Pershing Square Activist Presentation Deck slide image

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 10.0
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