SECURITIES & EXCHANGE COMMISSION
                             Washington, D.C. 20549
                             ----------------------

                                 SCHEDULE 13G/A


                    Under the Securities Exchange Act of 1934
                                (Amendment No. 1)


                             PHARMERICA CORPORATION
     -----------------------------------------------------------------------
                                (Name of Issuer)

                     Common Stock, $0.01 par value per share
     -----------------------------------------------------------------------
                         (Title of Class of Securities)

                                    71714F104
     -----------------------------------------------------------------------
                                 (CUSIP Number)

                                December 31, 2007
     -----------------------------------------------------------------------
             (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)
----------------
     *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
---------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS
            I.R.S. IDENTIFICATION NO.
            OF ABOVE PERSONS (ENTITIES ONLY)
                                           Lone Spruce, L.P.
---------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                            (a) [X]
                                                            (b) [ ]
---------------------------------------------------------------------------
     (3)    SEC USE ONLY
---------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION
                            Delaware
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
     (9)    AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                                14,648
---------------------------------------------------------------------------
     (10)   CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES **               [ ]
---------------------------------------------------------------------------
     (11)   PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                                0.1%
---------------------------------------------------------------------------
     (12)   TYPE OF REPORTING PERSON **
                                                PN
---------------------------------------------------------------------------
                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!






CUSIP No. 71714F104                 13G/A              Page 3 of 15 Pages
---------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS
            I.R.S. IDENTIFICATION NO.
            OF ABOVE PERSONS (ENTITIES ONLY)
                                           Lone Balsam, L.P.
---------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                            (a) [X]
                                                            (b) [ ]
---------------------------------------------------------------------------
     (3)    SEC USE ONLY
---------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION
                            Delaware
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
     (9)    AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                                32,144
---------------------------------------------------------------------------
     (10)   CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES **               [ ]
---------------------------------------------------------------------------
     (11)   PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                                0.1%
---------------------------------------------------------------------------
     (12)   TYPE OF REPORTING PERSON **
                                                PN
---------------------------------------------------------------------------
                    ** SEE INSTRUCTIONS BEFORE FILLING OUT!






CUSIP No. 71714F104                 13G/A              Page 4 of 15 Pages
---------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS
            I.R.S. IDENTIFICATION NO.
            OF ABOVE PERSONS (ENTITIES ONLY)
                                           Lone Sequoia, L.P.
---------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                            (a) [X]
                                                            (b) [ ]
---------------------------------------------------------------------------
     (3)    SEC USE ONLY
---------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION
                            Delaware
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
     (9)    AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                                26,855
---------------------------------------------------------------------------
     (10)   CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES **               [ ]
---------------------------------------------------------------------------
     (11)   PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                                0.1%
---------------------------------------------------------------------------
     (12)   TYPE OF REPORTING PERSON **
                                                PN
---------------------------------------------------------------------------
                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!






CUSIP No. 71714F104                 13G/A              Page 5 of 15 Pages

---------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS
            I.R.S. IDENTIFICATION NO.
            OF ABOVE PERSONS (ENTITIES ONLY)
                                           Lone Pine Associates LLC
---------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                            (a) [X]
                                                            (b) [ ]
---------------------------------------------------------------------------
     (3)    SEC USE ONLY
---------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION
                            Delaware
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
     (9)    AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                                73,647
---------------------------------------------------------------------------
     (10)   CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES **               [ ]
---------------------------------------------------------------------------
     (11)   PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                                0.2%
---------------------------------------------------------------------------
     (12)   TYPE OF REPORTING PERSON **
                                                OO
---------------------------------------------------------------------------
                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!






CUSIP No. 71714F104                 13G/A              Page 6 of 15 Pages

---------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS
            I.R.S. IDENTIFICATION NO.
            OF ABOVE PERSONS (ENTITIES ONLY)
                                           Lone Pine Capital LLC
---------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                            (a) [X]
                                                            (b) [ ]
---------------------------------------------------------------------------
     (3)    SEC USE ONLY
---------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION
                            Delaware
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
     (9)    AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                                333,250
---------------------------------------------------------------------------
     (10)   CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES **               [ ]
---------------------------------------------------------------------------
     (11)   PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                                1.1%
---------------------------------------------------------------------------
     (12)   TYPE OF REPORTING PERSON **
                                                IA
---------------------------------------------------------------------------
                     ** SEE INSTRUCTIONS BEFORE FILLING OUT!






CUSIP No. 71714F104                 13G/A              Page 7 of 15 Pages

---------------------------------------------------------------------------
     (1)    NAMES OF REPORTING PERSONS
            I.R.S. IDENTIFICATION NO.
            OF ABOVE PERSONS (ENTITIES ONLY)
                                           Stephen F. Mandel, Jr.
---------------------------------------------------------------------------
     (2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
                                                            (a) [X]
                                                            (b) [ ]
---------------------------------------------------------------------------
     (3)    SEC USE ONLY
---------------------------------------------------------------------------
     (4)    CITIZENSHIP OR PLACE OF ORGANIZATION
                            United States
---------------------------------------------------------------------------
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
---------------------------------------------------------------------------
     (9)    AGGREGATE AMOUNT BENEFICIALLY OWNED
            BY EACH REPORTING PERSON
                                                406,897
---------------------------------------------------------------------------
     (10)   CHECK BOX IF THE AGGREGATE AMOUNT
            IN ROW (9) EXCLUDES CERTAIN SHARES **               [ ]
---------------------------------------------------------------------------
     (11)   PERCENT OF CLASS REPRESENTED
            BY AMOUNT IN ROW (9)
                                                1.3%
---------------------------------------------------------------------------
     (12)   TYPE OF REPORTING PERSON **
                                                IN
---------------------------------------------------------------------------
                     ** 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