{ "schemaVersion": "deck-intelligence.v1", "id": "019de077-4c75-7299-85f2-8570aa012761", "slug": "bc27eff688e591dce79cc29b4a79cc4b", "title": "Starboard Value | Activist Presentation Deck | 74 slides", "subtitle": "Starboard Value · 2024-10", "author": "Starboard Value", "date": "2024-10-01 00:00:00", "pageCount": 74, "kind": "activist-deck", "orientation": "landscape", "aspectRatio": 1.7777778, "document": { "id": "019de077-4c75-7299-85f2-8570aa012761", "slug": "bc27eff688e591dce79cc29b4a79cc4b", "title": "Starboard Value | Activist Presentation Deck | 74 slides", "rawTitle": "Starboard Value | Activist Presentation Deck | 74 slides", "authorId": "starboard-value", "authorName": "Starboard Value", "authorDisplay": "Starboard Value", "kind": { "slug": "activist-deck", "label": "Activist deck" }, "sourceType": { "slug": "activist_investor", "label": "Activist investor" }, "fileName": "2024-10__starboard-value__activist__bc27eff6.pdf", "sourceUrl": "https://www.slidebook.io/company/starboard-value/presentation/bc27eff688e591dce79cc29b4a79cc4b/", "sourceDate": "2024-10-15 00:00:00", "presentationDate": "2024-10-01 00:00:00", "ingestedAt": "2026-04-30 22:16:48.089521+00", "status": "ready", "pageCount": 74, "orientation": "landscape", "aspectRatio": 1.7777778, "targetCompany": null, "targetTicker": null, "metadata": { "corpus": "slidebook", "industry": "asset-management", "local_root": "/Users/miguelsuredasuau/Desktop/lalalalla/_scrape/slidebook/decks/2024-10__starboard-value__activist__bc27eff6", "image_width": 1920, "image_format": "jpg", "deck_type_raw": "Activist Presentation Deck", "deck_type_slug": null, "source_url_pattern": "https://www.slidebook.io/company/{company_slug}/presentation/{deck_id}/" } }, "coverage": { "pageCount": 74, "pagesIndexed": 74, "pagesWithImages": 74, "pagesWithMetadata": 74, "imageCoveragePct": 100, "metadataCoveragePct": 100, "componentCount": 364, "chartCount": 33, "metricSlides": 0, "toolMatches": 9, "documentToolMatches": 0, "frameworkMatches": 57, "arcMatches": 1, "beatMatches": 3, "loopMatches": 3, "patternMatches": 0, "storymakersMatch": false, "scoreAvailable": false, "reviewAvailable": false, "activistThesisAvailable": false, "pitchdeckMetadataAvailable": false, "pitchdeckProfileAvailable": false }, "blocks": [], "matches": { "arcs": [ { "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "evidence": "The document follows the problem-agitate-solution narrative shape, presenting a clear problem, agitating it, and proposing a solution.", "isPrimary": true, "confidence": 0.8, "extraction": { "at": "2026-07-16 22:45:15.514952+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "beats": [ { "to": 10, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 10, "name": "Problem (Identify pain)", "beatId": "b43751cc-2861-4624-85bf-36320668ccd9", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Problem (Identify pain)", "slug": "problem-agitate-solution-problem-identify-pain", "status": "active", "canonId": "019dd9b8-0e78-74bb-b8f6-54348367a131", "version": 1, "description": null }, "evidence": "The document identifies Pfizer's market value decline as the problem.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 12, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null, "categoryName": "Analysis", "categorySlug": "analysis" }, "matchId": "5022ccdf-4dc3-4ffa-8bea-f9ccda118289", "evidence": "The document presents a series of slides exposing contradictions between Pfizer's claims and actual results, revealing the iceberg-like issues beneath the surface.", "position": 0, "objective": "What are the reasons behind Pfizer's lack of internal innovation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.681184+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } }, { "to": 50, "from": 42, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null, "categoryName": "Urgency", "categorySlug": "urgency" }, "matchId": "5cfd6c38-7f54-40a4-89ca-d5f3ce72ca30", "evidence": "The document highlights the costs of Pfizer's poor capital allocation, including overpaying for acquisitions and losing value.", "position": 1, "objective": "What are the consequences of Pfizer's poor capital allocation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.723116+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } }, { "to": 70, "from": 66, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null, "categoryName": "Consulting Framework", "categorySlug": "consulting-framework" }, "matchId": "3e7f589c-1016-46fa-a786-ecdd6d3310b8", "evidence": "The document proposes a breakdown of Pfizer's R&D investments and suggests that the company needs to achieve higher revenue growth based on its R&D and M&A investments.", "position": 2, "objective": "How can Pfizer improve its return on R&D investments?", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:45:15.764241+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "tools": [ { "tool": { "name": "Executive summary", "slug": "executive-summary", "status": "active", "bestFor": null, "canonId": "019dd9e1-4b63-72d5-9734-da757d91ca61", "version": 1, "bodyDocId": null, "description": "A condensed view of the entire argument on a single slide / block.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "e00187bd-ed5a-4532-88d0-ee1f138db6b1", "evidence": "Pfizer serves a critical role in society that positively impacts millions of patient lives", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:48:28.118804+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 3, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Chartjunk Elimination", "slug": "chartjunk-elimination", "status": "active", "bestFor": null, "canonId": "019dd956-b49e-7453-ab01-b60f338eeda1", "version": 1, "bodyDocId": null, "description": "Remove decorative elements that don't convey data: 3D effects, shadows, unnecessary gridlines", "familyLabel": null, "categoryName": "Slide", "categorySlug": "slide" }, "agent": "Designer", "layer": "slide", "agents": [ "Designer" ], "matchId": "6cbc626e-8bd9-46c6-9531-ef44c973fe66", "evidence": "U.S.A. COVID-19 Daily Deaths vs. Cumulative Vaccination Rates", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.6, "extraction": { "at": "2026-07-17 00:48:28.232471+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 5, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Waterfall chart", "slug": "waterfall-chart", "status": "active", "bestFor": null, "canonId": "e2799da3-725f-44a9-a093-570f1f388e64", "version": 1, "bodyDocId": null, "description": null, "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "9e55abc9-24f6-419e-9a83-94478d914159", "evidence": "Annual Free Cash Flow", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-17 00:48:28.306548+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 6, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Waterfall / value bridge", "slug": "waterfall-bridge", "status": "active", "bestFor": null, "canonId": "019de52d-19c5-727e-8889-b0b361655fca", "version": 1, "bodyDocId": null, "description": null, "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "71946ff1-d038-4fb4-97d4-9ca61d79cec1", "evidence": "Pfizer Share Price: 2018 to Now", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:48:28.419583+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 8, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Comparison frame", "slug": "comparison-frame", "status": "active", "bestFor": null, "canonId": "019dd9e1-484b-7399-a4fc-d14644b99f93", "version": 1, "bodyDocId": null, "description": "Two or more states/subjects placed side by side to expose a gap.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "57a6de55-4112-474b-96e4-3dcbcdb836a7", "evidence": "comparison_table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-17 03:40:41.1106+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 45, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Waterfall chart", "slug": "waterfall-chart", "status": "active", "bestFor": null, "canonId": "e2799da3-725f-44a9-a093-570f1f388e64", "version": 1, "bodyDocId": null, "description": null, "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "d307b259-a2eb-4bdc-b653-c288919c4a8a", "evidence": "chart/waterfall-bridge: Pfizer Sales Bridge (Ex. COVID): 2023 to 2030", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-17 00:48:27.231874+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 69, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Waterfall chart", "slug": "waterfall-chart", "status": "active", "bestFor": null, "canonId": "e2799da3-725f-44a9-a093-570f1f388e64", "version": 1, "bodyDocId": null, "description": null, "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "c607a8a8-2756-4f70-98ae-b2086f384359", "evidence": "chart/waterfall-bridge: Pfizer Sales Bridge (Ex. COVID): 2023 to 2030", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-17 00:48:27.313719+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 70, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Slide recipe: the peer-gap chart", "slug": "peer-gap-chart-recipe", "status": "active", "bestFor": null, "canonId": "019df269-2b04-75bc-ad85-e0179264bdd7", "version": 1, "bodyDocId": "019df269-2ae1-771d-9cd1-193a2e25f21c", "description": "The single most-copied slide in activism. This is the exact layout, used", "familyLabel": "slide-recipe", "categoryName": "Slide", "categorySlug": "slide" }, "agent": "designer", "layer": "slide", "agents": [ "designer" ], "matchId": "2592a33d-a4bc-4e06-b669-318717714c4c", "evidence": "chart/bar-vertical: P / CY25 EPS", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-17 00:48:27.476148+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 73, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Slide recipe: Cover", "slug": "cover-slide", "status": "active", "bestFor": null, "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3", "version": 1, "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65", "description": "The first ten seconds. Build it deliberately.", "familyLabel": "slide-recipe", "categoryName": "Slide", "categorySlug": "slide" }, "agent": "designer", "layer": "slide", "agents": [ "designer" ], "matchId": "d38ed817-555e-4c3d-9129-7d0107b71730", "evidence": "image/logo: STARBOARD VALUE", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:48:27.559267+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 74, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "24b33e61-1288-4e6e-9e87-418a103ae781", "evidence": "Categorization of products into Primary Care, Speciality Care, and Oncology segments.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:53:59.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 3, "frameworkName": "market-segmentation-pyramid" }, { "matchId": "37706686-a862-4e7b-aede-70b9ad1f2163", "evidence": "Uses news clippings to validate claims of leadership and first-to-market status.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:56.526+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 4, "frameworkName": "authority-citation" }, { "matchId": "a28b580d-f845-4e7c-bfd8-daaf3572c943", "evidence": "The slide uses a clear, thesis-driven headline and a summary action-title at the bottom.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:53:56.081+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 6, "frameworkName": "action-titles" }, { "matchId": "ab8a11a3-1e77-4d9b-b0f3-dd280bfef4d3", "evidence": "Direct comparison of stock performance against benchmarks", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:01.32+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 7, "frameworkName": "comparison_frame" }, { "matchId": "d1ab130c-efae-4ff3-9229-aef249ec3598", "evidence": "The slide uses a bridge structure to reconcile the change in market value.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:53:56.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 8, "frameworkName": "waterfall-bridge" }, { "matchId": "f64068b5-33a9-4230-a050-49fe619d1c07", "evidence": "Comparison of PFE valuation against peer group median", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:56.462+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 9, "frameworkName": "comparison_frame" }, { "matchId": "3efd491b-ba95-468f-aa0a-bd2fffc1afe8", "evidence": "The slide links operational causes (A-D) to financial consequences (valuation/growth) and the ultimate outcome (market value loss).", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:56.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 10, "frameworkName": "causal-chain" }, { "matchId": "90cf13e9-e6af-4ef5-b687-72b9490bcbcd", "evidence": "Comparison of Pfizer's pipeline against a defined peer group.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:53:57.364+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 12, "frameworkName": "peer-benchmark" }, { "matchId": "40628060-87dd-4ec7-abc9-dfbe15ac7f8c", "evidence": "Uses quotes from major financial institutions to validate the thesis.", "framework": null, "confidence": 0.95, "extraction": { "at": "2026-05-02 10:53:57.821+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 13, "frameworkName": "authority-citation" }, { "matchId": "b7ab879f-5f4a-4127-a567-5b5db849fb49", "evidence": "The slide presents a series of quotes to build a case for management's inconsistency or over-promising.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 14, "frameworkName": "ceo-quote-contradiction" }, { "matchId": "d1a6c383-43f4-49bf-af83-69711b6b4214", "evidence": "Uses a past CEO quote to set a benchmark for future performance evaluation.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:57.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 15, "frameworkName": "ceo-quote-contradiction" }, { "matchId": "af868e3e-9711-4c2e-a49b-ca72631714ba", "evidence": "Used to highlight a discrepancy between past management projections and current reality.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:57.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 16, "frameworkName": "fraud-exposure" }, { "matchId": "2d1db5fb-7cac-4335-b759-f3e2b795dc1b", "evidence": "The slide highlights specific data points to contradict the company's optimistic 'Up to 15 in 5' narrative.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:57.83+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 18, "frameworkName": "fraud-exposure" }, { "matchId": "36038d4c-1ae7-44c7-96a1-c3fb63a3fac3", "evidence": "Uses company's own historical data to highlight failure to meet stated targets.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:57.619+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 19, "frameworkName": "fraud-exposure" }, { "matchId": "693e8066-6a72-41a8-ae86-de9cd38166b0", "evidence": "Exposing the failure of a drug to meet stated blockbuster expectations to critique management.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:53:58.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 20, "frameworkName": "fraud-exposure" }, { "matchId": "3cc5ee4f-ec7f-4b81-a600-085e87002ce5", "evidence": "Uses external media to expose failure/contradiction in company narrative.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:53:57.139+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 21, "frameworkName": "fraud-exposure" }, { "matchId": "681af716-5a06-4008-87b1-20068f6d45b2", "evidence": "Compares projected sales against a defined industry benchmark ($1B blockbuster threshold).", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:58.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 23, "frameworkName": "comparison-frame" }, { "matchId": "a4554448-632e-4a14-b4d6-4465cca4dd12", "evidence": "The slide highlights a specific failure in clinical trials to contradict company narrative.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:53:58.471+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 24, "frameworkName": "fraud-exposure" }, { "matchId": "81caf0c8-1626-493c-83ba-f2f0ebf0a87d", "evidence": "Uses a primary source press release to validate a corporate claim.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:58.554+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 25, "frameworkName": "authority-citation" }, { "matchId": "3208a1f0-8955-4d0a-8dd7-7315834f527f", "evidence": "Use of Wall Street analyst quotes to validate competitive threat thesis.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:59.724+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 26, "frameworkName": "authority-citation" }, { "matchId": "adc66463-3445-4441-9fd6-6ce2230102ec", "evidence": "The slide highlights a specific failure in clinical trials to undermine the company's R&D track record.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:53:59.399+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 27, "frameworkName": "fraud-exposure" }, { "matchId": "3fcfca06-eb04-479e-bfa2-ec489b842cde", "evidence": "Uses a direct press release excerpt to validate the claim of clinical success.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:58.516+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 28, "frameworkName": "authority-citation" }, { "matchId": "74874e1a-5dd0-45ed-8b1e-ec180aee59ab", "evidence": "The slide juxtaposes the CEO's stated purpose (innovation) against the market's measurement (shareholder return) to expose a strategic tension.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:59.41+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 30, "frameworkName": "ceo-quote-contradiction" }, { "matchId": "3c041290-2695-47c6-9170-ef60400d7f18", "evidence": "Contrasts a 2019 management promise with the activist's current critique of failure.", "framework": null, "confidence": 0.95, "extraction": { "at": "2026-05-02 10:53:58.869+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 31, "frameworkName": "before-after-framing" }, { "matchId": "8098c6b1-6c43-464b-8da8-6fbd3569d904", "evidence": "Uses executive quotes to establish a baseline expectation that is later challenged.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 32, "frameworkName": "ceo-quote-contradiction" }, { "matchId": "0997a702-6aa6-4932-8823-acfe48357bb3", "evidence": "Uses Goldman Sachs and J.P. Morgan quotes to validate the argument.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:00.477+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 34, "frameworkName": "authority-citation" }, { "matchId": "4901dfe5-e51a-4329-b2f5-59de9a3d0184", "evidence": "Comparing Pfizer's revenue growth against a peer group median.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:59.768+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 38, "frameworkName": "comparison_frame" }, { "matchId": "851bbdab-cb79-40db-9ea5-91bc1f97e745", "evidence": "Comparing Pfizer's growth metrics against a defined peer group median.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:00.962+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 39, "frameworkName": "comparison_frame" }, { "matchId": "751ccb86-73d6-4457-84de-8e9e7db6521c", "evidence": "Benchmarking PFE against a peer group to highlight performance gap.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:01.207+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 40, "frameworkName": "comparison-frame" }, { "matchId": "7a2f1f47-8a3f-4455-9281-02e9c13276b0", "evidence": "The slide critiques the company's use of cash for M&A versus other potential uses.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 42, "frameworkName": "capital-allocation-framework" }, { "matchId": "837344b1-5581-4d8d-80bd-f888510f7ee1", "evidence": "The slide contrasts management's optimistic revenue projections with the high cost of acquisition to imply poor performance.", "framework": null, "confidence": 0.85, "extraction": { "at": "2026-05-02 10:54:01.109+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 43, "frameworkName": "fraud-exposure" }, { "matchId": "4a928bc5-e56a-4581-b60a-887315c261d1", "evidence": "Comparing Pfizer's deal multiples against a 10-year industry median to demonstrate overpayment.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:00.785+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 44, "frameworkName": "comparison_frame" }, { "matchId": "4a68c32e-4b7f-462a-8045-4b110bac9ca5", "evidence": "Direct comparison between management expectations and market consensus to highlight a performance gap.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:04.137+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 45, "frameworkName": "comparison_frame" }, { "matchId": "ec99d804-37cc-4398-9634-ec272f9d0556", "evidence": "The slide calculates value based on different multiples to show a delta.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 47, "frameworkName": "valuation-bridge" }, { "matchId": "7b7eee2c-8199-4932-b421-6df9e216d3f9", "evidence": "Uses press release data to highlight a valuation discrepancy or strategic critique.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:01.913+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 48, "frameworkName": "fraud-exposure" }, { "matchId": "1aff7d43-97bd-4b45-9b04-c5986af3557f", "evidence": "Uses a company's own press release to expose a negative outcome that contradicts previous investment thesis.", "framework": null, "confidence": 0.85, "extraction": { "at": "2026-05-02 10:54:02.31+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 49, "frameworkName": "fraud-exposure" }, { "matchId": "8950a3b7-13c3-43f8-bb9e-85ef2e648b86", "evidence": "Exposing poor performance track record to undermine management credibility.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:03.609+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 52, "frameworkName": "fraud-exposure" }, { "matchId": "b07a3c7a-4eca-4906-9693-00d46eb08121", "evidence": "Direct comparison of Pfizer's performance metrics against a defined peer group.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:02.332+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 53, "frameworkName": "comparison-frame" }, { "matchId": "e8f7762e-02d8-4745-afe8-da521f0d5c94", "evidence": "Direct comparison of management guidance vs actual results to prove incompetence.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:54:01.695+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 54, "frameworkName": "expose_contradiction" }, { "matchId": "5025c666-0b44-4b1e-8373-a29e45461317", "evidence": "The slide contrasts management's recognition of inventory build-up with their optimistic 2023 guidance to imply a contradiction.", "framework": null, "confidence": 0.85, "extraction": { "at": "2026-05-02 10:54:02.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 55, "frameworkName": "fraud-exposure" }, { "matchId": "f6c1cc21-2f04-4805-91a3-d17a4854dd82", "evidence": "Contrasts management's past optimistic projections with the implied reality of the activist's critique.", "framework": null, "confidence": 0.85, "extraction": { "at": "2026-05-02 10:54:02.76+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 56, "frameworkName": "ceo-quote-contradiction" }, { "matchId": "f8d8ee84-ee63-4f4e-941e-bb4dce456231", "evidence": "Highlighting a significant miss in guidance to imply management failure.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:02.37+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 57, "frameworkName": "fraud-exposure" }, { "matchId": "60d24a8c-0b85-42f5-a444-5ae13e8aeeb4", "evidence": "Highlights discrepancy between management guidance and actual results to undermine credibility.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 15:30:02.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 58, "frameworkName": "fraud-exposure" }, { "matchId": "d5453aaa-69d2-4a6e-9937-dc832d28ef8c", "evidence": "Compares market consensus (before/expectation) to company guidance (after/reality) to highlight a performance gap.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:06.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 59, "frameworkName": "before-after-framing" }, { "matchId": "e452627e-03e7-43f2-8f97-7b0a98974374", "evidence": "Use of Wall Street analyst quotes to validate the thesis.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:03.237+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 60, "frameworkName": "authority-citation" }, { "matchId": "1f386f6e-6dcd-4642-bdeb-75f777827ef3", "evidence": "Using CEO quote to validate activist thesis", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:03.199+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 62, "frameworkName": "authority-citation" }, { "matchId": "b3373b4a-e274-44c6-8270-bcf818b040ec", "evidence": "Comparing company performance against market indices to establish underperformance.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:03.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 63, "frameworkName": "comparison-frame" }, { "matchId": "7733716f-a76c-4d39-9629-863e02cb4966", "evidence": "Uses company's own slide to contradict their claims of innovation.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:03.68+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 64, "frameworkName": "ceo-quote-contradiction" }, { "matchId": "668576f9-4372-4ddb-b3f2-8e4f6860c50f", "evidence": "The slide explicitly discusses the importance of capital allocation and management accountability.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:03.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 65, "frameworkName": "capital-allocation-framework" }, { "matchId": "f68413d7-63a3-470a-9522-582067607544", "evidence": "Benchmarking Pfizer's R&D efficiency against a peer group.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:06.614+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 66, "frameworkName": "comparison_frame" }, { "matchId": "d98c2669-edbe-4531-863f-0e280e82911f", "evidence": "Calculation of ROI (Return on Investment) for R&D and M&A spend.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:04.352+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 67, "frameworkName": "analytical-method" }, { "matchId": "bd4a767d-6ba1-46f1-aef1-248e5d71a6ab", "evidence": "Visual representation of revenue growth components", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:54:04.693+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 68, "frameworkName": "waterfall-bridge" }, { "matchId": "e83a1919-1cff-424f-8aed-c11207307f09", "evidence": "The slide uses a mathematical sequence of additions and subtractions to arrive at a required incremental growth figure.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:54:04.249+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 69, "frameworkName": "revenue-buildup" }, { "matchId": "8c81d915-6ad6-46af-a58d-7e1e87ddad12", "evidence": "The slide uses a standard waterfall chart to bridge 2023 revenue to 2030 pro forma revenue.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:54:06.829+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 70, "frameworkName": "waterfall-bridge" }, { "matchId": "4e5e0fff-6434-4435-86f2-24e407ef83ce", "evidence": "The diagram at the bottom links the target return to the financial outcome.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:06.773+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 71, "frameworkName": "causal-chain" }, { "matchId": "78555a96-3f3d-4c85-a8b9-3faec263d515", "evidence": "Focus on holding management accountable for R&D and M&A returns.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:05.551+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 72, "frameworkName": "capital-allocation-framework" }, { "matchId": "124accad-b0c4-4b3f-aebb-7a4a6411b237", "evidence": "Peer valuation benchmarking", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:04.845+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 73, "frameworkName": "comparison_frame" } ], "patterns": [] }, "storymakers": null, "score": null, "review": null, "activistThesis": null, "pitchdeck": { "metadata": null, "profile": null }, "slides": [ { "page": 1, "type": "setup", "function": "front_matter", "imagePath": "https://imgproxy.kitesheet.com/qx-v9lipYxcCmxsO-dqYDBcishwLrNiQyCnkgX5n6Mk/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iYzI3ZWZmNjg4ZTU5MWRjZTc5Y2MyOWI0YTc5Y2M0Yi9wMDAxLmpwZw", "rawType": "cover", "block": null, "metadata": { "slideType": "cover", "slideTypeCanon": { "name": "Cover", "slug": "cover", "status": "active", "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 19, "componentCount": 5, "textChars": 294, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:55.371+00", "seconds": 2.714, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/1", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-1", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.07, "w": 0.94, "x": 0.03, "y": 0.91 }, "kind": "disclaimer", "text": "This presentation is for discussion and general informational purposes only. Under no circumstances is this presentation to be used or considered as an offer to sell or a solicitation of an offer to buy any security.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:55.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6b0683bb-9f52-453e-9910-c01a58c51ad9", "parentComponentId": null }, { "bbox": { "h": 0.11, "w": 0.27, "x": 0.03, "y": 0.17 }, "kind": "image", "text": "Starboard Value logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:55.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b155c9b4-348a-424c-8e97-4f7163fe4657", "parentComponentId": null }, { "bbox": { "h": 0.24, "w": 0.32, "x": 0.34, "y": 0.38 }, "kind": "image", "text": "Pfizer logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:55.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ddb1e68b-ff0f-46a6-9c10-960b85b494a1", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.52, "x": 0.24, "y": 0.69 }, "kind": "title", "text": "2024 Active-Passive Investor Summit", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:55.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3ce69a03-4be7-4d22-9013-aae81b754064", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.12, "x": 0.44, "y": 0.82 }, "kind": "title", "text": "October 2024", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:55.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8af4ebc9-9857-41fb-b58a-a521cb4f4425", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "thumbSrc": "https://imgproxy.kitesheet.com/mfaDXL6M_CLMXnT_-kTPnvV91bwKtFl6X7wOY9MVeIg/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iYzI3ZWZmNjg4ZTU5MWRjZTc5Y2MyOWI0YTc5Y2M0Yi9wMDAxLmpwZw", "imagePathAlt": "https://imgproxy.kitesheet.com/IuFKaEzaAMECSq_lRinmzsQF2GjP0qBqWNOfitmuzHg/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iYzI3ZWZmNjg4ZTU5MWRjZTc5Y2MyOWI0YTc5Y2M0Yi9wMDAxLnBuZw", "thumbSrcAlt": "https://imgproxy.kitesheet.com/9bk-o7WQ2PbzMWybylxcgchdfrVp5vP0joK1faCf7nk/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iYzI3ZWZmNjg4ZTU5MWRjZTc5Y2MyOWI0YTc5Y2M0Yi9wMDAxLnBuZw" }, { "page": 2, "type": "setup", "function": "other", "rawType": "disclaimer", "block": null, "metadata": { "slideType": "disclaimer", "slideTypeCanon": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "019de52d-0801-727b-b98a-5ed095aeee78", "version": 1, "description": null }, "function": "other", "functionCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce", "version": 1, "description": null }, "density": "sparse", "densityScore": 9, "componentCount": 3, "textChars": 256, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:57.576+00", "seconds": 4.818, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/2", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-2", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.75, "w": 0.86, "x": 0.07, "y": 0.14 }, "kind": "disclaimer", "text": "Except where otherwise indicated herein, this presentation is as of the date indicated on the cover, is not complete and is subject to change. This presentation is for general information purposes only...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.576+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7514222c-5c66-4a9f-aa7f-194cea1d074b", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.1, "x": 0.45, "y": 0.91 }, "kind": "paragraph", "text": "© Starboard Value 2024\nAll Rights Reserved", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.576+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "44cc0391-a4a6-4051-a387-73709f7cd333", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.15, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "Disclaimer", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.576+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "02273483-29fd-4ea3-a118-2d2cfe20c110", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 3, "type": "setup", "title": "The slide uses a segmentation framework to highlight the company's market presence and societal impact.", "function": "summarize", "rawType": "executive_summary", "block": null, "metadata": { "slideType": "executive_summary", "slideTypeCanon": { "name": "Executive summary", "slug": "executive_summary", "status": "active", "canonId": "019de52d-06be-73ff-81b3-f99fe7f0025e", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "balanced", "densityScore": 27, "componentCount": 5, "textChars": 382, "nDataPoints": 3, "notes": "The slide uses a segmentation framework to highlight the company's market presence and societal impact.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:59.164+00", "seconds": 6.295, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/3", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-3", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.82 }, "kind": "callout", "text": "Pfizer serves a critical role in society that positively impacts millions of patient lives", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6e09282f-6e9b-4a8a-ac80-bac39d8db647", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company filings and website. (1) Represents 2023 sales.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "152e7952-5b81-44a1-9efc-02022025cd68", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "table", "text": "Primary Care ($31bn), Speciality Care ($15bn), Oncology ($12bn)", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "71ff7d23-2a57-4476-aed1-836c544a5599", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "title", "text": "We believe Pfizer is a great American business that plays an important role in society.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "33ed98ac-558c-490b-a20d-23d844fa7f07", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Pfizer's Mission Is to Provide Breakthroughs That Change Patients' Lives", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2e0abe94-dc69-4cc5-8343-0140f618de94", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Executive summary", "slug": "executive-summary", "status": "active", "bestFor": null, "canonId": "019dd9e1-4b63-72d5-9734-da757d91ca61", "version": 1, "bodyDocId": null, "description": "A condensed view of the entire argument on a single slide / block.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "e00187bd-ed5a-4532-88d0-ee1f138db6b1", "evidence": "Pfizer serves a critical role in society that positively impacts millions of patient lives", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:48:28.118804+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 3, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [ { "matchId": "24b33e61-1288-4e6e-9e87-418a103ae781", "evidence": "Categorization of products into Primary Care, Speciality Care, and Oncology segments.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:53:59.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 3, "frameworkName": "market-segmentation-pyramid" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 4, "type": "setup", "title": "Uses news clippings as social proof/authority citation.", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "balanced", "densityScore": 33, "componentCount": 6, "textChars": 498, "nDataPoints": 0, "notes": "Uses news clippings as social proof/authority citation.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:56.526+00", "seconds": 3.54, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/4", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-4", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.92, "x": 0.04, "y": 0.88 }, "kind": "callout", "text": "The Company was first to market with a COVID-19 vaccine and oral antiviral treatment.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.526+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c688afc5-3c1f-4991-a488-f679e6541a70", "parentComponentId": null }, { "bbox": { "h": 0.48, "w": 0.44, "x": 0.52, "y": 0.33 }, "kind": "image", "text": "News clipping: Pfizer's Covid-19 Pill Is Authorized in U.S.", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.526+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "38e16e21-9869-4cff-bb7c-5e29e7c1554d", "parentComponentId": null }, { "bbox": { "h": 0.48, "w": 0.44, "x": 0.04, "y": 0.33 }, "kind": "image", "text": "News clipping: First Covid-19 Vaccine Given to U.S. Public", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.526+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "eab58a44-96b7-4b3a-8b7b-be48fc8b585b", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.92, "x": 0.04, "y": 0.16 }, "kind": "paragraph", "text": "The Company was the first to introduce a publicly available COVID-19 vaccine and oral antiviral treatment – both of which helped end the COVID-19 pandemic.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.526+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "484749f5-b5fc-4c75-9179-dd0f7ac3f588", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.25, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company filings and the Wall Street Journal.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.526+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "34f985e1-821d-46cb-8cf3-247db3262448", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.04 }, "kind": "title", "text": "Under Dr. Bourla’s Leadership, Pfizer Produced Two Critical COVID-19 Breakthroughs", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.526+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "71deea72-183a-409a-88da-b3221d5f788a", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "37706686-a862-4e7b-aede-70b9ad1f2163", "evidence": "Uses news clippings to validate claims of leadership and first-to-market status.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:56.526+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 4, "frameworkName": "authority-citation" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 5, "type": "appendix", "title": "Uses a dual-axis chart to visually suggest causality between vaccine rollout and death rate reduction.", "function": "illustrate_case", "rawType": "other", "block": null, "metadata": { "slideType": "other", "slideTypeCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43", "version": 1, "description": null }, "function": "illustrate_case", "functionCanon": { "name": "Illustrate case", "slug": "illustrate_case", "status": "active", "canonId": "019de52d-13b4-772c-bb73-1873612a7463", "version": 1, "description": null }, "density": "balanced", "densityScore": 25, "componentCount": 5, "textChars": 337, "nDataPoints": 2, "notes": "Uses a dual-axis chart to visually suggest causality between vaccine rollout and death rate reduction.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:56.276+00", "seconds": 2.93, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/5", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-5", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.15, "x": 0.24, "y": 0.3 }, "kind": "callout", "text": "Pfizer introduces first commercially available vaccine", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.276+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5a1ce90f-a0de-4734-840b-afb83af868d9", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.7, "x": 0.15, "y": 0.2 }, "kind": "chart", "text": "U.S.A. COVID-19 Daily Deaths vs. Cumulative Vaccination Rates", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.276+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3fd8ec80-dd64-4396-bf32-c0b3ee7fc9e6", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.7, "x": 0.15, "y": 0.9 }, "kind": "paragraph", "text": "We believe the Company’s COVID breakthroughs were monumental to ending the global pandemic.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.276+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8642139e-1710-4519-80ec-8cb795c4e21b", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.1, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Our World in Data.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.276+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "85e0928d-ef87-414d-96ee-e7a6437bf7c5", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.8, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "We Applaud the Company and Dr. Bourla For Their Significant Contributions to Ending the COVID-19 Pandemic", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.276+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9d255286-5bb5-4f9b-b20f-f0e3d02700bc", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Chartjunk Elimination", "slug": "chartjunk-elimination", "status": "active", "bestFor": null, "canonId": "019dd956-b49e-7453-ab01-b60f338eeda1", "version": 1, "bodyDocId": null, "description": "Remove decorative elements that don't convey data: 3D effects, shadows, unnecessary gridlines", "familyLabel": null, "categoryName": "Slide", "categorySlug": "slide" }, "agent": "Designer", "layer": "slide", "agents": [ "Designer" ], "matchId": "6cbc626e-8bd9-46c6-9531-ef44c973fe66", "evidence": "U.S.A. COVID-19 Daily Deaths vs. Cumulative Vaccination Rates", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.6, "extraction": { "at": "2026-07-17 00:48:28.232471+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 5, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 6, "type": "setup", "title": "The slide uses a visual callout to emphasize the $40bn incremental FCF figure.", "function": "quantify_opportunity", "rawType": "thesis_headline", "block": null, "metadata": { "slideType": "thesis_headline", "slideTypeCanon": { "name": "Thesis headline", "slug": "thesis_headline", "status": "active", "canonId": "019de52d-073a-70cb-b9f6-772a597bb5af", "version": 1, "description": null }, "function": "quantify_opportunity", "functionCanon": { "name": "Quantify opportunity", "slug": "quantify_opportunity", "status": "active", "canonId": "019de52d-17e4-726f-aa15-83350acef1dd", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 6, "textChars": 555, "nDataPoints": 5, "notes": "The slide uses a visual callout to emphasize the $40bn incremental FCF figure.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:56.081+00", "seconds": 2.706, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/6", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-6", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.92, "x": 0.04, "y": 0.22 }, "kind": "chart", "text": "Annual Free Cash Flow", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.081+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ad14b9a3-f9f3-4061-b3e7-b63230a5d1aa", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.38, "x": 0.31, "y": 0.28 }, "kind": "legend", "text": "~$40 billion in incremental FCF(1)", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.081+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6bc9646f-5305-4576-9557-698cb480398c", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.7, "x": 0.04, "y": 0.15 }, "kind": "paragraph", "text": "The Company's large COVID-19 related profits ultimately resulted in significant free cash flow generation.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.081+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ae6c4c96-2aa7-4158-bff7-fe671e22cf7b", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.04, "y": 0.95 }, "kind": "source-note", "text": "Source: Public company filings and Bloomberg. (1) Incremental cash flow calculated as annual free cash flow in 2021 and 2022 in excess of the free cash flow for 2020. (2) Excludes cash flow from discontinued operations.", "attrs": { "numbered": true }, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.081+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3a9165a6-69f8-448e-8153-17099efdf0b3", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.92, "x": 0.04, "y": 0.9 }, "kind": "title", "text": "The Company generated ~$40 billion in cumulative incremental free cash flow in 2021 and 2022.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.081+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fa931478-d273-40d9-96a3-de5dfd1bb367", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.92, "x": 0.04, "y": 0.05 }, "kind": "title", "text": "By Itself, the Company's COVID Breakthroughs Should Have Created Substantial Value", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.081+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2b60477e-dfb6-47d0-ac5f-36cc66fa6da3", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Waterfall chart", "slug": "waterfall-chart", "status": "active", "bestFor": null, "canonId": "e2799da3-725f-44a9-a093-570f1f388e64", "version": 1, "bodyDocId": null, "description": null, "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "9e55abc9-24f6-419e-9a83-94478d914159", "evidence": "Annual Free Cash Flow", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-17 00:48:28.306548+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 6, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "a28b580d-f845-4e7c-bfd8-daaf3572c943", "evidence": "The slide uses a clear, thesis-driven headline and a summary action-title at the bottom.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:53:56.081+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 6, "frameworkName": "action-titles" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 7, "type": "setup", "title": "The chart uses a red vertical arrow to quantify the 132-point gap between the market and Pfizer.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "sparse", "densityScore": 23, "componentCount": 5, "textChars": 241, "nDataPoints": 3, "notes": "The chart uses a red vertical arrow to quantify the 132-point gap between the market and Pfizer.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:01.32+00", "seconds": 7.919, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/7", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-7", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.3, "w": 0.1, "x": 0.88, "y": 0.35 }, "kind": "callout", "text": "132pts of underperformance", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.32+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "56d450d4-fe6e-42a0-befc-87909e7d0f6d", "parentComponentId": null }, { "bbox": { "h": 0.75, "w": 0.94, "x": 0.03, "y": 0.155 }, "kind": "chart", "text": "Pfizer Total Shareholder Returns", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.32+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ffb8e4c8-3e7c-445c-975f-b64c00945424", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.9 }, "kind": "paragraph", "text": "Pfizer has underperformed over the last five years.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.32+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "68fdc5f2-5e65-4bf6-ad42-bd5677887c88", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Bloomberg. Market data as of October 4, 2024.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.32+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b7289147-2250-49a2-9f39-ac7940aa2d73", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.94, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "However, Pfizer Has Dramatically Underperformed Peers and the Market Since 2019", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.32+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c7a61eff-801a-4565-91ff-175496374258", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "ab8a11a3-1e77-4d9b-b0f3-dd280bfef4d3", "evidence": "Direct comparison of stock performance against benchmarks", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:01.32+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 7, "frameworkName": "comparison_frame" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 8, "type": "setup", "title": "The chart uses a custom bridge structure to calculate total value lost by adding market cap decline and COVID benefit.", "function": "show_valuation_bridge", "rawType": "valuation_reveal", "block": null, "metadata": { "slideType": "valuation_reveal", "slideTypeCanon": { "name": "Valuation reveal", "slug": "valuation_reveal", "status": "active", "canonId": "019de52d-11ad-7735-8b3c-1701af31f382", "version": 1, "description": null }, "function": "show_valuation_bridge", "functionCanon": { "name": "Show valuation bridge", "slug": "show_valuation_bridge", "status": "active", "canonId": "019de52d-1883-716e-9dec-4981e70b840a", "version": 1, "description": null }, "density": "balanced", "densityScore": 28, "componentCount": 5, "textChars": 384, "nDataPoints": 7, "notes": "The chart uses a custom bridge structure to calculate total value lost by adding market cap decline and COVID benefit.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:56.344+00", "seconds": 2.916, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/8", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-8", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.22, "x": 0.51, "y": 0.22 }, "kind": "callout", "text": "Represents over $20 billion of lost value while the Company received a $40 billion+ COVID benefit", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "54b6f05a-00bc-40fa-8a3e-0227a54e0e20", "parentComponentId": null }, { "bbox": { "h": 0.55, "w": 0.82, "x": 0.09, "y": 0.296 }, "kind": "chart", "text": "Pfizer Share Price: 2018 to Now", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Waterfall bridge / value bridge", "slug": "waterfall-bridge", "status": "active", "canonId": "019de52d-0055-7469-ba67-a7f7a327dec1", "version": 1, "description": null }, "framework": null }, "subkind": "waterfall-bridge", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3d117fb5-feef-4520-809a-05032a3a4b94", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Bloomberg and public company filings.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c31be413-9ef4-4c44-8e4f-f2cd531865ae", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.25, "x": 0.42, "y": 0.52 }, "kind": "table", "text": "(x) Shares Outstanding 5.7 billion = Market Cap Lost $21 billion (+) COVID Benefit ~$40 billion = Total Value Lost $21 – 61 billion", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c749ad3f-3dc7-4891-bb5c-5beaae518031", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "The Company Has Lost Approximately $20 to $60 Billion in Market Value Since 2019", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e9134035-ef4e-40fd-ae78-c1b163ae2e5a", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Waterfall / value bridge", "slug": "waterfall-bridge", "status": "active", "bestFor": null, "canonId": "019de52d-19c5-727e-8889-b0b361655fca", "version": 1, "bodyDocId": null, "description": null, "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "71946ff1-d038-4fb4-97d4-9ca61d79cec1", "evidence": "Pfizer Share Price: 2018 to Now", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:48:28.419583+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 8, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "d1ab130c-efae-4ff3-9229-aef249ec3598", "evidence": "The slide uses a bridge structure to reconcile the change in market value.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:53:56.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 8, "frameworkName": "waterfall-bridge" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 9, "type": "setup", "title": "The chart highlights LLY and NVO as GLP-1 participants; PFE is highlighted in a different color.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 45, "componentCount": 6, "textChars": 635, "nDataPoints": 13, "notes": "The chart highlights LLY and NVO as GLP-1 participants; PFE is highlighted in a different color.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:56.462+00", "seconds": 2.944, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/9", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-9", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.92, "x": 0.04, "y": 0.83 }, "kind": "callout", "text": "We believe there is substantial upside potential at Pfizer", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.462+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8be95e86-1b9e-4140-8ecb-2f4fd80d3b02", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.92, "x": 0.04, "y": 0.215 }, "kind": "chart", "text": "P / CY25 EPS", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.462+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2d5aaba2-6ac0-44a6-94e4-0ddb10291d95", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.92, "x": 0.04, "y": 0.895 }, "kind": "paragraph", "text": "We are excited to own the business at its current valuation multiple as we believe there is substantial upside.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.462+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "562531f5-7a63-45df-aea3-d8bf264e9bda", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.92, "x": 0.04, "y": 0.15 }, "kind": "paragraph", "text": "We believe concerns regarding the Company's innovation track record, pipeline, capital allocation, and lost credibility have resulted in a depressed valuation multiple.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.462+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d66f2340-48ce-4c15-87c1-14afe2f16d62", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.65, "x": 0.04, "y": 0.94 }, "kind": "source-note", "text": "Source: Bloomberg and CapIQ. Starboard has identified BMY, AZN, JNJ, NOVN, ROG, MRK, SAN, GILD, ABBV, AMGN, LLY, NVO, and GSK as the relevant peer set for comparing PFE.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.462+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b1e60418-08e9-4581-9270-3500432e1367", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "We Are Excited to be a Large Pfizer Shareholder Given Its Compelling Valuation and Opportunity to Improve Performance", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.462+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7fb2a6fa-d97d-4ad0-9e56-bfcb21c21e90", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "f64068b5-33a9-4230-a050-49fe619d1c07", "evidence": "Comparison of PFE valuation against peer group median", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:56.462+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 9, "frameworkName": "comparison_frame" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 10, "type": "tension", "title": "Uses a funnel-like visual structure to connect specific operational issues to broader financial outcomes.", "function": "diagnose_problem", "rawType": "problem_statement", "block": null, "metadata": { "slideType": "problem_statement", "slideTypeCanon": { "name": "Problem statement", "slug": "problem_statement", "status": "active", "canonId": "019de52d-0879-768d-bba8-8da8a5a121d4", "version": 1, "description": null }, "function": "diagnose_problem", "functionCanon": { "name": "Diagnose problem", "slug": "diagnose_problem", "status": "active", "canonId": "019de52d-176d-761f-b608-cf52262d2ab2", "version": 1, "description": null }, "density": "balanced", "densityScore": 36, "componentCount": 6, "textChars": 466, "nDataPoints": 2, "notes": "Uses a funnel-like visual structure to connect specific operational issues to broader financial outcomes.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:56.577+00", "seconds": 3.059, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/10", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-10", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.94, "x": 0.03, "y": 0.65 }, "kind": "callout", "text": "Lower valuation multiple and levered balance sheet hamper future M&A, further limiting future growth", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "46457d01-ba37-436f-9a0b-adf54912ef68", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.94, "x": 0.03, "y": 0.85 }, "kind": "callout", "text": "The Company has lost approximately $20 to $60 billion in market value since 2019", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c4d64e9d-70fe-47cf-95aa-e26bdbe8242d", "parentComponentId": null }, { "bbox": { "h": 0.28, "w": 0.84, "x": 0.08, "y": 0.23 }, "kind": "list", "text": "A: Historical Internal R&D Efficiency; B: Expected Future Returns on R&D; C: Capital Allocation; D: Forecasting and Budgeting", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0594b3ef-8d20-47ce-b750-036261400edd", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.15, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Bloomberg, Starboard estimates.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c9517d25-3c7b-4699-a5e4-6fa7310111d0", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.9, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "We Believe the Company’s Market Value Decline Is Attributable to a Series of Issues", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f7513f9e-f084-4b43-92c3-751f124420d9", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.16 }, "kind": "title", "text": "Causes of Pfizer’s Market Value Decline", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b185f935-f8f1-4fb4-ac58-4185b7bd30f8", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "3efd491b-ba95-468f-aa0a-bd2fffc1afe8", "evidence": "The slide links operational causes (A-D) to financial consequences (valuation/growth) and the ultimate outcome (market value loss).", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:56.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 10, "frameworkName": "causal-chain" } ], "arcBeats": [ { "to": 10, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 10, "name": "Problem (Identify pain)", "beatId": "b43751cc-2861-4624-85bf-36320668ccd9", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Problem (Identify pain)", "slug": "problem-agitate-solution-problem-identify-pain", "status": "active", "canonId": "019dd9b8-0e78-74bb-b8f6-54348367a131", "version": 1, "description": null }, "evidence": "The document identifies Pfizer's market value decline as the problem.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 11, "type": "setup", "function": "transition", "rawType": "section_divider", "block": null, "metadata": { "slideType": "section_divider", "slideTypeCanon": { "name": "Section divider", "slug": "section_divider", "status": "active", "canonId": "019de52d-066a-7402-9554-6ae504999041", "version": 1, "description": null }, "function": "transition", "functionCanon": { "name": "Transition", "slug": "transition", "status": "active", "canonId": "019de52d-1365-7149-92aa-66df859e75fd", "version": 1, "description": null }, "density": "sparse", "densityScore": 1, "componentCount": 1, "textChars": 48, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:56.098+00", "seconds": 2.367, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/11", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-11", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.6, "x": 0.04, "y": 0.48 }, "kind": "title", "text": "A. Lack of Internal Innovation From 2019 to 2023", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:56.098+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ca891cf9-f589-462f-96a0-9e80e1da7f58", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 12, "type": "setup", "title": "The chart uses a dashed box to highlight PFE and a dashed red line to indicate the peer median of 46 drugs.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 6, "textChars": 476, "nDataPoints": 44, "notes": "The chart uses a dashed box to highlight PFE and a dashed red line to indicate the peer median of 46 drugs.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:57.364+00", "seconds": 3.547, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/12", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-12", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.12, "x": 0.26, "y": 0.28 }, "kind": "callout", "text": "Pfizer had a healthy pipeline of assets in clinical development", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.364+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bb8e38bf-f681-4760-8e4d-03ec3197699c", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.9, "x": 0.05, "y": 0.25 }, "kind": "chart", "text": "Number of New Drugs in Pipeline as of January 2, 2019", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Stacked bar chart", "slug": "bar-stacked", "status": "active", "canonId": "019de52c-feec-74bf-9028-15b74f84f0a7", "version": 1, "description": null }, "framework": null }, "subkind": "bar-stacked", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.364+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9f9dabe5-932f-4b76-ae04-1ba78961a372", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.65, "x": 0.02, "y": 0.94 }, "kind": "disclaimer", "text": "Source: Wall Street Research. Starboard has identified BMY, AZN, JNJ, NOVN, ROG, MRK, SAN, GILD, ABBV, AMGN, LLY, NVO, and GSK as the relevant peer set...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.364+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "07e993fa-a109-49fe-b256-57f5ef686aeb", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.24, "x": 0.38, "y": 0.83 }, "kind": "legend", "text": "Phase 1, Phase 2, Phase 3, NDA", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.364+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b6f41de4-caa1-47b0-9b00-602cf2c7b92e", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.9, "x": 0.05, "y": 0.12 }, "kind": "title", "text": "At the beginning of 2019, Pfizer had the fourth-most-number of new drugs in development out of its peer group.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.364+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "965f267c-491a-49c2-864c-ce4c60fdf101", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "At the Beginning of 2019, Pfizer Had a Robust New Product Pipeline", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.364+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "239ceff6-e4a7-4d37-9ef4-a1ec919b147a", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "90cf13e9-e6af-4ef5-b687-72b9490bcbcd", "evidence": "Comparison of Pfizer's pipeline against a defined peer group.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:53:57.364+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 12, "frameworkName": "peer-benchmark" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 12, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "5022ccdf-4dc3-4ffa-8bea-f9ccda118289", "evidence": "The document presents a series of slides exposing contradictions between Pfizer's claims and actual results, revealing the iceberg-like issues beneath the surface.", "position": 0, "objective": "What are the reasons behind Pfizer's lack of internal innovation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.681184+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 13, "type": "evidence", "title": "Uses authority bias to validate the activist's thesis that the company was already well-positioned for growth.", "function": "cite_precedent", "rawType": "quote_slide", "block": null, "metadata": { "slideType": "quote_slide", "slideTypeCanon": { "name": "Quote slide", "slug": "quote_slide", "status": "active", "canonId": "019de52d-098e-7555-a9fd-4f0af7e80bc2", "version": 1, "description": null }, "function": "cite_precedent", "functionCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-142b-714b-86d4-58aad7b568ec", "version": 1, "description": null }, "density": "dense", "densityScore": 70, "componentCount": 7, "textChars": 1610, "nDataPoints": 4, "notes": "Uses authority bias to validate the activist's thesis that the company was already well-positioned for growth.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:57.821+00", "seconds": 3.997, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/13", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-13", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.04, "w": 0.92, "x": 0.04, "y": 0.18 }, "kind": "callout", "text": "Select Quotes from Wall Street Research Analysts", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.821+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6cee91c7-2b2a-43c3-bbcc-187b4d13e862", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.92, "x": 0.04, "y": 0.44 }, "kind": "quote", "text": "“Perhaps the greatest legacy of outgoing CEO Ian Read is a reinvigorated R&D pipeline that should sustain top-line growth beyond key patent expirations. We expect new CEO Bourla to leverage this significant boost in late-stage R&D assets to a level that could preclude the need for M&A or financial engineering” Oppenheimer, December 11, 2018", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.821+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b266b3cc-179d-4ac0-b9e1-21c5de6b3034", "parentComponentId": null }, { "bbox": { "h": 0.18, "w": 0.92, "x": 0.04, "y": 0.62 }, "kind": "quote", "text": "“Pfizer has had pipeline success in 2018 with surprisingly good data from Tafamidis, Tanezumab meeting efficacy endpoints in smaller duration phase-3 trials but with questions on safety remaining, early encouraging data from next-gen JAK's for Inflammation and advancement of 20-valent pneumococcal vaccine into phase-3. We believe these events have a played a key role in changing the narrative on Pfizer from an M&A/Split story to a pipeline/growth story.” UBS, January 22, 2019", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.821+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e7e6ccb3-9ef2-49a3-b7a7-64593999a423", "parentComponentId": null }, { "bbox": { "h": 0.18, "w": 0.92, "x": 0.04, "y": 0.24 }, "kind": "quote", "text": "“PFE best positioned for top-line growth among large cap pharma with the pipeline capable of replenishing 41% of the FY17 revenue base by FY25 (vs. peers 7%), well in excess of the 16% of sales exposed to generic/biosimilar headwinds (vs. peers 42%). While near-term growth will be depressed by the loss of Lyrica, we believe investors will look through this to a period of renewed growth. Post-Lyrica LOE, we model revenue CAGR rising to 7.7% (FY20-25) from 2.7% (FY17-20).” Atlantic Equities, November 27, 2018", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.821+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fdda9ba4-0932-47b1-8598-9e2b7e845148", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.01, "y": 0.96 }, "kind": "source-note", "text": "Source: Wall Street Research. Quotes are bolded and underlined for emphasis.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.821+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8b77aa8d-ed8e-4304-ae3b-a30fee7601a6", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.92, "x": 0.04, "y": 0.84 }, "kind": "title", "text": "Wall Street analysts believed the Company was well-positioned.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.821+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8f08eb4f-0c76-46e6-ac5e-99d5b56abcf6", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.04 }, "kind": "title", "text": "In 2019, Wall Street Analysts Were Optimistic About Pfizer’s Pipeline and Future Prospects", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.821+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c2bf5ede-2a86-41e1-897f-ede5b2ffea4e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "40628060-87dd-4ec7-abc9-dfbe15ac7f8c", "evidence": "Uses quotes from major financial institutions to validate the thesis.", "framework": null, "confidence": 0.95, "extraction": { "at": "2026-05-02 10:53:57.821+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 13, "frameworkName": "authority-citation" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 12, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "5022ccdf-4dc3-4ffa-8bea-f9ccda118289", "evidence": "The document presents a series of slides exposing contradictions between Pfizer's claims and actual results, revealing the iceberg-like issues beneath the surface.", "position": 0, "objective": "What are the reasons behind Pfizer's lack of internal innovation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.681184+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 14, "type": "tension", "title": "The slide uses a series of quotes to establish a narrative of management over-promising on pipeline quality.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "overcrowded", "densityScore": 80, "componentCount": 9, "textChars": 1992, "nDataPoints": 0, "notes": "The slide uses a series of quotes to establish a narrative of management over-promising on pipeline quality.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:58.747+00", "seconds": 4.902, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/14", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-14", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.12, "w": 0.94, "x": 0.03, "y": 0.65 }, "kind": "quote", "text": "But in this new scale, we retain all the growth drivers, all the products that are driving the growth and to retain the entire pipeline. As a result, this company will be, from day 1 after the separation, a best-in-class revenue growth, long term, sustainable story with a relatively unlevered balance sheet at this company and the best pipeline we ever had. So we can do miracles with this company.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "65b531a4-76f6-4225-9dbf-0d50e56e7a34", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.94, "x": 0.03, "y": 0.5 }, "kind": "quote", "text": "We view this as a significant opportunity because 3 very positive trends are intersecting at the same time: first, macro trends such as an aging population and a rising middle class in emerging markets increasing the number of people seeking access to both innovative and established medicines; second, the continued advancement of what we believe is the best pipeline in our history with good breadth and strong innovation.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7456dfc9-5376-4788-bf4d-c38e891301e5", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.94, "x": 0.03, "y": 0.21 }, "kind": "quote", "text": "Today, we believe that we have the best pipeline in our history. To ensure we capitalize this incredible opportunity, we must remain highly focused on successful execution. In this context, I would reiterate that we continue not to see the need for any large-scale M&A activity at this time.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9ead76b0-3bdf-478e-b99f-f74124b63f0a", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.94, "x": 0.03, "y": 0.35 }, "kind": "quote", "text": "Now we are facing a very different situation. Right now, we are facing our last LOE. That will be Lyrica. That will happen in June of this year. And then we have a virtually LOE-free period until the end of 2025, so for a very long period of time. At the same time, we have likely the best pipeline we've ever had at the corporation.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a7075f2a-1fec-418d-86b8-27958e61ceb9", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.94, "x": 0.03, "y": 0.8 }, "kind": "quote", "text": "And if you take a big picture view, over the last decade, we have changed and refocused our approach to R&D. We have improved dramatically its productivity, and we have developed the best pipeline we ever had and one of the best, I believe, in the industry.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "cebda47d-2f99-41c6-9e5c-4699ec84cc69", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company transcripts. Quotes are bolded and underlined for emphasis.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5b55c987-7ba2-4b43-9ea1-dde8d3937bc6", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.9 }, "kind": "title", "text": "Management repeatedly told investors Pfizer had the best pipeline in its history.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "09a782e4-34eb-4708-96d8-de692b1dc85b", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.8, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "Management Also Frequently Told Investors Pfizer Had the \"Best Pipeline\" Ever", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1203c066-44b3-4ee7-81d0-8017e91113a7", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.15 }, "kind": "title", "text": "Dr. Bourla Quotes on Pfizer's Pipeline Pre-COVID", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0867fb58-236d-48c0-b8b1-8eeee941e03f", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "b7ab879f-5f4a-4127-a567-5b5db849fb49", "evidence": "The slide presents a series of quotes to build a case for management's inconsistency or over-promising.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:58.747+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 14, "frameworkName": "ceo-quote-contradiction" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 12, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "5022ccdf-4dc3-4ffa-8bea-f9ccda118289", "evidence": "The document presents a series of slides exposing contradictions between Pfizer's claims and actual results, revealing the iceberg-like issues beneath the surface.", "position": 0, "objective": "What are the reasons behind Pfizer's lack of internal innovation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.681184+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 15, "type": "tension", "title": "The slide uses a quote to highlight a specific management commitment, likely to be contrasted with later performance.", "function": "expose_contradiction", "rawType": "ceo_quote", "block": null, "metadata": { "slideType": "ceo_quote", "slideTypeCanon": { "name": "CEO quote", "slug": "ceo_quote", "status": "active", "canonId": "019de52d-09b6-71c8-93a5-f90a9772a8fa", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "dense", "densityScore": 69, "componentCount": 8, "textChars": 1023, "nDataPoints": 1, "notes": "The slide uses a quote to highlight a specific management commitment, likely to be contrasted with later performance.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:57.624+00", "seconds": 3.664, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/15", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-15", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.895 }, "kind": "callout", "text": "Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5be6569c-607a-4f82-b870-e9576aac5a6a", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.08, "x": 0.07, "y": 0.215 }, "kind": "image", "text": "Keyur Parekh", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Headshot", "slug": "headshot", "status": "active", "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf", "version": 1, "description": null }, "framework": null }, "subkind": "headshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0c50c905-16d7-4731-99d3-e3a1e3dfdde7", "parentComponentId": null }, { "bbox": { "h": 0.18, "w": 0.1, "x": 0.86, "y": 0.505 }, "kind": "image", "text": "Albert Bourla", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Headshot", "slug": "headshot", "status": "active", "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf", "version": 1, "description": null }, "framework": null }, "subkind": "headshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a3b08696-04d7-474e-81aa-2169ac8feaa6", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.15 }, "kind": "paragraph", "text": "Excerpt From 2019 Goldman Sachs Conference (January 3, 2019)", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d94a2ef5-566d-4091-9452-4049bae67c2b", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.815, "x": 0.155, "y": 0.215 }, "kind": "quote", "text": "But as you think about what markers you want to set for the company in the near term, so maybe in 12 months' time, kind of on a 3-year view or a 5-year view, how do you deem success over the short term?:", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3e2710f5-eb9c-468b-95cb-77e9a39254d8", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.775, "x": 0.035, "y": 0.405 }, "kind": "quote", "text": "I think -- well, it's inevitable that for every CEO, the success is measured through -- with total shareholder return... So a way to measure it, for us, it is we have put out there a list of 15 potential blockbusters that could come by the year -- in 5 years, so it is by 2022 when we put it out in '18. And I think my focus would be to make sure that we deliver more than our fair risk adjustment of this number, and that will be success.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3ebc207e-e313-4a8c-b9cb-2cceb4ede1da", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.01, "y": 0.975 }, "kind": "source-note", "text": "Source: Public company transcripts. Quotes are bolded and underlined for emphasis.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5388f81a-da52-4f39-b75f-1618958f012b", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "In Fact, In 2019, Management Committed to Delivering Innovation – Specifically On 15 Potential Blockbusters", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "02571639-dd7f-400a-8811-dd2399972efe", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "d1a6c383-43f4-49bf-af83-69711b6b4214", "evidence": "Uses a past CEO quote to set a benchmark for future performance evaluation.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:57.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 15, "frameworkName": "ceo-quote-contradiction" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 12, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "5022ccdf-4dc3-4ffa-8bea-f9ccda118289", "evidence": "The document presents a series of slides exposing contradictions between Pfizer's claims and actual results, revealing the iceberg-like issues beneath the surface.", "position": 0, "objective": "What are the reasons behind Pfizer's lack of internal innovation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.681184+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 16, "type": "tension", "title": "The slide is used by Starboard Value to contrast Pfizer's historical R&D projections with current performance.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 37, "componentCount": 5, "textChars": 606, "nDataPoints": 15, "notes": "The slide is used by Starboard Value to contrast Pfizer's historical R&D projections with current performance.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:57.344+00", "seconds": 3.338, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/16", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-16", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.65, "w": 0.48, "x": 0.26, "y": 0.21 }, "kind": "chart", "text": "Step Change in Pfizer R&D Productivity", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "be8ded5c-76c2-4e79-95ea-5803687438ca", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.2, "x": 0.535, "y": 0.335 }, "kind": "list", "text": "1. IO-IO: Mono/Combo 2. IO-Targeted / IO-Chemo 3. Targeted Cancer Agents 4. Ibrance Intermediate/High Risk eBC 5. Xtandi non meta. PROSPER/EMBARK 6. JAK1 Atopic Dermatitis 7. JAK ‘X’ Alopecia/Vitiligo 8. Xeljanz LCM 9. Clostridium Difficile 10. Staphylococcus Aureus 11. Pneumococcal Nextgen 12. domagrozumab Duchenne 13. rivipansel Sickle Cell 14. tafamidis Cardiomyopathy 15. tanezumab Pain", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f25a9b52-8a79-47f0-91f8-86178043b62d", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public Company presentation.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6d7fe6e6-be61-45fa-9ef5-dc4617547f76", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "subtitle", "text": "Excerpt from Pfizer 2018 J.P. Morgan Conference (January 8, 2018)", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "abee681f-f8b6-43e2-ba3e-f47202760120", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Pfizer’s Targeted 15 Blockbusters Were Initially Introduced In January 2018", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7257fac4-3e7b-45e5-8068-083aa48aeead", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "af868e3e-9711-4c2e-a49b-ca72631714ba", "evidence": "Used to highlight a discrepancy between past management projections and current reality.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:57.344+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 16, "frameworkName": "fraud-exposure" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 12, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "5022ccdf-4dc3-4ffa-8bea-f9ccda118289", "evidence": "The document presents a series of slides exposing contradictions between Pfizer's claims and actual results, revealing the iceberg-like issues beneath the surface.", "position": 0, "objective": "What are the reasons behind Pfizer's lack of internal innovation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.681184+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 17, "type": "tension", "title": "The slide uses a table to track 15 specific drug programs, noting their therapeutic area, next steps, and timing, with symbols indicating status (check for appr", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 23, "componentCount": 4, "textChars": 333, "nDataPoints": 15, "notes": "The slide uses a table to track 15 specific drug programs, noting their therapeutic area, next steps, and timing, with symbols indicating status (check for approval, star for designation, box for negative data).", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:57.342+00", "seconds": 3.161, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/17", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-17", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.03, "w": 0.5, "x": 0.25, "y": 0.82 }, "kind": "legend", "text": "✓ Achieved Approval(s) ♦ Positive Pivotal Data ☒ Negative Pivotal Data ★ Expedited Designation", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.342+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "66badc14-2ae4-42f4-ad1d-a856ac9604ff", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "paragraph", "text": "Management recommitted to its pipeline of “blockbuster” drugs in 2019.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.342+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9345fcab-1c67-4333-94b7-3539086c7ccb", "parentComponentId": null }, { "bbox": { "h": 0.55, "w": 0.62, "x": 0.19, "y": 0.295 }, "kind": "table", "text": "Table of 15 pipeline programs with therapeutic area, program name, next step, and timing.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.342+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "69954f32-2a45-4f2b-8581-887ad3ab24e0", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.94, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "At the Beginning of 2019, Management Recommitted to These 15 Pipeline Targets...", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.342+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "128c1b51-728d-4640-bd69-37a87c11a212", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 12, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "5022ccdf-4dc3-4ffa-8bea-f9ccda118289", "evidence": "The document presents a series of slides exposing contradictions between Pfizer's claims and actual results, revealing the iceberg-like issues beneath the surface.", "position": 0, "objective": "What are the reasons behind Pfizer's lack of internal innovation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.681184+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 18, "type": "tension", "title": "The slide uses a table to highlight specific programs that had already achieved approvals or failed (negative pivotal data) to challenge the company's narrative", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 22, "componentCount": 4, "textChars": 302, "nDataPoints": 15, "notes": "The slide uses a table to highlight specific programs that had already achieved approvals or failed (negative pivotal data) to challenge the company's narrative.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:57.83+00", "seconds": 3.161, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/18", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-18", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "paragraph", "text": "Pfizer had already made significant approval progress on three of 15 drugs.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.83+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b52d85a2-b493-48b6-9c53-f21b3faac443", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.2, "x": 0.02, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company presentation.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.83+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9039ecc6-10d6-4095-9848-be3024dc66fc", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.6, "x": 0.2, "y": 0.2 }, "kind": "table", "text": "Table of 15 drug programs with therapeutic area, program name, next step, and timing.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.83+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "96c102c9-5473-40e8-908e-56ebfe630bfb", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Three of Which Had Already “Achieved Approval(s)” and Two of Which Had Received “Negative Pivotal Data”...", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.83+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3e3aa557-fa04-4088-9f62-518c790f2aa6", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "2d1db5fb-7cac-4335-b759-f3e2b795dc1b", "evidence": "The slide highlights specific data points to contradict the company's optimistic 'Up to 15 in 5' narrative.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:57.83+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 18, "frameworkName": "fraud-exposure" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 12, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "5022ccdf-4dc3-4ffa-8bea-f9ccda118289", "evidence": "The document presents a series of slides exposing contradictions between Pfizer's claims and actual results, revealing the iceberg-like issues beneath the surface.", "position": 0, "objective": "What are the reasons behind Pfizer's lack of internal innovation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.681184+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 19, "type": "tension", "title": "The slide uses a table from a third-party source (Pfizer) to build an activist argument about management performance.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 28, "componentCount": 5, "textChars": 328, "nDataPoints": 15, "notes": "The slide uses a table from a third-party source (Pfizer) to build an activist argument about management performance.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:57.619+00", "seconds": 2.905, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/19", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-19", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.03, "y": 0.0016 }, "kind": "paragraph", "text": "Excerpt from Pfizer Q1 2019 Investor Presentation", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.619+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4249523a-9b7c-45de-92b1-c37e35f651c1", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.15, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company presentation.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.619+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "69355ccc-cb73-4276-8ff5-6b3efbfa6487", "parentComponentId": null }, { "bbox": { "h": 0.7, "w": 0.65, "x": 0.18, "y": 0.0021000000000000003 }, "kind": "table", "text": "Table listing 15 programs with therapeutic area, program name, next step, and timing.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.619+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8a39c2cd-fbad-4244-ac0b-38942a382583", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.03, "y": 0.9 }, "kind": "title", "text": "In summary, current management had ten opportunities to deliver blockbuster drugs.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.619+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fa55d9ea-8138-40df-b724-19016f89e460", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "... Leaving Management With 10 Potential Blockbusters It Explicitly Targeted", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.619+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "01ed4dfa-c4ea-4715-89c1-05bb3aeced69", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "36038d4c-1ae7-44c7-96a1-c3fb63a3fac3", "evidence": "Uses company's own historical data to highlight failure to meet stated targets.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:57.619+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 19, "frameworkName": "fraud-exposure" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 12, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "5022ccdf-4dc3-4ffa-8bea-f9ccda118289", "evidence": "The document presents a series of slides exposing contradictions between Pfizer's claims and actual results, revealing the iceberg-like issues beneath the surface.", "position": 0, "objective": "What are the reasons behind Pfizer's lack of internal innovation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.681184+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 20, "type": "evidence", "title": "The slide uses a dashed line to represent the blockbuster threshold and includes a callout box explaining the donation of royalties.", "function": "expose_contradiction", "rawType": "before_after", "block": null, "metadata": { "slideType": "before_after", "slideTypeCanon": { "name": "Before / after", "slug": "before_after", "status": "active", "canonId": "019de52d-11fd-771e-bb45-e27f849bc560", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "dense", "densityScore": 55, "componentCount": 7, "textChars": 708, "nDataPoints": 5, "notes": "The slide uses a dashed line to represent the blockbuster threshold and includes a callout box explaining the donation of royalties.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:58.371+00", "seconds": 3.611, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/20", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-20", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.2, "x": 0.68, "y": 0.25 }, "kind": "callout", "text": "Over $700mm BELOW \"Blockbuster\" threshold of $1 billion", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0835b6fe-eebf-4a9b-8102-07f4a834b4ef", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.2, "x": 0.16, "y": 0.3 }, "kind": "callout", "text": "Royalties donated as part of SGEN acquisition, making the transaction even more expensive.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e476779b-3493-42d5-975b-83677c373b4c", "parentComponentId": null }, { "bbox": { "h": 0.5, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "chart", "text": "Pfizer’s Bavencio Annual Sales ($mm)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3c7bd6bd-1e76-495b-896a-b14e2af4c502", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.7 }, "kind": "paragraph", "text": "In March 2023, it was announced that our alliance with Merck KGaA to co-develop and co-commercialize Bavencio (avelumab) would terminate. Effective June 30, 2023, Merck KGaA took full control of the global commercialization of Bavencio.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f518e7f2-ba18-433b-8513-9572d1509eea", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company filings. Quotes are bolded and underlined for emphasis.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e90caace-17b3-4d04-8c9a-09797bc6e812", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "title", "text": "Bavencio ultimately did not become a blockbuster drug and will not contribute to revenue moving forward.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "95366801-a320-495b-8547-efaaf22f3851", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.02 }, "kind": "title", "text": "While Bavencio Was Approved, Its Revenue Contribution Fell Short of \"Blockbuster\" And Was Ultimately Divested", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "79378ecd-62ad-47db-87fe-33ef63672e85", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "693e8066-6a72-41a8-ae86-de9cd38166b0", "evidence": "Exposing the failure of a drug to meet stated blockbuster expectations to critique management.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:53:58.371+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 20, "frameworkName": "fraud-exposure" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 12, "loop": { "name": "10_iceberg", "slug": "10-iceberg", "status": "active", "bestFor": "Consulting, complex problem solving, organizational change", "canonId": "019dd956-69f4-738c-852a-643798da0899", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "description": "Reveal that the visible problem is merely a symptom of a deeper root cause", "familyLabel": null }, "matchId": "5022ccdf-4dc3-4ffa-8bea-f9ccda118289", "evidence": "The document presents a series of slides exposing contradictions between Pfizer's claims and actual results, revealing the iceberg-like issues beneath the surface.", "position": 0, "objective": "What are the reasons behind Pfizer's lack of internal innovation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.681184+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 21, "type": "tension", "title": "Uses a screenshot of a news article as evidence of failure.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 12, "componentCount": 4, "textChars": 220, "nDataPoints": 0, "notes": "Uses a screenshot of a news article as evidence of failure.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:57.139+00", "seconds": 2.305, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/21", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-21", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.8, "x": 0.1, "y": 0.2 }, "kind": "image", "text": "Fierce Pharma article screenshot", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.139+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5e56c1c4-87b9-4a49-9105-32cef075d0a3", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.1, "y": 0.85 }, "kind": "paragraph", "text": "Unfortunately, Pfizer was unable to be successful with IBRANCE in early stage breast cancer.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.139+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3a8d929f-fbec-4fdf-92ac-154dfb46baa7", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.1, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Fierce Pharma.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.139+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "30160137-8b2a-4b93-bc0c-fb881243a9c5", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Pfizer's Early Breast Cancer Phase III Study For IBRANCE Ultimately Failed", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:57.139+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3a0786e1-2f40-488e-ba2c-4e5a3c04966b", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "3cc5ee4f-ec7f-4b81-a600-085e87002ce5", "evidence": "Uses external media to expose failure/contradiction in company narrative.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:53:57.139+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 21, "frameworkName": "fraud-exposure" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 22, "type": "tension", "title": "Uses a red arrow annotation to emphasize the gap between projected 2030 sales and the blockbuster threshold.", "function": "diagnose_problem", "rawType": "problem_statement", "block": null, "metadata": { "slideType": "problem_statement", "slideTypeCanon": { "name": "Problem statement", "slug": "problem_statement", "status": "active", "canonId": "019de52d-0879-768d-bba8-8da8a5a121d4", "version": 1, "description": null }, "function": "diagnose_problem", "functionCanon": { "name": "Diagnose problem", "slug": "diagnose_problem", "status": "active", "canonId": "019de52d-176d-761f-b608-cf52262d2ab2", "version": 1, "description": null }, "density": "balanced", "densityScore": 28, "componentCount": 5, "textChars": 367, "nDataPoints": 9, "notes": "Uses a red arrow annotation to emphasize the gap between projected 2030 sales and the blockbuster threshold.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:58.6+00", "seconds": 3.71, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/22", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-22", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.7, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "chart", "text": "Pfizer's Cibinqo Annual Sales ($mm)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.6+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b0630be8-46d2-49a3-8278-987a6ed000cd", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.2, "x": 0.75, "y": 0.28 }, "kind": "legend", "text": "Over $400mm BELOW “Blockbuster” threshold of $1 billion", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.6+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8eaa729c-9ec9-47b2-83d5-d9b0c42541cd", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "paragraph", "text": "Cibinqo received FDA approval though its sales will likely fall well below internal expectations.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.6+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2bd4d050-7ca3-4327-bd45-8fdeee506462", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.02, "y": 0.97 }, "kind": "source-note", "text": "Source: Public Company filings and Bloomberg. (1) Represents consensus estimates.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.6+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "875bf8d4-174b-4b92-a471-967caa36d6a8", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.03 }, "kind": "title", "text": "While Cibinqo (JAK1) Was Approved, It’s Expected To Fall Well Short of “Blockbuster” Status By 2030", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.6+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c48baadc-eb48-4eeb-825d-b073aeb6ca35", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 23, "type": "setup", "title": "The slide uses a visual gap analysis to highlight the shortfall against a market benchmark.", "function": "preempt_rebuttal", "rawType": "preempt_rebuttal", "block": null, "metadata": { "slideType": "preempt_rebuttal", "slideTypeCanon": { "name": "Preempt rebuttal", "slug": "preempt_rebuttal", "status": "active", "canonId": "019de52d-1225-7368-af32-6381fddabdb3", "version": 1, "description": null }, "function": "preempt_rebuttal", "functionCanon": { "name": "Preempt rebuttal", "slug": "preempt_rebuttal", "status": "active", "canonId": "019de52d-18ab-7479-9a7e-820a2f03586a", "version": 1, "description": null }, "density": "balanced", "densityScore": 27, "componentCount": 5, "textChars": 328, "nDataPoints": 7, "notes": "The slide uses a visual gap analysis to highlight the shortfall against a market benchmark.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:58.229+00", "seconds": 3.279, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/23", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-23", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.25, "x": 0.7, "y": 0.25 }, "kind": "callout", "text": "Over $300mm BELOW “Blockbuster” threshold of $1 billion", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "09843be3-809b-419b-bc67-9763c4ce3603", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.9, "x": 0.05, "y": 0.16 }, "kind": "chart", "text": "Pfizer's Litfulo Annual Sales ($mm)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2a70941e-41be-46e0-a973-4b99c700c7a0", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.88 }, "kind": "paragraph", "text": "Litfulo received FDA approval though its sales will likely fall well below internal expectations.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "08f5a383-ede1-4706-ac7b-d9a4b11bb004", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.2, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Bloomberg. (1) Represents consensus estimates.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6d88d327-50a2-4444-88f9-88cccf908b2c", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.94, "x": 0.03, "y": 0.02 }, "kind": "title", "text": "Litfulo (JAK3) Is Similarly Expected to Fall Well Short of “Blockbuster” Status by 2030", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d3f18d3e-7280-4362-ab81-5f3da79bc4b1", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "681af716-5a06-4008-87b1-20068f6d45b2", "evidence": "Compares projected sales against a defined industry benchmark ($1B blockbuster threshold).", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:58.229+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 23, "frameworkName": "comparison-frame" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 24, "type": "tension", "title": "The slide uses a highlighted excerpt from a third-party report to undermine the company's R&D track record.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 28, "componentCount": 5, "textChars": 389, "nDataPoints": 6, "notes": "The slide uses a highlighted excerpt from a third-party report to undermine the company's R&D track record.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:58.471+00", "seconds": 3.125, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/24", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-24", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "callout", "text": "Unfortunately, Pfizer has yet to have success with its C. Difficile vaccine.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.471+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "52000fb1-9e12-40d4-b210-881aa3f10d1b", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.16 }, "kind": "paragraph", "text": "Excerpt from Wall Street Research Report", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.471+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2b6d8f28-a6d0-4dfa-99f8-67d7a18f7e8d", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.5, "x": 0.25, "y": 0.22 }, "kind": "paragraph", "text": "C. Diff Vaccine Misses Primary Endpoint in Phase III Trial But Other Secondary Endpoints Were Encouraging; Novel C. Diff Vaccines Currently In Phase I...", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.471+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a3220dd7-5e5d-47e4-ba07-26977ad1a853", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.1, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Wall Street Research.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.471+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ffc6af2b-49d4-4491-a1b1-fe4e98304029", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "To-Date, Pfizer's C. Difficile Vaccine Studies Have Failed to Achieve Its Primary Endpoints", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.471+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9983a9da-c4da-4185-bbc8-ae95604490c6", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "a4554448-632e-4a14-b4d6-4465cca4dd12", "evidence": "The slide highlights a specific failure in clinical trials to contradict company narrative.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:53:58.471+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 24, "frameworkName": "fraud-exposure" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 25, "type": "evidence", "title": "The slide uses a screenshot of a press release to validate the claim of continued product success.", "function": "cite_precedent", "rawType": "cite_precedent", "block": null, "metadata": { "slideType": "cite_precedent", "slideTypeCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-12ec-72be-8881-51b438fa76c7", "version": 1, "description": null }, "function": "cite_precedent", "functionCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-142b-714b-86d4-58aad7b568ec", "version": 1, "description": null }, "density": "sparse", "densityScore": 11, "componentCount": 4, "textChars": 177, "nDataPoints": 0, "notes": "The slide uses a screenshot of a press release to validate the claim of continued product success.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:58.554+00", "seconds": 3.079, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/25", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-25", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.72, "w": 0.94, "x": 0.03, "y": 0.155 }, "kind": "image", "text": "Excerpt from Pfizer Press Release", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.554+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3a7fb63b-b81d-48ae-913e-d6e1f996fa9f", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.15, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company press release.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.554+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f3fee6ca-31fa-4d7d-84f1-22b63c9ccc94", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 1, "x": 0, "y": 0.9 }, "kind": "title", "text": "Prevnar continues to be a bright spot for Pfizer.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.554+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "67c67596-d475-4216-8e79-919655c7bd77", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.75, "x": 0.04, "y": 0.06 }, "kind": "title", "text": "Pfizer Has Had Continued Success With its PCV20 Vaccine...", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.554+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4d37b8b2-c869-4c3f-a3de-8ec91d21369e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "81caf0c8-1626-493c-83ba-f2f0ebf0a87d", "evidence": "Uses a primary source press release to validate a corporate claim.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:58.554+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 25, "frameworkName": "authority-citation" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 26, "type": "evidence", "title": "The slide uses analyst quotes to build a case for competitive pressure on Pfizer's core product.", "function": "cite_precedent", "rawType": "cite_precedent", "block": null, "metadata": { "slideType": "cite_precedent", "slideTypeCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-12ec-72be-8881-51b438fa76c7", "version": 1, "description": null }, "function": "cite_precedent", "functionCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-142b-714b-86d4-58aad7b568ec", "version": 1, "description": null }, "density": "dense", "densityScore": 70, "componentCount": 8, "textChars": 1022, "nDataPoints": 4, "notes": "The slide uses analyst quotes to build a case for competitive pressure on Pfizer's core product.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:59.724+00", "seconds": 4.179, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/26", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-26", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.0015 }, "kind": "paragraph", "text": "Excerpts From Wall Street Research Analysts", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.724+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f9a0a612-597b-46b4-88c8-61c3d578436e", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.0040999999999999995 }, "kind": "quote", "text": "Based on our proprietary PCV market model (NOTE)... we continue to believe VAX-31, if successful, will take up the lion's share in a growing ~$10B+ future PCV market.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.724+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8300b7c3-dedf-41d1-8106-acca9b687ede", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.0021000000000000003 }, "kind": "quote", "text": "VAX-31 APPEARS BEST-IN-CLASS & SHOULD LEAD THE EXPANDING ADULT + INFANT MARKET... VAX-31 met non-inferiority to PCV20 across the board... The ~$8B market could grow to over $13B by 2027", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.724+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8c60d964-adf1-4dd5-bd3e-850a9d2ff34e", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.0075 }, "kind": "quote", "text": "Prevnar-20 is the leading pneumococcal vaccine, but Merck’s 21-valent Capvaxive for adults could be a headwind to growth; other 20+ valent vaccines for infants are in development at MRK, GSK, PCVX, and SNY.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.724+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "941720d9-3112-405f-b1c3-145d2d9bfe38", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.0060999999999999995 }, "kind": "quote", "text": "VAX-31 has the potential to displace Prevnar 20 (and one could argue even MRK's Capvaxive (PCV21), though we generally think ACIP may prefer having some redundancy in the system).", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.724+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e71ab7ff-5a1c-4d89-870d-520142d054a1", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.02, "y": 0.97 }, "kind": "source-note", "text": "Source: Wall Street research. Quotes are bolded and underlined for emphasis.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.724+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c85dcda9-1369-4336-97e4-e73ec36dd999", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "title", "text": "Pfizer must continue to innovate with Prevnar to fend off looming threats.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.724+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9c52b364-62cd-44f2-b5f9-3b1c4bd2eed7", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.03 }, "kind": "title", "text": "... Though Now There Are Concerns About Threats to Pfizer’s PCV20 From Potential New Vaccines", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.724+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "58303224-34fd-4277-b2f8-f83de95d8965", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "3208a1f0-8955-4d0a-8dd7-7315834f527f", "evidence": "Use of Wall Street analyst quotes to validate competitive threat thesis.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:59.724+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 26, "frameworkName": "authority-citation" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 27, "type": "tension", "title": "The slide uses a direct quote from a press release to highlight a clinical trial failure.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 18, "componentCount": 5, "textChars": 269, "nDataPoints": 0, "notes": "The slide uses a direct quote from a press release to highlight a clinical trial failure.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:59.399+00", "seconds": 3.628, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/27", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-27", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "callout", "text": "Unfortunately, Rivipansel was not successful in its Phase 3 study.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.399+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "49f81402-9ad7-46f8-b400-013159febd4f", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.52, "x": 0.24, "y": 0.2 }, "kind": "image", "text": "Pfizer press release text highlighting failure to meet endpoints", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.399+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f37bb25a-f5df-4d34-a32b-a31309561da9", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "paragraph", "text": "Excerpt from Pfizer Press Release", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.399+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0081f48e-4336-43df-91ce-2e08887275df", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company press release.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.399+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b73d564e-3d9f-4e0a-a829-ca07de3e775f", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Pfizer’s Rivipansel Failed to Achieve Primary and Secondary Endpoints", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.399+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "855093a5-d9fd-461f-8fdf-38e13154bc65", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "adc66463-3445-4441-9fd6-6ce2230102ec", "evidence": "The slide highlights a specific failure in clinical trials to undermine the company's R&D track record.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:53:59.399+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 27, "frameworkName": "fraud-exposure" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 28, "type": "evidence", "title": "The slide uses a primary source excerpt to establish the clinical efficacy and subsequent commercial success of the drug.", "function": "cite_precedent", "rawType": "cite_precedent", "block": null, "metadata": { "slideType": "cite_precedent", "slideTypeCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-12ec-72be-8881-51b438fa76c7", "version": 1, "description": null }, "function": "cite_precedent", "functionCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-142b-714b-86d4-58aad7b568ec", "version": 1, "description": null }, "density": "sparse", "densityScore": 17, "componentCount": 4, "textChars": 231, "nDataPoints": 2, "notes": "The slide uses a primary source excerpt to establish the clinical efficacy and subsequent commercial success of the drug.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:58.516+00", "seconds": 2.716, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/28", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-28", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.5, "x": 0.25, "y": 0.15 }, "kind": "image", "text": "Excerpt from Pfizer Press Release", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.516+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "50c1d3f2-fc33-4de4-a475-cf4c1c690434", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "paragraph", "text": "Tafamidis was successful though Phase 3 readout had already occurred prior to 2019.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.516+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f7337fb1-d055-4c1d-a44c-25e918f6a8f2", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.01, "y": 0.98 }, "kind": "source-note", "text": "Source: Public company press release.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.516+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "06128c53-4d7b-4c6c-8a09-c16f47f07a70", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Pfizer’s Tafamidis Was Approved for ATTR-CM and Has Proven to Be a Blockbuster", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.516+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5d113b25-b760-4f87-afcc-d3fb5a998871", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "3fcfca06-eb04-479e-bfa2-ec489b842cde", "evidence": "Uses a direct press release excerpt to validate the claim of clinical success.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:58.516+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 28, "frameworkName": "authority-citation" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 29, "type": "evidence", "title": "The slide uses a screenshot of a news article as evidence.", "function": "cite_precedent", "rawType": "cite_precedent", "block": null, "metadata": { "slideType": "cite_precedent", "slideTypeCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-12ec-72be-8881-51b438fa76c7", "version": 1, "description": null }, "function": "cite_precedent", "functionCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-142b-714b-86d4-58aad7b568ec", "version": 1, "description": null }, "density": "sparse", "densityScore": 12, "componentCount": 4, "textChars": 210, "nDataPoints": 0, "notes": "The slide uses a screenshot of a news article as evidence.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:58.689+00", "seconds": 2.837, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/29", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-29", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.65, "w": 0.86, "x": 0.07, "y": 0.155 }, "kind": "image", "text": "Eli Lilly and Pfizer Put Osteoarthritis Pain Drug Tanezumab Out of its Misery", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.689+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "cba4ea7f-8c0b-4e3d-bd3b-9c240cc805be", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "paragraph", "text": "Unfortunately, Pfizer was also unsuccessful in developing Tanezumab.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.689+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "40bf6310-9354-4589-a3b4-07fd4a315670", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.1, "x": 0.01, "y": 0.98 }, "kind": "source-note", "text": "Source: Biospace.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.689+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0f14cc52-74ce-43b8-8f33-2febfd18f731", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.65, "x": 0.03, "y": 0.05 }, "kind": "title", "text": "10 Tanezumab Also Failed to Achieve FDA Approval", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.689+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1a0ff620-271f-4477-9e4c-82e36236b303", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 30, "type": "tension", "title": "The slide highlights a contradiction between the CEO's stated focus on innovation and the market's focus on shareholder return.", "function": "expose_contradiction", "rawType": "ceo_quote", "block": null, "metadata": { "slideType": "ceo_quote", "slideTypeCanon": { "name": "CEO quote", "slug": "ceo_quote", "status": "active", "canonId": "019de52d-09b6-71c8-93a5-f90a9772a8fa", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "dense", "densityScore": 50, "componentCount": 6, "textChars": 946, "nDataPoints": 1, "notes": "The slide highlights a contradiction between the CEO's stated focus on innovation and the market's focus on shareholder return.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:59.41+00", "seconds": 3.323, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/30", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-30", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.9 }, "kind": "callout", "text": "Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.41+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8c769e4f-a9d0-4a8b-b86e-d0e11628f3d5", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.12, "x": 0.85, "y": 0.51 }, "kind": "image", "text": null, "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Headshot", "slug": "headshot", "status": "active", "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf", "version": 1, "description": null }, "framework": null }, "subkind": "headshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.41+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5fab867b-3f55-4862-ac86-bf12436e8826", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.8, "x": 0.03, "y": 0.4 }, "kind": "quote", "text": "I think -- well, it's inevitable that for every CEO, the success is measured through -- with total shareholder return... And the purpose of the pharma company is to bring breakthrough products that change patients' lives... So a way to measure it, for us, it is we have put out there a list of 15 potential blockbusters that could come by the year -- in 5 years... And I think my focus would be to make sure that we deliver more than our fair risk adjustment of this number, and that will be success.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.41+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a8051d9a-6c08-43d0-9832-55685812c492", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.8, "x": 0.15, "y": 0.21 }, "kind": "quote", "text": "But as you think about what markers you want to set for the company in the near term, so maybe in 12 months' time, kind of on a 3-year view or a 5-year view, how do you deem success over the short term?:", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.41+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ade2f6d0-6745-409e-931d-713604b4ea59", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.15 }, "kind": "subtitle", "text": "Excerpt From 2019 Goldman Sachs Conference (January 3, 2019)", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.41+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0fe10cad-b394-4e82-b62f-085a5e90730c", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.88, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "Again, Management Defined Success as Constant and Breakthrough Innovation...", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.41+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dba23f44-e16e-4dd5-b555-b841cce0ed9c", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "74874e1a-5dd0-45ed-8b1e-ec180aee59ab", "evidence": "The slide juxtaposes the CEO's stated purpose (innovation) against the market's measurement (shareholder return) to expose a strategic tension.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:59.41+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 30, "frameworkName": "ceo-quote-contradiction" } ], "arcBeats": [ { "to": 30, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 11, "name": "Agitate (Make it worse)", "beatId": "e3d3e281-b7d2-40bf-bf10-c286405c0d64", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Agitate (Make it worse)", "slug": "problem-agitate-solution-agitate-make-it-worse", "status": "active", "canonId": "019dd9b8-0f5a-71dd-bae7-8fadb0d09456", "version": 1, "description": null }, "evidence": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Development", "slug": "development", "status": "active", "canonId": "019dd9b8-0332-7008-b3aa-11b0840a57b1", "version": 1, "description": "The middle stretch in arcs that have one. Often where length problems creep in." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 31, "type": "tension", "title": "The slide uses a 'before-after' framing by contrasting past management promises with current performance.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 21, "componentCount": 4, "textChars": 252, "nDataPoints": 15, "notes": "The slide uses a 'before-after' framing by contrasting past management promises with current performance.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:58.869+00", "seconds": 2.528, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/31", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-31", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": null, "kind": "framework", "text": "Contrasting past management promises with current performance", "attrs": null, "canon": { "kind": { "name": "Framework", "slug": "framework", "status": "active", "canonId": "019de52c-fa18-77c6-b10a-ccb8277ac0fa", "version": 1, "description": "Named conceptual framework instance." }, "tool": null, "subkind": { "name": "Framework instance", "slug": "instance", "status": "active", "canonId": "019de52d-05a2-72af-be0b-7edc60708a03", "version": 1, "description": null }, "framework": null }, "subkind": "instance", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.869+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a4e9b783-05ac-4974-afee-0e735c7aef45", "parentComponentId": null }, { "bbox": { "h": 0.7, "w": 0.64, "x": 0.18, "y": 0.15 }, "kind": "image", "text": "Excerpt from Pfizer Q1 2019 Investor Presentation", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.869+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "644039bd-9876-4fa2-980b-4f51a3ad7fa7", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.93 }, "kind": "title", "text": "We do not believe Pfizer achieved “constant” and “breakthrough” innovations.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.869+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f9a28b8f-9428-4071-8017-6c443f01d32c", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "... We Believe Management Has Failed to Deliver On This Commitment", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.869+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "af56b470-e3ec-4ab4-9547-49a347f3cbf2", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "3c041290-2695-47c6-9170-ef60400d7f18", "evidence": "Contrasts a 2019 management promise with the activist's current critique of failure.", "framework": null, "confidence": 0.95, "extraction": { "at": "2026-05-02 10:53:58.869+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 31, "frameworkName": "before-after-framing" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 32, "type": "tension", "title": "Uses highlighted text to draw attention to specific claims within the quotes.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "dense", "densityScore": 63, "componentCount": 6, "textChars": 1990, "nDataPoints": 4, "notes": "Uses highlighted text to draw attention to specific claims within the quotes.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:01.562+00", "seconds": 5.152, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/32", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-32", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.89 }, "kind": "callout", "text": "The Company told investors GLP-1s were a $10 billion sales opportunity.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "041e2c59-53a3-471d-b538-f257bb4b26dd", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.94, "x": 0.03, "y": 0.15 }, "kind": "paragraph", "text": "Excerpts from Company Transcripts", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "689f4d2f-320e-453d-a1c6-34479a8a7ecd", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.94, "x": 0.03, "y": 0.21 }, "kind": "quote", "text": "Now we will see how things will evolve. But that's one clearly. GLP-1, clearly, everybody is excited about that. I believe that it is something that could -- we said that we think it could be $10 billion product for us in a market that could be $90 billion. So it's not part of this calculation, but it is a major upside if we get it right. Again, we think that we'll be very few players that will play in the oral GLP-1, us and Lilly. Clearly, we are going to be one of them. We think the data should show which one has a better profile. We believe and we hope that we will have. But no matter what, it's going to be so big a market that it's going to be a very big product for both of us, I think. Albert Bourla (PFE CEO) January 9, 2023", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d042cc72-7859-4563-855b-0350b57c8126", "parentComponentId": null }, { "bbox": { "h": 0.41, "w": 0.94, "x": 0.03, "y": 0.47 }, "kind": "quote", "text": "We're happy to speak about our exciting GLP-1 programs. We have 2 programs, right, danuglipron and then PF-1532, which we now refer to as lotiglipron. So we believe that it's going to be a $90 billion market opportunity set in 10 years, a little bit beyond 2030 across type 2 diabetes and obesity. We believe that oral GLP-1s will take 30% of this opportunity in a Pfizer oral GLP-1, either danuglipron or lotiglipron could garner about 1/3 of that oral segment. So the math calculation here is 30% share of $90 billion and then 1/3 of that $27 billion, that gets you to about $9 billion in the U.S. And internationally, today, 90% of sales -- or globally, today, 90% of sales of GLP-1s occur in the U.S. given price realization and market access. So we expect about 10% for international, assuming nothing changes in that dynamic. And that's how we get to our $10 billion global opportunity for Pfizer oral GLP-1. Andy Schmeltz (PFE Global President of Oncology) February 16, 2023", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Pull quote", "slug": "pull-quote", "status": "active", "canonId": "019de52c-fbf9-76fe-97e1-a0b7540445c9", "version": 1, "description": null }, "framework": null }, "subkind": "pull-quote", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d2e8bb06-9173-4941-9709-49270f32d812", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company transcripts. Quotes are bolded and underlined for emphasis.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b31dea30-e334-4012-9f7e-d664546dc99e", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.94, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "At the Beginning of 2023, the Company Also Set a $10 Billion Sales Target for GLP-1s", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4303d628-c7ff-49ef-8d56-8a6cd987ecbd", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "8098c6b1-6c43-464b-8da8-6fbd3569d904", "evidence": "Uses executive quotes to establish a baseline expectation that is later challenged.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 32, "frameworkName": "ceo-quote-contradiction" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 33, "type": "tension", "title": "The slide highlights the skepticism of Wall Street analysts regarding management's projections.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 17, "componentCount": 4, "textChars": 249, "nDataPoints": 2, "notes": "The slide highlights the skepticism of Wall Street analysts regarding management's projections.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:58.87+00", "seconds": 2.202, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/33", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-33", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.8, "x": 0.1, "y": 0.88 }, "kind": "callout", "text": "Wall Street research analysts risk-adjusted management's $10 billion sales target.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.87+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7c106dcc-3b68-4499-91ff-c0b7ddb1eb9f", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.7, "x": 0.15, "y": 0.2 }, "kind": "chart", "text": "Danuglipron Expectations: Mgmt vs. Consensus ($mm)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.87+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "49f9d63d-7151-47ed-87d6-29817c965f2d", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.1, "x": 0.02, "y": 0.97 }, "kind": "source-note", "text": "Source: Visible Alpha.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.87+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d73b3599-e99c-4edb-b086-900db997f146", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "As a Result, Wall Street Research Analysts Gave Management Some Risk-Adjusted Credit For GLP-1s", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:58.87+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "08573a61-3c01-4745-b5c2-257a87bda21b", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 34, "type": "tension", "title": "Uses a 'villain critique' style to undermine management's R&D track record.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "dense", "densityScore": 51, "componentCount": 7, "textChars": 787, "nDataPoints": 0, "notes": "Uses a 'villain critique' style to undermine management's R&D track record.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:00.477+00", "seconds": 3.794, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/34", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-34", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.178 }, "kind": "callout", "text": "The Company discontinued its Phase 2b Danuglipron (twice a day formulation) after tolerability issues.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.477+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1f31a150-6f67-4a2f-bbec-f40d03c44c74", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.53 }, "kind": "callout", "text": "The Company is continuing to invest behind a once a day formulation, but analysts are skeptical.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.477+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "47f9bb78-e4b2-40c7-b956-f35675ccdd54", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.89 }, "kind": "paragraph", "text": "The Company appears to have missed the mark on GLP-1s.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.477+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3d5f7021-90d2-4533-804e-d1bf7037c5eb", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.94, "x": 0.03, "y": 0.58 }, "kind": "quote", "text": "This morning, PFE announced that it is advancing the development of its QD formulation... we remain skeptical on the asset with questions remaining on the tolerability profile...", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.477+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0ffb54f9-bd69-4614-bb3b-eba9af6a9952", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.94, "x": 0.03, "y": 0.23 }, "kind": "quote", "text": "We expect PFE to trade lower today following disclosure of topline results... we view the results as markedly negative for the program, with PFE discontinuing further development of the twice daily formulation.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.477+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9e773c88-2fd7-4204-95cf-d4b98ddae3bb", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Wall Street research. Quotes are bolded and underlined for emphasis.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.477+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6a5c24f5-455d-452f-b3f3-b9515840045b", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.94, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "However, the Company’s GLP-1 Assets Have Not Been Successful To Date...", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.477+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "497552df-7168-412c-99a6-16f7b4898b92", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "0997a702-6aa6-4932-8823-acfe48357bb3", "evidence": "Uses Goldman Sachs and J.P. Morgan quotes to validate the argument.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:00.477+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 34, "frameworkName": "authority-citation" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 35, "type": "tension", "title": "The chart highlights the massive gap between company optimism and market reality.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 17, "componentCount": 4, "textChars": 206, "nDataPoints": 3, "notes": "The chart highlights the massive gap between company optimism and market reality.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:59.079+00", "seconds": 2.227, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/35", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-35", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.2, "x": 0.63, "y": 0.48 }, "kind": "callout", "text": "Wall Street research analysts' expectations have decreased by 66%!", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.079+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "421893f5-e1f8-4e05-81dd-e9e79c44b7cd", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.76, "x": 0.12, "y": 0.25 }, "kind": "chart", "text": "Danuglipron Consensus Expectation Progression", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.079+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5753cb39-c13c-45eb-bbcc-c5b15139f0e4", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.1, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Visible Alpha.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.079+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5ae0cb48-77f5-41aa-a5ed-08727b99a2ed", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.8, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "... Resulting In a Substantial Decline In Expected Sales From Danuglipron", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.079+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "670f92bb-9c5f-4fb7-92a3-d8148354a721", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 36, "type": "setup", "title": "The chart highlights the divergence in GLP-1 success between the two peers and the implied laggard (Pfizer).", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 38, "componentCount": 6, "textChars": 428, "nDataPoints": 14, "notes": "The chart highlights the divergence in GLP-1 success between the two peers and the implied laggard (Pfizer).", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:59.978+00", "seconds": 2.882, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/36", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-36", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.9, "x": 0.05, "y": 0.25 }, "kind": "chart", "text": "Grouped bar chart showing NVO vs LLY sales projections", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Grouped bar chart", "slug": "bar-grouped", "status": "active", "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1", "version": 1, "description": null }, "framework": null }, "subkind": "bar-grouped", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.978+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "23e6bd54-30ba-49eb-b88d-99c50516cf20", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.1, "x": 0.45, "y": 0.78 }, "kind": "legend", "text": "NVO LLY", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.978+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9e806e36-8467-40f2-9007-b41497b9a677", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "paragraph", "text": "Peers have been successful at developing and commercializing GLP-1s whereas Pfizer has not.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.978+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a32402f9-c826-46e5-ade3-0c3204831fca", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.6, "x": 0.03, "y": 0.95 }, "kind": "source-note", "text": "Source: Bloomberg. (1) Represents consensus estimates. (2) LLY represents the total of Mounjaro and Zepbound. NVO represents the total of Ozempic and Wegovy.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.978+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b8f2af09-7d3b-4408-9d4a-96dbbe5c2d5c", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "Other Peers, However, Have Been Able to Introduce Successful GLP-1 Products", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.978+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "15ba7a14-1f0a-4d43-983e-63efbbef132e", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.16 }, "kind": "title", "text": "LLY and NVO Expected GLP-1 Sales ($bn)(1)(2)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.978+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7237975d-6ed2-43cc-99bc-4c55da2fa9d7", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 37, "type": "setup", "function": "transition", "rawType": "section_divider", "block": null, "metadata": { "slideType": "section_divider", "slideTypeCanon": { "name": "Section divider", "slug": "section_divider", "status": "active", "canonId": "019de52d-066a-7402-9554-6ae504999041", "version": 1, "description": null }, "function": "transition", "functionCanon": { "name": "Transition", "slug": "transition", "status": "active", "canonId": "019de52d-1365-7149-92aa-66df859e75fd", "version": 1, "description": null }, "density": "sparse", "densityScore": 1, "componentCount": 1, "textChars": 37, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:03.28+00", "seconds": 6.157, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/37", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-37", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.06, "w": 0.53, "x": 0.04, "y": 0.47 }, "kind": "title", "text": "B. Lack of Expected Future Innovation", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.28+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e91384a4-e0f8-4553-8416-6293e93e8585", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 38, "type": "setup", "title": "The chart highlights Pfizer's underperformance relative to peers, including a specific callout for 'PFE Excl. COVID'.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 31, "componentCount": 5, "textChars": 437, "nDataPoints": 14, "notes": "The chart highlights Pfizer's underperformance relative to peers, including a specific callout for 'PFE Excl. COVID'.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:59.768+00", "seconds": 2.645, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/38", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-38", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.55, "w": 0.9, "x": 0.05, "y": 0.25 }, "kind": "chart", "text": "Cumulative Revenue Growth (2023 to 2030)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.768+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7f0176fb-e9f3-406c-b387-89dfe41e2cd7", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.65, "x": 0.02, "y": 0.94 }, "kind": "disclaimer", "text": "Source: Bloomberg. Starboard has identified BMY, AZN, JNJ, NOVN, ROG, MRK, SAN, GILD, ABBV, AMGN, LLY, NVO, and GSK as the relevant peer set for comparing PFE.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.768+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "43f89677-4dbe-403f-93fe-0687624edce0", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.1, "x": 0.63, "y": 0.485 }, "kind": "legend", "text": "Peer Median: 27%", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.768+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "cea1200e-533f-4911-9c22-4250f0abad2d", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.8, "x": 0.04, "y": 0.15 }, "kind": "paragraph", "text": "Wall Street research analysts expect Pfizer's revenue to decline by 3% (9% increase excluding COVID) from 2023 to 2030.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.768+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d91244bb-fc55-4e56-a9b1-85d6cd0c7981", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.85, "x": 0.04, "y": 0.04 }, "kind": "title", "text": "Looking Forward, Wall Street Research Analysts Are Not Expecting Significant Revenue Growth From Pfizer", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.768+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1af4b5cf-58f8-4f34-8823-2fa12bd4788c", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "4901dfe5-e51a-4329-b2f5-59de9a3d0184", "evidence": "Comparing Pfizer's revenue growth against a peer group median.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:53:59.768+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 38, "frameworkName": "comparison_frame" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 39, "type": "setup", "title": "The chart uses a 'broken axis' visual style for the top two bars (LLY, NVO) to accommodate their significantly higher growth rates.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 43, "componentCount": 6, "textChars": 533, "nDataPoints": 42, "notes": "The chart uses a 'broken axis' visual style for the top two bars (LLY, NVO) to accommodate their significantly higher growth rates.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:00.962+00", "seconds": 3.342, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/39", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-39", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.04, "w": 0.92, "x": 0.04, "y": 0.89 }, "kind": "callout", "text": "We believe the Company should seek to improve R&D and innovation to improve growth prospects.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.962+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "42c2c149-bf10-4900-bd51-d3741c61696d", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.92, "x": 0.04, "y": 0.22 }, "kind": "chart", "text": "Ex-LOE Revenue Growth (2023 to 2030)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.962+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d2eb95cb-f758-4629-834a-e6ab53e80449", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.75, "x": 0.04, "y": 0.14 }, "kind": "paragraph", "text": "Accounting for sizable patent expirations further highlights Pfizer's lagging gross revenue growth relative to peers.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.962+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b5a04c45-9bc4-4c50-9c29-1f0226435835", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.65, "x": 0.04, "y": 0.94 }, "kind": "source-note", "text": "Source: Visible Alpha, Bloomberg, and Wall Street research. (1) Based on Starboard's research and estimates...", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.962+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "87430aea-fffc-41f3-a4af-cc061c2765d0", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.92, "x": 0.04, "y": 0.25 }, "kind": "table", "text": "Table of LOE Expirations and Revenue Growth percentages for each company", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.962+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6e09ef7b-39da-4d80-8951-5756efcf69f1", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "Even Excluding Pfizer's Large Patent Expirations, the Company Is Still Expected to Underperform on Growth", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.962+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "61af9435-2a4e-4187-aa21-1781c46d7fe0", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "851bbdab-cb79-40db-9ea5-91bc1f97e745", "evidence": "Comparing Pfizer's growth metrics against a defined peer group median.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:00.962+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 39, "frameworkName": "comparison_frame" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 40, "type": "setup", "title": "The chart uses a broken axis for the top two performers (NVO, LLY) to accommodate the scale.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 26, "componentCount": 4, "textChars": 440, "nDataPoints": 13, "notes": "The chart uses a broken axis for the top two performers (NVO, LLY) to accommodate the scale.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:01.207+00", "seconds": 3.525, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/40", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-40", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.87 }, "kind": "callout", "text": "The Company is expected to generate lower returns on R&D already spent.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.207+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "63ba5cb2-06fa-48d7-91d9-ca498b74e8e4", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.94, "x": 0.03, "y": 0.185 }, "kind": "chart", "text": "Expected Revenue Return on R&D + M&A Investments", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.207+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a0da3c31-0fad-45c8-903e-599eebfcb9db", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.94 }, "kind": "source-note", "text": "Source: Public company filings and Bloomberg. (1) Cumulative R&D spend from 2019 to 2023. Includes IPR&D not captured by M&A. (2) Cumulative M&A spend from 2019 to 2023. (3) Cumulative R&D excludes estimated COVID-related R&D of $4 billion.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.207+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "43eb23f8-2939-4840-97bd-2897c4f7d760", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.94, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "Critically, the Company's Lower Revenue Growth Reflects Lower Return on R&D Spend", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.207+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f3d3775c-4b75-4313-b809-c16760cf8df2", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "751ccb86-73d6-4457-84de-8e9e7db6521c", "evidence": "Benchmarking PFE against a peer group to highlight performance gap.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:01.207+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 40, "frameworkName": "comparison-frame" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 41, "type": "setup", "function": "transition", "rawType": "section_divider", "block": null, "metadata": { "slideType": "section_divider", "slideTypeCanon": { "name": "Section divider", "slug": "section_divider", "status": "active", "canonId": "019de52d-066a-7402-9554-6ae504999041", "version": 1, "description": null }, "function": "transition", "functionCanon": { "name": "Transition", "slug": "transition", "status": "active", "canonId": "019de52d-1365-7149-92aa-66df859e75fd", "version": 1, "description": null }, "density": "sparse", "densityScore": 1, "componentCount": 1, "textChars": 21, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:53:59.494+00", "seconds": 1.587, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/41", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-41", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.25, "x": 0.04, "y": 0.48 }, "kind": "title", "text": "C. Capital Allocation", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:53:59.494+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7f317746-cdc7-42e4-a177-1c7f92b5749e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 42, "type": "evidence", "title": "The slide highlights the scale of capital allocation into M&A, framing it as a potential misuse of COVID-19 windfall cash.", "function": "diagnose_problem", "rawType": "before_after", "block": null, "metadata": { "slideType": "before_after", "slideTypeCanon": { "name": "Before / after", "slug": "before_after", "status": "active", "canonId": "019de52d-11fd-771e-bb45-e27f849bc560", "version": 1, "description": null }, "function": "diagnose_problem", "functionCanon": { "name": "Diagnose problem", "slug": "diagnose_problem", "status": "active", "canonId": "019de52d-176d-761f-b608-cf52262d2ab2", "version": 1, "description": null }, "density": "balanced", "densityScore": 34, "componentCount": 6, "textChars": 353, "nDataPoints": 5, "notes": "The slide highlights the scale of capital allocation into M&A, framing it as a potential misuse of COVID-19 windfall cash.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:01.562+00", "seconds": 3.618, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/42", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-42", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.5, "x": 0.25, "y": 0.28 }, "kind": "callout", "text": "The Company invested nearly $70 Billion in M&A since the pandemic", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2f8d8105-276c-4c74-b74b-26ad7d5f308e", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.9, "x": 0.05, "y": 0.35 }, "kind": "chart", "text": "Select PFE Transactions ($bn)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2aaf410c-76a3-4c41-88c2-3697ab73b45a", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.05, "y": 0.15 }, "kind": "paragraph", "text": "The Company used its COVID-19 cash benefit to make multiple large acquisitions.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "18bbd546-841f-4464-8ff9-d84e6a8890cf", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "paragraph", "text": "The Company used more than its COVID cash benefit on large M&A transactions.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "68d70672-1cde-4866-bba3-f0559f15f2e4", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.15, "x": 0.02, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company filings.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0b0dc628-152e-464f-9660-7cca59bd7b70", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Pfizer Pursued Significant Inorganic Investments Over the Last Five Years", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dd82e513-1267-4f9e-923e-2efcb283a6e1", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "7a2f1f47-8a3f-4455-9281-02e9c13276b0", "evidence": "The slide critiques the company's use of cash for M&A versus other potential uses.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 42, "frameworkName": "capital-allocation-framework" } ], "arcBeats": [], "loops": [ { "to": 50, "from": 42, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "5cfd6c38-7f54-40a4-89ca-d5f3ce72ca30", "evidence": "The document highlights the costs of Pfizer's poor capital allocation, including overpaying for acquisitions and losing value.", "position": 1, "objective": "What are the consequences of Pfizer's poor capital allocation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.723116+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 43, "type": "tension", "title": "The slide uses a visual comparison to contrast the $70B spend against the $20.5B revenue target, implying poor capital allocation.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 26, "componentCount": 5, "textChars": 344, "nDataPoints": 4, "notes": "The slide uses a visual comparison to contrast the $70B spend against the $20.5B revenue target, implying poor capital allocation.", "elementsJson": null, "confidence": 0.95, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:01.109+00", "seconds": 3.144, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/43", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-43", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.25, "x": 0.15, "y": 0.4 }, "kind": "callout", "text": "The Company spent nearly $70 billion on M&A at an implied ~3.3x \"peak\" revenue multiple", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.109+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8dcacba2-b492-448e-aef4-4a519ead3cfe", "parentComponentId": null }, { "bbox": { "h": 0.71, "w": 0.308, "x": 0.276, "y": 0.236 }, "kind": "chart", "text": "2030 Potential Risk Adjusted Revenues", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Stacked bar chart", "slug": "bar-stacked", "status": "active", "canonId": "019de52c-feec-74bf-9028-15b74f84f0a7", "version": 1, "description": null }, "framework": null }, "subkind": "bar-stacked", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.109+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c6ddc930-20a5-4ecf-9102-a689d13aeb37", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.19, "y": 0.9 }, "kind": "paragraph", "text": "Pfizer management expects these transactions to contribute >$20.5 billion in revenue by 2030.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.109+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "028a65e9-6459-49de-af03-0bffc2f89d0b", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.15, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company presentation.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.109+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2be1e5ca-acfd-4f69-a992-111ec5322fe6", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "The Company Expects Its Acquisitions Since 2022 to Generate >$20.5 Billion in Sales by 2030", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.109+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a27fd372-bc4e-43b5-959b-10f01365e9f4", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "837344b1-5581-4d8d-80bd-f888510f7ee1", "evidence": "The slide contrasts management's optimistic revenue projections with the high cost of acquisition to imply poor performance.", "framework": null, "confidence": 0.85, "extraction": { "at": "2026-05-02 10:54:01.109+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 43, "frameworkName": "fraud-exposure" } ], "arcBeats": [], "loops": [ { "to": 50, "from": 42, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "5cfd6c38-7f54-40a4-89ca-d5f3ce72ca30", "evidence": "The document highlights the costs of Pfizer's poor capital allocation, including overpaying for acquisitions and losing value.", "position": 1, "objective": "What are the consequences of Pfizer's poor capital allocation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.723116+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 44, "type": "setup", "title": "The chart uses a red bar to emphasize the outlier status of the 'PFE Consolidated Deals (Mgmt)' metric.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "sparse", "densityScore": 24, "componentCount": 4, "textChars": 390, "nDataPoints": 11, "notes": "The chart uses a red bar to emphasize the outlier status of the 'PFE Consolidated Deals (Mgmt)' metric.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:00.785+00", "seconds": 2.642, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/44", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-44", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "callout", "text": "The Company’s EV / Sales multiple for its M&A is higher than the industry median for the last 10 years.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.785+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7d31f114-4f4a-4c1c-b8e1-06fb34337010", "parentComponentId": null }, { "bbox": { "h": 0.55, "w": 0.9, "x": 0.05, "y": 0.23 }, "kind": "chart", "text": "EV / Peak Sales by Transaction Year", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.785+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b1bf5b44-ac30-4c8b-86bb-975af5a49e56", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.02, "y": 0.97 }, "kind": "source-note", "text": "Source: Wall Street research and public company presentation. (1) Revenue multiple based upon 2030 sales. (2) Entire Biopharma Industry >$1bn in TEV.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.785+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1b49f818-07c6-4555-9884-24af88d50ef0", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "Pfizer Appears to Have Overpaid For Its Post 2022 Acquisitions Based On the Company’s Own Sales Targets", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.785+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c588ca32-cbb8-4a6a-8f4e-0048f99f1292", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "4a928bc5-e56a-4581-b60a-887315c261d1", "evidence": "Comparing Pfizer's deal multiples against a 10-year industry median to demonstrate overpayment.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:00.785+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 44, "frameworkName": "comparison_frame" } ], "arcBeats": [], "loops": [ { "to": 50, "from": 42, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "5cfd6c38-7f54-40a4-89ca-d5f3ce72ca30", "evidence": "The document highlights the costs of Pfizer's poor capital allocation, including overpaying for acquisitions and losing value.", "position": 1, "objective": "What are the consequences of Pfizer's poor capital allocation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.723116+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 45, "type": "tension", "title": "The slide uses a stacked bar chart to contrast company expectations ($20.5bn) against sell-side consensus ($13.3bn).", "function": "expose_gap", "rawType": "comparison_table", "block": null, "metadata": { "slideType": "comparison_table", "slideTypeCanon": { "name": "Comparison table", "slug": "comparison_table", "status": "active", "canonId": "019de52d-0a06-73f8-8813-fe022fab1de2", "version": 1, "description": null }, "function": "expose_gap", "functionCanon": { "name": "Expose gap", "slug": "expose_gap", "status": "active", "canonId": "019de52d-1795-772d-8f3a-75ccfb93fe58", "version": 1, "description": null }, "density": "balanced", "densityScore": 29, "componentCount": 5, "textChars": 391, "nDataPoints": 8, "notes": "The slide uses a stacked bar chart to contrast company expectations ($20.5bn) against sell-side consensus ($13.3bn).", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:04.137+00", "seconds": 5.892, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/45", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-45", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.15, "x": 0.75, "y": 0.6 }, "kind": "callout", "text": "Sellside only estimates $13bn of sales from its acquisitions", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.137+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "165fbbb6-5b65-4410-8147-72c821d8c2d6", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.68, "x": 0.16, "y": 0.21 }, "kind": "chart", "text": "2030 Expected Sales From M&A: Management Estimates vs. Sellside Consensus ($bn)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Stacked bar chart", "slug": "bar-stacked", "status": "active", "canonId": "019de52c-feec-74bf-9028-15b74f84f0a7", "version": 1, "description": null }, "framework": null }, "subkind": "bar-stacked", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.137+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a4d64021-5412-4432-8ff2-a7bb3426f303", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.75, "x": 0.04, "y": 0.15 }, "kind": "paragraph", "text": "Wall Street research analysts expect the contributions from the Company's announced M&A ambitions to fall well short.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.137+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "66b08ba4-95f0-4813-96f5-4fb63bdd5a34", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company presentation, Bloomberg.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.137+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c812b1d6-b9a9-441e-8aff-e11fb278822b", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.92, "x": 0.04, "y": 0.04 }, "kind": "title", "text": "Wall Street Research Analysts Expect Sales of Pfizer's Deals to Fall Short By $7 Billion", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.137+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f61bce2a-4c79-4b46-be0f-8e8b1ae2a1ff", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Comparison frame", "slug": "comparison-frame", "status": "active", "bestFor": null, "canonId": "019dd9e1-484b-7399-a4fc-d14644b99f93", "version": 1, "bodyDocId": null, "description": "Two or more states/subjects placed side by side to expose a gap.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "57a6de55-4112-474b-96e4-3dcbcdb836a7", "evidence": "comparison_table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-17 03:40:41.1106+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 45, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [ { "matchId": "4a68c32e-4b7f-462a-8045-4b110bac9ca5", "evidence": "Direct comparison between management expectations and market consensus to highlight a performance gap.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:04.137+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 45, "frameworkName": "comparison_frame" } ], "arcBeats": [], "loops": [ { "to": 50, "from": 42, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "5cfd6c38-7f54-40a4-89ca-d5f3ce72ca30", "evidence": "The document highlights the costs of Pfizer's poor capital allocation, including overpaying for acquisitions and losing value.", "position": 1, "objective": "What are the consequences of Pfizer's poor capital allocation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.723116+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 46, "type": "setup", "title": "The chart highlights the discrepancy between management's valuation assumptions and consensus expectations.", "function": "show_valuation_bridge", "rawType": "valuation_table", "block": null, "metadata": { "slideType": "valuation_table", "slideTypeCanon": { "name": "Valuation table", "slug": "valuation_table", "status": "active", "canonId": "019de52d-12c3-77cd-8474-6cd39cf844cb", "version": 1, "description": null }, "function": "show_valuation_bridge", "functionCanon": { "name": "Show valuation bridge", "slug": "show_valuation_bridge", "status": "active", "canonId": "019de52d-1883-716e-9dec-4981e70b840a", "version": 1, "description": null }, "density": "balanced", "densityScore": 29, "componentCount": 5, "textChars": 373, "nDataPoints": 12, "notes": "The chart highlights the discrepancy between management's valuation assumptions and consensus expectations.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:01.577+00", "seconds": 3.156, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/46", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-46", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.9, "x": 0.05, "y": 0.235 }, "kind": "chart", "text": "EV / Peak Sales by Year", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a08b0d8b-ddbc-4e3e-a44e-2c5e45f6e16d", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.15, "x": 0.43, "y": 0.5 }, "kind": "legend", "text": "10 Year Median: 2.4x", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "807b6f57-8843-4df7-9784-f9fd2ecdb7e8", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "paragraph", "text": "Accounting for lower sales expectations highlights the lofty multiples paid by Pfizer.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b09d4961-74fe-4a0a-a8b1-bdeee452ac10", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Wall Street research and public company presentation. (1) Revenue multiple based upon 2030 sales. (2) Entire Biopharma Industry >$1bn in TEV.", "attrs": { "numbered": true }, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c1fa2f4a-da9a-42f3-aa01-c443df9bf61b", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "Pfizer Appears to Have Significantly Overpaid Based Upon Wall Street's Lower Sales Expectations", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.577+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "849da667-0201-4704-9007-eeb9b4eff049", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [ { "to": 50, "from": 42, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "5cfd6c38-7f54-40a4-89ca-d5f3ce72ca30", "evidence": "The document highlights the costs of Pfizer's poor capital allocation, including overpaying for acquisitions and losing value.", "position": 1, "objective": "What are the consequences of Pfizer's poor capital allocation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.723116+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 47, "type": "setup", "title": "The slide uses a combination of a table and a bar chart to illustrate the delta in valuation.", "function": "show_valuation_bridge", "rawType": "valuation_table", "block": null, "metadata": { "slideType": "valuation_table", "slideTypeCanon": { "name": "Valuation table", "slug": "valuation_table", "status": "active", "canonId": "019de52d-12c3-77cd-8474-6cd39cf844cb", "version": 1, "description": null }, "function": "show_valuation_bridge", "functionCanon": { "name": "Show valuation bridge", "slug": "show_valuation_bridge", "status": "active", "canonId": "019de52d-1883-716e-9dec-4981e70b840a", "version": 1, "description": null }, "density": "balanced", "densityScore": 30, "componentCount": 5, "textChars": 407, "nDataPoints": 12, "notes": "The slide uses a combination of a table and a bar chart to illustrate the delta in valuation.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:01.562+00", "seconds": 3.111, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/47", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-47", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "callout", "text": "We believe the Company likely lost more than $20 billion in value from M&A.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e6d67c66-8f45-4c5a-a886-dfa64bbe31dc", "parentComponentId": null }, { "bbox": { "h": 0.4, "w": 0.8, "x": 0.1, "y": 0.4 }, "kind": "chart", "text": "Bar chart showing values of $36, $24, and $21 for 10 Year Median, Advertised Multiples, and Current PFE EV/Sales", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d3126a24-b360-49bd-b185-3e0a366a458b", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.2, "x": 0.02, "y": 0.97 }, "kind": "source-note", "text": "Source: Wall Street research and Bloomberg.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dbd88136-755c-4aca-81a0-fd8231d823b9", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.8, "x": 0.1, "y": 0.2 }, "kind": "table", "text": "Cons. Est. Sales $13.3 / Market Multiple 2.4x, 3.3x, 3.5x / Value of M&A $32, $44, $47", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6f91f469-f003-4316-93b8-53a005bf5638", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Lower Sales Expectations at Market Multiples Suggest Significant Value Was Lost Through M&A", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1ae9773b-0c7c-4923-8598-79a214617d58", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "ec99d804-37cc-4398-9634-ec272f9d0556", "evidence": "The slide calculates value based on different multiples to show a delta.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:01.562+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 47, "frameworkName": "valuation-bridge" } ], "arcBeats": [], "loops": [ { "to": 50, "from": 42, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "5cfd6c38-7f54-40a4-89ca-d5f3ce72ca30", "evidence": "The document highlights the costs of Pfizer's poor capital allocation, including overpaying for acquisitions and losing value.", "position": 1, "objective": "What are the consequences of Pfizer's poor capital allocation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.723116+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 48, "type": "tension", "title": "Uses a press release excerpt with annotations to build a valuation argument.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 35, "componentCount": 6, "textChars": 424, "nDataPoints": 2, "notes": "Uses a press release excerpt with annotations to build a valuation argument.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:01.913+00", "seconds": 3.166, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/48", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-48", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.3, "x": 0.55, "y": 0.6 }, "kind": "callout", "text": "<2x multiple would have been great compared to market multiples!", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.913+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "61811d23-5d93-41dc-8cbf-2f09fa1160ba", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.35, "x": 0.18, "y": 0.225 }, "kind": "image", "text": "Excerpt From Pfizer Press Release", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.913+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "517dad65-6bc7-467b-ba7c-9df2fa204d74", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.3, "x": 0.55, "y": 0.35 }, "kind": "list", "text": "The Company purchased GBT for $5.4 billion... ... and expected to generate more than $3 billion in peak sales", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.913+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e9ef401b-19b4-4ec4-826c-024adedd13cf", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.7, "x": 0.03, "y": 0.15 }, "kind": "paragraph", "text": "In 2022, the Company acquired Global Blood Therapeutics for $5.4 billion with a focus on sickle-cell disease.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.913+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3077f35e-1c59-40bb-9dfa-0b1dd554d71a", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.03, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company filings.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.913+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8e3626e7-27f1-4845-97e3-82f0fb14b20e", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "In 2022, the Company Acquired Global Blood Therapeutics For Over $5 Billion...", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.913+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fe25be5a-2f20-490b-a69f-53cc14fe0e87", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "7b7eee2c-8199-4932-b421-6df9e216d3f9", "evidence": "Uses press release data to highlight a valuation discrepancy or strategic critique.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:01.913+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 48, "frameworkName": "fraud-exposure" } ], "arcBeats": [], "loops": [ { "to": 50, "from": 42, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "5cfd6c38-7f54-40a4-89ca-d5f3ce72ca30", "evidence": "The document highlights the costs of Pfizer's poor capital allocation, including overpaying for acquisitions and losing value.", "position": 1, "objective": "What are the consequences of Pfizer's poor capital allocation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.723116+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 49, "type": "tension", "title": "The slide uses a direct quote/screenshot from a press release to undermine the value of a previous acquisition (GBT).", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 22, "componentCount": 5, "textChars": 386, "nDataPoints": 0, "notes": "The slide uses a direct quote/screenshot from a press release to undermine the value of a previous acquisition (GBT).", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:02.31+00", "seconds": 3.311, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/49", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-49", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.92, "x": 0.04, "y": 0.9 }, "kind": "callout", "text": "Pfizer decided that OXBRYTA’s benefits no longer outweighed its risks and pulled the product from the market.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.31+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1569087c-99a1-4310-8ea2-6892caba9296", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.52, "x": 0.24, "y": 0.225 }, "kind": "image", "text": "Excerpt From Pfizer Press Release", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Screenshot", "slug": "screenshot", "status": "active", "canonId": "019de52c-fd87-7509-8391-3d79fb339379", "version": 1, "description": null }, "framework": null }, "subkind": "screenshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.31+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "91212fdc-c7bb-460f-9f53-4567daa4d027", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.75, "x": 0.04, "y": 0.15 }, "kind": "paragraph", "text": "In September 2024, Pfizer suddenly voluntarily withdrew GBT’s lead sickle cell disease treatment from the market.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.31+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1260bbc8-6747-4700-9dc7-a4ab89f39ab9", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.15, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company press release.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.31+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b4991c10-8569-4e6d-9c2c-fba5a695df9f", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.04 }, "kind": "title", "text": "... But Recently the Company Removed GBT’s Main Drug From the Market Following Adverse Effects", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.31+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e44bad90-b353-4bf6-91f4-2c9f56e3da94", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "1aff7d43-97bd-4b45-9b04-c5986af3557f", "evidence": "Uses a company's own press release to expose a negative outcome that contradicts previous investment thesis.", "framework": null, "confidence": 0.85, "extraction": { "at": "2026-05-02 10:54:02.31+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 49, "frameworkName": "fraud-exposure" } ], "arcBeats": [], "loops": [ { "to": 50, "from": 42, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "5cfd6c38-7f54-40a4-89ca-d5f3ce72ca30", "evidence": "The document highlights the costs of Pfizer's poor capital allocation, including overpaying for acquisitions and losing value.", "position": 1, "objective": "What are the consequences of Pfizer's poor capital allocation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.723116+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 50, "type": "tension", "title": "The slide uses analyst quotes to frame Pfizer's acquisition strategy as flawed.", "function": "expose_contradiction", "rawType": "quote_slide", "block": null, "metadata": { "slideType": "quote_slide", "slideTypeCanon": { "name": "Quote slide", "slug": "quote_slide", "status": "active", "canonId": "019de52d-098e-7555-a9fd-4f0af7e80bc2", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 43, "componentCount": 6, "textChars": 834, "nDataPoints": 0, "notes": "The slide uses analyst quotes to frame Pfizer's acquisition strategy as flawed.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:02.959+00", "seconds": 3.96, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/50", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-50", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.04, "w": 0.92, "x": 0.04, "y": 0.18 }, "kind": "callout", "text": "Select Quotes from Wall Street Research Analysts", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.959+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "389ff556-f325-45e1-adbe-31e64d39135f", "parentComponentId": null }, { "bbox": { "h": 0.22, "w": 0.92, "x": 0.04, "y": 0.6 }, "kind": "quote", "text": "“When you cover biotech and pharma - it's hard to find a headline that's truly jarring, but news that PFE is recalling Oxbryta/discontinuing all active trials after seeing a death/ VOC imbalance in clinical trials & lack of overall risk-benefit fits the bill.” Jefferies – Sept 26, 2024", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.959+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2dc8e0b5-ef86-4e18-bc6c-aa157de6ac01", "parentComponentId": null }, { "bbox": { "h": 0.28, "w": 0.92, "x": 0.04, "y": 0.25 }, "kind": "quote", "text": "“Oxbryta pulled from market; $5.4bn GBT deal latest example of challenged BD track record... this will again raise questions on Pfizer's BD effort - feeding into old criticism around Pfizer's ability to pick winners through BD.” Barclays – Sept 25, 2024", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.959+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7db6d5e4-0878-438a-907d-7268bfc9e73c", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Wall Street research. Quotes are bolded and underlined for emphasis.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.959+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bfb7b904-8ea4-4822-af2c-35826e4a7d18", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.92, "x": 0.04, "y": 0.89 }, "kind": "title", "text": "Wall Street analysts were shocked by Pfizer's recall of OXBRYTA.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.959+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2cd08be0-8fc2-41ce-b8a6-2ebd1cf1386b", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "Pfizer’s Failed GBT Acquisition Shocked the Industry and Raised Serious Questions About Its BD Capabilities", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.959+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3ebca801-dad5-453e-8598-bc48f0892bca", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [ { "to": 50, "from": 42, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "5cfd6c38-7f54-40a4-89ca-d5f3ce72ca30", "evidence": "The document highlights the costs of Pfizer's poor capital allocation, including overpaying for acquisitions and losing value.", "position": 1, "objective": "What are the consequences of Pfizer's poor capital allocation?", "confidence": 0.7, "extraction": { "at": "2026-07-16 22:45:15.723116+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 51, "type": "setup", "function": "transition", "rawType": "section_divider", "block": null, "metadata": { "slideType": "section_divider", "slideTypeCanon": { "name": "Section divider", "slug": "section_divider", "status": "active", "canonId": "019de52d-066a-7402-9554-6ae504999041", "version": 1, "description": null }, "function": "transition", "functionCanon": { "name": "Transition", "slug": "transition", "status": "active", "canonId": "019de52d-1365-7149-92aa-66df859e75fd", "version": 1, "description": null }, "density": "sparse", "densityScore": 1, "componentCount": 1, "textChars": 35, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:00.546+00", "seconds": 1.542, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/51", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-51", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.5, "x": 0.04, "y": 0.48 }, "kind": "title", "text": "D. Forecasting and Budgeting Issues", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:00.546+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "88bc7920-2991-41c3-a08b-f096c7286041", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 52, "type": "tension", "title": "Uses checkmarks and X marks to visualize performance; highlights 2021-2022 as a 'COVID Benefit' period.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 36, "componentCount": 6, "textChars": 417, "nDataPoints": 4, "notes": "Uses checkmarks and X marks to visualize performance; highlights 2021-2022 as a 'COVID Benefit' period.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:03.609+00", "seconds": 4.569, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/52", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-52", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.1, "x": 0.5, "y": 0.45 }, "kind": "legend", "text": "COVID Benefit", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.609+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f2cc5995-0a87-47a0-bcc7-125bb6c498ec", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.94, "x": 0.03, "y": 0.6 }, "kind": "list", "text": "The Company has missed consensus expectations 8 out of 22 quarters — 64% Success Rate; Ex. COVID: The Company has missed consensus expectations 7 out of 14 quarters — 50% Success Rate", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.609+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9f9dc225-c907-4258-95a0-d59fe6d68ae5", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.9 }, "kind": "paragraph", "text": "The Company has a poor record of achieving consensus expectations.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.609+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c3bc774b-e305-46ca-b782-5816f33e9700", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.1, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Bloomberg.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.609+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ba49b4f3-0879-40df-93bf-ca99c89811a8", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.94, "x": 0.03, "y": 0.25 }, "kind": "table", "text": "Summary of Quarterly Results vs. Expectations", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.609+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "cba37c7b-44f1-4619-8765-65dceebaa921", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.8, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "The Company Has a Poor Track Record of Achieving Quarterly Consensus Expectations Since 2019", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.609+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4771a322-2555-4ecf-8c3c-17a7acd8bc22", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "8950a3b7-13c3-43f8-bb9e-85ef2e648b86", "evidence": "Exposing poor performance track record to undermine management credibility.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:03.609+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 52, "frameworkName": "fraud-exposure" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 53, "type": "setup", "title": "The chart uses color coding (red bars) to emphasize Pfizer's lower consistency compared to the peer group.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 25, "componentCount": 4, "textChars": 413, "nDataPoints": 12, "notes": "The chart uses color coding (red bars) to emphasize Pfizer's lower consistency compared to the peer group.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:02.332+00", "seconds": 3.272, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/53", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-53", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.89 }, "kind": "callout", "text": "Pfizer achieves consensus sales expectations less consistently than its peers.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.332+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9325ed21-2d03-41f0-9f5e-92a24d8708ec", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.9, "x": 0.05, "y": 0.22 }, "kind": "chart", "text": "Quarterly Success Rate Since 2019 (Achieving Consensus Sales Expectations)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.332+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b2911357-eecc-4aee-b25f-89df0593c29e", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.65, "x": 0.03, "y": 0.95 }, "kind": "source-note", "text": "Source: Bloomberg. Starboard has identified BMY, AZN, JNJ, NOVN, ROG, MRK, SAN, GILD, ABBV, AMGN, LLY, NVO, and GSK as the relevant peer set for comparing PFE.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.332+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "719069fd-4dca-45ed-8d38-99790c5dd820", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "Notably, the Company's Peers Are Meaningfully More Consistent Than Pfizer At Achieving Consensus Sales", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.332+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "18d01b0f-b21d-4dea-9326-d3cf1120aa3e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "b07a3c7a-4eca-4906-9693-00d46eb08121", "evidence": "Direct comparison of Pfizer's performance metrics against a defined peer group.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:02.332+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 53, "frameworkName": "comparison-frame" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 54, "type": "tension", "title": "Uses red 'X' icons to visually emphasize the failure to meet expectations.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 17, "componentCount": 4, "textChars": 217, "nDataPoints": 2, "notes": "Uses red 'X' icons to visually emphasize the failure to meet expectations.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:01.695+00", "seconds": 2.578, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/54", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-54", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.9 }, "kind": "callout", "text": "The Company misjudged the durability of COVID sales.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.695+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3e0c6a54-e751-4531-9c67-99332555d230", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.15, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company filings.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.695+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f0755672-7f60-442c-9302-fb8c06a628b6", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.94, "x": 0.03, "y": 0.22 }, "kind": "table", "text": "COVID Assumptions vs. Results table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.695+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c46bcc46-3738-4ddd-b1d2-97604eba6509", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.94, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "We Believe COVID Represents the Clearest Example of the Company Improperly Forecasting Its Business", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:01.695+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c85f2624-5b40-42c5-8881-f1b61dacdbb1", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "e8f7762e-02d8-4745-afe8-da521f0d5c94", "evidence": "Direct comparison of management guidance vs actual results to prove incompetence.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:54:01.695+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 54, "frameworkName": "expose_contradiction" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 55, "type": "tension", "title": "The slide uses a waterfall-like annotation to explain the drop in sales from 2022 to 2023.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 30, "componentCount": 5, "textChars": 497, "nDataPoints": 3, "notes": "The slide uses a waterfall-like annotation to explain the drop in sales from 2022 to 2023.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:02.624+00", "seconds": 3.185, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/55", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-55", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.25, "x": 0.7, "y": 0.3 }, "kind": "callout", "text": "Lower COVID sales based on (i) inventory absorption and (ii) management's assumed level of normalized utilization", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3ffa168e-e3ae-4dc1-98d9-6702a5605157", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.92, "x": 0.04, "y": 0.23 }, "kind": "chart", "text": "Pfizer's COVID Vaccine and Paxlovid Sales (2021 – 2023) ($mm)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "843d438f-fcba-4257-abef-c0bbc99d4ffa", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.92, "x": 0.04, "y": 0.15 }, "kind": "paragraph", "text": "While management recognized 2022 COVID-19 sales resulted in an inventory build-up, it still assumed a significant level of COVID sales in 2023 with increases thereafter.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f98c5682-6524-47dc-b2cb-eca5ae60cfb9", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.16, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company filings and transcripts.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c293762d-be26-43b1-a923-a5f8596c456d", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.85, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "Pfizer Guided to 2023 COVID Sales of $21.5 Billion Based On Inventory Absorption and Normalized Utilization", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e959183e-e309-4b6a-8a31-038608547749", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "5025c666-0b44-4b1e-8373-a29e45461317", "evidence": "The slide contrasts management's recognition of inventory build-up with their optimistic 2023 guidance to imply a contradiction.", "framework": null, "confidence": 0.85, "extraction": { "at": "2026-05-02 10:54:02.624+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 55, "frameworkName": "fraud-exposure" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 56, "type": "tension", "title": "The slide uses a chart to highlight management's optimistic outlook, likely to contrast with actual performance or market skepticism.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 21, "componentCount": 5, "textChars": 366, "nDataPoints": 0, "notes": "The slide uses a chart to highlight management's optimistic outlook, likely to contrast with actual performance or market skepticism.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:02.76+00", "seconds": 3.256, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/56", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-56", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.3, "x": 0.35, "y": 0.35 }, "kind": "callout", "text": "Management expected doses sold to increase every year after 2023", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.76+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "080b40b3-3183-423d-be2b-c8ea8573211d", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.7, "x": 0.15, "y": 0.2 }, "kind": "chart", "text": "Anticipated Long-Term Comirnaty U.S. Doses Sold", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.76+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3576f172-c799-413a-b7a2-bda804f9c211", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.1, "y": 0.9 }, "kind": "paragraph", "text": "Despite a significant reduction in COVID-19 sales for 2023, management expected growth to resume in 2024.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.76+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "145b19c1-cb35-4592-82cd-1979ad36d0a9", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.3, "y": 0.16 }, "kind": "source-note", "text": "Excerpt from Pfizer's Q4 2022 Earnings Presentation", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.76+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "55bc4584-9edc-4a35-a84b-23c1dff05882", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Importantly, Management Expected 2023 COVID Sales to be the Trough With Sustained Growth Thereafter", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.76+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bc5d5028-896e-42d3-8a41-14b5de2e9f30", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "f6c1cc21-2f04-4805-91a3-d17a4854dd82", "evidence": "Contrasts management's past optimistic projections with the implied reality of the activist's critique.", "framework": null, "confidence": 0.85, "extraction": { "at": "2026-05-02 10:54:02.76+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 56, "frameworkName": "ceo-quote-contradiction" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 57, "type": "tension", "title": "The slide uses a red color for the actuals bar and the annotation to emphasize the negative performance.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 33, "componentCount": 6, "textChars": 369, "nDataPoints": 2, "notes": "The slide uses a red color for the actuals bar and the annotation to emphasize the negative performance.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:02.37+00", "seconds": 2.839, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/57", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-57", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.18, "x": 0.51, "y": 0.33 }, "kind": "callout", "text": "MISSED guidance by $9 billion...", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.37+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1966f73d-7b9e-461b-bc99-4235659ca5c2", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.25, "x": 0.7, "y": 0.63 }, "kind": "callout", "text": "The magnitude of this miss affects budgets and cost structure", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.37+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7a7ec7e7-daa8-4527-8a63-90b39065a7f5", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.92, "x": 0.04, "y": 0.205 }, "kind": "chart", "text": "Pfizer's 2023 COVID Sales: Guidance vs. Actuals ($mm)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.37+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "86f2cf69-c86b-475e-8890-6d281a8ad676", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.65, "x": 0.04, "y": 0.15 }, "kind": "paragraph", "text": "The Company ultimately fell significantly short of its expected 2023 COVID-19 sales by $9 billion.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.37+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4e49bf77-9897-489a-b449-36a020f8ce52", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.15, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company filings.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.37+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bdeea605-920a-46de-94b6-7fb443c5a88b", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "Unfortunately, the Company Ultimately Missed Its 2023 COVID Sales Guidance By a Wide Margin...", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.37+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4c4b12a1-996e-4c83-8ed8-dbadcd39c4a2", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "f8d8ee84-ee63-4f4e-941e-bb4dce456231", "evidence": "Highlighting a significant miss in guidance to imply management failure.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:02.37+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 57, "frameworkName": "fraud-exposure" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 58, "type": "tension", "title": "Uses red color coding to emphasize the negative performance and missed guidance.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 47, "componentCount": 7, "textChars": 491, "nDataPoints": 3, "notes": "Uses red color coding to emphasize the negative performance and missed guidance.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 15:30:02.405+00", "seconds": 3.538, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/58", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-58", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.06, "w": 0.25, "x": 0.69, "y": 0.57 }, "kind": "callout", "text": "... and expects further ~$4 billion reduction instead of growth!", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 15:30:02.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "28287e05-8294-4298-8338-ce17d5c0e86c", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.16, "x": 0.42, "y": 0.42 }, "kind": "callout", "text": "MISSED guidance by $9 billion...", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 15:30:02.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c705eafd-2345-4ffe-991a-62e59e9ca928", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.92, "x": 0.04, "y": 0.218 }, "kind": "chart", "text": "Pfizer's Expected COVID Sales Progression ($mm)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 15:30:02.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9f2aa7e6-2c99-4c17-bd91-4f954c57ed60", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.92, "x": 0.04, "y": 0.15 }, "kind": "paragraph", "text": "While management assumed COVID-19 sales would increase after 2023's inventory absorption, its guidance now assumes even further reductions into 2024.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 15:30:02.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a24930b7-bf8d-4436-85cc-615411fa177b", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.1, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company filings.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 15:30:02.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "088f2d65-0e53-4d76-928f-4c7004e451d7", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.92, "x": 0.04, "y": 0.9 }, "kind": "title", "text": "Management incorrectly expected COVID-19 sales to increase after 2023.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 15:30:02.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b4854d04-bf57-4ebb-aa04-03e7f0d43e92", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "... And Now Expects 2024 COVID Sales to Decline Instead of Its Initial Sustained Growth Assumption", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 15:30:02.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "26953080-939a-4079-a328-18024208823f", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "60d24a8c-0b85-42f5-a444-5ae13e8aeeb4", "evidence": "Highlights discrepancy between management guidance and actual results to undermine credibility.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 15:30:02.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 58, "frameworkName": "fraud-exposure" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 59, "type": "evidence", "title": "Uses a red-blue contrast to emphasize the negative gap between market expectations and company guidance.", "function": "expose_contradiction", "rawType": "before_after", "block": null, "metadata": { "slideType": "before_after", "slideTypeCanon": { "name": "Before / after", "slug": "before_after", "status": "active", "canonId": "019de52d-11fd-771e-bb45-e27f849bc560", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "balanced", "densityScore": 34, "componentCount": 6, "textChars": 382, "nDataPoints": 2, "notes": "Uses a red-blue contrast to emphasize the negative gap between market expectations and company guidance.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:06.236+00", "seconds": 6.577, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/59", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-59", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.15, "x": 0.73, "y": 0.35 }, "kind": "callout", "text": "Initial 2024 Adj. EPS guidance missed expectations by over $1.00/shr!", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "29563639-443e-4e9e-9ec0-da70863d5e7f", "parentComponentId": null }, { "bbox": { "h": 0.52, "w": 0.72, "x": 0.14, "y": 0.34 }, "kind": "chart", "text": "Comparison of $3.20 consensus vs $2.15 guidance", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1c536427-0c77-48f1-b3a4-eacf92335bb3", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "paragraph", "text": "Poor COVID expectations and projections led to a significant earnings guidance miss.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "499f8d3b-af2c-4ef4-a84b-bb25042f0176", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.1, "x": 0.01, "y": 0.98 }, "kind": "source-note", "text": "Source: Public company filings.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "66d4a068-286c-425d-a194-87c020dc1974", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Lower-Than-Expected 2024 COVID Guidance Resulted In a Substantial 2024 Earnings Guidance Miss", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "86d5f89d-2c0a-4fb2-af50-18e1ca2ebe40", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.16 }, "kind": "title", "text": "2024 Adj. EPS: Consensus Expectations vs. Initial Guidance", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7e3c992a-809f-40b7-aa14-a733fd55d859", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "d5453aaa-69d2-4a6e-9937-dc832d28ef8c", "evidence": "Compares market consensus (before/expectation) to company guidance (after/reality) to highlight a performance gap.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:06.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 59, "frameworkName": "before-after-framing" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 60, "type": "tension", "title": "The slide uses bolded and underlined text within quotes to highlight key negative sentiment.", "function": "expose_contradiction", "rawType": "testimonial", "block": null, "metadata": { "slideType": "testimonial", "slideTypeCanon": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52d-0a2d-7782-8a48-7e84df92cc97", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "dense", "densityScore": 66, "componentCount": 7, "textChars": 1874, "nDataPoints": 0, "notes": "The slide uses bolded and underlined text within quotes to highlight key negative sentiment.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:03.237+00", "seconds": 3.449, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/60", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-60", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.9 }, "kind": "callout", "text": "The massive earnings guidance miss significantly damaged management's credibility.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.237+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2264a1ba-9f12-4cb4-a8ec-438549907e57", "parentComponentId": null }, { "bbox": { "h": 0.18, "w": 0.94, "x": 0.03, "y": 0.21 }, "kind": "quote", "text": "Investors in PFE have been battered twice in the last 2 weeks - the first came with danuglipron's failure (oral GLP1),the second with the new guidance. No doubt there was an element of capitulation... In other words, despite a year of major underperformance, it's hard to say PFE's a \"buy.\" Some credibility has been lost, and the near-term catalyst path is not a strong one.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.237+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "556dceb3-0ddc-460f-95e7-2b0f28a3a314", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.94, "x": 0.03, "y": 0.43 }, "kind": "quote", "text": "Given the high number of questions we have received on EPS and margin dynamics and the implications for 2025 results, we do not see today's update as a clearing event. Today's update essentially should provide a floor on COVID estimates and EPS, in our view. However, there remains a significant amount of uncertainty on what is driving 2024 margins & EPS so low (i.e. whether this is due to depressed COVID guidance or there is an issue with the core business margins, or a mix of both). And based on our conversations, we expect that investors will have a hard time stepping into the story until they gain further clarity.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.237+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "84086121-615b-47fe-af08-3224bfae11df", "parentComponentId": null }, { "bbox": { "h": 0.18, "w": 0.94, "x": 0.03, "y": 0.71 }, "kind": "quote", "text": "But we don't have much conviction in the outlook, making it tough to pound the table even from these levels... Level Of Confidence In Management - Our confidence is not the highest for several reasons. PFE provided guidance on many parameters but in retrospect much of it is proving to have been too optimistic, is no longer supported, and resulted in two reductions in 2023. We were not fans of the Seagen acquisition from the start, given that each of the key assets has associated questions, making the outlook less than clear, particularly given the price paid.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.237+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f9495e4c-2eca-42bc-b34a-daf76dae28e3", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Wall Street research. Quotes are bolded and underlined for emphasis.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.237+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2340e66b-2c6d-44e7-ba35-14a67ce0dddb", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.94, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "Notably, the Magnitude of the Company's Guidance Miss Resulted In a Blow to Management's Credibility", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.237+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "37a84670-28ab-4a92-9968-741cc54c0a08", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.15 }, "kind": "title", "text": "Select Commentary From Wall Street Research Analysts", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.237+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d9d90fb6-ce99-4e9a-a853-ac1b03a0fd1b", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "e452627e-03e7-43f2-8f97-7b0a98974374", "evidence": "Use of Wall Street analyst quotes to validate the thesis.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:03.237+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 60, "frameworkName": "authority-citation" } ], "arcBeats": [], "loops": [], "locked": true }, { "page": 61, "type": "setup", "function": "transition", "rawType": "section_divider", "block": null, "metadata": { "slideType": "section_divider", "slideTypeCanon": { "name": "Section divider", "slug": "section_divider", "status": "active", "canonId": "019de52d-066a-7402-9554-6ae504999041", "version": 1, "description": null }, "function": "transition", "functionCanon": { "name": "Transition", "slug": "transition", "status": "active", "canonId": "019de52d-1365-7149-92aa-66df859e75fd", "version": 1, "description": null }, "density": "sparse", "densityScore": 0, "componentCount": 1, "textChars": 10, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:02.008+00", "seconds": 2.088, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/61", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-61", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.14, "x": 0.04, "y": 0.47 }, "kind": "title", "text": "Conclusion", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:02.008+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d6a01c52-6f8e-4fab-a244-33cbefa7ce0e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 62, "type": "tension", "title": "The slide uses highlighting to emphasize key phrases in the CEO's quote regarding TSR and innovation.", "function": "cite_precedent", "rawType": "ceo_quote", "block": null, "metadata": { "slideType": "ceo_quote", "slideTypeCanon": { "name": "CEO quote", "slug": "ceo_quote", "status": "active", "canonId": "019de52d-09b6-71c8-93a5-f90a9772a8fa", "version": 1, "description": null }, "function": "cite_precedent", "functionCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-142b-714b-86d4-58aad7b568ec", "version": 1, "description": null }, "density": "dense", "densityScore": 51, "componentCount": 6, "textChars": 993, "nDataPoints": 1, "notes": "The slide uses highlighting to emphasize key phrases in the CEO's quote regarding TSR and innovation.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:03.199+00", "seconds": 3.235, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/62", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-62", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.9 }, "kind": "callout", "text": "Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.199+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8e8db67e-2b19-4c0c-bb51-8a4108c6c986", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.1, "x": 0.85, "y": 0.5 }, "kind": "image", "text": "Albert Bourla", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Headshot", "slug": "headshot", "status": "active", "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf", "version": 1, "description": null }, "framework": null }, "subkind": "headshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.199+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "206e7dce-df9d-4e00-9143-0fab0dff743b", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.15 }, "kind": "paragraph", "text": "Excerpt From 2019 Goldman Sachs Conference (January 3, 2019)", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.199+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a06f1e71-360e-4291-a7a7-65c3786616ef", "parentComponentId": null }, { "bbox": { "h": 0.4, "w": 0.75, "x": 0.03, "y": 0.4 }, "kind": "quote", "text": "I think -- well, it's inevitable that for every CEO, the success is measured through -- with total shareholder return... And the purpose of the pharma company is to bring breakthrough products that change patients' lives... So a way to measure it, for us, it is we have put out there a list of 15 potential blockbusters that could come by the year -- in 5 years... And I think my focus would be to make sure that we deliver more than our fair risk adjustment of this number, and that will be success.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.199+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "39e2d4b2-c79b-46d1-878c-b07eef90d711", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.8, "x": 0.15, "y": 0.215 }, "kind": "quote", "text": "But as you think about what markers you want to set for the company in the near term, so maybe in 12 months' time, kind of on a 3-year view or a 5-year view, how do you deem success over the short term?:", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.199+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f7b28ace-3269-486e-9412-859334b478a8", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.8, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "We Agree with Management – TSR and Innovation Are the Defining Characteristics of Success for a Pharma Company", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.199+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b80737ca-d687-4d03-b093-7a327c9ff763", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "1f386f6e-6dcd-4642-bdeb-75f777827ef3", "evidence": "Using CEO quote to validate activist thesis", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:03.199+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 62, "frameworkName": "authority-citation" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 63, "type": "setup", "title": "The chart uses a red vertical arrow to explicitly quantify the 132-point gap between the S&P 500 and Pfizer.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "sparse", "densityScore": 22, "componentCount": 5, "textChars": 204, "nDataPoints": 3, "notes": "The chart uses a red vertical arrow to explicitly quantify the 132-point gap between the S&P 500 and Pfizer.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:03.363+00", "seconds": 3.061, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/63", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-63", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.3, "w": 0.1, "x": 0.85, "y": 0.4 }, "kind": "callout", "text": "132pts of underperformance", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9c406493-330a-4c4e-b29d-6e1a5a437521", "parentComponentId": null }, { "bbox": { "h": 0.7, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "chart", "text": "Pfizer Total Shareholder Returns", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e7ec4cde-3a23-4141-a116-e8b00fa74843", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 1, "x": 0, "y": 0.9 }, "kind": "paragraph", "text": "Pfizer has underperformed over the last five years.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "82034988-f087-4080-81b9-02de2929e97a", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Bloomberg. Market data as of October 4, 2024.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "57a0e0ce-027c-4f9a-b0b4-2a9574193fc9", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.04, "y": 0.05 }, "kind": "title", "text": "The Company's TSR Since 2019 Has Been Poor", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "37ccb413-d2e8-46ae-a36b-0236cfb8a66b", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "b3373b4a-e274-44c6-8270-bcf818b040ec", "evidence": "Comparing company performance against market indices to establish underperformance.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:03.363+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 63, "frameworkName": "comparison-frame" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 64, "type": "tension", "title": "The slide uses a competitor's own slide to demonstrate failure to meet stated objectives.", "function": "expose_contradiction", "rawType": "expose_contradiction", "block": null, "metadata": { "slideType": "expose_contradiction", "slideTypeCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-124c-75aa-984a-0a3d0d8fc8df", "version": 1, "description": null }, "function": "expose_contradiction", "functionCanon": { "name": "Expose contradiction", "slug": "expose_contradiction", "status": "active", "canonId": "019de52d-171f-776f-887c-73edaff4cf9c", "version": 1, "description": null }, "density": "sparse", "densityScore": 22, "componentCount": 4, "textChars": 282, "nDataPoints": 15, "notes": "The slide uses a competitor's own slide to demonstrate failure to meet stated objectives.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:03.68+00", "seconds": 3.234, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/64", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-64", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.03, "y": 0.9 }, "kind": "paragraph", "text": "We do not believe Pfizer achieved “constant” and “breakthrough” innovations.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.68+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "400d6da0-5b10-4cc0-a168-8bbba5c70995", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company presentation.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.68+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "525a5971-226a-4d6d-921a-b8b07333107e", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.62, "x": 0.19, "y": 0.215 }, "kind": "table", "text": "Table showing 15 programs, their therapeutic areas, next steps, and timing, with status indicators.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.68+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "89c587eb-ef8e-46f7-9e84-3053265f5186", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.8, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "The Company Also Failed to Achieve Constant and Breakthrough Innovation", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.68+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6cb1866c-5cc9-417b-be55-cc0b93445bda", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "7733716f-a76c-4d39-9629-863e02cb4966", "evidence": "Uses company's own slide to contradict their claims of innovation.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:03.68+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 64, "frameworkName": "ceo-quote-contradiction" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 65, "type": "setup", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "sparse", "densityScore": 11, "componentCount": 3, "textChars": 325, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:03.062+00", "seconds": 2.524, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/65", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-65", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.3, "w": 0.8, "x": 0.1, "y": 0.2 }, "kind": "paragraph", "text": "For large pharma companies, like many other companies, it is critical to have the discipline to achieve the right return on investment. Management needs to be held accountable for capital allocation.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "44d1a67e-76da-4ee3-847a-75502625329a", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "title", "text": "Capital allocation is a key value driver for large pharma.", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Action title", "slug": "action-title", "status": "active", "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d", "version": 1, "description": null }, "framework": null }, "subkind": "action-title", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4f58036f-dbe0-44cc-ab31-04d2a1b5dc18", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Capital Allocation Is Extremely Important For Large Pharma Companies", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:03.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6cea8bf1-eade-48f5-9684-54e29e565c9a", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "668576f9-4372-4ddb-b3f2-8e4f6860c50f", "evidence": "The slide explicitly discusses the importance of capital allocation and management accountability.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:03.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 65, "frameworkName": "capital-allocation-framework" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 66, "type": "setup", "title": "The chart uses a broken axis for the top two performers (NVO, LLY) to accommodate the scale.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 27, "componentCount": 4, "textChars": 475, "nDataPoints": 14, "notes": "The chart uses a broken axis for the top two performers (NVO, LLY) to accommodate the scale.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:06.614+00", "seconds": 5.863, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/66", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-66", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.04, "w": 0.92, "x": 0.04, "y": 0.87 }, "kind": "callout", "text": "The Company is expected to generate worst-in-class returns on R&D and M&A.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.614+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "142c0d1c-0579-4789-bb90-e0825955998e", "parentComponentId": null }, { "bbox": { "h": 0.62, "w": 0.92, "x": 0.04, "y": 0.22 }, "kind": "chart", "text": "Expected Revenue Return on R&D + M&A Investments", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.614+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f14369fa-cc04-4be0-89da-81ece93bd6bb", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.75, "x": 0.04, "y": 0.93 }, "kind": "source-note", "text": "Source: Public company filings and Bloomberg. (1) Cumulative R&D spend from 2019 to 2023. Includes IPR&D not captured by M&A. (2) Cumulative M&A spend from 2019 to 2023. (3) Cumulative R&D excludes estimated COVID-related R&D of $4 billion.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.614+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "93383242-6791-486f-9fc4-85feeaafa39e", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.92, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "We Believe the Root Cause of Pfizer's Issues Are Its Low Expected Return on Organic and Inorganic R&D Investments", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.614+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0f4cb44c-a852-4b65-aee4-743cb00fba79", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "f68413d7-63a3-470a-9522-582067607544", "evidence": "Benchmarking Pfizer's R&D efficiency against a peer group.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:06.614+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 66, "frameworkName": "comparison_frame" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 70, "from": 66, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null }, "matchId": "3e7f589c-1016-46fa-a786-ecdd6d3310b8", "evidence": "The document proposes a breakdown of Pfizer's R&D investments and suggests that the company needs to achieve higher revenue growth based on its R&D and M&A investments.", "position": 2, "objective": "How can Pfizer improve its return on R&D investments?", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:45:15.764241+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 67, "type": "analysis", "title": "Uses a simple division framework to highlight capital allocation inefficiency.", "function": "analyze_data", "rawType": "valuation_table", "block": null, "metadata": { "slideType": "valuation_table", "slideTypeCanon": { "name": "Valuation table", "slug": "valuation_table", "status": "active", "canonId": "019de52d-12c3-77cd-8474-6cd39cf844cb", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 55, "componentCount": 8, "textChars": 492, "nDataPoints": 4, "notes": "Uses a simple division framework to highlight capital allocation inefficiency.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:04.352+00", "seconds": 3.204, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/67", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-67", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.12, "w": 0.64, "x": 0.03, "y": 0.66 }, "kind": "callout", "text": "Expected Revenue Return on R&D + M&A Investments: 15%", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.352+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4a5cbcfe-8f04-4a98-8ce7-e1bde4e20538", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.45, "x": 0.04, "y": 0.49 }, "kind": "list", "text": "Cumulative R&D + M&A Investments From 2019 to 2023(1): $128 billion", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.352+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "78c05882-3502-4b11-ab77-99e65ec9ee75", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.45, "x": 0.04, "y": 0.315 }, "kind": "list", "text": "2023 to 2030 Consensus Estimated Gross Sales Growth: $19 billion", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.352+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e4974a0c-147c-49db-9172-c1af7dbf8cdb", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.165 }, "kind": "paragraph", "text": "Illustrative Explanation of R&D and M&A Efficiency", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.352+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "415a5050-884c-4adc-ba6a-a9f705d66a49", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.94, "x": 0.03, "y": 0.9 }, "kind": "paragraph", "text": "This is not acceptable.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.352+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e133b8d0-4af1-40ca-9305-08f0c3a0938f", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.38, "y": 0.8 }, "kind": "source-note", "text": "Reminder: Peer Median is ~38%", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.352+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1cc7315e-d84e-4fc9-b0b9-2ae7c785af59", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.45, "x": 0.01, "y": 0.975 }, "kind": "source-note", "text": "Source: Public company filings, Visible Alpha, Bloomberg, and CapIQ. (1) Excludes estimated COVID-related R&D of $4 billion.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.352+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "46d69c54-38a7-44af-b83d-a2cb27b20d94", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "The Board Needs to Be Laser Focused On Tracking Pfizer's Return on R&D Investments", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.352+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e439846c-7f53-49b3-a7ab-da37affc22e0", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "d98c2669-edbe-4531-863f-0e280e82911f", "evidence": "Calculation of ROI (Return on Investment) for R&D and M&A spend.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:04.352+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 67, "frameworkName": "analytical-method" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 70, "from": 66, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null }, "matchId": "3e7f589c-1016-46fa-a786-ecdd6d3310b8", "evidence": "The document proposes a breakdown of Pfizer's R&D investments and suggests that the company needs to achieve higher revenue growth based on its R&D and M&A investments.", "position": 2, "objective": "How can Pfizer improve its return on R&D investments?", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:45:15.764241+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 68, "type": "analysis", "title": "The slide uses a waterfall chart to critique capital allocation efficiency.", "function": "analyze_data", "rawType": "revenue_buildup", "block": null, "metadata": { "slideType": "revenue_buildup", "slideTypeCanon": { "name": "Revenue buildup", "slug": "revenue_buildup", "status": "active", "canonId": "019de52d-0acd-70b8-a81d-62d89840409b", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 30, "componentCount": 5, "textChars": 455, "nDataPoints": 6, "notes": "The slide uses a waterfall chart to critique capital allocation efficiency.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:04.693+00", "seconds": 3.179, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/68", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-68", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.3, "x": 0.65, "y": 0.5 }, "kind": "callout", "text": "We need management focused on achieving at least 38% revenue growth return and the Board focused on accountability and raising expectations", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.693+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1c72d264-47ae-4c8e-9e17-aef9b84c39de", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.45, "x": 0.08, "y": 0.25 }, "kind": "chart", "text": "Pfizer Sales Bridge (Ex. COVID): 2023 to 2030", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Waterfall bridge / value bridge", "slug": "waterfall-bridge", "status": "active", "canonId": "019de52d-0055-7469-ba67-a7f7a327dec1", "version": 1, "description": null }, "framework": null }, "subkind": "waterfall-bridge", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.693+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f8fcedb7-863b-41ca-be0a-dc96892bac5c", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.01, "y": 0.97 }, "kind": "disclaimer", "text": "Source: Public company filings, Wall Street Research, Visible Alpha, and Starboard estimates.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.693+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "384a5449-8479-4154-b6ce-da29c27c19c2", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.25, "x": 0.65, "y": 0.35 }, "kind": "table", "text": "Gross Revenue Growth $19 billion; R&D and M&A $128 billion; Revenue Return 15%", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.693+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "22696c7b-3a91-4f18-9e11-5fd4e2e558e9", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.94, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "Adjusting For LOEs, Pfizer Is Currently Expected to Grow by $19 Billion of Revenue From 2023 to 2030", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.693+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6d6667ae-1058-4fbb-b20d-ad5ba3eb5331", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "bd4a767d-6ba1-46f1-aef1-248e5d71a6ab", "evidence": "Visual representation of revenue growth components", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:54:04.693+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 68, "frameworkName": "waterfall-bridge" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 70, "from": 66, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null }, "matchId": "3e7f589c-1016-46fa-a786-ecdd6d3310b8", "evidence": "The document proposes a breakdown of Pfizer's R&D investments and suggests that the company needs to achieve higher revenue growth based on its R&D and M&A investments.", "position": 2, "objective": "How can Pfizer improve its return on R&D investments?", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:45:15.764241+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 69, "type": "setup", "title": "Uses a 'bridge' style calculation to derive an incremental revenue requirement.", "function": "quantify_opportunity", "rawType": "revenue_buildup", "block": null, "metadata": { "slideType": "revenue_buildup", "slideTypeCanon": { "name": "Revenue buildup", "slug": "revenue_buildup", "status": "active", "canonId": "019de52d-0acd-70b8-a81d-62d89840409b", "version": 1, "description": null }, "function": "quantify_opportunity", "functionCanon": { "name": "Quantify opportunity", "slug": "quantify_opportunity", "status": "active", "canonId": "019de52d-17e4-726f-aa15-83350acef1dd", "version": 1, "description": null }, "density": "sparse", "densityScore": 21, "componentCount": 4, "textChars": 315, "nDataPoints": 5, "notes": "Uses a 'bridge' style calculation to derive an incremental revenue requirement.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:04.249+00", "seconds": 2.605, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/69", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-69", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.94, "x": 0.03, "y": 0.9 }, "kind": "callout", "text": "The Company needs to achieve higher revenue growth based on its R&D and M&A investments.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.249+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6d7d1e6e-f026-4da5-8892-0c82448582a8", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.01, "y": 0.98 }, "kind": "source-note", "text": "Source: Public company filings and Starboard estimates.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.249+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9eb9fd9a-252f-499d-a1e5-98238d4dc90d", "parentComponentId": null }, { "bbox": { "h": 0.55, "w": 0.94, "x": 0.03, "y": 0.185 }, "kind": "table", "text": "Incremental Revenue Growth Required (Ex. COVID) calculation table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.249+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b0d94328-31b9-42d3-bf03-f559e6106963", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.94, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "If the Company Is Going to Continue Its R&D Investment Rate, It Needs to Generate Considerably More Revenue", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.249+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "47b991cb-f923-402a-a754-dca9e94b2f21", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Waterfall chart", "slug": "waterfall-chart", "status": "active", "bestFor": null, "canonId": "e2799da3-725f-44a9-a093-570f1f388e64", "version": 1, "bodyDocId": null, "description": null, "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "d307b259-a2eb-4bdc-b653-c288919c4a8a", "evidence": "chart/waterfall-bridge: Pfizer Sales Bridge (Ex. COVID): 2023 to 2030", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-17 00:48:27.231874+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 69, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "e83a1919-1cff-424f-8aed-c11207307f09", "evidence": "The slide uses a mathematical sequence of additions and subtractions to arrive at a required incremental growth figure.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:54:04.249+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 69, "frameworkName": "revenue-buildup" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 70, "from": 66, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null }, "matchId": "3e7f589c-1016-46fa-a786-ecdd6d3310b8", "evidence": "The document proposes a breakdown of Pfizer's R&D investments and suggests that the company needs to achieve higher revenue growth based on its R&D and M&A investments.", "position": 2, "objective": "How can Pfizer improve its return on R&D investments?", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:45:15.764241+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 70, "type": "setup", "title": "The chart uses a standard waterfall bridge format to show the impact of LOEs and growth on 2030 revenue projections.", "function": "show_valuation_bridge", "rawType": "revenue_buildup", "block": null, "metadata": { "slideType": "revenue_buildup", "slideTypeCanon": { "name": "Revenue buildup", "slug": "revenue_buildup", "status": "active", "canonId": "019de52d-0acd-70b8-a81d-62d89840409b", "version": 1, "description": null }, "function": "show_valuation_bridge", "functionCanon": { "name": "Show valuation bridge", "slug": "show_valuation_bridge", "status": "active", "canonId": "019de52d-1883-716e-9dec-4981e70b840a", "version": 1, "description": null }, "density": "sparse", "densityScore": 20, "componentCount": 4, "textChars": 283, "nDataPoints": 5, "notes": "The chart uses a standard waterfall bridge format to show the impact of LOEs and growth on 2030 revenue projections.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:06.829+00", "seconds": 5.134, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/70", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-70", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.7, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "chart", "text": "Pfizer Sales Bridge (Ex. COVID): 2023 to 2030", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Waterfall bridge / value bridge", "slug": "waterfall-bridge", "status": "active", "canonId": "019de52d-0055-7469-ba67-a7f7a327dec1", "version": 1, "description": null }, "framework": null }, "subkind": "waterfall-bridge", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.829+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "92c8efbc-f2ca-4e53-8d08-e40a7b82ae71", "parentComponentId": null }, { "bbox": null, "kind": "framework", "text": "Pfizer Sales Bridge (Ex. COVID): 2023 to 2030", "attrs": null, "canon": { "kind": { "name": "Framework", "slug": "framework", "status": "active", "canonId": "019de52c-fa18-77c6-b10a-ccb8277ac0fa", "version": 1, "description": "Named conceptual framework instance." }, "tool": null, "subkind": { "name": "Framework instance", "slug": "instance", "status": "active", "canonId": "019de52d-05a2-72af-be0b-7edc60708a03", "version": 1, "description": null }, "framework": null }, "subkind": "instance", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.829+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "74e0b0d8-ed92-481b-ad34-33c78bc26c2e", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.02, "y": 0.95 }, "kind": "source-note", "text": "Source: Public company filings, Wall Street Research, and Starboard estimates.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.829+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0ae93f2e-81dd-42bf-b4e8-c7d40dfcf57e", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Specifically, the Company Would Have to Generate $79 Billion in 2030 Revenue to Achieve Peer Median Revenue Returns", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.829+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "84a5b4e6-310f-41d9-94f9-c532e3a6058c", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Waterfall chart", "slug": "waterfall-chart", "status": "active", "bestFor": null, "canonId": "e2799da3-725f-44a9-a093-570f1f388e64", "version": 1, "bodyDocId": null, "description": null, "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "c607a8a8-2756-4f70-98ae-b2086f384359", "evidence": "chart/waterfall-bridge: Pfizer Sales Bridge (Ex. COVID): 2023 to 2030", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-17 00:48:27.313719+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 70, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "8c81d915-6ad6-46af-a58d-7e1e87ddad12", "evidence": "The slide uses a standard waterfall chart to bridge 2023 revenue to 2030 pro forma revenue.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 10:54:06.829+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 70, "frameworkName": "waterfall-bridge" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 70, "from": 66, "loop": { "name": "40_mece_breakdown", "slug": "40-mece-breakdown", "status": "active", "bestFor": "Problem structuring, ensuring completeness, strategic analysis", "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage", "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories", "familyLabel": null }, "matchId": "3e7f589c-1016-46fa-a786-ecdd6d3310b8", "evidence": "The document proposes a breakdown of Pfizer's R&D investments and suggests that the company needs to achieve higher revenue growth based on its R&D and M&A investments.", "position": 2, "objective": "How can Pfizer improve its return on R&D investments?", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:45:15.764241+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 71, "type": "setup", "title": "Uses a simple causal chain diagram to link the target return to financial outcomes.", "function": "propose_solution", "rawType": "propose_solution", "block": null, "metadata": { "slideType": "propose_solution", "slideTypeCanon": { "name": "Propose solution (contrarian)", "slug": "propose_solution", "status": "active", "canonId": "019de52d-1274-703c-81c6-5550f451697b", "version": 1, "description": null }, "function": "propose_solution", "functionCanon": { "name": "Propose solution (contrarian)", "slug": "propose_solution", "status": "active", "canonId": "019de52d-185b-74e9-bdfd-ea8cf318563f", "version": 1, "description": null }, "density": "dense", "densityScore": 50, "componentCount": 5, "textChars": 1300, "nDataPoints": 4, "notes": "Uses a simple causal chain diagram to link the target return to financial outcomes.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:06.773+00", "seconds": 4.98, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/71", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-71", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.06, "w": 1, "x": 0, "y": 0.89 }, "kind": "callout", "text": "The Board needs to hold management accountable for improving performance.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.773+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4ebc3a78-1149-40ec-aad2-cab592a5a6d9", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.63, "x": 0.185, "y": 0.695 }, "kind": "diagram", "text": "Achieving at least 38% expected 2030 revenue return... Would result in 2030 Sales of $79bn and Adj. EPS of >$4.25", "attrs": null, "canon": { "kind": { "name": "Diagram", "slug": "diagram", "status": "active", "canonId": "019de52c-f9f0-734a-81de-15382ff28c65", "version": 1, "description": "Schematic or relational diagram." }, "tool": null, "subkind": { "name": "Process flow", "slug": "process", "status": "active", "canonId": "019de52d-039c-718f-ad3a-efe9c4b3c838", "version": 1, "description": null }, "framework": null }, "subkind": "process", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.773+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c4ae0f81-9e77-4d4a-82e9-b661ed7dbf89", "parentComponentId": null }, { "bbox": { "h": 0.55, "w": 0.92, "x": 0.04, "y": 0.16 }, "kind": "list", "text": "We agree with management: “the operational measurement of success will be [Pfizer’s] ability to have a constant flow of breakthrough innovation”\nUnderlying Pfizer’s ability to produce consistent innovation is its ability to generate attractive revenue returns on its R&D and M&A investments\nManagement is allocating a substantial amount of shareholder capital\nTo-date, the Company has not achieved sufficient revenue returns on R&D and M&A\nThe Company is expected to generate revenue returns of just 15% compared to the peer median of 38%\nPfizer ranks worst-in-class among its peer group on expected gross revenue growth from 2023 to 2030 based on its cumulative R&D and M&A from 2019 to 2023\nCapital allocation and M&A is critically important to pharma companies – Pfizer has been worst-in-class\nThe Board is responsible for holding management accountable on improving its expected revenue return to at least 38%", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.773+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8c322098-3f58-4b96-a63b-7778f74c4702", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.35, "x": 0.01, "y": 0.97 }, "kind": "source-note", "text": "Source: Public company filings, Wall Street Research, and Starboard estimates. (1) Excluding COVID.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.773+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "171a1538-40c0-44cc-81d9-c906e6bfa7de", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.04 }, "kind": "title", "text": "The Board Needs to Hold Management Accountable For Achieving Sufficient Revenue Returns on R&D and M&A", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:06.773+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f8e25194-b3c4-410a-a86f-c88827a8ea6a", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "4e5e0fff-6434-4435-86f2-24e407ef83ce", "evidence": "The diagram at the bottom links the target return to the financial outcome.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:06.773+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 71, "frameworkName": "causal-chain" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 72, "type": "setup", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "sparse", "densityScore": 21, "componentCount": 4, "textChars": 409, "nDataPoints": 1, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:05.551+00", "seconds": 3.499, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/72", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-72", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.45 }, "kind": "paragraph", "text": "We believe the Board needs to actively hold management accountable for earning appropriate returns on R&D and M&A moving forward.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:05.551+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "12eb6880-e97f-4c14-89f0-720f4844cbd9", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.65 }, "kind": "paragraph", "text": "Pfizer deserves to be best in class.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:05.551+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "613592ac-2f58-4af5-91f3-faa159edd86a", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.9, "x": 0.05, "y": 0.2 }, "kind": "paragraph", "text": "We believe it is unlikely that Pfizer will be able to achieve $79 billion in revenue by 2030 thereby making Pfizer’s return on R&D and M&A insufficient.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:05.551+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "df2a7abd-5989-47fe-ac00-f379f4a6013c", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "The Board Needs to Hold Management Accountable to Achieve the Appropriate Returns on Capital", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:05.551+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "099065aa-1bb1-4c27-9a7c-ed569a98d3ec", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "78555a96-3f3d-4c85-a8b9-3faec263d515", "evidence": "Focus on holding management accountable for R&D and M&A returns.", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 10:54:05.551+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 72, "frameworkName": "capital-allocation-framework" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 73, "type": "setup", "title": "The chart includes a specific callout for 'PFE (Median R&D Efficiency)' at the end, suggesting a comparison of valuation vs. efficiency.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 6, "textChars": 520, "nDataPoints": 15, "notes": "The chart includes a specific callout for 'PFE (Median R&D Efficiency)' at the end, suggesting a comparison of valuation vs. efficiency.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:04.845+00", "seconds": 2.781, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/73", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-73", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.04, "w": 0.92, "x": 0.04, "y": 0.89 }, "kind": "callout", "text": "We are excited to own the business at current valuation multiples as we believe there is substantial upside.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.845+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d977428c-c849-40cc-b8de-ae022fb17f24", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.92, "x": 0.04, "y": 0.22 }, "kind": "chart", "text": "P / CY25 EPS", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.845+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e4791c37-df41-4dee-9a52-8a0105a85c96", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.1, "x": 0.76, "y": 0.49 }, "kind": "legend", "text": "Peer Median: 14x", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.845+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3f1a0e21-9b18-4495-8fe6-89038cb652b0", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.92, "x": 0.04, "y": 0.13 }, "kind": "paragraph", "text": "We believe concerns regarding the Company's innovation track record, pipeline, capital allocation, and lost credibility has resulted in a depressed valuation multiple.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.845+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "70fa622a-cc3f-4b6b-891c-b4c6dc1f5133", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.92, "x": 0.04, "y": 0.94 }, "kind": "source-note", "text": "Source: Bloomberg and CapIQ. Starboard has identified BMY, AZN, JNJ, NOVN, ROG, MRK, SAN, GILD, ABBV, AMGN, LLY, NVO, and GSK as the relevant peer set for comparing PFE.", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.845+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2ee050b8-e690-43b3-8a02-646998249d8a", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.04, "y": 0.05 }, "kind": "title", "text": "We Believe There Is Substantial Upside at Pfizer", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:04.845+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d242a835-f28c-48b3-9f56-cf713988d1c7", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Slide recipe: the peer-gap chart", "slug": "peer-gap-chart-recipe", "status": "active", "bestFor": null, "canonId": "019df269-2b04-75bc-ad85-e0179264bdd7", "version": 1, "bodyDocId": "019df269-2ae1-771d-9cd1-193a2e25f21c", "description": "The single most-copied slide in activism. This is the exact layout, used", "familyLabel": "slide-recipe", "categoryName": "Slide", "categorySlug": "slide" }, "agent": "designer", "layer": "slide", "agents": [ "designer" ], "matchId": "2592a33d-a4bc-4e06-b669-318717714c4c", "evidence": "chart/bar-vertical: P / CY25 EPS", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-17 00:48:27.476148+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 73, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [ { "matchId": "124accad-b0c4-4b3f-aebb-7a4a6411b237", "evidence": "Peer valuation benchmarking", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 10:54:04.845+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 73, "frameworkName": "comparison_frame" } ], "arcBeats": [ { "to": 73, "arc": { "name": "Problem-Agitate-Solution", "slug": "problem-agitate-solution", "status": "active", "bestFor": "Sales pitches, urgency-driven, competitive displacement", "canonId": "019dd956-5ec6-70f9-9fd8-fdbaaff39acf", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem (Identify pain) -> Agitate (Make it worse) -> Solution (Provide relief)", "description": null, "familyLabel": null }, "from": 61, "name": "Solution (Provide relief)", "beatId": "09329c98-b3dc-4181-a1f0-2064b6b5f307", "matchId": "65a8d88c-d7b4-4f7c-bcd2-5463554d1089", "beatType": { "name": "Solution (Provide relief)", "slug": "problem-agitate-solution-solution-provide-relief", "status": "active", "canonId": "019dd9b8-0fee-73e9-9ae5-799c7f3895cd", "version": 1, "description": null }, "evidence": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 74, "type": "setup", "function": "front_matter", "rawType": "cover", "block": null, "metadata": { "slideType": "cover", "slideTypeCanon": { "name": "Cover", "slug": "cover", "status": "active", "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 0, "componentCount": 1, "textChars": 15, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 10:54:05.028+00", "seconds": 2.86, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de077-4c75-7299-85f2-8570aa012761/74", "deck": "/decks/019de077-4c75-7299-85f2-8570aa012761", "deckAnchor": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-74", "deckJson": "/decks/019de077-4c75-7299-85f2-8570aa012761.json" }, "components": [ { "bbox": { "h": 0.52, "w": 0.52, "x": 0.24, "y": 0.24 }, "kind": "image", "text": "STARBOARD VALUE", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 10:54:05.028+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b635d3bb-2768-4dbf-97c7-6f996bf9018d", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Slide recipe: Cover", "slug": "cover-slide", "status": "active", "bestFor": null, "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3", "version": 1, "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65", "description": "The first ten seconds. Build it deliberately.", "familyLabel": "slide-recipe", "categoryName": "Slide", "categorySlug": "slide" }, "agent": "designer", "layer": "slide", "agents": [ "designer" ], "matchId": "d38ed817-555e-4c3d-9129-7d0107b71730", "evidence": "image/logo: STARBOARD VALUE", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:48:27.559267+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 74, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true } ], "arcBeats": [ { "from": 10, "to": 10, "label": "Problem (Identify pain)", "description": "The document identifies Pfizer's market value decline as the problem." }, { "from": 11, "to": 30, "label": "Agitate (Make it worse)", "description": "The document agitates the problem by highlighting Pfizer's lack of internal innovation, failed products, and poor capital allocation." }, { "from": 61, "to": 73, "label": "Solution (Provide relief)", "description": "The document proposes a solution by suggesting that the Board needs to hold management accountable for improving performance and achieving higher revenue growth." } ], "loops": [ { "from": 12, "to": 20, "label": "Iceberg", "description": "What are the reasons behind Pfizer's lack of internal innovation?" }, { "from": 42, "to": 50, "label": "Cost Of Inaction", "description": "What are the consequences of Pfizer's poor capital allocation?" }, { "from": 66, "to": 70, "label": "Mece Breakdown", "description": "How can Pfizer improve its return on R&D investments?" } ] }