13F-HR 1 orbimedadvisors2q12.txt FORM 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2012 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: OrbiMed Advisors LLC Address: 601 Lexington Avenue 54th Floor New York, NY 10022 13F File Number: 028-06774 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 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: Samuel D. Isaly Title: Managing Member Phone: (212) 739-6400 Signature, Place, and Date of Signing: /s/ Samuel D. Isaly New York, NY August 14, 2012 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 117 Form 13F Information Table Value Total: $3,637,917 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. No. 13F File Number Name 1 028-10410 OrbiMed Capital LLC 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 DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3SBIO INC SPONSORED ADR 88575Y105 28505 2088300 SH DEFINED 1 1123600 0 964700 ABBOTT LABS COM 002824100 128166 1988000 SH DEFINED 1 660500 0 1327500 AETNA INC NEW COM 00817Y108 42166 1087600 SH DEFINED 1 320000 0 767600 AFFYMAX INC COM 00826A109 25259 1961100 SH DEFINED 1 1123000 0 838100 AFFYMETRIX INC COM 00826T108 31859 6793000 SH DEFINED 1 2978000 0 3815000 AGILENT TECHNOLOGIES INC COM 00846U101 6161 157000 SH DEFINED 1 0 0 157000 ALEXION PHARMACEUTICALS INC COM 015351109 21201 213500 SH DEFINED 1 0 0 213500 ALLERGAN INC COM 018490102 57884 625300 SH DEFINED 1 301000 0 324300 AMARIN CORP PLC SPONS ADR NEW 023111206 17352 1200000 SH SOLE 1200000 0 0 AMGEN INC COM 031162100 18629 255500 SH DEFINED 1 0 0 255500 AMYLIN PHARMACEUTICALS INC COM 032346108 2115 75000 SH DEFINED 1 0 0 75000 ANTARES PHARMA INC COM 036642106 26638 7338400 SH DEFINED 1 4085700 0 3252700 ARENA PHARMACEUTICALS INC COM 040047102 998 100000 SH PUT DEFINED 1 43000 0 57000 ARENA PHARMACEUTICALS INC COM 040047102 5985 600000 SH DEFINED 1 520100 0 79900 ARIAD PHARMACEUTICALS INC COM 04033A100 14962 869400 SH DEFINED 1 238000 0 631400 ARRAY BIOPHARMA INC COM 04269X105 18770 5409100 SH DEFINED 1 2690200 0 2718900 ATHERSYS INC COM 04744L106 2601 1615700 SH SOLE 1615700 0 0 AUXILIUM PHARMACEUTICALS INC COM 05334D107 70454 2620100 SH DEFINED 1 1244500 0 1375600 BAXTER INTL INC COM 071813109 58837 1107000 SH DEFINED 1 552000 0 555000 BIODEL INC COM NEW 09064M204 3600 1395510 SH SOLE 1395510 0 0 BIOGEN IDEC INC COM 09062X103 112241 777400 SH DEFINED 1 385000 0 392400 BIOMARIN PHARMACEUTICAL INC COM 09061G101 54577 1378900 SH DEFINED 1 810800 0 568100 BOSTON SCIENTIFIC CORP COM 101137107 3686 650000 SH DEFINED 1 0 0 650000 BRISTOL MYERS SQUIBB CO COM 110122108 182594 5079100 SH DEFINED 1 2439800 0 2639300 BRISTOL MYERS SQUIBB CO COM 110122108 17867 497000 SH CALL DEFINED 1 209000 0 288000 CARDINAL HEALTH INC COM 14149Y108 5670 135000 SH DEFINED 1 0 0 135000 CAREFUSION CORP COM 14170T101 3978 154900 SH DEFINED 1 0 0 154900 CELGENE CORP COM 151020104 34454 537000 SH DEFINED 1 0 0 537000 CELSION CORPORATION COM NEW 15117N305 4587 1494000 SH DEFINED 1 1264000 0 230000 CHEMOCENTRYX INC COM 16383L106 36071 2404715 SH SOLE 2404715 0 0 CIGNA CORPORATION COM 125509109 15312 348000 SH DEFINED 1 300000 0 48000 COMPLETE GENOMICS INC COM 20454K104 7775 4157936 SH SOLE 4157936 0 0 COVANCE INC COM 222816100 2297 48000 SH DEFINED 1 0 0 48000 CUBIST PHARMACEUTICALS INC COM 229678107 5470 144300 SH DEFINED 1 0 0 144300 CUBIST PHARMACEUTICALS INC NOTE 2.500%11/0 229678AD9 2881 2000000 PRN DEFINED 1 0 0 2000000 DAVITA INC COM 23918K108 6384 65000 SH DEFINED 1 0 0 65000 DENDREON CORP COM 24823Q107 34244 4627600 SH DEFINED 1 2760900 0 1866700 DENDREON CORP NOTE 2.875% 1/1 24823QAC1 4498 6500000 PRN DEFINED 1 0 0 6500000 EDWARDS LIFESCIENCES CORP COM 28176E108 5165 50000 SH DEFINED 1 0 0 50000 ELAN PLC ADR 284131208 48439 3320000 SH DEFINED 1 2127700 0 1192300 ELAN PLC ADR 284131208 2918 200000 SH CALL DEFINED 1 86500 0 113500 ENDOCYTE INC COM 29269A102 15256 1856000 SH DEFINED 1 891000 0 965000 EXACT SCIENCES CORP COM 30063P105 40636 3790700 SH DEFINED 1 2055300 0 1735400 EXACT SCIENCES CORP COM 30063P105 1072 100000 SH CALL DEFINED 1 43000 0 57000 EXACT SCIENCES CORP COM 30063P105 1072 100000 SH PUT DEFINED 1 43000 0 57000 EXPRESS SCRIPTS HLDG CO COM 30219G108 100358 1797570 SH DEFINED 1 919800 0 877770 EXPRESS SCRIPTS HLDG CO COM 30219G108 19401 347500 SH CALL DEFINED 1 145000 0 202500 FLUIDIGM CORP DEL COM 34385P108 15551 1034000 SH DEFINED 1 272000 0 762000 FOREST LABS INC COM 345838106 4199 120000 SH DEFINED 1 0 0 120000 GILEAD SCIENCES INC COM 375558103 150199 2929000 SH DEFINED 1 1353000 0 1576000 GIVEN IMAGING ORD SHS M52020100 12940 819000 SH DEFINED 1 424000 0 395000 HCA HOLDINGS INC COM 40412C101 42864 1408600 SH DEFINED 1 765600 0 643000 HI-TECH PHARMACAL INC COM 42840B101 5378 166000 SH DEFINED 1 99000 0 67000 HOLOGIC INC COM 436440101 4510 250000 SH DEFINED 1 0 0 250000 HOSPIRA INC COM 441060100 5247 150000 SH PUT DEFINED 1 64500 0 85500 HUMANA INC COM 444859102 58041 749500 SH DEFINED 1 359000 0 390500 IDENIX PHARMACEUTICALS INC COM 45166R204 4503 438000 SH DEFINED 1 378000 0 60000 ILLUMINA INC COM 452327109 8078 200000 SH CALL DEFINED 1 86000 0 114000 ILLUMINA INC COM 452327109 66813 1654200 SH DEFINED 1 804300 0 849900 IMMUNOGEN INC COM 45253H101 38638 2308100 SH DEFINED 1 1276500 0 1031600 IMPAX LABORATORIES INC COM 45256B101 48715 2403300 SH DEFINED 1 1225300 0 1178000 INCYTE CORP COM 45337C102 84051 3702700 SH DEFINED 1 1976400 0 1726300 INCYTE CORP COM 45337C102 6810 300000 SH CALL DEFINED 1 137500 0 162500 INCYTE CORP NOTE 4.750%10/0 45337CAJ1 23007 8679000 PRN DEFINED 1 3187000 0 5492000 INSULET CORP COM 45784P101 16669 780000 SH SOLE 780000 0 0 ISHARES TR NASDQ BIO INDX 464287556 19494 150000 SH PUT DEFINED 1 64500 0 85500 JOHNSON & JOHNSON COM 478160104 30463 450900 SH DEFINED 1 0 0 450900 LIFE TECHNOLOGIES CORP COM 53217V109 91960 2044000 SH DEFINED 1 1019000 0 1025000 LILLY ELI & CO COM 532457108 11650 271500 SH CALL DEFINED 1 229500 0 42000 MAP PHARMACEUTICALS INC COM 56509R108 12579 841400 SH DEFINED 1 616000 0 225400 MASIMO CORP COM 574795100 5617 251000 SH DEFINED 1 191000 0 60000 MCKESSON CORP COM 58155Q103 7125 76000 SH DEFINED 1 0 0 76000 MEDIVATION INC COM 58501N101 3108 34000 SH DEFINED 1 0 0 34000 MEDTRONIC INC COM 585055106 4260 110000 SH DEFINED 1 0 0 110000 MERCK & CO INC NEW COM 58933Y105 145353 3481500 SH DEFINED 1 1312700 0 2168800 NATUS MEDICAL INC DEL COM 639050103 16497 1419700 SH DEFINED 1 876800 0 542900 NEUROCRINE BIOSCIENCES INC COM 64125C109 32892 4166200 SH DEFINED 1 2035200 0 2131000 NPS PHARMACEUTICALS INC COM 62936P103 21003 2439400 SH DEFINED 1 1368000 0 1071400 NXSTAGE MEDICAL INC COM 67072V103 45757 2730143 SH SOLE 2730143 0 0 ONCOTHYREON INC COM 682324108 6767 1446000 SH DEFINED 1 701000 0 745000 ONYX PHARMACEUTICALS INC COM 683399109 110194 1658300 SH DEFINED 1 836900 0 821400 ORASURE TECHNOLOGIES INC COM 68554V108 53896 4795000 SH DEFINED 1 2965000 0 1830000 OREXIGEN THERAPEUTICS INC COM 686164104 2632 475000 SH DEFINED 1 0 0 475000 PACIRA PHARMACEUTICALS INC COM 695127100 32080 2000000 SH SOLE 2000000 0 0 PERNIX THERAPEUTICS HLDGS IN COM 71426V108 17613 2416000 SH DEFINED 1 1545000 0 871000 PERRIGO CO COM 714290103 13892 117800 SH DEFINED 1 0 0 117800 PFIZER INC COM 717081103 234269 10185600 SH DEFINED 1 3913200 0 6272400 QUESTCOR PHARMACEUTICALS INC COM 74835Y101 70399 1322300 SH DEFINED 1 619200 0 703100 REGENERON PHARMACEUTICALS COM 75886F107 23164 202800 SH DEFINED 1 106000 0 96800 SALIX PHARMACEUTICALS INC COM 795435106 3816 70100 SH DEFINED 1 0 0 70100 SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 11403 300000 SH PUT DEFINED 1 129500 0 170500 SEQUENOM INC COM NEW 817337405 26431 6510000 SH DEFINED 1 3821000 0 2689000 SHIRE PLC SPONSORED ADR 82481R106 27325 316300 SH DEFINED 1 136900 0 179400 SINOVAC BIOTECH LTD SHS P8696W104 317 150000 SH SOLE 150000 0 0 SOLTA MED INC COM 83438K103 1338 456800 SH DEFINED 1 245300 0 211500 ST JUDE MED INC COM 790849103 5787 145000 SH DEFINED 1 0 0 145000 STRYKER CORP COM 863667101 6325 114800 SH DEFINED 1 0 0 114800 SUPERNUS PHARMACEUTICALS INC COM 868459108 33696 3599998 SH SOLE 3599998 0 0 SYNERON MEDICAL LTD ORD SHS M87245102 3633 350000 SH DEFINED 1 199000 0 151000 THERMO FISHER SCIENTIFIC INC COM 883556102 55876 1076400 SH DEFINED 1 554600 0 521800 UNITEDHEALTH GROUP INC COM 91324P102 82485 1410000 SH DEFINED 1 637000 0 773000 UROPLASTY INC COM NEW 917277204 7280 1586000 SH DEFINED 1 1366000 0 220000 VALEANT PHARMACEUTICALS INTL COM 91911K102 6181 138000 SH DEFINED 1 0 0 138000 VERASTEM INC COM 92337C104 3961 408800 SH DEFINED 1 297500 0 111300 VERTEX PHARMACEUTICALS INC COM 92532F100 6654 119000 SH DEFINED 1 0 0 119000 VERTEX PHARMACEUTICALS INC COM 92532F100 16776 300000 SH PUT DEFINED 1 127500 0 172500 VIVUS INC COM 928551100 73716 2582900 SH DEFINED 1 1290800 0 1292100 VIVUS INC COM 928551100 4281 150000 SH CALL DEFINED 1 63500 0 86500 VOLCANO CORPORATION COM 928645100 5300 185000 SH DEFINED 1 0 0 185000 VOLCANO CORPORATION NOTE 2.875% 9/0 928645AA8 1806 1500000 PRN DEFINED 1 0 0 1500000 WARNER CHILCOTT PLC IRELAND SHS A G94368100 65224 3637700 SH DEFINED 1 2047200 0 1590500 WARNER CHILCOTT PLC IRELAND SHS A G94368100 5379 300000 SH CALL DEFINED 1 129500 0 170500 WATSON PHARMACEUTICALS INC COM 942683103 84186 1137800 SH DEFINED 1 693200 0 444600 WATSON PHARMACEUTICALS INC COM 942683103 7399 100000 SH CALL DEFINED 1 43000 0 57000 WELLPOINT INC COM 94973V107 84011 1317000 SH DEFINED 1 638000 0 679000 XOMA CORP DEL COM 98419J107 10016 3361100 SH DEFINED 1 2192000 0 1169100 ZIMMER HLDGS INC COM 98956P102 37393 581000 SH DEFINED 1 227000 0 354000