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  "documentTitle": "Bristol-Myers Squibb Company (BMY)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2019-03-18 00:00:00",
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  "notes": "Uses screenshots of news articles to provide evidence of the company's past poor capital allocation and clinical failure.",
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      "kind": "callout",
      "text": "Sanofi terminated fedratinib in 2013 after 3 years of investment due to concerns with patient safety",
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      "text": "Following a risk-benefit analysis, including consultation with FDA, study investigators, independent expert neurologists, and neuroradiologists, Sanofi determined that the risk to patient safety outweighed the benefit that fedratinib would bring to patients.",
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      "kind": "image",
      "text": "Screenshot of 2013 news article regarding Fedratinib discontinuation",
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      "kind": "image",
      "text": "Screenshot of 2010 news article regarding TargeGen acquisition",
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      "text": "Sanofi had originally acquired fedratinib in a deal valued at $635 million, but following years of development, chose to terminate clinical trials as a result of questionable patient safety.",
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      "text": "Following a risk-benefit analysis, including consultation with FDA, study investigators, independent expert neurologists, and neuroradiologists, Sanofi determined that the risk to patient safety outweighed the benefit that fedratinib would bring to patients. — Sanofi",
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      "text": "Source: PharmaTech.com, FierceBiotech.",
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      "kind": "title",
      "text": "Despite Multiple Years of Investment, Sanofi Previously Terminated Fedratinib Due to Patient Safety Concerns",
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      "evidence": "Frames Sanofi's past management decisions as a failure to protect patient safety and capital.",
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