Park Jin-hyuk gulped down the cold water Mrs. Onsan had brought, then set the cup down on the table with a loud clatter and spoke.
“So they’re really going to force the sale? Even after I said all that?”
“Not just that. They plan to appoint you as the person in charge of the sale.”
“What? Me…? They want me to be in charge of the sale?”
Park Jin-hyuk paused for a moment, closing his eyes as he tried to suppress the anger welling up inside him.
He barely managed to add a few more words to finish his sentence.
But the anger simmering around him still hadn’t found its way out.
His face was twisted in displeasure, and he wore his dissatisfaction openly in response to Kim Jun-woo’s report.
Still, Kim Jun-woo had to relay everything he had just heard to Park Jin-hyuk.
It was the only way they could come up with a countermeasure.
Kim Jun-woo leaned slightly toward Park Jin-hyuk, who sat with his eyes closed in silence, and began to speak slowly.
“They’re talking about a sale price of 700 billion won.”
“700 billion? So I’m just supposed to show my face at the final stage and bask in the glory of a successful sale, when the price is already set?”
“Yes, that’s right. It seems they want to give you all the credit.”
“I’m so touched by how much they care for me, I could just cry.”
Though Park Jin-man thought he’d explained everything clearly, it seemed he still intended to push forward with his plan.
If he just stayed still, he felt he might get dragged into something against his will.
For Park Jin-hyuk, things seemed to be heading in the direction he least wanted.
“When’s the announcement coming?”
“I heard it’ll be made in as soon as two weeks, or at most within a month.”
“So, they’ll wrap up all the negotiations behind the scenes, and then make it public. Isn’t that right?”
“Yes, that’s correct. Since the negotiations have already begun, as soon as they agree on the price, they’ll announce the sale at any time.”
While they spoke, the flush in Park Jin-hyuk’s face faded, returning to his usual complexion.
If anything, he now looked a little pale, a clear reflection of his current mood.
After pouring himself another glass of cold water and gulping it down, Park Jin-hyuk raised a finger toward Kim Jun-woo and gave an order.
“I can’t just sit still either. Look into Hansung Group for me.”
“Sorry? Hansung Group?”
“That’s right. After I returned from the Jongno headquarters, I kept thinking about it, and something just doesn’t feel right.”
“What do you mean?”
Park Jin-hyuk stood up from the sofa, bowed his head slightly, and paced around as he spoke.
“They said they’d stake the future of the group on the chemical division. And that they’re selling Biologics to raise funds… But the sale price is 700 billion, right? Does DS really have so little cash on hand that they have to sell Biologics for 700 billion?”
At Park Jin-hyuk’s words, Kim Jun-woo lowered his head, lost in thought.
Then, as if he’d realized something, he nodded.
“You’re right, Director. While 700 billion is an enormous sum to most, from the DS Group’s perspective, it’s not so much that they’d need to sell off a company just to raise it. Besides, if we’re talking about the future of the group, 700 billion is actually a rather small amount.”
“Exactly. That’s my point. When groups talk about their future, they usually talk about investing trillions over several years. The Chairman himself said it was a new source of revenue that could bring in hundreds of trillions. But now, they’re saying they need to sell Biologics just to raise some cash? For just 700 billion? It doesn’t add up.”
Park Jin-hyuk kept pacing the spacious living room.
“And remember, he said to me that they could ‘scatter 700 billion into the air.’ Why use that phrase—‘scatter into the air’? In a normal transaction, you hand over the company and get money in return, so why would he say ‘scatter into the air’? It sounded like a slip of the tongue, but it’s been stuck in my head ever since. There must be a reason he said it that way.”
Park Jin-hyuk finished speaking and looked at Kim Jun-woo.
Kim Jun-woo, hearing this for the first time, didn’t know how to respond.
But there was no mistaking that something was off.
“There could be some kind of deal going on. With Hansung Group, perhaps. Or… maybe Cheongwoo made a deal to hand Biologics over to Hansung under certain conditions… Like a three-way trade in baseball or other sports.”
“Ah…!”
Kim Jun-woo’s eyes widened in surprise, and an exclamation escaped his lips.
He hadn’t even considered that possibility, and it felt like a light had switched on in his mind.
“I’d overlooked that. I was just thinking of it as a simple transaction between Hansung and DS, but there’s Cheongwoo as well.”
“And there’s one more—Daegwang. I don’t know how far the connections go yet. But look into it. In the end, wars are won by information. The more intel we have, the better our chances. Gather as much as you can. In fact, while you’re at it, set up a team under you just to handle information gathering.”
“You want me to put together a team under me?”
“Right. Let’s make it part of the secretary’s office. You’ll be the head, and the only thing I want you to focus on is scraping up every bit of information possible.”
“The headquarters already has an information team of its own. If we create a new one, they might not take it well.”
Kim Jun-woo voiced his concern, worried about what Secretary Hwang or even Park Jin-man might say if they found out later.
But Park Jin-hyuk reassured him.
“If you’re afraid of maggots, you’ll never make kimchi, right? Let’s worry about what they say after it’s all over. For now, gathering information and responding properly is more important. Don’t worry, just do it. And you understood what I said earlier, right?”
“Yes, I understand. I’ve been collecting information too narrowly. I’ll dig a little deeper as you suggested, Director.”
“Good. That’s what I want. We’ll move forward step by step, gathering information as we go. And for now, I’ll play along with what they want, just as planned.”
Park Jin-hyuk, who had been weighed down with fatigue just a moment ago, now felt refreshed, the adrenaline flowing from the crown of his head.
Much as he didn’t want to admit it, he realized that workaholism had seeped into his body.
With his arms folded, Park Jin-hyuk looked out the living room window at the brightly lit Jamsil Sports Complex.
After a few days of sweet rest, it was right back to a grueling schedule.
Today, as always, began with a meeting with the executives, including President Kyung Dae-yong.
“DS Pharmaceuticals is here to develop and sell medicine. We shouldn’t keep looking to other fields.”
“Shouldn’t we first focus on doing what we’re already good at before branching out? If we get too deeply involved in side projects, we risk losing sight of our true purpose.”
At the DS Pharmaceuticals executive meeting, concerns were raised about focusing too much on Biologics.
Park Jin-hyuk listened quietly, then glanced at President Kyung.
Kyung Dae-yong caught his eye and, as chair of the meeting, tried to quell the others’ dissatisfaction.
“We’re not neglecting new drug development. Today’s meeting is about the results from San Francisco and discussing our future direction. Let’s save the details for another time.”
The executives, faces full of discontent, rose and left the room.
They looked at President Kyung with expressions of disappointment, as if he were a traitor or turncoat.
Once the other executives had left, only Kyung Dae-yong and Park Jin-hyuk remained.
“Did you commit treason, Mr. President? The other executives didn’t look too happy.”
“Please understand. It’s only natural for them to resist when their work is about to change.”
“Now I see why you weren’t able to focus on biosimilars and CMO, even though you planned to. The resistance must have been intense.”
“Well… That’s true.”
Kyung Dae-yong gave a slight smile and bowed his head.
He didn’t openly admit it, but his demeanor alone made it clear what kind of pushback he’d been facing.
“Don’t give up now, not when you’re working with me.”
“Director, I can’t neglect new drug development. If a pharmaceutical company gives up on new drugs, it’s just a manufacturer.”
“I know. I’ve already thought about that. But let’s first focus on overcoming the immediate challenges, and then move on to that.”
“By immediate challenges, you mean because of Biologics? Things are going well with Novo. Pfizer has also said they’ll proceed with production after confirming Novo’s pilot run. We’re planning to ramp up utilization to 60% in as little as two months, or by the end of summer at the latest.”
“That won’t do.”
Park Jin-hyuk quietly explained the plan to sell Biologics.
Kyung Dae-yong was shocked by what he heard.
“Sell Biologics? Are they really giving up on DS Pharmaceuticals?”
“Not giving up entirely, but it seems DS Pharmaceuticals is being left out of the group’s future direction.”
“Whew… What are we going to do?”
Having spent his life in the bioindustry, Kyung Dae-yong felt utterly deflated by Park Jin-hyuk’s words.
All his plans to grow DS Pharmaceuticals through Biologics now seemed for nothing.
Seeing how downcast Kyung Dae-yong looked, Park Jin-hyuk laughed.
“Even if the Chairman lets go and the group moves in a different direction, I’m not giving up. You’ll join me, right?”
Unbidden, tears welled up in Kyung Dae-yong’s eyes at Park Jin-hyuk’s words.
It was like being tossed a lifeline while drowning—he saw a glimmer of hope.
Kyung Dae-yong nodded vigorously.
“Yes, just give the word. I’ll devote myself wholly to your cause, Director.”
Kyung Dae-yong was now truly determined to become one of Park Jin-hyuk’s wings.
Seeing this look of solemn resolve, Park Jin-hyuk laughed.
“I just want to move our plans up a bit faster.”
“By faster, do you mean running the Biologics plant even if it’s not profitable yet?”
“That’s right. We need to visibly increase the plant’s utilization rate. Then, we can bring up the sale again.”
“We’ll need something concrete to do right away…”
Kyung Dae-yong stroked his chin, lowering his head in thought.
Then, as if recalling something, he looked up at Park Jin-hyuk and spoke.
“Actually, when we sent out our company profile from San Francisco, we got some responses.”
“Really? Why didn’t I hear about this?”
“They were so unreasonable, I doubt they were reported up to you, Director. Even I scolded them for being ridiculous. President Sa probably thought it was too much to bother you with.”
“What were they?”
At Park Jin-hyuk’s question, Kyung Dae-yong looked up at the ceiling, searching his memory, and began speaking slowly.
“One was similar to Novo’s offer. But unlike Novo, which is already in Phase 3, they wanted to start from Phase 2. The terms were…”
“No, that’s out of the question, no matter how good the offer. Next?”
“Yes, I agree. The second was a proposal for joint development from scratch with us…”
“That’s even worse. No to that as well. Anything else? Something we can start right away?”
Kyung Dae-yong hesitated, then gave an awkward smile.
“There is one more. But…”
“What’s the problem with it?”
“The other executives will hate it. Honestly, you might hate it too, Director.”
“Just tell me. What is it?”
Park Jin-hyuk straightened up, eager to hear Kyung Dae-yong’s next words.
Kyung Dae-yong knew the first two proposals would be rejected, but had still brought them up just in case.
That he was hesitating even before mentioning this one made Park Jin-hyuk think it must be an especially unpleasant offer.
Sure enough, Kyung Dae-yong began to describe the proposal with a bitter expression.
“A pharmaceutical company in Switzerland called Rohasch…”
“I know Rohasch. They’re a global player, aren’t they? On par with Pfizer. What’s the issue? Just tell me, I’m getting impatient.”
“Yes, sir. They proposed that we halt development of our current biosimilar, Truxima, in exchange for producing their influenza treatment, Pitaflu.”
“They want us to stop developing Truxima and instead produce Pitaflu?”
Park Jin-hyuk folded his arms and looked at Kyung Dae-yong.
Honestly, he had no idea what Truxima or Pitaflu were.
He decided to wait for Kyung Dae-yong’s explanation.
Kyung Dae-yong, worried that Park Jin-hyuk might be angry, studied his expression before continuing slowly.
“Truxima is a drug produced by Rohasch for treating rheumatoid arthritis and blood cancers. In Europe, it brings in annual sales of around 1 to 1.2 trillion won, and if we succeed in developing our biosimilar, the expected revenue is about 300 billion won per year.”
“A drug with expected annual sales of 300 billion?”
“Yes.”
“Hmmm…”
Park Jin-hyuk now understood why Kyung Dae-yong had dismissed the proposal out of hand.
If Truxima was expected to bring in 300 billion a year, it was not something to give up lightly.
But at the same time, he couldn’t help but wonder.
‘When making a proposal, there’s usually some kind of balance…’
Now, Park Jin-hyuk’s interest was piqued by the offer of Pitaflu in exchange for giving up on a biosimilar with 300 billion in expected annual sales.
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Hmm Rohasch? Like Roche Pharmaceuticals?