The expectations of investment institutions for Kechuangbio are not just as simple as going public. They believe that Kechuangbio has the potential to become a leading domestic innovative drug, and there is no rush to go public.
The top ten pharmaceutical companies in the world all have their own products as the main products. For example, AbbVie has an annual turnover of more than 40 billion yuan, of which 20 billion yuan in turnover comes from its flagship product, Humira. The same is true of Merck's flagship product PD-1 inhibitor pembrolizumab injection and Roche Pharmaceuticals.
Take domestic pharmaceutical companies as an example, Lukang Pharmaceuticals, Northeast Pharmaceuticals and other established pharmaceutical companies have products and sales, but because they have no blockbuster products, their valuations cannot compare with Changchun High-tech and Pien Tze Huang, which rely solely on a single drug.
The 47.1 billion-meter valuation of Kechuangbio's B-round investment may be considered expensive, but from the standpoint of investment institutions, they feel that they have made a lot of money, especially after the release of production capacity this year and the good response of Endorphin's listing.
Endorphin is hailed as another big single-product miracle drug by the pharmaceutical industry. Endorphin is now in the early stage of dividends that have just been developed.
Roche bought part of Genentech in 1990.
Later, in 2009, Roche Pharmaceuticals acquired 44% of the shares of Genentech at a purchase price of 46.8 billion yuan.
When the Gene Technology Company was acquired, the Gene Technology Company had only one blockbuster product—artificial insulin.
From a later point of view, Roche's acquisition of Gene Technology was undoubtedly a hugely profitable business, because more than 70% of Roche's product sales came from drugs developed by Gene Technology, including Herceptin, MabThera, Avastin, etc. Wait.
Foreign companies such as Goldman Sachs and IDG also referred to the acquisition of Roche Pharmaceuticals when they invested in Kechuang Bio, because artificial endorphins are products that can compete with artificial insulin in their view. Zheng Li has excellent R&D capabilities, endorphins provide cash flow support, and top R&D talents. The price of 47.1 billion yuan for Kechuang Biotech is completely acceptable.
It has been almost a year since Li Miaomiao came to Gusu from Jiangcheng, but it feels like several centuries have passed in the past year.
She has saved 20 years of time in the workplace. It can be said that very few of her former classmates at Jiangcheng University can spend 20 years in her current position.
Participating in the process from establishment to growth of a company with a valuation of over 100 billion yuan and more than 2,000 employees is an experience that cannot be bought with money.
But Li Miaomiao only has one feeling, which is exhaustion or fulfillment.
When you are high you are full and when you are low you are exhausted.
Li Miaomiao works every day besides work. When I first came here, I was busy with work and study, and participated in the company's system construction, talent recruitment, financial operations and other matters.
Cheng Gang recognized Li Miaomiao's work very much, thinking that she was careful and thoughtful in her work, not only reliable in doing things, but also comprehensive in getting along with people, so much so that he later presided over the recruitment and took a high look at the students of Jiangcheng University.
Later, Li Miaomiao finally cleared her mind and gradually began to adapt to work. After the company received the second round of investment, Zheng Li arranged for her to go to finance to learn from the post.
After the production and R&D integrated base was set up, Zheng Li directly asked her to be the vice president in charge of finance.
Li Miaomiao knows that she has many deficiencies. If she doesn't study financial work, she will be dismissed by the chief financial officer and used as a rubber stamp.
Therefore, apart from daily work, Li Miaomiao is busy studying every day, and Li Miaomiao feels much more tired than her third year of high school.
She could see Zheng Li once a day before, then once a week, and now she can only see Zheng Li once a month.
Li Miaomiao doubts whether the other party is a robot, and work and life have been integrated.
"Dr. Zheng, the main work this month is as follows. The production capacity of endorphin is gradually released. Now the monthly production capacity is 680L, and the good product rate fluctuates around 90%."
"The laboratory in Lion City has completed the site selection and Sign the contract, and Aibo Biotechnology Co., Ltd. will have full authority to design the laboratory and purchase equipment for us."
When Li Miaomiao meets Zheng Li every month, he usually reports on the work content first, and then chats for a few words.
Zheng Li also needs an anchor to keep him human. If a mage loses his humanity, he will fall into darkness. There are many examples of this.
A mage who has fallen into the darkness will do whatever it takes to attack ordinary people. This idea was a mainstream idea in the Middle Ages, but in Zheng Lilai's era, this idea is not correct.
Mage and ordinary people are the same species, which is the philosophy of the Mage Alliance. Mages are higher than humans, and mages and humans have undergone fundamental changes. This is the philosophy of the Sim Empire.
The Empire and the Alliance are at odds.
After Li Miaomiao reported the business dynamics of Kechuang Biotech this month and the matters requiring Zheng Li's decision-making, Zheng Li replied:
"I will optimize the production process and increase production capacity regarding the endorphin production capacity. I agree in principle to the second phase of the production project."
"I think it is okay to authorize other pharmaceutical companies, but how to charge patent fees needs to be negotiated, and we cannot authorize other pharmaceutical companies without reason."
Regarding authorization, Zheng Li thinks it doesn't matter, money It's not very useful to him, what he cares about is whether he can restore his ability to cast spells as soon as possible.
"I bought all the best equipment for the Lion City Laboratory, without considering the cost."
"Cheng Gang proposed to set up an investment company to invest in enterprises in the biomedical industry. I think you can invest or not. You first Discuss, and then form a complete plan and report it to me."
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After Zheng Li replied one by one, Li Miaomiao asked: "Jiangcheng University sent you a message through my father: When Jiangcheng is unsealed, Jiangcheng University hopes to issue it to you." Double bachelor's degree in biology and mathematics."
Whether it is due to Zheng Li's achievements or Zheng Li's huge donation to Jiangcheng during the epidemic, Jiangcheng University is very eager for Zheng Li to become a graduate of Jiangcheng University.
There is still a difference between graduation and drop-in.
Zheng Li: "What do I need to do? Let them award you a bachelor's degree, and you can study for an MBA."
Li Miaomiao was a little moved by Zheng Li's concern, "I feel that there are still many shortcomings that need to be learned. , I plan to go back to continue my studies in the second half of this year."
Zheng Li: "Do you want to go back to class? Then who will I leave the matter of science and technology to biology?"
Li Miaomiao: "I can take care of both sides at the same time. Jiangcheng University only There is no class for the exam, and I go there occasionally to communicate with the teacher."
The treatment given to Li Miaomiao by Kechuang Biology can fully support her round-trip air tickets several times a week, but the problem is that there is no airport in Gusu.
Yes, there is no airport in Gusu. If you want to fly, you have to go to Liangxi or Shenhai. As the city second only to Jinling in Suzhou Province, Gusu has no airport.