Chapter 13: Pfizer's Dilemma
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Pfizer headquarters, Brooklyn, New York.
Ian Reid, chairman and CEO of Pfizer, sat at the conference table, frowning and glancing at the top of the room like a prosecutor.
"Gentlemen, is this what you are telling me? Do you think I can tell the board the same thing? Tell the world that as the world's largest pharmaceutical manufacturer, our new products are all garbage?! β
A bunch of rice buckets! Ian Reed wants to drop these guys off the roof, and the company has invested nearly $10 billion in R&D in the past year, but with little effect. Without decent grades, he had a hard time dealing with the interrogation of those guys on the board.
Listen to the names of a large company like Pfizer that doesn't have a fuel-efficient lamp on its board members: former U.S. Deputy Secretary of Health and Human Services Constance Hornard, former Armstrong World Holdings CEO George Lodge, and former Philadelphia Congressman Bill (William) Gray......
Although Pfizer is a huge monster, life is not easy. R&D is undoubtedly one of the core competitiveness of pharmaceutical companies for sustainable growth, but their new drug R&D situation is extremely embarrassing, and the huge investment and the huge risk that the results are completely disproportionate to the huge risk make Ian Reed a headache.
The R&D director and a senior executive had ugly faces, but they were all overwhelmed by Ian's stormy roar, they were already used to the style of this boss, so they could only bear it silently in their hearts, hoping that he would vent his anger soon.
"I repeat, Pfizer is a company that needs to make a profit, but only new products can bring a voice in the market!" Ian's eyes were as sharp as a falcon's. "I hope you don't forget the lessons of last year!"
Last year, Pfizer lost its position as the world's top pharmaceutical company, and was once squeezed into second place by the Swiss pharmaceutical giant Novartis.
The high-level executives in the conference room looked at each other, made eye contact, and silently protested against the R&D director dragging them into the water, but the R&D director also felt very innocent, R&D is inherently risky, this is a helpless thing, no wonder I have to carry this pot?
"Looks like you don't have any good proposals? Then take a look at this. Ian roared for a long time, and his anger subsided a lot, and he motioned to the assistant on the side to send the folder down.
"Is this true?" To be able to reach the top level in such a large company, these managers are naturally not bad, and they can understand the content of the information at once. "The laboratory of a mere university has developed a new drug with far more efficacy than Viagra?! Or even in large-scale clinical trials? β
Could it be that the high-paying researchers in his hands grew up eating poop? Pharmaceutical giants like Pfizer and Novartis invest countless R&D funds every year as if they were thrown into water, and the expressions on the faces of the executives are wonderful.
"Why hasn't we been informed of such an important matter until now? It's time for all of you to reflect on this, and I'm very disappointed in you. Ian's anger was a little bit of a head.
He really wronged these high-level executives, after all, no one would have thought that such a powerful new drug would not appear according to common sense at all, and it would directly skip the research and development stage and be successfully synthesized in only three days.
"If that's true, then we have to get this new drug!" The fact that a better new product was actually made by a university lab did not frustrate Douglas, the president of business development, as for the embarrassment of the R&D personnel, it was none of his business! What he likes is that there seems to be no background of pharmaceutical companies behind this new drug, which means that it is possible to change hands!
"Finally someone who understands." Ian's expression softened a little, and then he said in a more accentuated tone. "I want to get all the news about this new drug, if there is really the effect shown on the information, give me the fastest time at all costs!"
Now that they can get the news, it means that it is only a matter of time before competitors know, and there may even be people who are already silently watching, and when the large-scale clinical trial is over, I am afraid that the new product will fall into the arms of others, which Ian Reed will never allow!
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Wearing a heavy purple master's uniform and a tailor-made master's hat, Li Jie did not have the solemnity of attending the graduation ceremony at all. The sun over the lawn attracted more attention than the dean of the law school who shook his hand with a kind smile in front of him.
The school had already sent an invitation to Mr. Lee's parents, a tradition at American universities, to attend the graduation ceremony, but Mr. Lee had confirmed that they would not come. For Li's father and mother, who are ordinary workers, the huge cost of crossing the ocean is obviously beyond the scope of the economy. Li Jie was also happy not to have to deal with the family of this body so quickly, and did not propose the cost, which is no longer a problem for him.
However, none of this carelessness was shown on his face, and Li Jie, like everyone else, quickly completed the whole procedure, and turned his eyes to the audience and saw Flower at a glance. Although the barrister came to attend his daughter's graduation ceremony, his attention to Li Jie was not weak at all, and when he saw him walk to the stage, his eyes immediately lit up and greeted him.
"Congratulations, Bruce, what was it like to attend the graduation ceremony?" He laughs.
"You know, Flower, I'm too busy to think about that." Li Jie looked around, and the excited students were busy taking a group photo, and pouted in anticipation.
"Oh yes, of course. You have a bigger event, Bruce. We've done a thorough assessment of the value of your new drug patents and believe they're worth at least $3 to $500 million, and I think you'll need a team of accountants soon. Flower said he was jealous of the fact that a new billionaire was about to be born.
"Oh yes, that's good news, it's up to you to negotiate with those pharmaceutical companies." Li Jie nodded, not too surprised by the news.
Is this guy really a young man? Once again, Flower felt that he couldn't understand Li Jie in front of him, and he didn't show much joy in the face of the huge wealth that was about to arrive, and he was not even as excited as his agent, and sometimes he felt as if he was talking to a deep old man who was older than himself.
"Our negotiation team is absolutely top-notch, rest assured. Also, the people from Merck and Roche again offered to meet with you, and the people from Novartis didn't say what they meant, but I think they must have tried it. "Flower admired Li Jie a little, he was so calm and didn't give those guys the slightest chance to bypass the negotiation team.
"How's the bid going?" These guys are naturally ubiquitous, and they quickly found out that Samson was not the main applicant for the patent, and found Li Jie, wanting to use him to lower the price of the patent. However, Lee Kit believes in leaving the right things to the right people, and the people at Pearson Hardeman are very professional, and they are better at negotiating in this area, and he will not go beyond the step of getting involved.
That's why he promised to give Flower a proportional share of the commission, and the higher the bargain, the higher their income, and naturally they will not make it easier for pharmaceutical companies that want to obtain drug patents.