{
  "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",
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  "pageNumber": 23,
  "pageCount": 197,
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  "slideType": "problem_statement",
  "function": "diagnose_problem",
  "density": "dense",
  "nDataPoints": 4,
  "notes": "The slide uses a table to detail specific clinical and commercial risks for five products, followed by a callout regarding unidentified earlier-stage products.",
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      "kind": "callout",
      "text": "Earlier-Stage Pipeline Products: In addition, Bristol-Myers management seems to be expecting five unidentified products to each generate average revenues of $1.4 billion",
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      "kind": "callout",
      "text": "On average, Bristol-Myers is assuming each Celgene pipeline product launched will be a blockbuster",
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      "kind": "paragraph",
      "text": "Below, we provide an overview of the key risks related to the five near-term product launch opportunities in Celgene's pipeline that Bristol-Myers has highlighted to shareholders, and is expecting to generate $10 billion in revenue by 2028.",
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      "kind": "source-note",
      "text": "Source: Public company filings, news reports, press releases, industry research and interviews, Starboard estimates.",
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      "kind": "table",
      "text": "Table of 5 products (fedratinib, ozanimod, liso-cel, bb2121, luspatercept) with development phase and key risks.",
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      "kind": "title",
      "text": "On average, Bristol-Myers is assuming each Celgene pipeline product launched will be a blockbuster",
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      "kind": "title",
      "text": "We Believe Celgene's Pipeline Has Massive Risk",
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      "name": "Aha Moment",
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      "evidence": "The document reveals concerns about Celgene's pipeline and its ability to meet Bristol-Myers' expectations.",
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