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  "documentTitle": "Bristol-Myers Squibb Company (BMY)",
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  "presentationDate": "2019-03-18 00:00:00",
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      "text": "Shareholders must be absolutely certain before allowing management to take all other options off the table",
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      "text": "Select Blockbuster Drugs – % Revenue Contribution Prior to Loss-of-Exclusivity",
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      "text": "Largest Global Pharmaceutical Companies – Market Capitalization",
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      "text": "Market Capitalization: $343",
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      "text": "A combined Bristol-Myers / Celgene would effectively become too large to acquire, with the added complication of having one of the largest patent cliffs in pharmaceutical history.",
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      "text": "Source: Public company filings, CapitalIQ. (1) Market capitalization as of January 2, 2019. (2) % of total revenues for SINGULAIR, LIPITOR, CRESTOR, CYMBALTA, PLAVIX, and REVLIMID as of 2011, 2010, 2015, 2013, 2011, and 2018, respectively.",
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      "text": "Buying Celgene Would Effectively Serve as a Poison Pill Against Potential Strategic Interest",
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