He is Already a Tycoon at a Young Age! - Chapter 81



Only Noblemtl

#081

March 15, 1997, Pfizer Korea President’s Office.

“Taean Pharmaceutical’s largest shareholder has determined that the company has no intention of selling male erectile dysfunction treatment drugs to its headquarters. It is also considering listing in the U.S.”

-A South Korean pharmaceutical company is listing on the NASDAQ in the United States?

“Yes, Taean Pharmaceutical has already met the listing requirements, but it is not listed on the Korean stock market. It seems that it is trying to list on the U.S. stock market because there is a limit to the increase in the composite stock price index if it is listed on the Korean stock market.”

-That could be true. But wouldn’t it be a loss to trade all of Pfizer’s pharmaceutical patents for the patent rights to its male erectile dysfunction treatment?

“That’s what other companies think. However, it is said that Taean Pharmaceutical’s largest shareholder made the same offer to Bayer Pharmaceuticals.”

-In Bayer too?

“I believe that Bayer Pharmaceuticals has probably been offered exclusive distribution rights in Europe. As you know, the product would be a hit if sold in the North American market.”

-Of course, it’s a blessing for men who bow their heads.

“Mr. Chairman, what Taean Pharmaceuticals is asking for is the sales rights for the Asian and African continents. I think it would be a good idea to trade them. Because they are the exclusive sales rights for the American continent.”

If this deal goes through, Taean Pharmaceutical, which developed the drug, will not be able to sell the male erectile dysfunction treatment in the Americas, including the United States.

-Is that what you think?

“Yes, that’s right. Taean Pharmaceutical is probably trying to shorten the time for pharmaceutical patent development and expand its influence in Asia. We’ll meet again tomorrow. So whatever decision you make, I’ll follow.”

-We have already finished discussing with the board of directors. We have decided to secure the rights to use Taean Pharmaceutical’s male erectile dysfunction treatment and allow the use of our company’s general pharmaceutical patents.

“What if you say general medicine?”

-Except for AIDS treatment inhibitors and rare incurable drugs, the decision has been made to reduce the patent usage rights for general medicines. Now, the only thing left is your negotiating skills.

The Pfizer Korea representative unconsciously frowned at the words of the Pfizer Pharmaceuticals chairman.

‘The most important part is missing.’

The head of Pfizer Korea was convinced that what Ji Sung, the largest shareholder of Taean Pharmaceutical, wanted was an AIDS treatment inhibitor.

[It would be a good deal if they approved the use of pharmaceutical patents in the Asian and African continents.]

He remembered what Ji-seong had said to him.

AIDS patients were currently spreading across the African and Asian continents.

“I will do my best.”

-Keep in mind that this is a pharmaceutical patent that is absolutely necessary to increase Pfizer’s market capitalization. This time, you will have to use your negotiating skills to the max.

“Yes, I understand.”

Stop!

The call is over.

The Pfizer Korea representative frowned as soon as he hung up the phone.

“shit!”

* * *

Taean Pharmaceutical CEO’s Office.

In the Taean Pharmaceutical CEO’s office, the Taean Pharmaceutical CEO and the director of the Taean Pharmaceutical Bio Research Institute, which was established under Taean Pharmaceutical, are sitting looking at me.

“Tomorrow is the date when Pfizer Pharmaceuticals will make its final decision on the proposal you have proposed and notify you.”

The president of Taean Pharmaceutical said to me.

“I know, but I’m not really looking forward to tomorrow’s negotiations.”

“yes?”

The president of Taean Pharmaceutical asked back with a surprised expression on his face at my words.

“If I were the chairman of Pfizer Pharmaceuticals and a director on the board, I would only allow the use of patents related to general medicines, excluding AIDS treatment inhibitors and rare incurable diseases, which are the core of Pfizer Pharmaceuticals.”

“Isn’t the access to AIDS treatment inhibitors the key?”

“That’s right. That’s why I’m saying there’s no need to expect much. Of course, it would be a great benefit for Taean Pharmaceutical to use the patents for general pharmaceutical products.”

“So, you’re saying that you would accept Pfizer’s offer?”

“It takes too long to develop a new drug, so I would accept it even if it means shortening the time.”

“Sir, if that happens, we will lose the sales rights in the Americas. And when we go public, it may not be as successful as you expect.”

I nodded to the words of the Taean Pharmaceutical CEO.

“Once pharmaceutical patent technologies are transferred and pharmaceutical development technologies are secured, we will have to conduct our own research. In fact, that is the real purpose.”

In the pharmaceutical and biotechnology industries, securing development technology is most important. To do so, capital must be invested in research over a long period of time.

‘There is no other way to quickly build a foundation.’

That’s why I made that suggestion.

“Sir, are you saying that the Pharmaceutical and Biotechnology Research Institute should start developing an AIDS treatment inhibitor?”

The director of the pharmaceutical and biotechnology research institute, who had been silent until now, asked me a question.

“Yes, an AIDS treatment inhibitor must be developed. If we develop that new drug, we may not be able to make huge profits like Pfizer, but the areas in which it can be used will be much larger than you might think.”

“You say it can’t make huge profits?”

The president of Taean Pharmaceutical asked me back with a look of incomprehension.

“Yes, I don’t plan to make money from the AIDS treatment inhibitor. I plan to offer it as a gift to the countries in Asia and Africa when I enter those countries.”

“Sir, if you were to research and develop an AIDS treatment inhibitor on your own, it would require an unimaginable amount of capital and time. I am perplexed when you say you have no intention of making a profit.”

“I know. But I don’t think pharmaceutical companies should make huge profits at the expense of patients’ lives. In fact, the prices of drugs that multinational pharmaceutical companies succeed in developing and exclusively selling are too high. This is especially true for AIDS treatment inhibitors.”

Taking anti-HIV medications makes it possible to lead a normal life.

But poor Africans and Asians on the continent cannot afford the drugs because they are so expensive, and they have to die.

‘of course!’

From a business perspective, all multinational pharmaceutical groups, including Pfizer, are understandable.

Of course it should be done that way.

“Sir, I think you are approaching the pharmaceutical business in too humanitarian a way.”

“Sir, I am not a philanthropist. I have a different approach to business. For example, in India alone, the number of AIDS patients is skyrocketing.”

“Yes.”

“If Taean Pharmaceutical succeeds in developing an AIDS treatment inhibitor and supplies it to India at a low price, it can receive preferential treatment from other parties. To give a simple example, Taean Telecom’s entry into India could become much easier.”

Taean Telecom is a core subsidiary of Taean Group and is also seeking to expand overseas.

[Telecom President.]

[Yes, sir.]

[Don’t worry about business expenses and look for overseas expansion. First, enter the Japanese telecommunications industry. Then, prepare to enter India as well.]

Is India the final destination for overseas expansion?

‘No.’

We plan to expand from the US to South America and even to Africa. So there is no need to risk people’s lives to make money.

“Oh, I see what you mean.”

“Yes, it will bring us more in the end. And you, sir.”

Now here’s the real reason why I came back here.

“Yes, sir.”

“Right now, Taean Pharmaceutical cannot compete with all the multinational pharmaceutical companies, including Pfizer, right?”

“Of course.”

A firm statement from the head of the Pharmaceutical Bio Research Institute.

“I think we need to pioneer new fields because it is difficult to compete in existing fields.”

“You said it was a new field?”

“Yes. I want to go into all kinds of virus research. To that end, we will first establish the world’s largest virus research institute.”

“So you’re saying you’ll place it under the Pharmaceutical and Bio Research Institute?”

“Yes, if we study all kinds of viruses, we can eventually develop vaccines for those viruses. And we can also develop diagnostic devices to diagnose those viruses.”

“That’s a great idea. But as I said before, such a thing would require a huge investment of time and capital.”

“As a businessman, I and the president of Taean Pharmaceutical can worry about money, and as a director who is dedicated to the safety of mankind, you can focus solely on research.”

“I understand, sir. Domestic researchers will not be enough.”

“Scout more virus scientists than you need.”

We will research all viruses to develop diagnostics and also plan to create vaccines.

‘There’s plenty of time.’

Until the coronavirus outbreak.

‘And soon!’

Hong Kong’s avian influenza outbreak will also have Asia trembling with fear.

At that time, the huge amount of capital invested can return as profit.

“Yes, I understand.”

After hearing the research institute director’s answer, I looked at the Taean Pharmaceutical president again.

“Sir, Taean Pharmaceutical, please do some donation work.”

“You call it a donation project?”

Taean Pharmaceutical is already carrying out significant donation projects.

“Yes, I would like Taean Pharmaceutical to cover the treatment costs for rare, incurable pediatric cancer patients.”

What is noteworthy here is that this is a rare, incurable childhood cancer.

‘There aren’t many patients.’

So it’s good for advertising.

“Yes, I will do it right away. I think it will have a great effect on improving Taean Pharmaceutical’s corporate image.”

“The corporate image advertising slogan to be provided to the agency is Taean Pharmaceutical, with the future of children.”

“I will give you instructions on that part as well.”

The president of Taean Pharmaceutical showed a look of admiration as if he was saying that I was definitely different from others.

* * *

Taean Telecom President’s Office.

“The estimated cost of installing repeaters for Internet use at existing mobile communication repeaters is over 100 billion.”

The reporter was reporting and the Taean Telecom president was looking over the documents closely.

[Telecom CEO, the era where you can access the Internet through your mobile phone will definitely come.]

[I’ve been thinking that way more and more these days.]

[So I think we need to prepare in advance before that time comes.]

Currently, the Internet is only available via phone lines.

So, if someone wanted to use the Internet, they had to connect to a regular home phone line.

‘The wireless Internet era is amazing and great.’

The Taean Telecom president couldn’t help but be surprised when he recalled the future business plan that Ji-seong had instructed him on.

“100 billion?”

“Yes, that’s right. And to make it easier to get calls in areas where the currency is bad, an additional 200 billion won or more will have to be invested.”

“Taean Telecom users should be able to make smooth calls no matter where they are. This is the directive of our largest shareholder. Don’t worry about the cost of the project and get started right away.”

“Yes, I understand.”

“In particular, the Internet relay station installation business is the headquarters’ core business, so we have to install an excessive amount of them.”

“Yes, I keep that in mind.”

Jiseong was already preparing for the Internet era with Taean Telecom.