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  "documentTitle": "Allergan, Inc. (AGN)",
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  "authorName": "William Ackman",
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      "text": "Several large portfolios of durable OTC products have been sold in the last ten years",
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      "text": "Forward Net Income Multiple: 23x",
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      "text": "Source: Capital IQ and Wall Street research. Net Income multiples represent multiples of tax-effected EBIT excluding synergies. (1) Multiples adjusted downward for a hypothetical 25% control premium.",
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