-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OKuOosunQMM3Zwmpc1OzXxUWA4k9KN6ZbTZTjZaaaZxHQnFreOquNEYzqrhd9FF5 UkumRYkzrBnL2gBW+u1HOw== 0000902664-08-000487.txt : 20080206 0000902664-08-000487.hdr.sgml : 20080206 20080205180833 ACCESSION NUMBER: 0000902664-08-000487 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20080206 DATE AS OF CHANGE: 20080205 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PHARMION CORP CENTRAL INDEX KEY: 0001203866 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79338 FILM NUMBER: 08578424 BUSINESS ADDRESS: STREET 1: 2525 28TH STREET CITY: BOULDER STATE: CO ZIP: 80301 BUSINESS PHONE: 720 564 9100 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SAC CAPITAL ADVISORS LLC CENTRAL INDEX KEY: 0001018103 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 72 CUMMINGS POINT ROAD CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 2036142000 MAIL ADDRESS: STREET 1: 72 CUMMINGS POINT ROAD CITY: STAMFORD STATE: CT ZIP: 06902 SC 13D/A 1 p08-0307sc13da.txt PHARMION CORPORATION UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 2)* Pharmion Corporation - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $0.001 Par Value Per Share - -------------------------------------------------------------------------------- (Title of Class of Securities) 71715B409 - -------------------------------------------------------------------------------- (CUSIP Number) Peter A. Nussbaum, Esq. CR Intrinsic Investors, LLC 72 Cummings Point Road Stamford, CT 06902 (203) 890-2000 with a copy to: Marc Weingarten, Esq. Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022 (212) 756-2000 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 5, 2008 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: [ ] NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent. * 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 disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose 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. 7175B409 PAGE 2 OF 14 PAGES - ------------------------------------ ------------------- - ---------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON S.A.C. Capital Advisors, LLC - ---------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS AF - ---------- -------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------- -------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER -0- SHARES ----------------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER 553,692 OWNED BY ----------------------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER -0- REPORTING ----------------------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER 553,692 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 553,692 - ----------- -------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.5% - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 00 - ----------- -------------------------------------------------------------------- - ------------------------------------ ------------------- CUSIP NO. 7175B409 PAGE 3 OF 14 PAGES - ------------------------------------ ------------------- - ---------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON S.A.C. Capital Management, LLC - ---------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS AF - ---------- -------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------- -------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER -0- SHARES ----------------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER 553,692 OWNED BY ----------------------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER -0- REPORTING ----------------------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER 553,692 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 553,692 - ---------- -------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - ---------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.5% - ---------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 00 - ---------- -------------------------------------------------------------------- - ------------------------------------ ------------------- CUSIP NO. 7175B409 PAGE 4 OF 14 PAGES - ------------------------------------ ------------------- - ---------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON CR Intrinsic Investors, LLC - ---------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS AF - ---------- -------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------- -------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER -0- SHARES ----------------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER 2,555,476 OWNED BY ----------------------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER -0- REPORTING ----------------------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER 2,555,476 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,555,476 - ---------- -------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - ---------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.9% - ---------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 00 - ---------- -------------------------------------------------------------------- - ------------------------------------ ------------------- CUSIP NO. 7175B409 PAGE 5 OF 14 PAGES - ------------------------------------ ------------------- - ---------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON CR Intrinsic Investments, LLC - ---------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS WC, OO - ---------- -------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Anguilla, British West Indies - ---------- -------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER -0- SHARES ----------------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER 2,555,476 OWNED BY ----------------------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER -0- REPORTING ----------------------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER 2,555,476 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,555,476 - ---------- -------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - ---------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.9% - ---------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 00 - ---------- -------------------------------------------------------------------- - ------------------------------------ ------------------- CUSIP NO. 7175B409 PAGE 6 OF 14 PAGES - ------------------------------------ ------------------- - ---------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Steven A. Cohen - ---------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ---------- -------------------------------------------------------------------- 3 SEC USE ONLY - ---------- -------------------------------------------------------------------- 4 SOURCE OF FUNDS AF - ---------- -------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ---------- -------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER -0- SHARES ----------------------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER 3,109,168 OWNED BY ----------------------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER -0- REPORTING ----------------------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER 3,109,168 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,109,168 - ---------- -------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - ---------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.3% - ---------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - ---------- -------------------------------------------------------------------- Pursuant to Rule 13d-2 promulgated under the Act, this Schedule 13D/A amends the Schedule 13D filed with the Securities and Exchange Commission on December 26, 2007, as previously amended on January 15, 2008, and relates to the shares of common stock, par value $0.001 per share, of Pharmion Corporation, a Delaware corporation (the "Issuer"). ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. Item 3 of the Schedule 13D is hereby amended and restated in its entirety as follows: The Reporting Persons expended an aggregate of approximately $193,583,165 of investment capital to purchase the 3,109,168 shares of Common Stock. Such transactions were effected in open market purchases and acquired in the ordinary course of business and are held by SAC Associates and CR Intrinsic Investments in commingled margin accounts maintained at Morgan Stanley & Co. and Goldman Sachs & Co., which may extend margin credit to the Reporting Persons as and when required to open or carry positions in the margin account, subject to applicable federal margin regulations, stock exchange rules and credit policies. In such instances, the positions held in the margin account are pledged as collateral security for the repayment of debit balances in the account. The margin account may from time to time have debit balances. Since other securities are held in the margin account, it is not possible to determine the amounts, if any, of margin used to purchase the shares of Common Stock reported herein. ITEM 4. PURPOSE OF TRANSACTION. Item 4 of the Schedule 13D is hereby amended by the addition of the following as the penultimate paragraph thereof: On February 5, 2008, SAC Capital Advisors sent a letter to the Issuer stating its position regarding the Issuer's proposed merger with Celgene Corporation ("Celgene"). SAC Capital Advisors noted that while it saw the merits of a potential merger with Celgene, it believes that the proposed merger consideration should be increased if shareholders are not given the opportunity to assess competitive data from the Phase III Dacogen EORTC study, or else the vote should be delayed to give shareholders that opportunity. A copy of the letter is attached hereto as Exhibit B. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows: (a) As of the close of business on February 4, 2008, the Reporting Persons beneficially own an aggregate of 3,109,168 shares of Common Stock, representing approximately 8.3% of the shares of Common Stock outstanding. The percentages used herein are based upon the 37,250,223 shares of Common Stock reported to be outstanding as of November 6, 2007 by the Issuer in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 9, 2007. SAC Capital Advisors, SAC Capital Management, CR Intrinsic Investors and Mr. Cohen own directly no shares of Common Stock. Pursuant to investment management agreements, each of SAC Capital Advisors and SAC Capital Management hold all investment and voting power with respect to securities held by SAC Associates. Pursuant to an investment management agreement, CR Intrinsic Investors holds all investment and voting power with respect to securities held by CR Intrinsic Investments. Mr. Cohen controls each of SAC Capital Advisors, SAC Capital Management and CR Intrinsic Investors. By reason of the provisions of Rule 13d-3 of the Act, as amended, each of (i) SAC Capital Advisors, SAC Capital Management and Mr. Cohen may be deemed to own beneficially 553,692 shares of Common Stock (constituting approximately 1.5% of the shares of Common Stock outstanding) and (ii) CR Intrinsic Investors and Mr. Cohen may be deemed to own beneficially 2,555,476 shares of Common Stock (constituting approximately 6.9% of the shares of Common Stock outstanding). (b) None of the Reporting Persons has sole power to vote or direct the vote or sole power to dispose or direct the disposition of shares of Common Stock. (i) SAC Capital Advisors has shared power to vote or direct the vote and shared power to dispose or direct the disposition of 553,692 shares of Common Stock, constituting 1.5% of such class of securities; (ii) SAC Capital Management has shared power to vote or direct the vote and shared power to dispose or direct the disposition of 553,692 shares of Common Stock, constituting 1.5% of such class of securities; (iii) CR Intrinsic Investors has shared power to vote or direct the vote and shared power to dispose or direct the disposition of 2,555,476 shares of Common Stock, constituting approximately 6.9% of such class of securities; (iv) CR Intrinsic Investments has shared power to vote or direct the vote and shared power to dispose or direct the disposition of 2,555,476 shares of Common Stock, constituting approximately 6.9% of such class of securities; and (v) Steven A. Cohen has shared power to vote or direct the vote and shared power to dispose or direct the disposition of 3,109,168 shares of Common Stock, constituting approximately 8.3% of such class of securities. (c) Information concerning transactions in the shares of Common Stock effected by the Reporting Persons since the most recent filing on Schedule 13D is set forth in Schedule A hereto and is incorporated herein by reference. Except as otherwise noted, all of such transactions were effected in open market purchases through various brokerage entities on the NASDAQ exchange. (d) No person other than SAC Capital Advisors, SAC Capital Management, CR Intrinsic Investors and Steven A. Cohen is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock directly beneficially owned by SAC Associates and CR Intrinsic Investments. (e) Not applicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Item 6 of Schedule 13D is hereby amended and restated in its entirety as follows: Other than as described herein, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Persons and any other person with respect to the securities of the Issuer. The Reporting Persons may, from time to time, enter into and dispose of cash-settled equity swaps or other similar derivative transactions with one or more counterparties that are based upon the value of shares of Common Stock, which transactions may be significant in amount. The profit, loss and/or return on such contracts may be wholly or partially dependent on the market value of the shares of Common Stock, the relative value of shares of Common Stock in comparison to one or more other financial instruments, indexes or securities, a basket or group of securities in which shares of Common Stock may be included, or a combination of any of the foregoing. In addition to the shares of Common Stock reported herein, as of the close of business on February 4, 2008 the Reporting Persons have long economic exposure to 755 shares through such contracts. These contracts do not give the Reporting Persons direct or indirect voting, investment or dispositive control over any securities of the Issuer and do not require the counterparties thereto to acquire, hold, vote or dispose of any securities of the Issuer. Accordingly, the Reporting Persons disclaim any beneficial ownership in any securities that may be referenced in such contracts or that may be held from time to time by any counterparties to such contracts. In addition, an affiliate of the Reporting Persons currently has a short position with respect to 6,231 shares of Common Stock. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Item 7 of the Schedule 13D is hereby amended and restated in its entirety as follows: 1. Schedule A - Trading History 2. Exhibit A - Joint Filing Agreement (previously filed) 3. Exhibit B - Letter from SAC Capital Advisors to Issuer dated February 5, 2008 SIGNATURES After reasonable inquiry and to the best of each of the undersigned's knowledge and belief, each of the undersigned, severally and not jointly, certifies that the information set forth in this statement is true, complete and correct. Dated: February 5, 2008 S.A.C. CAPITAL ADVISORS, LLC By: /s/ Peter Nussbaum ------------------------------------- Name: Peter Nussbaum Title: Authorized Person S.A.C. CAPITAL MANAGEMENT, LLC By: /s/ Peter Nussbaum ------------------------------------- Name: Peter Nussbaum Title: Authorized Person CR INTRINSIC INVESTORS, LLC By: /s/ Peter Nussbaum ------------------------------------- Name: Peter Nussbaum Title: Authorized Person CR INTRINSIC INVESTMENTS, LLC By: /s/ Peter Nussbaum ------------------------------------- Name: Peter Nussbaum Title: Authorized Person STEVEN A. COHEN By: /s/ Peter Nussbaum ------------------------------------- Name: Peter Nussbaum Title: Authorized Person SCHEDULE A Date Company Name Amount Price per Share 1/14/2008 S.A.C. Capital Associates, LLC (2900) 68.1 1/14/2008 S.A.C. Capital Associates, LLC (100) 68.11 1/16/2008 S.A.C. Capital Associates, LLC (117) 68.1 1/16/2008 S.A.C. Capital Associates, LLC (800) 68.11 1/16/2008 S.A.C. Capital Associates, LLC (4708) 68.12 1/16/2008 S.A.C. Capital Associates, LLC (100) 68.125 1/16/2008 S.A.C. Capital Associates, LLC (1290) 68.13 1/16/2008 S.A.C. Capital Associates, LLC (2502) 68.135 1/16/2008 S.A.C. Capital Associates, LLC (100) 68.1375 1/16/2008 S.A.C. Capital Associates, LLC (6500) 68.14 1/16/2008 S.A.C. Capital Associates, LLC (100) 68.1425 1/16/2008 S.A.C. Capital Associates, LLC (2900) 68.15 1/16/2008 S.A.C. Capital Associates, LLC (200) 68.16 1/16/2008 S.A.C. Capital Associates, LLC (100) 68.18 1/16/2008 S.A.C. Capital Associates, LLC (200) 68.19 1/16/2008 S.A.C. Capital Associates, LLC (3800) 68.2 1/16/2008 S.A.C. Capital Associates, LLC (2406) 68.21 1/16/2008 S.A.C. Capital Associates, LLC (200) 68.2101 1/16/2008 S.A.C. Capital Associates, LLC (6) 68.215 1/16/2008 S.A.C. Capital Associates, LLC (100) 68.22 1/16/2008 S.A.C. Capital Associates, LLC (900) 68.23 1/16/2008 S.A.C. Capital Associates, LLC (500) 68.24 1/16/2008 S.A.C. Capital Associates, LLC (194) 68.245 1/16/2008 S.A.C. Capital Associates, LLC (15745) 68.25 1/16/2008 S.A.C. Capital Associates, LLC (200) 68.2525 1/16/2008 S.A.C. Capital Associates, LLC (11944) 68.26 1/16/2008 S.A.C. Capital Associates, LLC (1294) 68.2601 1/16/2008 S.A.C. Capital Associates, LLC (100) 68.2675 1/16/2008 S.A.C. Capital Associates, LLC (4981) 68.27 1/16/2008 S.A.C. Capital Associates, LLC (300) 68.2701 1/16/2008 S.A.C. Capital Associates, LLC (100) 68.275 1/16/2008 S.A.C. Capital Associates, LLC (3160) 68.28 1/16/2008 S.A.C. Capital Associates, LLC (4115) 68.29 1/16/2008 S.A.C. Capital Associates, LLC (2700) 68.3 1/16/2008 S.A.C. Capital Associates, LLC (1290) 68.31 1/16/2008 S.A.C. Capital Associates, LLC (200) 68.3101 1/16/2008 S.A.C. Capital Associates, LLC (500) 68.315 1/16/2008 S.A.C. Capital Associates, LLC (1548) 68.32 1/16/2008 S.A.C. Capital Associates, LLC (500) 68.33 1/16/2008 S.A.C. Capital Associates, LLC (700) 68.34 1/16/2008 S.A.C. Capital Associates, LLC (900) 68.355 1/16/2008 S.A.C. Capital Associates, LLC (800) 68.36 1/16/2008 S.A.C. Capital Associates, LLC (41) 68.3601 1/16/2008 S.A.C. Capital Associates, LLC (2800) 68.37 1/16/2008 S.A.C. Capital Associates, LLC (200) 68.375 1/16/2008 S.A.C. Capital Associates, LLC (4100) 68.38 1/16/2008 S.A.C. Capital Associates, LLC (400) 68.3875 1/16/2008 S.A.C. Capital Associates, LLC (3759) 68.39 1/16/2008 S.A.C. Capital Associates, LLC (200) 68.395 1/16/2008 S.A.C. Capital Associates, LLC (1741) 68.3975 1/16/2008 S.A.C. Capital Associates, LLC (3300) 68.4 1/16/2008 S.A.C. Capital Associates, LLC (1359) 68.41 1/17/2008 S.A.C. Capital Associates, LLC (600) 68.38 1/17/2008 S.A.C. Capital Associates, LLC (900) 68.385 1/17/2008 S.A.C. Capital Associates, LLC (600) 68.4 1/17/2008 S.A.C. Capital Associates, LLC (172) 68.41 1/17/2008 S.A.C. Capital Associates, LLC (500) 68.75 1/17/2008 S.A.C. Capital Associates, LLC (319) 68.7501 1/17/2008 S.A.C. Capital Associates, LLC (300) 68.755 1/17/2008 S.A.C. Capital Associates, LLC (300) 68.76 1/17/2008 S.A.C. Capital Associates, LLC (100) 68.7688 1/17/2008 S.A.C. Capital Associates, LLC (800) 68.77 1/17/2008 S.A.C. Capital Associates, LLC (2700) 68.775 1/17/2008 S.A.C. Capital Associates, LLC (1099) 68.78 1/17/2008 S.A.C. Capital Associates, LLC (100) 68.79 1/17/2008 S.A.C. Capital Associates, LLC (300) 68.795 1/17/2008 S.A.C. Capital Associates, LLC (6210) 68.8 1/18/2008 S.A.C. Capital Associates, LLC 300 67.93 1/18/2008 S.A.C. Capital Associates, LLC 400 67.94 1/18/2008 S.A.C. Capital Associates, LLC 100 67.955 1/18/2008 S.A.C. Capital Associates, LLC 800 67.97 1/18/2008 S.A.C. Capital Associates, LLC 700 67.98 1/18/2008 S.A.C. Capital Associates, LLC 200 67.985 1/18/2008 S.A.C. Capital Associates, LLC 4180 67.99 1/18/2008 S.A.C. Capital Associates, LLC 8320 68 1/22/2008 S.A.C. Capital Associates, LLC 1400 66.24 1/22/2008 S.A.C. Capital Associates, LLC 2400 66.25 1/22/2008 S.A.C. Capital Associates, LLC 300 66.26 1/22/2008 S.A.C. Capital Associates, LLC 707 66.27 1/22/2008 S.A.C. Capital Associates, LLC 965 66.28 1/22/2008 S.A.C. Capital Associates, LLC 1900 66.29 1/22/2008 S.A.C. Capital Associates, LLC 4928 66.3 1/22/2008 S.A.C. Capital Associates, LLC 400 66.47 1/22/2008 S.A.C. Capital Associates, LLC 1000 66.48 1/22/2008 S.A.C. Capital Associates, LLC 1958 66.49 1/22/2008 S.A.C. Capital Associates, LLC 11642 66.5 1/22/2008 S.A.C. Capital Associates, LLC 100 66.65 1/22/2008 S.A.C. Capital Associates, LLC 100 66.66 1/22/2008 S.A.C. Capital Associates, LLC 100 66.67 1/22/2008 S.A.C. Capital Associates, LLC 900 66.68 1/22/2008 S.A.C. Capital Associates, LLC 900 66.69 1/22/2008 S.A.C. Capital Associates, LLC 2400 66.7 1/22/2008 S.A.C. Capital Associates, LLC 700 66.71 1/22/2008 S.A.C. Capital Associates, LLC 300 66.74 1/22/2008 S.A.C. Capital Associates, LLC 4500 66.75 1/23/2008 CR Intrinsic Investments, LLC* (25000) 65.8 1/23/2008 CR Intrinsic Investments, LLC 51200 65.56 1/23/2008 CR Intrinsic Investments, LLC 4100 65.6 1/23/2008 CR Intrinsic Investments, LLC 100 65.605 1/23/2008 CR Intrinsic Investments, LLC 100 65.62 1/23/2008 CR Intrinsic Investments, LLC 200 65.665 1/23/2008 CR Intrinsic Investments, LLC 100 65.685 1/23/2008 CR Intrinsic Investments, LLC 100 65.69 1/23/2008 CR Intrinsic Investments, LLC 1200 65.7 1/23/2008 CR Intrinsic Investments, LLC 200 65.75 1/23/2008 CR Intrinsic Investments, LLC 300 65.76 1/23/2008 CR Intrinsic Investments, LLC 403 65.77 1/23/2008 CR Intrinsic Investments, LLC 1200 65.8 1/23/2008 CR Intrinsic Investments, LLC 1200 65.83 1/23/2008 CR Intrinsic Investments, LLC 200 65.84 1/23/2008 CR Intrinsic Investments, LLC 1668 65.85 1/23/2008 CR Intrinsic Investments, LLC 500 65.86 1/23/2008 CR Intrinsic Investments, LLC 100 65.862 1/23/2008 CR Intrinsic Investments, LLC 200 65.87 1/23/2008 CR Intrinsic Investments, LLC 100 65.89 1/23/2008 CR Intrinsic Investments, LLC 200 65.91 1/23/2008 CR Intrinsic Investments, LLC 100 65.93 1/23/2008 CR Intrinsic Investments, LLC 400 65.94 1/23/2008 CR Intrinsic Investments, LLC 100 65.97 1/23/2008 CR Intrinsic Investments, LLC 49705 66 1/23/2008 S.A.C. Capital Associates, LLC* 25000 65.8 1/23/2008 S.A.C. Capital Associates, LLC 70 65.58 1/23/2008 S.A.C. Capital Associates, LLC 700 65.6 1/23/2008 S.A.C. Capital Associates, LLC 700 65.62 1/23/2008 S.A.C. Capital Associates, LLC 102 65.66 1/23/2008 S.A.C. Capital Associates, LLC 1400 65.67 1/23/2008 S.A.C. Capital Associates, LLC 100 65.68 1/23/2008 S.A.C. Capital Associates, LLC 3562 65.69 1/23/2008 S.A.C. Capital Associates, LLC 1436 65.7 1/23/2008 S.A.C. Capital Associates, LLC 200 65.71 1/23/2008 S.A.C. Capital Associates, LLC 1100 65.72 1/23/2008 S.A.C. Capital Associates, LLC 100 65.74 1/23/2008 S.A.C. Capital Associates, LLC 2930 65.75 1/24/2008 CR Intrinsic Investments, LLC 200 66.145 1/24/2008 CR Intrinsic Investments, LLC 100 66.155 1/24/2008 CR Intrinsic Investments, LLC 200 66.17 1/24/2008 CR Intrinsic Investments, LLC 100 66.18 1/24/2008 CR Intrinsic Investments, LLC 3200 66.23 1/24/2008 CR Intrinsic Investments, LLC 100 66.255 1/24/2008 CR Intrinsic Investments, LLC 3900 66.26 1/24/2008 CR Intrinsic Investments, LLC 400 66.27 1/24/2008 CR Intrinsic Investments, LLC 1100 66.29 1/24/2008 CR Intrinsic Investments, LLC 400 66.295 1/24/2008 CR Intrinsic Investments, LLC 33806 66.3 1/24/2008 CR Intrinsic Investments, LLC 2700 66.31 1/24/2008 CR Intrinsic Investments, LLC 100 66.32 1/24/2008 CR Intrinsic Investments, LLC 1053 66.37 1/24/2008 CR Intrinsic Investments, LLC 10694 66.5 1/24/2008 CR Intrinsic Investments, LLC 26700 66.5073 1/24/2008 CR Intrinsic Investments, LLC 100 66.565 1/24/2008 CR Intrinsic Investments, LLC 1300 66.57 1/24/2008 CR Intrinsic Investments, LLC 200 66.58 1/24/2008 CR Intrinsic Investments, LLC 47 66.59 1/24/2008 CR Intrinsic Investments, LLC 5299 66.6 1/24/2008 CR Intrinsic Investments, LLC 100 66.63 1/24/2008 CR Intrinsic Investments, LLC 1 67.6 1/25/2008 S.A.C. Capital Associates, LLC 100 66.24 1/25/2008 S.A.C. Capital Associates, LLC 1000 66.25 1/31/2008 S.A.C. Capital Associates, LLC (19800) 68 1/31/2008 S.A.C. Capital Associates, LLC (4600) 68.01 1/31/2008 S.A.C. Capital Associates, LLC (800) 68.02 1/31/2008 S.A.C. Capital Associates, LLC (300) 68.03 1/31/2008 S.A.C. Capital Associates, LLC (600) 68.06 1/31/2008 S.A.C. Capital Associates, LLC (37910) 68.5 1/31/2008 S.A.C. Capital Associates, LLC (5500) 68.51 1/31/2008 S.A.C. Capital Associates, LLC (100) 68.515 1/31/2008 S.A.C. Capital Associates, LLC (2800) 68.52 1/31/2008 S.A.C. Capital Associates, LLC (700) 68.53 1/31/2008 S.A.C. Capital Associates, LLC (2490) 68.54 1/31/2008 S.A.C. Capital Associates, LLC (500) 68.6 2/1/2008 S.A.C. Capital Associates, LLC (1600) 69.95 2/1/2008 S.A.C. Capital Associates, LLC (800) 69.96 2/1/2008 S.A.C. Capital Associates, LLC (208) 69.97 2/1/2008 S.A.C. Capital Associates, LLC (300) 69.98 2/1/2008 S.A.C. Capital Associates, LLC (1200) 69.99 2/1/2008 S.A.C. Capital Associates, LLC (100) 69.995 2/1/2008 S.A.C. Capital Associates, LLC (27432) 70 2/1/2008 S.A.C. Capital Associates, LLC (7600) 70.01 2/1/2008 S.A.C. Capital Associates, LLC (1400) 70.02 2/1/2008 S.A.C. Capital Associates, LLC (1900) 70.04 2/1/2008 S.A.C. Capital Associates, LLC (3768) 70.05 * Denotes internal portfolio reallocation EX-99 2 p08-0307exhibit_99.txt EXHIBIT B EXHIBIT B February 5, 2008 Mr. Patrick Mahaffy President & Chief Executive Officer Pharmion Corporation 2525 28th Street Boulder, CO 80301 Dear Mr. Mahaffy, We and our affiliates advise funds holding more than 3.1 million shares of Pharmion Corporation common stock, representing approximately 8.3% of the outstanding shares. We believe that the proposed merger with Celgene Corporation would not fairly compensate Pharmion's shareholders. We see the merits of a potential merger based upon Pharmion's strong commercial products and pipeline and synergies with Celgene's business. However, we believe that Pharmion's shareholders would not receive sufficient value for Pharmion's current products or the opportunity for a higher valuation if competitive data from the Phase III Dacogen EORTC study does not match data already produced by Pharmion's Vidaza. Specifically, we believe Pharmion shareholders should be given a higher consideration to vote for deal prior to seeing the Dacogen data or be allowed to assess the Dacogen EORTC data prior to voting on the merger. Based on our own analyses and those in the published research of numerous sell side analysts, we believe that if Dacogen's survival data are worse than Vidaza's, Vidaza could capture significantly more than half of the MDS market and peak sales could be $100 million to $250 million higher than current projections. If the Dacogen trial fails or produces data that are clearly worse than Vidaza's survival data, we believe Pharmion would be worth $80 - $100 or more as a standalone company versus the $72 per share in stock and cash offered by Celgene. If the proposed merger is completed, Pharmion shareholders' exposure to this upside will be diluted in Celgene's stock. We see the merits of a potential merger with Celgene. However, as the merger is currently proposed, we believe that Pharmion's shareholders would not receive sufficient value for Pharmion's current products or the opportunity for a higher valuation if competitive data from Dacogen does not match data already produced by Pharmion's Vidaza. Sincerely, S.A.C. Capital Advisors, LLC -----END PRIVACY-ENHANCED MESSAGE-----