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  "documentTitle": "Pershing Square | Activist Presentation Deck | 39 slides",
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  "authorName": "Pershing Square Capital Management, L.P.",
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  "presentationDate": "2014-09-01 00:00:00",
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      "kind": "callout",
      "text": "Valeant has built a diversified collection of platforms, including:",
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      "kind": "list",
      "text": "Neurology /Other: 15% of sales(2)\nOlder products, declining to ~10% of revenue in 2016",
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      "text": "US Dermatology Rx: 16% of sales(2)\nOne of the largest Dermatology Rx businesses in the United States\nBenefitting from recent product launches – Jublia, Onexton, RAM .08%, Luzu",
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      "text": "Emerging Markets: 18% of sales(2)\nDurable portfolio of branded generic products",
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      "text": "Gastrointestinal: 19% of sales(2)\nAcquired in April 2015; prescriptions for largest product grew 25% last quarter",
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      "text": "Bausch & Lomb: 21% of sales(1)\nGlobal portfolio of consumer, prescription and surgical products\nOrganic growth 11% 2014, 7% YTD 2015",
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      "text": "(1): Sales percentage from last reported public disclosure in Q2 2015, adjusted for estimated Salix inventory wholesaler reduction and Amoun acquisition. Excludes B&L emerging markets sales.\n(2): Sales percentages calculated from reported Q3 2015 sales and pro-forma estimated Salix inventory wholesaler reduction and Amoun acquisition.",
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      "kind": "title",
      "text": "Valeant's Franchises",
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