Tech Giants: Starting from Bankrupt Companies

336: Chapter 336 The Twilight of Pharmaceutical GiantsNew York.

The Pfizer headquarters is located on 42nd Street in Manhattan, a skyscraper with a glass curtain wall. In the top-floor conference room, CEO Albert Bourla sat at the head of the table. On the screen in front of him was a comparison of the parameters of Xingchen’s three miracle drugs.

Sixty-year-old Bourla had worked at Pfizer for thirty years, rising from a frontline sales representative to CEO. He had experienced the glory of Lipitor, witnessed the rise of Erbitux, and orchestrated the partnership with BioNTech.

But at this moment, his palms were sweating.

On the big screen, the data for the three drugs was shocking:

Lipitor (lipid-lowering drug): Annual sales of $12 billion. Its patent expires in two years, though it could have lasted a few more years.

Erbitux (anti-cancer drug): Annual sales of $8 billion. Now, Xingchen’s Xing Kangning has an efficacy rate of 92%, while Erbitux only has 68%.

Palbociclib (anti-cancer drug): Annual sales of $5 billion. It is also facing being crushed by Xingchen.

The President of R&D whispered, ”Xing Kangning’s efficacy rate is 92%, and our Erbitux is 68%. If it is approved, Erbitux’s market share will drop to zero within five years.”

Bourla was silent.

The CFO added, ”Lipitor’s patent expires in 2020, and it could have lasted a few more years. But now... Pfizer’s stock price has already fallen by 8% today.”

Bourla finally spoke, ”Can we buy their patents?”

”We’ve contacted them. Xingchen won’t sell.”

”Can we cooperate?”

”They said they can do contract manufacturing, but they won’t transfer the technology.”

Bourla gave a bitter smile.

Basel, Switzerland, Novartis headquarters.

Novartis CEO Vasant Narasimhan urgently requested a meeting with the President of the Swiss Confederation.

Fifty-five-year-old Narasimhan is French and has been leading Novartis for six years, bringing this Swiss pharmaceutical company into the global top three. But at this moment, his face was full of anxiety.

”Mr. President, if Xingchen’s three drugs enter Europe, Novartis’s billions in R&D investment will be completely wasted.”

The President of the Swiss Confederation sat opposite him, silent for three seconds.

”Mr. Narasimhan, are you asking me to refuse to approve Xingchen’s drugs?”

Narasimhan did not speak.

The President sighed, ”Do you know how those patients will react? They will surround the parliament, they will call us ’running dogs for pharmaceutical companies.’ Novartis is a Swiss company, but Switzerland cannot live only for Novartis.”

Narasimhan’s expression became even uglier.

Tokyo, Takeda Pharmaceutical.

Takeda Pharmaceutical’s headquarters is in Osaka, but CEO Christophe Weber was currently on a business trip in Tokyo. After seeing the live broadcast of Xingchen’s press conference, he immediately made a completely different decision.

He picked up the phone and called Shen Mubai.

”Dr. Shen, this is Weber from Takeda Pharmaceutical.”

Shen Mubai’s voice came from the receiver: ”Mr. Weber, hello.”

Weber got straight to the point: ”Takeda is willing to cooperate with Xingchen. We can provide channels in the Japanese market, clinical trial data, and government relations. The condition is that Xingchen’s drugs will be sold in Japan under the Takeda brand.”

Shen Mubai smiled.

”Mr. Weber, this call of yours is much smarter than Pfizer’s.”

Weber gave a bitter smile: ”Dr. Shen, Pfizer is still thinking about how to block you. We have already figured it out—if you can’t beat them, join them.”

The FDA headquarters is located in Maryland, a gray concrete building. At this moment, a press conference was underway.

FDA Commissioner Stephen Hahn stood behind the podium, his expression serious.

Fifty-five-year-old Hahn was a doctor by training and had worked at the FDA for fifteen years, rising from a frontline reviewer to Commissioner. He had seen countless controversies, but this time, he knew he was standing at the center of the storm.

”After a preliminary assessment, the FDA has decided to conduct a comprehensive data review of Xingchen Biomedical’s three products. Before the review is completed, these products may not be marketed or sold in the United States.”

The press section was in an uproar.

A reporter raised their hand to ask: ”How long will the review take?”

”At least twelve months.”

”Why can the European Union approve it quickly?”

Hahn was silent for a second.

”The European Union has its standards, and the United States has its laws.”

11:00 AM, Basel, at the Xingchen press conference.

Shen Mubai was being interviewed by reporters when his assistant hurried over and whispered a few words in his ear.

Shen Mubai was silent for three seconds.

Then he smiled.

He turned around and faced the cameras: ”Friends in the press, the FDA has just announced that they are rejecting Xingchen’s drugs.”

The audience was in an uproar.

Shen Mubai continued: ”They say they need to review the data. Then we will release all the data—3,200 patients, 1,800 patients, 17 types of genetic diseases, all raw data, everything will be made public.”

He paused, his voice becoming firm: ”Let doctors, scientists, and patients all over the world judge for themselves. If the FDA thinks a 92% efficacy rate is not enough, then they can continue their review. But patients cannot wait twelve months.”

August 23rd, 9:00 AM, Washington, outside the FDA headquarters.

Hundreds of patients and their families held placards and surrounded the FDA building.

”We want to live!”

”FDA is killing people!”

”Approve Xing Kangning!”

Mark, who was in a wheelchair, was also in the crowd.

He held a sign that read: ”I only have two years to live. Xingchen can save me. FDA, why do you want to kill me?”

TV cameras focused on him. It was broadcast live across the United States.

In the White House Situation Room, the President watched this scene and was silent.

Outside the Pfizer headquarters, the same scene played out. Patient organizations surrounded the Pfizer headquarters.

The placards read: ”Pfizer, don’t block our life-saving medicine!”

”Profits vs. lives, which do you choose?”

Bourla stood by the window, watching the crowd downstairs, saying nothing.

2:00 PM, Brussels, European Commission.

The EMA (European Medicines Agency) issued an announcement: ”Xing Kangning, Yiqi, and Nuwa CRISPR-3 Gene Therapy meet EU safety standards and can be sold in the EU starting today.”

Germany, France, Italy, Spain, and the Netherlands issued a joint statement: ”We welcome Xingchen Biomedical for bringing hope to European patients.”

After the news reached Xingchen Headquarters, Su Chen stood by the window, looking at the scenery of Shenzhen Bay.

Lin Wan stood behind him, holding a tablet with the latest news: ”Mr. Su, things have escalated in the United States. Patient organizations have surrounded the FDA and Pfizer, and the White House has received 200,000 petitions. FDA Commissioner Hahn has been summoned by Congress to testify next week.”

Su Chen did not turn around. ”What should we do? Should we file a lawsuit against the FDA?”

Su Chen shook his head. ”No need. Let the American people decide for themselves. If their government won’t let them use better medicine, they will speak with their votes.”

He paused. ”Besides, Europe, Japan, the Middle East, and Southeast Asia are enough for Xingchen to live very well. The United States can wait.”

7:00 PM, Basel, by the Rhine River.

Shen Mubai stood by the river, watching the lights on the other side.

The Rhine River flowed quietly, and the spire of the Basel Minster was reflected on the water. In the distance, bells rang.

The sound of a wheelchair came from behind. Mark came to his side.

”Dr. Shen, thank you.”

Shen Mubai looked down at him: ”Thank you for what?”

Mark smiled. ”Thank you for making me believe that I still have a future.”

Shen Mubai squatted down and looked into his eyes. ”Mark, it’s not my credit. It’s the scientists at Xingchen, those young people who work twelve hours a day. It is they who give you a future.”

Mark’s eyes turned red again. ”I know. So I want to say, no matter the outcome, I am grateful.”

Shen Mubai patted his shoulder. ”There will be a result. The clinical trial for Nuwa CRISPR-3 Gene Therapy will start next month. You will be in the first batch.”

Mark nodded vigorously.

The Rhine River flowed quietly. In the distance, the bells of the Basel Minster rang again.