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  "documentTitle": "Valeant Pharmaceuticals International (VRX)",
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  "authorName": "William Ackman",
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  "presentationDate": "2015-05-04 00:00:00",
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      "text": "We believe trading comparables outside of traditional healthcare can be useful for valuing Valeant's durable business",
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      "text": "(1): Personal Care: Procter & Gamble, Reckitt Benckiser and Colgate Palmolive. (2): Global Beauty: L'Oreal SA, The Estee Lauder Companies and Beiersdorf AG.",
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      "text": "Industry, Gross Margins, Long Term Organic Growth; Valeant (Durable), >70%, 5% - 7%; Personal Care, 50% - 60%, 4% - 6%; Global Beauty, 60% - 80%, 5% - 7%",
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