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  "documentTitle": "Sarissa Capital | Activist Presentation Deck | 95 slides",
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  "authorName": "Sarissa Capital",
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  "presentationDate": "2023-06-01 00:00:00",
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  "notes": "The slide argues that royalty revenue is essentially pure profit, contrasting it with the company's overall spending.",
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      "kind": "chart",
      "text": "Royalties as % of Total Revenue",
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      "text": "Royalties in 2022 negatively impacted by dispute with JNJ. Source: Alkermes corporate filings",
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      "kind": "title",
      "text": "What makes Alkermes' spending so remarkable -> for roughly 1/3rd of its revenue (royalties), expenses are de minimis",
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      "evidence": "The document critiques Alkermes' management and board, particularly CEO Pops",
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