<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
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       <nameOfIssuer>ACHILLION PHARMACEUTICALS IN</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>00448Q201</cusip>
       <value>35373</value>
       <shrsOrPrnAmt>
           <sshPrnamt>11712953</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>11712953</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>AGIOS PHARMACEUTICALS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>00847X104</cusip>
       <value>1118</value>
       <shrsOrPrnAmt>
           <sshPrnamt>40000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>40000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ALTISOURCE PORTFOLIO SOLNS S</nameOfIssuer>
       <titleOfClass>REG SHS</titleOfClass>
       <cusip>L0175J104</cusip>
       <value>3500</value>
       <shrsOrPrnAmt>
           <sshPrnamt>25000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Put</putCall>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>25000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ANACOR PHARMACEUTICALS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>032420101</cusip>
       <value>14425</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1358303</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>1358303</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ARM HLDGS PLC</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>042068106</cusip>
       <value>10591</value>
       <shrsOrPrnAmt>
           <sshPrnamt>220100</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Put</putCall>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>220100</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ARMOUR RESIDENTIAL REIT INC</nameOfIssuer>
       <titleOfClass>*W EXP 11/07/201</titleOfClass>
       <cusip>042315119</cusip>
       <value>0</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1651796</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>1651796</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ARRAY BIOPHARMA INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>04269X105</cusip>
       <value>17905</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2878600</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>2878600</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ARRAY BIOPHARMA INC</nameOfIssuer>
       <titleOfClass>NOTE 3.000% 6/0</titleOfClass>
       <cusip>04269XAA3</cusip>
       <value>10471</value>
       <shrsOrPrnAmt>
           <sshPrnamt>9000000</sshPrnamt>
           <sshPrnamtType>PRN</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>9000000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BIOCRYST PHARMACEUTICALS</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>09058V103</cusip>
       <value>1507</value>
       <shrsOrPrnAmt>
           <sshPrnamt>207034</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>207034</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BLUEBIRD BIO INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>09609G100</cusip>
       <value>2022</value>
       <shrsOrPrnAmt>
           <sshPrnamt>75000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>75000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>BRF SA</nameOfIssuer>
       <titleOfClass>SPONSORED ADR</titleOfClass>
       <cusip>10552T107</cusip>
       <value>24462</value>
       <shrsOrPrnAmt>
           <sshPrnamt>997220</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>997220</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>14040H105</cusip>
       <value>43226</value>
       <shrsOrPrnAmt>
           <sshPrnamt>628835</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>628835</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CBRE GROUP INC</nameOfIssuer>
       <titleOfClass>CL A</titleOfClass>
       <cusip>12504L109</cusip>
       <value>19228</value>
       <shrsOrPrnAmt>
           <sshPrnamt>831320</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>831320</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CHINA ZENIX AUTO INTL LTD</nameOfIssuer>
       <titleOfClass>ADS</titleOfClass>
       <cusip>16951E104</cusip>
       <value>9295</value>
       <shrsOrPrnAmt>
           <sshPrnamt>3147200</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>3147200</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CITIGROUP INC</nameOfIssuer>
       <titleOfClass>COM NEW</titleOfClass>
       <cusip>172967424</cusip>
       <value>22308</value>
       <shrsOrPrnAmt>
           <sshPrnamt>459873</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>459873</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CLOVIS ONCOLOGY INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>189464100</cusip>
       <value>20974</value>
       <shrsOrPrnAmt>
           <sshPrnamt>344960</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>344960</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CMS ENERGY CORP</nameOfIssuer>
       <titleOfClass>NOTE 5.500% 6/1</titleOfClass>
       <cusip>125896BD1</cusip>
       <value>4856</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2500000</sshPrnamt>
           <sshPrnamtType>PRN</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>2500000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>CREE INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>225447101</cusip>
       <value>36114</value>
       <shrsOrPrnAmt>
           <sshPrnamt>600000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Put</putCall>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>600000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>DST SYS INC DEL</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>233326107</cusip>
       <value>7683</value>
       <shrsOrPrnAmt>
           <sshPrnamt>101883</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>101883</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>DYAX CORP</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>26746E103</cusip>
       <value>16402</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2390900</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>2390900</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>E TRADE FINANCIAL CORP</nameOfIssuer>
       <titleOfClass>COM NEW</titleOfClass>
       <cusip>269246401</cusip>
       <value>16773</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1016518</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>1016518</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>E TRADE FINANCIAL CORP</nameOfIssuer>
       <titleOfClass>NOTE 8/3</titleOfClass>
       <cusip>269246AZ7</cusip>
       <value>41954</value>
       <shrsOrPrnAmt>
           <sshPrnamt>26214000</sshPrnamt>
           <sshPrnamtType>PRN</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>26214000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>EPIZYME INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>29428V104</cusip>
       <value>5000</value>
       <shrsOrPrnAmt>
           <sshPrnamt>125000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>125000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>FEDERATED INVS INC PA</nameOfIssuer>
       <titleOfClass>CL B</titleOfClass>
       <cusip>314211103</cusip>
       <value>2716</value>
       <shrsOrPrnAmt>
           <sshPrnamt>100000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Put</putCall>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>100000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>GREEN DOT CORP</nameOfIssuer>
       <titleOfClass>CL A</titleOfClass>
       <cusip>39304D102</cusip>
       <value>36800</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1397642</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>1397642</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>HALOZYME THERAPEUTICS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>40637H109</cusip>
       <value>49899</value>
       <shrsOrPrnAmt>
           <sshPrnamt>4519800</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>4519800</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>HOME LN SERVICING SOLUTIONS</nameOfIssuer>
       <titleOfClass>ORD SHS</titleOfClass>
       <cusip>G6648D109</cusip>
       <value>5199</value>
       <shrsOrPrnAmt>
           <sshPrnamt>236200</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Put</putCall>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>236200</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>IDENIX PHARMACEUTICALS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>45166R204</cusip>
       <value>519</value>
       <shrsOrPrnAmt>
           <sshPrnamt>100000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>100000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>ILLUMINA INC</nameOfIssuer>
       <titleOfClass>NOTE 0.625% 2/1</titleOfClass>
       <cusip>452327AB5</cusip>
       <value>59923</value>
       <shrsOrPrnAmt>
           <sshPrnamt>16135000</sshPrnamt>
           <sshPrnamtType>PRN</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>16135000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>INFINITY PHARMACEUTICALS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>45665G303</cusip>
       <value>23123</value>
       <shrsOrPrnAmt>
           <sshPrnamt>1326610</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>1326610</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>INTERMUNE INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>45884X103</cusip>
       <value>39119</value>
       <shrsOrPrnAmt>
           <sshPrnamt>2543468</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>2543468</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>INTERMUNE INC</nameOfIssuer>
       <titleOfClass>NOTE 2.500%12/1</titleOfClass>
       <cusip>45884XAF0</cusip>
       <value>12729</value>
       <shrsOrPrnAmt>
           <sshPrnamt>9000000</sshPrnamt>
           <sshPrnamtType>PRN</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>9000000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>JPMORGAN CHASE &amp; CO</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>46625H100</cusip>
       <value>30893</value>
       <shrsOrPrnAmt>
           <sshPrnamt>597660</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>597660</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>KERYX BIOPHARMACEUTICALS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>492515101</cusip>
       <value>9202</value>
       <shrsOrPrnAmt>
           <sshPrnamt>912000</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>912000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>LEGG MASON INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>524901105</cusip>
       <value>28162</value>
       <shrsOrPrnAmt>
           <sshPrnamt>842168</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>842168</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>LUMBER LIQUIDATORS HLDGS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>55003T107</cusip>
       <value>2570</value>
       <shrsOrPrnAmt>
           <sshPrnamt>24100</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <putCall>Call</putCall>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>24100</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>MEDIVATION INC</nameOfIssuer>
       <titleOfClass>NOTE 2.625% 4/0</titleOfClass>
       <cusip>58501NAA9</cusip>
       <value>20827</value>
       <shrsOrPrnAmt>
           <sshPrnamt>14750000</sshPrnamt>
           <sshPrnamtType>PRN</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>14750000</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>MEDIVATION INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>58501N101</cusip>
       <value>18289</value>
       <shrsOrPrnAmt>
           <sshPrnamt>305128</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>305128</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
   </infoTable>
   <infoTable>
       <nameOfIssuer>MIRATI THERAPEUTICS INC</nameOfIssuer>
       <titleOfClass>COM</titleOfClass>
       <cusip>60468T105</cusip>
       <value>6788</value>
       <shrsOrPrnAmt>
           <sshPrnamt>592978</sshPrnamt>
           <sshPrnamtType>SH</sshPrnamtType>
       </shrsOrPrnAmt>
       <investmentDiscretion>DFND</investmentDiscretion>
       <votingAuthority>
           <Sole>592978</Sole>
           <Shared>0</Shared>
           <None>0</None>
       </votingAuthority>
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