{
  "docId": "019dd923-622b-71dc-a6d9-fc4318e06f9b",
  "docSlug": "6ded4b1cfe2c",
  "documentTitle": "Bristol-Myers Squibb Company (BMY)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2019-03-18 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 159,
  "pageCount": 197,
  "prevPage": 158,
  "nextPage": 160,
  "slideType": "ceo_quote",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 1,
  "notes": "This slide is likely used to set up a future contradiction by establishing the company's own bullish narrative.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "quote_block",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6d9-fc4318e06f9b/159",
  "deckHref": "/decks/019dd923-622b-71dc-a6d9-fc4318e06f9b",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6d9-fc4318e06f9b.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6d9-fc4318e06f9b#slide-159",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.88
      },
      "kind": "callout",
      "text": "Bristol-Myers management is adamant that their core franchises are strong",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "645a5e2e-37b2-4322-995e-c25cfb68dfaf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.92,
        "x": 0.04,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "Bristol-Myers management has continued to emphasize to investors that its product franchises are strong.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f37adfa6-fac4-49cd-8911-3e3d50d4b9bf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.13,
        "w": 0.92,
        "x": 0.04,
        "y": 0.42
      },
      "kind": "quote",
      "text": "So first of all, our business as Bristol-Myers Squibb is in a really strong position. We had a very good year in 2018 with respect to commercial execution...we're in a very strong position...As a company, we have always thought about how to think about the future when we are in a position of strength.",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "366c1176-5df7-440b-80cf-903da4f511ae",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.13,
        "w": 0.92,
        "x": 0.04,
        "y": 0.59
      },
      "kind": "quote",
      "text": "We continue see a clear path to growth for Opdivo from here (~$9.5bn peak) driven by a range of indications. Opdivo already holds an established presence in a broad range of tumors... we see a $35bn+ market opportunity for these products.",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6db1234b-73e5-4f6c-b628-f894b1c73b84",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.13,
        "w": 0.92,
        "x": 0.04,
        "y": 0.25
      },
      "kind": "quote",
      "text": "I am very proud of what we have accomplished with Opdivo. It's an important franchise, Opdivo is a foundational medicine. We have been approved in 16 new indications with Opdivo everywhere. I see Opdivo as a growing franchise and we are in a very strong position.",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c7ccc380-9959-4ad0-85cd-9f366decfe03",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.76
      },
      "kind": "quote",
      "text": "But what we are doing in order to generate long-term value for shareholders is a number of things. So first of all, our commercial performance is very, very strong. And we are growing every one of our franchises.",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c81201b3-466b-4c31-90ef-3d89681a40de",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.04,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Source: Public company filings, Wall Street research.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0a305a0e-b035-488e-b9f6-8c4b10a09145",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.92,
        "x": 0.04,
        "y": 0.03
      },
      "kind": "title",
      "text": "We Agree With Bristol-Myers Management's and Wall Street Analysts' Confidence in Its Product Franchises",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7370226b-cf54-4a76-9a83-89d6335b1067",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "6ebf4a0d-3d32-4441-b919-e537b178153a",
      "evidence": "Uses CEO quotes to establish a baseline of confidence that will likely be contradicted in subsequent slides.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}