Park Jin Hyuk said:
"If you conduct a Phase III clinical trial in the United States, you said that there will be more than 100,000 patients participating, and you said that the vaccine will be put into use directly. Isn't this equivalent to directly marketing the vaccine?"
"You think so?"
"If that's not the case, then why are we being given sponsorship money?"
Buchanan nodded and said:
"Now that things have come to this, there's nothing to hide. The US government's idea is to skip the Phase III clinical trial and directly bring the vaccine to market. The Phase II clinical trial has already met the minimum requirements for the vaccine... because the current situation in the United States is too critical."
"But we believe that a Phase III clinical trial is necessary, and the vaccine cannot be put into use under the guise of a clinical trial."
Park Jin Hyuk's attitude was very firm.
"Can you tell me why?"
"The US government actually wants to push the vaccine directly to the market under the guise of clinical trials. The reason they use the banner of clinical trials is so that if there are any problems, DS Pharmaceuticals will still bear full responsibility. I wonder if I am right?"
If this were not the case, Buchanan could have simply purchased the vaccine and there would have been no need to spend money to invite DS Pharmaceuticals to the United States.
If the vaccine is put into use without fully confirming its efficacy and side effects, even one death case among 100,000 people may cast a shadow on the vaccine's market launch.
Faced with Park Jin Hyuk's questioning, Buchanan shook his head repeatedly.
I don't know whether he is denying Park Jin Hyuk's statement or feels that Park Jin Hyuk is too difficult to deal with.
At this time, the assistant beside him handed him a document.
Buchanan handed the document to Park Jin Hyuk.
Although Park Jin Hyuk took the document, he did not read it.
He was waiting for Buchanan's explanation.
"I know that Rising Sun System Integration is a company you control. I've been thinking about how to achieve a win-win situation for both of us, and that's how this document came about."
"What's the content?"
"This is a contract between Rising Sun System Integration and the U.S. government. The U.S. government plans to use Rising Sun System Integration's products as the designated office platform when government employees work from home."
Park Jin Hyuk flipped open the document in his hand, and Buchanan continued:
"If we can become a designated service provider by the US government, the status of Rising Sun System Integration will be greatly enhanced. With the government's endorsement, the company may even become a benchmark in the industry. What do you think of this proposal?"
If, as Buchanan said, Rising Sun Systems Integration becomes a designated supplier of the US government, then its valuation will not just be $1 billion or $1.5 billion, but will most likely reach $10 billion or $20 billion.
This condition is really attractive.
But after reading the contract, Park Jin Hyuk returned it to Buchanan.
"Xinri System Integration is my personal company, while DS Pharmaceuticals is a subsidiary of DS Group. The two companies are completely different in nature. I do not intend to use DS Pharmaceuticals to benefit Xinri System Integration."
After hearing Park Jin Hyuk's answer, Buchanan immediately looked displeased.
"Aren't these terms generous enough? What exactly do you want?"
"Are you mistaken? You came to see us and gave us advice. I never said I wanted to go to the United States to conduct clinical trials."
Park Jin Hyuk turned around and asked Mao Dayong:
“According to the current plan, when will the vaccine be available on the market?”
Park Jin Hyuk was not unaware of the planned launch time; he wanted Mao Dayong to tell Buchanan.
“It is planned to be listed before the end of October.”
Park Jin Hyuk said to Buchanan:
"You heard it, right? Let's discuss it later."
Park Jin Hyuk stood up.
"We failed to reach a deal today, but if you have a new plan, you are welcome to contact me at any time."
After saying that, Park Jin Hyuk walked out with Zheng Qiying and Mao Dayong.
Ambassador Green followed them out.
Because Zheng Qiying and Mao Dayong came by taxi, they got on the same car when they went back.
As soon as the car drove out of the US Embassy, Zheng Qiying couldn't wait to ask Park Zhenhe:
"Chairman, it's not impossible to conduct experiments on both sides at the same time, right?"
After hearing Zheng Qiying's question, Park Jin Hyuk stopped the car on the side of the road.
"Because I am not satisfied with any of the proposals proposed by Buchanan."
Mao Dayong couldn't help but say:
"While there are risks, based on the current data, the likelihood of major problems is low... perhaps the risk is worth taking."
"As a government official, although I don't know much about Rising Sun System Integration, I think the conditions they offer are quite attractive."
Park Jin Hyuk said to Mao Dayong seriously:
"Clinical trials must be rigorous and thorough. Even if only one or two people out of 100,000 have problems, it could be catastrophic."
Then he said to Zheng Qiying:
"Even without the US government's endorsement, Rising Sun System Integration can still become an industry benchmark. If the government gets involved, it might interfere with the company's operations and management, which I cannot accept."
The other two fell silent.
Because what Park Jin Hyuk said makes sense, it seems that he has taken all these factors into consideration.
"It's him, not us, who's anxious now. If the situation wasn't critical, why would he come all the way to South Korea?"
Mao Dayong nodded.
"You're right. Otherwise, he wouldn't have asked for 1 billion copies right away. That's unrealistic."
"I think the 1 billion doses is not just a random number, but a calculated number. President Mao, what is the price of our vaccine?"
Mao Dayong replied:
"The price plan is set at around 100,000 yuan, and after health insurance subsidies, consumers only need to pay 30,000 yuan."
Park Jin Hyuk thought for a moment and said:
"Raise the price a little higher."
"Raise it higher? I'm afraid the people will object."
"I'm talking about the export price. We can determine a relatively reasonable domestic sales price, then increase it by 50% to determine the export price."
"this……?"
Currently in South Korea, the domestic sales prices of many commodities are higher than their export prices.
Therefore, Mao Dayong also plans to operate the vaccine in the same way this time. This will not only be beneficial for export, but also because health insurance can cover 70% of the cost, it will be acceptable to the domestic people.
Zheng Qiying said:
"There is no need to worry because we have health insurance in the country. For low-income groups, the government plans to cover more expenses, possibly up to 90%."
"Captain Zheng, you can't say that. Health insurance doesn't just fall from the sky. It's paid for by the people's taxes. We should still determine a reasonable initial price."
Zheng Qiying felt a little embarrassed by what Park Jin Hyuk said.
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