The Magician’s Memorial - Chapter 343



Only Krnovel

343. The beginning of the revolution (2)

next day.

I took a busy CEO to visit Centrian, a pharmaceutical company.

CEO Seo Jeong-jun came out to the lobby and was waiting for us.

Just by looking at his bright face, you could feel how good the Centrian situation was.

“The CEO’s face looks very good. Perhaps because he is the CEO of a pharmaceutical company, he must eat a lot of healthy foods.”

“I heard the news that the president was coming, so I hurriedly decorated it with flowers. Come on and eat inside.”

I went to the representative office under the guidance of CEO Seo Jeong-jun.

Very naturally, CEO Seo Jeong-jun offered me a head seat.

“How can a guest sit at the head table? The president sits there.”

“I can’t because I feel uncomfortable. And the actual owner of Centrion is the chairman. How dare I sit at the head of the table.”

At the earnest request of CEO Seo Jeong-jun, I sat at the head of the table.

To the left and right were Seo Jeong-jun and President Han.

“I’ve been hearing stories here and there that Centrion is doing well these days.”

“Thanks to you, Chairman.”

“Now you have to prepare for listing on KOSDAQ, right? I heard there are thousands of investors waiting for Centrion to be listed on KOSDAQ.”

“If the Chairman gives permission, we will prepare for KOSDAQ listing.”

“If the CEO wants to do it, he can do it. By the way, haven’t sales of Tamiflu decreased significantly?”

Tamiflu, a new flu treatment.

As the trend passed, sales were bound to decrease.

“Still, there is steady demand from Japan and China. Not only swine flu patients, but also regular flu patients are purchasing Tamiflu in large numbers.”

“It is said that sales are still on the rise, but wouldn’t it be possible to grow even higher if we find new foods?”

“So we are steadily progressing the development of new drugs, and it will soon be possible to produce biosimilar drugs.”

All drugs had patents.

However, the patent period was 10 to 14 years at most.

Once the patent period expired, any pharmaceutical company could manufacture and sell the drug.

This was called biosimilar medicine, and it was also the business that Centrian was focusing on.

“If biosimilar drugs can receive FDA approval, Centrian’s value will rise again.”

“We predict that the company’s value will increase significantly even if it is recognized as being equivalent to existing drugs.”

“By the way, aren’t you interested in manufacturing insulin? I heard that the insulin market is increasing significantly every year.”

Insulin is an essential medicine for diabetic patients.

However, in Korea, there was no pharmaceutical company that could manufacture insulin yet.

“It’s not that I’m not interested at all, but the manufacturing process is very complicated. And although it’s been over 90 years since insulin was developed, the company that has the monopoly continues to register new technologies and renew patent rights, so I can’t even think about it. ”

“What if we obtained the production rights from a pharmaceutical company that holds the patent rights for insulin? Then would manufacturing be possible?”

Currently, insulin is monopolized by three companies.

Korea was also importing 100% of its insulin from overseas.

“Securing the production rights will take a lot of time, but production is possible somehow. In addition to Dr. Jang-Woo Kim, we have also recruited many experts this time. We were able to recruit them thanks to the help of the Chairman.”

“Since they are mRNA experts, they will be of great help in developing new drugs.”

These were talented people that David recruited while traveling all over Europe.

They were pioneers in mRNA technology, and we were very fortunate to recruit them.

In fact, mRNA technology was developed more than five years ago, but it did not receive much attention.

So they had to cut their own salaries to continue their research.

Therefore, we were able to recruit them with high salaries and research support.

“That’s why I said that insulin production is possible. They are talented people who will be of great help not only in developing new drugs but also in producing insulin.”

“So, it means that production is possible as long as you have the right to produce insulin.”

“If we succeed in manufacturing and selling insulin, we can generate huge sales. There are over 5 million people with diabetes in Korea alone. Moreover, the number of people with diabetes is increasing significantly every year.”

A CEO who was quietly listening to our conversation cleared his throat.

He said he wanted to talk too, and I looked at him and made a hand gesture.

“It takes a huge amount of money to secure the right to produce insulin. If at least 3 to 5 years are needed to successfully manufacture insulin, it will take at least 10 years or more to turn a profit. In the process, cheap generic insulin is developed. If that happens, you could suffer huge losses.”

“So isn’t now an opportunity? There is a pharmaceutical company in Europe that controls 30% of the insulin market.”

“Are you saying that we should take advantage of the difficult situation caused by Europe’s financial crisis to secure the rights to produce insulin cheaply?”

I nodded.

However, President Han continued speaking as if he was worried.

“The pharmaceutical company you mentioned is Robo Nordisk, which is located in Denmark. Unlike other countries in Europe, Denmark is not experiencing a major financial crisis. Of course, the stock price is falling, but it is not at a critical level.”

“So now is your only chance. Even if you say you are not experiencing a major financial crisis, deep down you are probably feeling anxious.”

“That alone is not enough. If we want to secure the rights to produce insulin, we have to have something that can persuade them.”

I nodded again.

As President Han said, we must have a strong hand, but Robo Nordisk Pharmaceutical Company will agree to negotiations.

“Various European banks hold shares in Robo Nordisk. How is it possible to acquire shares?”

“It is possible to acquire shares. However, if you acquire shares now that the European fiscal crisis is expected to continue, you will incur large losses.”

“The European financial crisis will end someday. And isn’t that what we need to earn money to make these investments?”

It was Taewoo Securities, which made a huge amount of money in Japan and Europe.

In order to open up new markets, including shale gas, they attacked Japan and Europe, even risking criticism.

“Do you expect the value of Robo Nordisk to rise?”

“It will rise at least 50 times its current value within 10 years at the earliest or 20 years at the latest. And it is a company whose stock price will rise steadily starting next year.”

“If the Chairman has decided so, I will purchase all of Robo Nordisk’s shares on the market. I will sweep up all shares held by European banks as well as Wall Street. Currently, Robo Nordisk’s market capitalization is approximately $60 billion. Approximately. “If you spend around $30 to $40 billion, you can secure a stake of more than 50%.”

Is it possible for a person to suddenly change like this?

A CEO who had been opposed until now changed his mind and rushed to acquire shares more aggressively than me.

“Is it okay to spend 30 billion dollars? Isn’t it a waste of money that CEO Han earned so hard?”

“If the stock price is going to rise 50 times, we need to raise as much as possible, even if it means taking on debt, not $30 billion.”

“And what are you going to do if the stock price falls?”

“Chairman, when has your prediction ever been wrong? I feel like I want to return all the money I had invested in shale gas and use it to acquire shares of Robo Nordisk.”

What President Han wanted was not persuasion.

I just wanted to hear from my own mouth that Robo Nordisk’s future value is high.

President Han released all the brakes at the mere mention of a company that would grow more than 50 times.

“Even if we acquire shares, we cannot do whatever we want with Robo Nordisk. The foundation, which owns about 28% of the shares, holds 75% of the voting rights.”

“Then we have to persuade the foundation to secure the rights to produce insulin.”

CEO Seo Jeong-jun opened his mouth.

For President Han, the right to produce insulin was not important, and he was already thinking about how he could acquire as many shares of Robo Nordisk as possible.

“I plan to persuade the foundation myself. I will visit Denmark soon and meet with the foundation’s board of directors to persuade them.”

“As I work in the same pharmaceutical industry, I have heard a lot about the Robo Nordisk Foundation. It is said to be the number one foundation among all foundations in the world in terms of donation amount. It is said to have donated more money than Bill Gates’ foundation.”

Robo Nordisk made a lot of money by monopolizing insulin.

It was a company that sold insulin to diabetic patients at a high price, but it contributed to society through donation activities with the profits it earned.

Therefore, it was necessary to approach it cautiously.

That was why I went to Denmark myself and tried to persuade them.

“I know very well that this is a pharmaceutical company that values ​​social activities. That’s why we have already established customized operations. In the process, we may need to use Centrion’s assets.”

“You can use it as much as you want. It’s okay to sell the entire company. If it weren’t for the chairman, Centrion wouldn’t be where it is today. But insulin is a good medicine, but is there a reason for the chairman to go to such lengths? Honestly, this is a company that produces insulin. I also don’t believe that its value will grow more than 50 times in the future.”

I answered CEO Jeongjun Seo’s question with a smile.

Because I was living my life twice, I couldn’t tell him the information I knew.

To be honest, everyone thought like CEO Seo Jeong-jun.

You might wonder why we are obsessed with a company that simply manufactures insulin, a diabetes medicine.

However, diabetes treatment is bringing a new revolution.

What if shale gas brings a revolution to the oil industry?

Robo Nordisk will bring a revolution in diet treatment.

All medicines can cause big or small side effects.

In the future, diabetes treatments developed by Robo Nordisk will have the side effect of weight loss.

Weight loss was a benefit, not a side effect.

It was a miracle drug for people struggling to lose weight.

This was also the reason why Robo Nordisk’s corporate value increased more than 50 times.

* * *

New Year 2012.

I left all my work behind and moved to Denmark.

When I arrived at the airport, CEO Han and David were waiting for me.

“Thank you for your hard work coming.”

“CEO Han and David had more trouble than me. They had a hard time acquiring the shares of Robo Nordisk.”

“The shares held by Wall Street were acquired through David at a small premium, and the shares held by European banks were acquired cheaper than expected. Money was dry due to the European financial crisis, and Quantum Fund supported it. “Thanks for shooting.”

Currently, the most feared person in Europe is George, CEO of Quantum Fund.

These were European banks that obediently handed over their shares in Robo Nordisk because there was nothing good to be gained from having to deal with CEO George.

And the European fiscal crisis is prolonging.

Nowadays, it is necessary to have as much cash as possible, so the acquisition of shares could be easily carried out.

“What percentage of shares have you secured so far?”

“We used $27 billion to secure a 28% stake. We are also acquiring shares released on the market, so we expect to be able to secure a 30% stake within the first half of the year.”

“With about 30%, we can negotiate shoulder to shoulder with the board of directors of the Robo Foundation.”

“The schedule is tight. We have a meeting with the board of directors scheduled for tomorrow.”

Thanks to David’s efforts, the meeting with the board of directors was successful.

David had built up contacts not only in the United States but throughout Europe, and he mobilized people from the political and business world to approach Robo Nordisk.

“There is no benefit in wasting time. We will have a final decision tomorrow.”

“It won’t be easy. There are rumors all over Denmark about how strict the Lobo Foundation board members are.”

“It’s actually better to deal with picky people.”

We quickly moved to the hotel.

It took a long time to prepare for the strict Robo Foundation board of directors, so I had to take a quick break.