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  "docId": "019dd923-622c-750b-8b9d-0fffb58e3a0f",
  "docSlug": "9b4a362a0151",
  "documentTitle": "Bristol-Myers Squibb Company (BMY)",
  "authorId": "03_Starboard_Value",
  "authorName": "Jeffrey C. Smith",
  "documentKindSlug": "shareholder-letter",
  "documentKindLabel": "Shareholder letter",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2019-02-28 00:00:00",
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  "pageNumber": 13,
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  "density": "dense",
  "nDataPoints": 3,
  "notes": "Uses a 'CEO Quote vs. Reality' structure to highlight management failure.",
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      "kind": "chart",
      "text": "5-Year Share Price Performance",
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      "kind": "paragraph",
      "text": "Unfortunately, R&D failures continue to plague the Company and have destroyed significant shareholder value in the process. Over the past five years, the Company has underperformed peers and the broader market index by approximately 40%.",
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      "text": "The past year has been particularly painful for Bristol-Myers shareholders, as key clinical trials have failed to show the desired results and the Company’s future growth trajectory has been called into question.",
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      "kind": "quote",
      "text": "I'm also excited by the progress with our diversified pipeline... we are executing very well...",
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      "text": "Finally, our emerging pipeline across all therapeutic areas is one of the most promising in our history...",
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      "kind": "title",
      "text": "Select Management Commentary on R&D Productivity",
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