{
  "docId": "019de075-36db-7707-8915-892fe9583948",
  "docSlug": "e088071a33718c771716613bab08cb28",
  "documentTitle": "Sarissa Capital | Activist Presentation Deck | 95 slides",
  "authorId": "sarissa-capital",
  "authorName": "Sarissa Capital",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2023-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 51,
  "pageCount": 95,
  "prevPage": 50,
  "nextPage": 52,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "Uses callout boxes to highlight the contradiction between two public statements.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de075-36db-7707-8915-892fe9583948/51",
  "deckHref": "/decks/019de075-36db-7707-8915-892fe9583948",
  "deckJsonHref": "/decks/019de075-36db-7707-8915-892fe9583948.json",
  "deckAnchorHref": "/decks/019de075-36db-7707-8915-892fe9583948#slide-51",
  "components": [
    {
      "bbox": {
        "h": 0.15,
        "w": 0.3,
        "x": 0.58,
        "y": 0.75
      },
      "kind": "callout",
      "text": "November 2021 (six months later) – Pops attributes delay in launch to Covid",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "28f44707-6186-4b18-8f96-b002cbe0b9ab",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.3,
        "x": 0.07,
        "y": 0.675
      },
      "kind": "callout",
      "text": "June 2021 – Pops attributes delay in Lybalvi launch to manufacturing issues",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e85be9ff-2d31-423a-8d9d-f75c35ec9295",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.4,
        "x": 0.07,
        "y": 0.38
      },
      "kind": "paragraph",
      "text": "Richard Pops on 1Q21 earnings call (June 2021)\nVamil, It's Rich. I'll take the first, and then I'll ask Blair and Todd, if they want to chime in on the second. The first is we're launching in Q4, primarily because we're going to complete the commercial manufacturing for the various dosage strengths.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2672cf8d-2b1a-4769-a543-851e7e4bf16f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.4,
        "x": 0.52,
        "y": 0.23
      },
      "kind": "paragraph",
      "text": "J.P. Morgan Conference (November 2021)\nOkay. And then, I think every company that's launching a drug in this environment probably is asked this question, but how much of an impact do you expect COVID-related headwinds to be? ... Well, I guess as I think about it, we made the decision not to launch until the fall for a lot of those reasons.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4229b8c3-cb91-4ae8-9e2e-1b4666a139f5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.4,
        "x": 0.07,
        "y": 0.23
      },
      "kind": "paragraph",
      "text": "Lybalvi receives a complete response letter from FDA due to manufacturing concerns (November 2020)\nLybalvi finally approved in 6/2021",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f96b9382-9972-4e1a-9147-dceab2f6f8e8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.35,
        "x": 0.07,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Alkermes conference call (6/1/21) and JPM conference call series (11/19/21)",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6edaed65-d14f-42d4-a1a6-07320fc17438",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.07,
        "y": 0.08
      },
      "kind": "title",
      "text": "Pops appears to offer alternative narratives",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a680420c-7a39-426d-9968-0914a3f9db4c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "expose_contradiction",
      "slug": null,
      "matchId": "db511444-573b-4a57-8352-9312642bfbc1",
      "evidence": "Contrasting two statements to highlight inconsistency",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 77,
      "from": 4,
      "beatId": "a83e7dc1-821d-4dd1-9d31-0dc7f5e2a605",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "The document repeatedly exposes contradictions in Alkermes' strategies and performance",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "to": 76,
      "from": 20,
      "beatId": "e138ce19-87e9-4f77-98f8-9b0d2dd59e9c",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Villain Critique",
      "beatSlug": null,
      "evidence": "The document critiques Alkermes' management and board, particularly CEO Pops",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 60,
      "from": 48,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "1e512f1a-100d-4df0-aa13-d0cb7ab19cde",
      "evidence": "The document emphasizes the consequences of not taking action to change Alkermes' board and model",
      "position": 2,
      "objective": "To highlight the cost of inaction for shareholders",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}