removing pattern which is spread in multiple lines

Shell Programming and Scripting
1

I have several huge files wich contains oracle table creation scripts as follows:

I would need to remove the pattern colored in red above. Any sed/awk/pearl code will be of much help.

Thanks

2 
perl -i.bck -073 -pe's/PCTFREE.*?(TABLESPACE.*?\n).*?;/$1;/s' file
3

Worked absolutely fine. Thanks a ton!