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  "documentTitle": "Alexion Pharmaceuticals, Inc. (ALXN)",
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  "authorName": "Elliott",
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  "presentationDate": "2020-05-12 00:00:00",
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  "notes": "The slide uses a scatter plot to demonstrate that Alexion is undervalued compared to its peers with similar growth profiles.",
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      "text": "ALXN trades at a ~50% discount to pharma players with the same growth rate",
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      "text": "Scatter plot showing EV/EBITDA vs 5yr Rev CAGR for Large cap pharma and Large cap biotech, with Alexion Consensus and Management Ambition points.",
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      "text": "The Company benefits from a highly attractive financial profile... Alexion is expected to underperform its five-year consensus revenue CAGR by over 8%, in our view a highly unlikely scenario:",
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      "kind": "paragraph",
      "text": "Strong payor value proposition: Ultomiris offers meaningfully lower cost for payors... A highly profitable and cash-generative business...",
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