Pershing Square Activist Presentation Deck
Large Universe of Public and Private Targets
Large universe of public targets for Val-gan with a market cap of
at least $10 billion
► 58 pharmaceutical and medical device companies with a
combined market cap of $3.2 trillion
Rank Company Name
37
UCB SA
38
Perrigo Company plc
39
Agilent Technologies Inc.
40
Boston Scientific Corporation
41
Illumina Inc.
42
Mylan, Inc.
St. Jude Medical Inc.
Coloplast A/S
Grifols, S.A.
Intuitive Surgical, Inc.
Zimmer Holdings, Inc.
43
44
45
46
47
Market Cap
($bn)
Rank
$20.5
48
19.4
49
18.2
50
18.2
51
52
18.1
18.0 53
17.8
54
16.3
55
15.9
56
15.8 57
58
15.5
Company Name
Vertex Pharmaceuticals Inc.
Otsuka Holdings Co., Ltd.
Zoetis Inc.
Chugai Pharmaceutical Co. Ltd.
Smith & Nephew plc
Aspen Pharmacare Holdings
Daiichi Sankyo Company, Limited
Eisai Co., Ltd.
CR Bard Inc.
Actelion Ltd.
Olympus Corporation
Market Cap
($bn)
In addition, we estimate that there are ~$3 trillion of privately
owned targets in the pharmaceutical and medical device
industry¹
"We estimate that total pharmaceutical and medical device industry sales are approximately $2tn. Valued at 3x sales, the total industry value is $6tn.
Market caps are as of 4/21/2014 per Capital IQ.
95
$15.5
15.4
14.5
13.4
13.0
12.1
11.9
10.9
10.9
10.8
10.0View entire presentation