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  "documentTitle": "E.I. du Pont de Nemours and Company (DuPont) (DD)",
  "authorId": "06_Trian_Partners",
  "authorName": "Trian Partners",
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  "presentationDate": "2015-04-13 00:00:00",
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  "notes": "This is an activist investor presentation slide (Trian Partners vs. DuPont) using a before-after style logic to highlight R&D inefficiency.",
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      "text": "Substantial Agriculture R&D Has Yielded Negative Results",
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      "text": "~$5bn(5) in Agriculture R&D over last 5 years",
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      "text": "No new biotech traits, of significance, discovered\n$1bn jury verdict against DuPont for patent infringement\n$1.2bn in charges relating to Imprelis, despite estimated sales of only ~$7m(3)\nPaying competitors for science capabilities",
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      "text": "R&D spend: $5bn",
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      "kind": "source-note",
      "text": "Source: SEC filings. (1) Monsanto press release 8/1/12. (2) DuPont press release 3/26/2013. (3) Free Press, \"EPA: DuPont failed to warn of popular herbicide's danger to trees\". Charges taken by DuPont related to customer claims of damage (4) Pioneer press release, 12/14/2010. (5) 2010-2014 based on Company Data Book and 2014 Form 10-K.",
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