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  "docSlug": "42b17c6fff3e2006bf9fc5d84bd6edcc",
  "documentTitle": "Pershing Square | Activist Presentation Deck | 120 slides",
  "authorId": "pershing-square",
  "authorName": "Pershing Square Capital Management, L.P.",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-07-01 00:00:00",
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  "density": "balanced",
  "nDataPoints": 3,
  "notes": "The slide uses a categorization framework to expose the company's reliance on price hikes rather than volume growth.",
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      "kind": "callout",
      "text": "Allergan has relied on large price increases to drive revenue growth, both historically and in 2014",
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      "kind": "list",
      "text": "7-9% Price Increases in 2014: Acuvail, Elestat, Lastacraft, Betagan, Zymaxid",
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      "text": "100%+ Price Increases in 2014: Pred-G, Pred Miled, FML Forte, Bleph-10",
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      "text": "10%+ Price Increases in 2014: Alphagan, Combigan, Lumigan, Restasis, Aczone, Tazorac, Avage, Azalex",
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      "kind": "source-note",
      "text": "Source: Wolters Kluwer: Medi-Span Price Rx and Valeant management estimates.",
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      "kind": "title",
      "text": "Pricing has Driven Growth",
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      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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