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  "documentTitle": "Pershing Square | Activist Presentation Deck | 39 slides",
  "authorId": "pershing-square",
  "authorName": "Pershing Square Capital Management, L.P.",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-09-01 00:00:00",
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  "pageNumber": 11,
  "pageCount": 39,
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  "nDataPoints": 2,
  "notes": "This slide is part of an activist investor presentation (likely Pershing Square) critiquing Valeant's business model.",
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      "kind": "list",
      "text": "Important facts about Valeant’s specialty pharmacy strategy:",
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      "text": "Valeant’s specialty pharmacy strategy originated from a program acquired with the acquisition of Medicis, a dermatology company",
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      "text": "Valeant’s drugs are available at both retail pharmacies and through Philidor\nPhilidor offers low “cash-pay” prices on drugs to patients without insurance coverage\nGovernment-insured patients are not eligible for co-pay assistance\nPhilidor represented only ~1% of Valeant sales last year, but grew to ~7% of total revenue in the most recent quarter",
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      "text": "Today Valeant makes certain products available through the specialty pharmacy channel – Philidor Rx has been Valeant’s largest specialty pharmacy",
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      "kind": "title",
      "text": "Valeant’s Use of Specialty Pharmacies",
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      "arcName": "Overcoming the Monster",
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