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  "documentTitle": "Valeant Pharmaceuticals International (VRX)",
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  "authorName": "William Ackman",
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      "text": "These failures can be distinguished from successful platform models in the following ways: Lacked a competitive advantage in cost structure or strategy; Overpaid for acquisitions to generate growth; Relied on overvalued equity as an acquisition currency; Failed to integrate and achieve cost synergies; Focused on growing reported GAAP earnings rather than economic earnings per share",
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