Extraordinary Genius - Chapter 695
Chapter 695 – A wealthy fool (Part 2 of 2)
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Pfizer was one of the world’s top pharmaceutical company.Although it was not the biggest in the world, it was about the same as the restof the top pharmaceutical companies. It was established in the last century. Itstarted as a small chemical factory and then ventured into the pharmaceuticalindustry. During the Civil war, they prospered and became one of the biggestpharmaceutical company in the US.
Later, antibiotic was discovered, and Pfizer started toresearch on it. Pfizer slowly grows to become one of the leading companies inantibiotics.
This was around the time when WW2 started. Pfizer started tosupply penicillin at a low cost to the US Army and subsequently became thebiggest supplier of Penicillin during the war. This resulted in the companygrowing even bigger.
After that, Pfizer successfully developed Oxytetracycline, Tetracycline,and Piroxicam. All these medications brought high profits to the company.
Currently, most of China’s Oxytetracycline, Tetracycline,etc. were manufactured by Pfizer. Tetracycline was cheap and effective, and itbecame a commonly used drug in China. This also resulted in people getting tetracyclinepigmentation teeth.
Pfizer saw the benefits of developing drugs and used theirfunds to research and develop more drugs. Their focus was the medications whichwill be needed in large volume worldwide.
For instance, blood pressure medications, cholesterolmedicine, painkillers, and anti-inflammation medicines. They also produce themost advanced antibiotics and anticancer drugs.
Pfizer had good results. They were continually developingnew drugs, and every new drug bought high profits for the company.
Pfizer was able to become one of the top pharmaceuticalcompanies was because they own many patented drugs. The protection for drugsand medications was 20 years. Within these 20 years, Pfizer was able to gethigh returns from the sales of these drugs. Even after the protection years,they would still be able to make high profits as they had perfected theproduction of these drugs and were able to produce at high volume.
Coupled with Pfizer’s brand and reputation, their drugs soldvery well.
Now, Mr. Feng wanted to buy their patents? How can this bepossible? It was unheard of for Pfizer to sell their patents unless it wasnearing to the end of the patent protection.
“Mr. Feng, I cannot make this decision because the patentsare our company’s greatest assets,” Victor replied.
Feng Yu showed an unhappy expression: “Assets are supposedto be sold for profits. You still have not heard my offer. How do you know yourcompany will not agree? Furthermore, you all have not sold any patented formulabefore?”
What Feng Yu said was true. Developing medicines andapplying for patents were for creating wealth. It was not as what they claimedof benefiting mankind with their drugs. If they could sell their patents athigh prices, they would.
But Pfizer’s medicines were all very profitable and were indemand all over the world. Why would they sell the patented formulas of thesemedicines to others?
However, they could sell the authorization of these patents.If Victor were able to negotiate a high authorization fee for these patents,maybe the company would give him some rewards. He does not want any monetaryrewards. He only wishes to be transferred back to the US. He wants to be withhis family.
“We have not sold our patented formulas before. But we hadauthorized other companies to produce our medicines in the past. If Mr. Fengwants the authorization, we can discuss it.” Victor replied.
Authorization? There were no profits in that. Most of theprofits will be taken away by Pfizer. Bing City Pharmaceutical also have theirown R&D department, and many top researchers were employed. There was noneed to buy the authorization from Pfizer.
Feng Yu was interested in one type of medicine that wasstill being developed by Pfizer. This medicine has a “side effect,” which ismore effective than what this medicine was developed for. Sildenafil!
This was a new drug which was still being developed byPfizer. It was supposed to be used for treating Angina Pectoris, bloodcoagulation, and lower blood pressure. But after this drug was developed, theresults from the clinical trials were not depressing.
This drug was a failure. It was not as effective, and itwill not sell.
But the researchers discovered that many participants of theclinical trials secretly kept some of this medicine. A few researchers triedtaking this drug themselves and found the “side effect.” This drug was able togive men a raging erection.
So, the researchers changed the direction of their researchand made this drug as a treatment for erectile dysfunction. The was reported totheir higher-ups in Pfizer, and Pfizer conducted market research for drug over3 years.
It was until early this year when the clinical trialsstarted. The results of the trials were splendid. More than 80% of theparticipants had improved after taking this drug.
There were similar drugs in the market, but those wereinjected into the bodies, and it was not that effective. Also, who would wantto give themselves an injection before making love? All mood would be gone.
Feng Yu had sent his men to contact Pfizer and asked if hecould buy the formula for this medicine. But he found out that Pfizer hadstarted trials for this drug. That means it was too late for him to buy it.
Pfizer was a world-renowned company, and it was impossibleto buy their formula with some money. Although Feng Yu had made a high offer,Pfizer rejected him. Pfizer could sell the authorization but not the patent.
Feng Yu was not satisfied with just getting theauthorization. He wanted more than that. He wants to own the patent of thisdrug. But it was difficult. He could only set a trap.
“Victor, do you think I am someone who would pay othersauthorization fees? What I want is to buy some formulas. Some formulas fordrugs which can treat some illness. It doesn’t matter what sort of illness.Even half-finished products are fine. I am not choosy. I am sure your companywill be satisfied with my offers.” Feng Yu said.
Feng Yu only know that Sildenafil is a PDE5 Inhibitor. Inhis previous life, there was more than one type of Sildenafil. There were atleast two types of similar drugs. Feng Yu only need to buy the formula for PDE5Inhibitor. The rest of the research will be easy once he got this formula.
With the formula for PDE5 Inhibitor, Feng Yu was confidentthat Bing City Pharmaceutical would be able to launch Sildenafil earlier thanPfizer. This was because China was not as strict as the US. Once Bing City Pharmaceuticalbecame the first in the world to produce this wonder drug, the sales of thisdrug will surely be better than any other companies.
Victor heard what Feng Yu said. Half-finished products? Thatmeans Pfizer could sell most of their failed products to him?
Mr. Feng was wealthy, but he was a fool. If he really boughtall the half-finished formula, then the company’s cost will be reduced. Victorwould have helped Pfizer a lot.
Victor should be able to apply for a transfer back to the USwith this credit.
“Mr. Feng, if you are interested in our half-finishedproducts, I can help you ask my headquarters.”
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