{
  "docId": "019dd923-622b-71dc-a6da-7792191b0575",
  "docSlug": "ca94acfa263b",
  "documentTitle": "Pfizer Inc. (PFE)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 64,
  "pageCount": 74,
  "prevPage": 63,
  "nextPage": 65,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 15,
  "notes": "The slide uses a competitor's own internal slide as evidence of failure, specifically pointing to discontinued programs (Staphylococcus Aureus, Domagrozumab).",
  "elementsJson": [
    "headline_text",
    "screenshot",
    "data_table",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-7792191b0575/64",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-7792191b0575",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-7792191b0575.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-7792191b0575#slide-64",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "We do not believe Pfizer achieved “constant” and “breakthrough” innovations.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-2b66-7100-896b-bbceba746043",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.75,
        "w": 0.64,
        "x": 0.18,
        "y": 0.15
      },
      "kind": "image",
      "text": "Excerpt from Pfizer Q1-2019 Investor Presentation",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1b9e31d7-a0b7-4e6a-963c-297efc9e39e5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "Next Steps for 'Up to 15 in 5' Programs — Pfizer Q1-2019 Investor Presentation",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-2b66-7100-896b-bdc289068c07",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.52,
        "w": 0.6,
        "x": 0.2,
        "y": 0.29
      },
      "kind": "table",
      "text": "Table of 15 programs with therapeutic areas, next steps, and timing.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "335c316c-6ec1-4fe4-9d96-afdfb81b56d3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.92,
        "x": 0.04,
        "y": 0.93
      },
      "kind": "title",
      "text": "We do not believe Pfizer achieved “constant” and “breakthrough” innovations.",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5db6fb45-b944-4c6b-a548-8b222960c719",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.85,
        "x": 0.04,
        "y": 0.03
      },
      "kind": "title",
      "text": "The Company Also Failed to Achieve Constant and Breakthrough Innovation",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7cabd475-6fa8-46cf-a464-602cfe83b003",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "11f5bc43-33e7-4ea2-adbf-9fa8f80be58b",
      "evidence": "Uses company's own data to contradict their stated performance claims.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 74,
      "from": 61,
      "beatId": "2f655379-f0eb-4ab4-834d-dbd332abba28",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The document urges the board to take action to improve Pfizer's performance, including holding management accountable for improving returns on capital.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 73,
      "from": 10,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "54ce6058-bed8-43c5-8780-84fb43f33c5e",
      "evidence": "The document highlights the significant losses in value that Pfizer has experienced due to its poor performance, and urges the board to take action to improve this.",
      "position": 0,
      "objective": "What are the consequences of not improving Pfizer's performance?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    },
    {
      "to": 73,
      "from": 3,
      "name": "Quick Win Big Bet",
      "slug": "47-quick-win-big-bet",
      "bestFor": "Transformation planning, 100-day plans, resource allocation",
      "matchId": "f6f940a6-6451-4a43-940f-82e2afbdbeb8",
      "evidence": "The document presents several potential solutions to improve Pfizer's performance, including improving its return on R&D investments and holding management accountable for improving performance.",
      "position": 1,
      "objective": "Can Pfizer achieve higher returns on capital?",
      "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
      "confidence": 0.6,
      "description": "Separate initiatives into immediate wins and longer-term strategic bets"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}