Chapter 79: Long Live the Vaccine
Chapter 79: Long Live the Vaccine
< Long Live the Vaccine >
Isung Group was, in name and in reality, number one in South Korea's corporate rankings.
In terms of market capitalization, it held an overwhelming lead in sales revenue and net profit over the second-ranked Mirae Motors Group.
It was a powerhouse with formidable competitiveness across electronics, finance, construction, shipbuilding, services, and healthcare.
An employee in the secretarial office of Isung Biologics answered a call.
“The president of Leons, you say? Yes, I'm familiar with Leons. What can I help you with?”
“I'm calling about an order for vaccine production.”
“You want to place a vaccine production order with us? Shall I connect you to the contracts department?”
“I'd like to speak directly with President Choi Sang-rip.”
“The president is currently in a meeting. Would you like me to have him call you back at this number once he's finished?”
Yoo Seok-tae, the president of Leons, thought the secretary at Isung Biologics was remarkably polite.
Just what you'd expect from a major corporation's employee.
“Hmm. In that case, could you please pass on the message for now?”
“Yes, go ahead.”
“Tell him Kim Shin is waiting in San Francisco to discuss a coronavirus vaccine production contract.”
* * *
A single phone call from President Yoo Seok-tae was all it took for the president of Isung Biologics to fly to the United States himself.
He had apparently taken a private jet to get there as quickly as possible.
“It's an honor to meet you, CEO Kim.”
“Hello.”
Choi Sang-rip, the president of Isung Biologics, had a long and distinguished career in the pharmaceutical industry.
He had worked for several pharmaceutical companies, including Roche.
“Isung Group has been actively investing in the biotech sector and expanding its production capacity. Isung Biologics is now number one in the world in terms of production facilities, and further investments are underway. I'm confident you will be more than satisfied if you sign a contract with our company.”
I listened to his explanation of their factories and production technology.
In the afternoon, CEO Oh Hee-jin of DK Bioscience arrived.
The CEOs themselves were making sales pitches for the coronavirus vaccine production contract.
“Since spinning off from DK Chemical, we have invested heavily in the vaccine sector. We produce hepatitis and cervical cancer vaccines using recombinant protein technology. We also have cell culture and gene recombination processes to produce a variety of other vaccines.”
I met with the heads of both companies and heard various explanations about their businesses.
I hadn't yet revealed the specifics of my proposal.
I had only told President Yoo Seok-tae that we would be discussing a coronavirus vaccine contract.
- President Yoo Seok-tae: You should negotiate the details in person.
- President Yoo Seok-tae: They'll probably be expecting an order of around 10 million doses.
- President Yoo Seok-tae: Even that would be over 80 million dollars in revenue. Plus, producing a COVID vaccine brings a lot of prestige in the industry.
- President Yoo Seok-tae: Ugh. If Leons were ready, this is a deal I would never want to give to someone else.
In many ways, they were bound to be anxious.
That evening, I met with the heads of both companies again.
“I've brought you both here to discuss a vaccine production contract.”
“Yes, please go on.”
Choi Sang-rip and Oh Hee-jin.
The two CEOs seemed to be taking a somewhat relaxed view of the situation.
We were currently in Phase 2 clinical trials.
It was a stage where no one knew if it would even lead to a production contract.
The conventional thinking would be to sign a preliminary production agreement with various conditions attached.
“The initial production volume for the vaccine will be 300 million doses.”
“Three hundred million?”
Both presidents wore similarly dumbfounded expressions.
Having seized the initiative with the sheer volume, I spoke casually.
“And the condition is that production begins immediately. Contact your teams in Korea and send staff to Biolife. Have them listen to the researchers' explanation of the vaccine, then propose the producible quantity, the time required, and a budget.”
*I'm placing a massive order, so you figure out the price and everything else.*
I could afford to throw my weight around this much with major corporations.
If not now, when would I ever get another chance?
* * *
Isung Biologics went on high alert.
Their previous year's revenue was 701.6 billion won.
Though it was a rapidly growing company, this proposed contract far exceeded last year's total revenue.
It was the most enormous deal since the company's founding.
“Why would he want to sign a production contract now? He could lose an incredible amount of money.”
“That's probably because...”
At his subordinate's words, President Choi Sang-rip thought of Kim Shin. He hadn't spent much time with him, but he had sensed a peculiar quality.
A calm yet stubborn demeanor, with a flash of instinct and what seemed like a love for taking risks.
It could have been an image formed from media reports, but still, the proposal didn't seem to have any ill intent.
“He's willing to take a gamble, even with the risks.”
“To be the first to sell the vaccine?”
“I think it's less about that and more about getting the vaccine to the people.”
Not to make money, but to save people by supplying the vaccine quickly.
“But he'll have to invest trillions of won. Isn't that something the government should be doing?”
“Sometimes, an entrepreneur is better than the government. Anyway, everyone, move fast. The client wants production as quickly as possible, so plan accordingly. If we lose this to DK, we should all be prepared to die.”
They listened to the explanation about vaccine manufacturing at Biolife.
They checked available factory facilities and even monitored their competitor's situation.
DK Bioscience made similar moves.
Depending on Kim Shin's proposal, the leading company in Korea's biotech sector could change.
* * *
They say becoming an executive is the pinnacle for a salaried employee.
The presidents of the two companies came to San Francisco to meet me, not even having adjusted to the time difference.
The next morning, they showed up looking as if they hadn't slept all night.
“If Isung Biologics starts preparing now, we can produce 230 million doses by the end of the year. We will modify our factory facilities to enable production to start in three months.”
“DK Bioscience can manufacture 200 million doses within five months.”
Both companies said they could rush it as fast as possible.
Perhaps the hallmark of Korean manufacturing was its ability to work quickly while maintaining the utmost precision.
“Since it's a cell culture method, manufacturing isn't difficult. Assuming we produce over 100 million doses, we can produce a single dose for three dollars.”
President Choi Sang-rip stated the price first, and after a brief sigh, President Oh Hee-jin spoke.
“The price is the same for our company. Three dollars is likely the bottom line for vaccine production.”
President Yoo Seok-tae had mentioned eight dollars, but it seemed the manufacturing cost had dropped significantly with the larger production volume.
It could also be thanks to the fierce competition between the two companies.
“Then I'll entrust 230 million doses to Isung and 200 million to DK.”
“Are you saying you'll order the entire producible quantity?”
“Yes.”
A detailed contract was drawn up immediately.
The terms were a down payment of 100 million dollars, with the remainder to be paid as the vaccines were produced.
*'I'll have to wait and see whether I'm making 430 million defective vaccines or saving lives.'*
* * *
- Isung Biologics Signs Formal Coronavirus Vaccine Contract
- DK Bioscience Secures $600 Million Production and Supply Deal
- Kim Shin Entrusts Coronavirus Production to Korean Pharmaceutical Companies
- South Korea Emerges as a Coronavirus Production Hub
- Korean Biotech Industry Designing and Producing Coronavirus Vaccines
Isung and DK.
News of the production contracts with the two pharmaceutical companies broke the next morning, Korean time.
The stock market reacted as soon as it opened, surging more than 4%.
- South Korean Stock Market Skyrockets!
- Stock Prices Soar on Coronavirus Vaccine News
- Isung Biologics, DK Bioscience Hit Limit Up Together
The stock market was bound to boil over with the news of the vaccine contracts.
- Did our big bro Kim Shin sign with Isung and DK just to make us money?
- Wow, look at that scale. The production deal is over 1.2 billion dollars.
- The big corporations seem small next to our big bro Kim Shin.
- So jealous of people who own Isung Biologics stock. I thought it was overvalued, but now it's got wings.
Among them, some concerned posts occasionally appeared.
- But they're producing the Biolife vaccine, right? It's only in Phase 2 trials?
- They probably just signed a preliminary contract. One that can be canceled anytime.
- Nope. They're starting production right away. Said they're changing the factory equipment for COVID vaccine production.
- What? They're starting production before it even passes clinical trials?
- Won't the stock plummet if the trials fail? They could hit limit down.
- No. A detailed article just came out. It says big bro Kim Shin signed a formal supply contract. Even if the trials fail, the manufacturing companies won't suffer any losses.
- Why would big bro Kim Shin do that?
- There are two likely reasons.
- What are they?
- Either he's incredibly confident in the vaccine, or he wants to produce it quickly to get it out to the world.
- Ah...
- I thought he was just giving us financial therapy, but it turns out he's trying to give us actual vaccine therapy too.
- So he wasn't just a money-grubbing miser.
- Big bro Kim Shin, who's frugal with small change but spends big when it counts.
- He usually drinks cheap coffee, but when he needs to, he bets over 1.5 trillion won.
- Kinda makes you feel warm and fuzzy ;;
* * *
The news of the contracts with the Korean companies was widely reported in the United States and Europe.
- Kim Shin: Savior of the Coronavirus Era?
- The Genius Investor's Risky Decision
I spent my time working hard, paying no mind to the outside reactions.
It might sound arrogant, but I had grown accustomed to the popularity on internet communities and YouTube.
I also felt a sense of pride that my good deed was being widely recognized.
People who donate anonymously are amazing, but frankly, I wasn't that mature of a person.
It's a little disappointing to do something good and have no one know.
“Sir.”
“Yes.”
“All the famous nationalist YouTubers are singing your praises.”
“Ahem.”
“'The Hero Who Made Korea Shine in the 21st Century.' You should watch this video.”
“It's fine. I have a pretty good idea what it's about without watching.”
Regardless, I was too busy preparing for the launch of Earth Channel.
- Kim Sang-gi: The gamers have been officially signed.
- Kim Sang-gi: The goal is to win the championship in our first year. Hahahaha.
The gaming team was coming together smoothly.
- Vice President Jeong Beom-tae: We are currently filming seven drama series.
- Kim Shin: Isn't it difficult because of COVID?
- Vice President Jeong Beom-tae: We are being careful with quarantine measures. The staff and actors are only commuting between their accommodations and the filming locations.
- Vice President Jeong Beom-tae: Since other productions have been halted due to COVID, it's actually easier to schedule filming.
In Korea, the filming of dramas, variety shows, and movies was underway.
The personal broadcasting and video content aspects were being prepared by the programmers at Earth Resource.
Two months passed as I diligently focused on my work.
- Paul: Pfizer and Moderna are proceeding with their Phase 2 trials.
- Paul: Phase 2 is proving to be much stricter.
- Kim Shin: What about vaccine side effects?
- Paul: They're not common, but we are seeing a fair number. Things like muscle spasms, inflammatory reactions, and cases where people complain of severe pain for several days.
- Kim Shin: Ah...
For a moment, my vision went dark.
1.5 trillion won.
The amount was even greater if you included the investment in Biolife and the funds to support vaccine development.
I could overcome the financial loss. But for the hope of the vaccine and Dr. Lee Ho-yeon's efforts to...
- Paul: There are side effects, but the situation is urgent. At this rate, it looks like Pfizer and Moderna will also pass their clinical trials.
- Kim Shin: What?
- Kim Shin: What about our vaccine?
Had he given a general answer when I asked about side effects?
Just as I was thinking he was inflexible, I remembered he was a university professor.
- Paul: It is overwhelmingly stable.
- Paul: The possibility of myocarditis and pericarditis, side effects seen in the other two vaccines, is significantly lower. And concerns about blood clots are nonexistent.
- Kim Shin: Really?
- Paul: Yes. It's because it's not an mRNA-based vaccine. There were concerns that its efficacy might be lower than the other two companies' vaccines, but the clinical trials have shown the formation of a higher number of antibodies.
Long live the Biolife vaccine.