Chapter 695 – A wealthy fool Part 2 of 2
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 rest of the top pharmaceutical companies. It was established in the last century. It started as a small chemical factory and then ventured into the pharmaceutical industry. During the Civil war, they prospered and became one of the biggest pharmaceutical company in the US.
Later, antibiotic was discovered, and Pfizer started to research on it. Pfizer slowly grows to become one of the leading companies in antibiotics.
This was around the time when WW2 started. Pfizer started to supply penicillin at a low cost to the US Army and subsequently became the biggest supplier of Penicillin during the war. This resulted in the company growing 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 it became a commonly used drug in China. This also resulted in people getting tetracycline pigmentation teeth.
Pfizer saw the benefits of developing drugs and used their funds to research and develop more drugs. Their focus was the medications which will be needed in large volume worldwide.
For instance, blood pressure medications, cholesterol medicine, painkillers, and anti-inflammation medicines. They also produce the most advanced antibiotics and anticancer drugs.
Pfizer had good results. They were continually developing new drugs, and every new drug bought high profits for the company.
Pfizer was able to become one of the top pharmaceutical companies was because they own many patented drugs. The protection for drugs and medications was 20 years. Within these 20 years, Pfizer was able to get high 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 the production of these drugs and were able to produce at high volume.
Coupled with Pfizer’s brand and reputation, their drugs sold very well.
Now, Mr. Feng wanted to buy their patents? How can this be possible? It was unheard of for Pfizer to sell their patents unless it was nearing to the end of the patent protection.
“Mr. Feng, I cannot make this decision because the patents are our company’s greatest assets,” Victor replied.
Feng Yu showed an unhappy expression: “Assets are supposed to be sold for profits. You still have not heard my offer. How do you know your company will not agree? Furthermore, you all have not sold any patented formula before?”
What Feng Yu said was true. Developing medicines and applying for patents were for creating wealth. It was not as what they claimed of benefiting mankind with their drugs. If they could sell their patents at high prices, they would.
But Pfizer’s medicines were all very profitable and were in demand all over the world. Why would they sell the patented formulas of these medicines 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 monetary rewards. He only wishes to be transferred back to the US. He wants to be with his family.
“We have not sold our patented formulas before. But we had authorized other companies to produce our medicines in the past. If Mr. Feng wants the authorization, we can discuss it.” Victor replied.
Authorization? There were no profits in that. Most of the profits will be taken away by Pfizer. Bing City Pharmaceutical also have their own R&D department, and many top researchers were employed. There was no need to buy the authorization from Pfizer.
Feng Yu was interested in one type of medicine that was still being developed by Pfizer. This medicine has a “side effect,” which is more effective than what this medicine was developed for. Sildenafil!
This was a new drug which was still being developed by Pfizer. It was supposed to be used for treating Angina Pectoris, blood coagulation, and lower blood pressure. But after this drug was developed, the results from the clinical trials were not depressing.
This drug was a failure. It was not as effective, and it will not sell.
But the researchers discovered that many participants of the clinical trials secretly kept some of this medicine. A few researchers tried taking this drug themselves and found the “side effect.” This drug was able to give men a raging erection.
So, the researchers changed the direction of their research and made this drug as a treatment for erectile dysfunction. The was reported to their higher-ups in Pfizer, and Pfizer conducted market research for drug over 3 years.
It was until early this year when the clinical trials started. The results of the trials were splendid. More than 80% of the participants had improved after taking this drug.
There were similar drugs in the market, but those were injected into the bodies, and it was not that effective. Also, who would want to give themselves an injection before making love? All mood would be gone.
Feng Yu had sent his men to contact Pfizer and asked if he could buy the formula for this medicine. But he found out that Pfizer had started trials for this drug. That means it was too late for him to buy it.
Pfizer was a world-renowned company, and it was impossible to 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 the authorization. He wanted more than that. He wants to own the patent of this drug. But it was difficult. He could only set a trap.
“Victor, do you think I am someone who would pay others authorization fees? What I want is to buy some formulas. Some formulas for drugs 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 company will be satisfied with my offers.” Feng Yu said.
Feng Yu only know that Sildenafil is a PDE5 Inhibitor. In his previous life, there was more than one type of Sildenafil. There were at least two types of similar drugs. Feng Yu only need to buy the formula for PDE5 Inhibitor. The rest of the research will be easy once he got this formula.
With the formula for PDE5 Inhibitor, Feng Yu was confident that Bing City Pharmaceutical would be able to launch Sildenafil earlier than Pfizer. This was because China was not as strict as the US. Once Bing City Pharmaceutical became the first in the world to produce this wonder drug, the sales of this drug will surely be better than any other companies.
Victor heard what Feng Yu said. Half-finished products? That means Pfizer could sell most of their failed products to him?
Mr. Feng was wealthy, but he was a fool. If he really bought all the half-finished formula, then the company’s cost will be reduced. Victor would have helped Pfizer a lot.
Victor should be able to apply for a transfer back to the US with this credit.
“Mr. Feng, if you are interested in our half-finished products, I can help you ask my headquarters.”