine November 9, 2005 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934 FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 74 Form 13F Information Table Value Total: 1258817 FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP x($1000) PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- -------- D ABGENIX INC COM STK COMMON STOCK 00339B107 17738 1398915 SH SOLE 1398915 0 0 D ACUSPHERE INC COMMON STOCK 00511R870 1904 350000 SH SOLE 350000 0 0 D AETNA INC COMMON STOCK 00817Y108 17228 200000 SH SOLE 200000 0 0 D AMGEN INC USD COM COMMON STOCK 031162100 11951 150000 SH SOLE 150000 0 0 D AMYLIN PHARMACEUTICALS INC COMMON STOCK 032346108 85730 2464200 SH SOLE 2464200 0 0 D ANADYS PHARMACEUTICA LS INC CO COMMON STOCK 03252Q408 8803 825000 SH SOLE 825000 0 0 D ANIMAS COMMON STOCK 03525Y105 1413 90000 SH SOLE 90000 0 0 D ARRAY BIOPHARMA COMMON STOCK 04269X105 11847 1650000 SH SOLE 1650000 0 0 D ATHEROGENICS COM STK COMMON STOCK 047439104 4008 250000 SH SOLE 250000 0 0 D ATS MEDICAL INC COM COMMON STOCK 002083103 7100 1919000 SH SOLE 1919000 0 0 D BARRIER THERAPEUTICS INC COM COMMON STOCK 06850R108 5854 697786 SH SOLE 697786 0 0 D BIOVAIL CORP COM STK COMMON STOCK 09067J109 88308 3778700 SH SOLE 3778700 0 0 D BOSTON SCIENTIFIC CORP COMMON STOCK 101137107 58892 2520000 SH SOLE 2520000 0 0 D BRUKER BIOSCIENCES CORP COMMON STOCK 116794108 4380 1000000 SH SOLE 1000000 0 0 D CARDINAL HEALTH INC COM COMMON STOCK 14149Y108 19032 300000 SH SOLE 300000 0 0 D CELGENE CORPORATION COM COMMON STOCK 151020104 21728 400000 SH SOLE 400000 0 0 D CENTENE CORP COMMON STOCK 15135B101 15018 600000 SH SOLE 600000 0 0 D CEPHALON INC COM COMMON STOCK 156708109 34011 732688 SH SOLE 732688 0 0 D COTHERIX COMMON STOCK 22163T103 8741 626587 SH SOLE 626587 0 0 D CYBERONICS INC COM COMMON STOCK 23251P102 4478 150000 SH SOLE 150000 0 0 D CYPRESS BIOSCIENCE INC COMMON STOCK 232674507 13525 2500000 SH SOLE 2500000 0 0 D CYPRESS BIOSCIENCE INC OPTIONS - PUTS 2326740VB 5410 1000000 SH PUT SOLE 1000000 0 0 D Charles River Labora tories In COMMON STOCK 159864107 4249 97400 SH SOLE 97400 0 0 D DYNAVAX TECHS COMMON STOCK 268158102 16023 2391510 SH SOLE 2391510 0 0 D ELAN CORP PLC ADR (REPR 1 ORD) ADRS STOCKS 284131208 8860 1000000 SH SOLE 1000000 0 0 D ELI LILLY & CO COM COMMON STOCK 532457108 53520 1000000 SH SOLE 1000000 0 0 D EMAGEON INC COM COMMON STOCK 29076V109 2196 161940 SH SOLE 161940 0 0 D EXELIXIS INC COM STK COMMON STOCK 30161Q104 20939 2737137 SH SOLE 2737137 0 0 D FISHER SCIENTIFIC INTL INC COM COMMON STOCK 338032204 15575 251000 SH SOLE 251000 0 0 D GENTIVA HEALTH SERV INC COM COMMON STOCK 37247A102 11040 609298 SH SOLE 609298 0 0 D GERON CORP COM COMMON STOCK 374163103 5135 500000 SH SOLE 500000 0 0 D GILEAD SCIENCES INC COM COMMON STOCK 375558103 24380 500000 SH SOLE 500000 0 0 D GUILFORD PHARMACEUTICALS INC COMMON STOCK 401829106 12237 3352647 SH SOLE 3352647 0 0 D HEALTHSOUTH CORP COM COMMON STOCK 421924101 4296 1037600 SH SOLE 1037600 0 0 D INCYTE CORP COM COMMON STOCK 45337C102 7185 1528801 SH SOLE 1528801 0 0 D INHIBITEX COMMON STOCK 45719T103 3816 375000 SH SOLE 375000 0 0 D INSPIRE PHARMA COM STK COMMON STOCK 457733103 15200 2000000 SH SOLE 2000000 0 0 D INTERMUNE INC. COMMON STOCK 45884X103 14144 854607 SH SOLE 854607 0 0 D INVITROGEN CORP COMMON STOCK 46185R100 3804 50560 SH SOLE 50560 0 0 D ISTA PHARMACEUTICALS INC COMMON STOCK 45031X204 15891 2393178 SH SOLE 2393178 0 0 D K V PHARMACEUTICAL CL A COMMON STOCK 482740206 9919 558200 SH SOLE 558200 0 0 D KINETIC CONCEPTS COMMON STOCK 49460W208 8543 150400 SH SOLE 150400 0 0 D LCA-VISION INC COM PAR $.001 COMMON STOCK 501803308 21377 575900 SH SOLE 575900 0 0 D LIGAND PHARMACEUTICALS INC COMMON STOCK 53220K207 17739 1750000 SH SOLE 1750000 0 0 D MACROCHEM CORP DEL COM COMMON STOCK 555903103 147 2880608 SH SOLE 2880608 0 0 D MAGELLAN HLTH COMMON STOCK 559079207 33568 955000 SH SOLE 955000 0 0 D MANNKIND COMMON STOCK 56400P201 5345 390434 SH SOLE 390434 0 0 D MARTEK BIOSCIENCES CORP COMMON STOCK 572901106 9628 274056 SH SOLE 274056 0 0 D MEDCOHEALTH SOLUTION S INC COMMON STOCK 58405U102 34269 625000 SH SOLE 625000 0 0 D MEDIMMUNE INC COM COMMON STOCK 584699102 26079 775000 SH SOLE 775000 0 0 D MERCK & CO INC COM COMMON STOCK 589331107 13605 500000 SH SOLE 500000 0 0 D METABASIS THRPTC COMMON STOCK 59101M105 570 97800 SH SOLE 97800 0 0 D MGI PHARMACEUTICALS INC COMMON STOCK 552880106 2324 100000 SH SOLE 100000 0 0 D MWI VETERINARY SUPPLY CO COM COMMON STOCK 55402X105 1995 100000 SH SOLE 100000 0 0 D NABI BIOPHARMACEUTIC ALS COMMON STOCK 629519109 29281 2235224 SH SOLE 2235224 0 0 D NABI BIOPHARMACEUTIC ALS OPTIONS - CALLS 6295190LC 13100 1000000 SH CALL SOLE 1000000 0 0 D NABI BIOPHARMACEUTIC ALS OPTIONS - CALLS 6295190LV 13100 1000000 SH CALL SOLE 1000000 0 0 D NEUROMETRIX INC COMMON STOCK 641255104 2411 81000 SH SOLE 81000 0 0 D NPS PHARMACEUTICALS INC COM COMMON STOCK 62936P103 5055 500000 SH SOLE 500000 0 0 D OCCULOGIX OPTIONS - PUTS 67461T0MB 2374 371500 SH PUT SOLE 371500 0 0 D OCCULOGIX OPTIONS - PUTS 67461T0VB 217 34000 SH PUT SOLE 34000 0 0 D ONYX PHARMACEUTICAL INC COM COMMON STOCK 683399109 85362 3418587 SH SOLE 3418587 0 0 D OPTION CARE INC COM COMMON STOCK 683948103 8784 600000 SH SOLE 600000 0 0 D PACIFICARE HEALTH SYSTEMS INC COMMON STOCK 695112102 39890 500000 SH SOLE 500000 0 0 D PAR PHARMACEUTICAL COS INC COMMON STOCK 69888P106 41855 1572300 SH SOLE 1572300 0 0 D PHARMACEUTICAL PROD DEV INC CO COMMON STOCK 717124101 7344 127692 SH SOLE 127692 0 0 D ST JUDE MED INC COM COMMON STOCK 790849103 39780 850000 SH SOLE 850000 0 0 D SUPERGEN UNC COM COMMON STOCK 868059106 9450 1500000 SH SOLE 1500000 0 0 D THE MEDICINES COM STK COMMON STOCK 584688105 31064 1350000 SH SOLE 1350000 0 0 D THIRD WAVE TECH COMMON STOCK 88428W108 17707 3577248 SH SOLE 3577248 0 0 D VION PHARMACEUTICALS INC COM COMMON STOCK 927624106 2065 951724 SH SOLE 951724 0 0 D WYETH SHS COMMON STOCK 983024100 13881 300000 SH SOLE 300000 0 0 D ZIMMER HLDGS INC COM COMMON STOCK 98956P102 1722 25000 SH SOLE 25000 0 0 D ZYMOGENETICS INC Com COMMON STOCK 98985T109 23678 1435018 SH SOLE 1435018 0 0 S REPORT SUMMARY 74 DATA RECORDS 1258817 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED