{
  "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": 72,
  "pageCount": 95,
  "prevPage": 71,
  "nextPage": 73,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "sparse",
  "nDataPoints": 0,
  "notes": "The slide uses a 'VS' comparison frame to highlight conflicting accounts of the same date (March 2, 2022).",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de075-36db-7707-8915-892fe9583948/72",
  "deckHref": "/decks/019de075-36db-7707-8915-892fe9583948",
  "deckJsonHref": "/decks/019de075-36db-7707-8915-892fe9583948.json",
  "deckAnchorHref": "/decks/019de075-36db-7707-8915-892fe9583948#slide-72",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.52,
        "y": 0.6
      },
      "kind": "callout",
      "text": "Sarissa believed that Alkermes should have acted swiftly and aggressively on frivolous claims by JNJ. Why try to delay arbitration and introduce extra costs, delayed revenue, and volatility to the stock?",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b57d07f5-6335-472a-91cf-54353fcf89a7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.05,
        "y": 0.88
      },
      "kind": "source-note",
      "text": "ii Calculated as earnings before interest, taxation, depreciation, amortization and one-time items, includes share-based compensation expenses.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aa4d9af7-49b4-4b7c-ab52-1cab1be541d6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.9,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "table",
      "text": "Alkermes 2022 Proxy Statement vs Alkermes 2023 Proxy Statement",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "49a8925d-f748-4cf2-97c0-4a168538a6b6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "After success in its arbitration against JNJ, Alkermes board hid that Sarissa urged the company to enter arbitration sooner and not delay the receipt of funds",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "95393cfd-1732-45cc-954e-feb5d33977dc",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "fb0f605a-dbf1-41c9-bbda-adfde82bae52",
      "evidence": "Side-by-side comparison of two proxy statements to expose a contradiction.",
      "confidence": 0.9
    }
  ],
  "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": 75,
      "from": 70,
      "name": "Mece Breakdown",
      "slug": "40-mece-breakdown",
      "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
      "matchId": "9acbda0c-b1b5-4b0b-bf12-f5f866e4b7cd",
      "evidence": "The document provides a MECE (mutually exclusive, collectively exhaustive) breakdown of the issues with Alkermes",
      "position": 3,
      "objective": "To break down the issues with Alkermes' governance and operations",
      "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
      "confidence": 0.6,
      "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}