"How do you want to bet?" Raymond almost lay on the table.

"First of all, it's the first phase of clinical practice. If you can guarantee time and resources, I guarantee that there must be active substances passing the first phase of clinical practice. Otherwise, I don't want a penny." Yang Rui said one sentence so that everyone in the table was stunned.

Raymond subconsciously picked up a piece of the stomach and chewed it while saying, "Milestone payment method? Yes, but you don't have a penny? Don't have a down payment either?"

A milestone payment method can be said to be a type of payment according to the progress, but it is different from ordinary staged payments. There is no necessary connection between milestones established in advance and comprehensive progress or overall progress.

This method often occurs in international projects. For example, if a railway is built, if it is paid in stages, such as completing one-fifth of the length, although the corresponding payment will be received, the project party still has the responsibility to complete the entire project. Otherwise, it will inevitably suffer a claim and the money you received before will be given back. However, if it is a milestone payment, the project party will not complete the entire project. If the subsequent payment does not want to do it or cannot finish it, just turn around and leave.

Pharmaceutical companies generally pay milestones because no one can guarantee that a drug will be available, let alone sales after it is launched.

Yang Rui was extremely confident and said: "It is up to you to decide that I can give up the down payment, but if the active substance is passed in the first phase of the clinical trial, I will need 20 million US dollars."

"Hehe, brother, slow down." The Italian shouted as if he was suddenly hit by F1: "Buy $20 million in clinical trials to pass? It's a little more expensive."

"There is no down payment for $20 million. Of course, the down payment for $12 million and the clinical first phase milestone of $6 million, I have no problem," Yang Rui shrugged.

After the Italian calculated that it seemed quite cost-effective to exchange the $2 million milestone for a down payment, so he spread his hands and spoke in Italian.

Arnold recovered at this time and said, "The down payment of 12 million is a little more, the down payment of 10 million US dollars, and the milestone of 5 million US dollars, Jelikon is willing to accept it."

Although it was bargaining, it was an Arnold-style showdown.

After all, someone bargaining means establishing a bottom line. Although this bottom line is indeed very low.

However, it was because Yang Rui offered a low price that Arnold bargained and showed goodwill.

During the development of new drugs, preclinical research accounts for about 10% to 15% of the total development cost, usually calculated at 13%.

In the 1980s, the cost of developing a new drug was more than US$100 million, and the cost of developing a pure new drug usually exceeded US$200 million, and a few of them reached US$500 million. Based on such a cost, the work currently completed by Huarui Laboratory should be valued at US$26 million.

However, this is the price of ordinary drugs. As a rare drug, deferrotonin has relatively weak profit prospects. Therefore, Yang Rui has a lower price to be attractive.

Seeing that everyone had no other opinions, Yang Rui nodded and said, "That's it, the Class A gambling agreement has no down payment, and there is an active substance passing, no matter how many types it is, the milestone is 20 million US dollars."

"Class B includes a bet agreement with a down payment of $10 million. Whether the active substance passes, it will be paid $10 million, but if two active substances pass, the milestone is $5 million. Three active substances pass, the milestone is $10 million, and so on. If all seven active substances pass the clinical phase one, it will be an increase of $30 million."

"no!"

"This is too high!" Everyone at the table objected.

The Japanese even stood up and said, "According to this calculation, Class B may have to pay a milestone of US$40 million."

"There are seven active substances in the first phase of clinical practice, and they will get 40 million US dollars, not much, right?" Yang Rui said very calmly.

"Too many, too many." The Japanese shook his head and said, "And there are too many seven active substances."

"No one thinks there are too many active substances. Besides, this is just the first phase of the clinical stage. It's no big deal if you spend more chips and spend more money. Right?" Yang Rui chuckled twice.

"No, we can't bear the cost of growing so quickly." The Japanese kept shook their heads.

Norwegians and Germans also objected to lower the amount of milestones.

Although the chances of all seven active substances passing the first phase of the clinical stage are very low, the gambling itself is a chance of playing, and of course they are unwilling to hang a sword on their heads.

It is also very difficult and unnecessary to commit fraud in clinical trials.

First of all, compared with tens of millions of dollars, it is more important that all seven active substances pass the first phase of clinical experiments. No company will cover up a fraud after a single active substance passes the clinical trial in order to save $5 million.

Secondly, clinical trials are very strict scientific research processes. Although there is inevitably a possibility of cheating, if the agreement is signed appropriately, the full-process monitoring can be basically achieved. Moreover, many large companies subcontract clinical trials to professional third-party companies, which makes the cost of counterfeiting clinical trials higher.

Naifu Aoki from Fujisawa Pharmaceuticals Co., Ltd. considered it for a long time and said: "We are willing to pay an additional $2 million in milestone for every additional active substance passing."

"All seven types pass will give you an extra 12 million? It's only 2 million more than Class A? It's impossible. The milestone of $3 million is not possible." Only Yang Rui knew so many people present, and the seven types must be passed. So he answered very seriously and said: "This is a betting agreement. If you don't like the betting agreement, you can completely renegotiate the overall price. Or choose a Class A milestone, and the risk of US$20 million locking in the first phase of clinical phase."

After a moment of pause, Yang Rui said: "If you choose a Class A milestone and pass, theoretically, you can directly resell deferrosterone to other companies. I think someone will rush to ask for 40 million or 50 million US dollars. If there are many active substances passed, it is possible to double the price, right? This means that if you take 1 million US dollars, you can draw a prize of 20 million US dollars or 40 million US dollars."

The cost of phase I of clinical practice is the cheapest in phase IV, because only a few dozen people need to participate and do safety tests, which can be completed in about $1 million.

Despite this, there are still very few drugs that can pass the first phase of clinical practice and are of great value.

Some companies are willing to buy such drugs to reduce early risks.

Naigo Aoki stopped talking.

As Yang Rui said, although the Class A milestone is expensive, while Yang Rui gets 20 million, it also means that the company that purchases deferrosterone will earn at least US$20 million.

On the contrary, Yang Rui cannot get the money, which is the time when the biggest loss occurs, and the company that purchases deferrotonide will bear a risk of $1 million.

Betting agreements can best reduce costs, and they can eventually sell the risk of betting to other financial companies or insurance institutions. Therefore, as long as the betting price is not too high, large pharmaceutical companies always have profit margins.

Overall purchase is different. The company has to bear the risks themselves, and it is not feasible unless it is extremely cheap.

"The increase in active substances can be divided into more than four types, and less than four types." The two Germans present were young, with a little accent in English and spoke slowly, saying: "I suggest that the B-class milestones can also be divided into two types, and everyone can choose freely. According to Mr. Yang Rui, each additional active substance passes, pay a certain amount of milestones to Huarui Laboratory, BB, I want to bet that more than two types of active substances pass, less than four types."

The four active substances are relatively suitable for the number of clinical trials, which can not only increase the pass rate of clinical trials, but also do not significantly increase the cost of clinical trials.

Of course, active substances are always the best, and this is just a matter of cost performance and probability.

Several people nodded in agreement.

Yang Rui concludes: "There are two types of BA. Each of the more active substances is an increase of 5 million US dollars. If seven types are passed, an additional US$30 million will be paid. BB types have two active substances passed, a milestone of 4 million US dollars, three active substances passed, a milestone of 8 million US dollars, four active substances passed, a milestone of 12 million US dollars, and five types increased milestones of 22 million, six types passed 32 million, and seven types passed, a milestone of 42 million US dollars."

The last number was shocked, but no one objected. It would be better to pass the seven active substances in the first phase of the clinical trial. It would be better to pass the four types, but it is not surprising that there are two or three types of passes. In this way, in the maximum range of passes, if you bet on Category B, two types of passes will reduce the cost of $1 million, three types of passes will reduce the cost of $2 million, and four types of passes will also save $3 million. Of course, five types of passes will increase the expense of $2 million, six types of passes will increase the expense of $7 million, and seven types of passes will increase the amount of $12 million. Although this is not a balanced step-by-step growth, milestones are originally reward-oriented. If all seven types of passes, it can only mean that the deferrosterone produced by Huarui Laboratory is very good and worth making more money.

More importantly, if the seven active substances pass, it means that the company that contributes money will make more money. The easiest way to sell it will have to make at least 40 to 50 million US dollars in profits.

"The specific amount is to be discussed, but we agree with this classification method." Fujisawa Pharmaceutical Industry Co., Ltd.'s High Head Aoki Naifu.

"If Huarui Laboratory cooperates with Jelikon, Jelikon will choose a BA agreement." Arnold couldn't wait to show his goodwill to Yang Rui.

I have to say that the one who is most sincere now is still the Jielikan. The BA-type agreement currently seems to be the most beneficial to Yang Rui.

Raymond, who was also determined to win, noticed the crisis, looked at Arnold deeply, and tried his best to start thinking.

Yang Rui only sighed in his heart.

Although Arnold tried his best to give good conditions, in Yang Rui's view, BB-type agreements are the most profitable agreement.

During the first phase of clinical practice, although unexpected events may occur, resulting in one or even two active substances failing to pass, the probability is really not high. After all, it is a safety experiment with only a few dozen people participating. If the compound is not a problem, it will cause allergic reactions in some people. As long as it is not serious, it can still pass. Drugs that have no allergic reactions are basically non-existent.

Even if Yang Rui really wants to bet with Jielikang, he is more willing to bet with BB type agreements.

On the other hand, Arnold looked like a hero who was slaughtering his neck, which made Yang Rui laugh and cry.

"We'll next..."

"Comrade, have some tea." The owner of the braised restaurant picked up a pot of tea, added a large tea cup in front of Yang Rui, interrupted him, and whispered: "Comrade, it's okay, drink less wine, don't quarrel. If you do this, the neighborhood committee will say it."

He tilted his mouth backwards.

Yang Rui looked back and saw the neighborhood aunt of Hongjiezhang, standing in front of the tofu stall not far away, staring at this side.

Yang Rui was sure that if it weren't for the table being all foreigners, the neighborhood committee aunt would have already rushed over.

"It's okay, we're just chatting." Yang Rui laughed twice.

The owner of the braised restaurant said "Oh" and then reminded him, "Then you guys are quiet." Then he took the tea kettle and went to the tofu stall to report.

Yang Rui saw him walking away, shook his head, took a sip of tea, reorganized his thinking, and continued: "How about a similar classification in the second phase of clinical practice? One milestone of passing is $20 million, with three passes as the midline, each passing one, an increase of $10 million..."

Raymond said slyly: "The budget for phase II of clinical practice is usually 60 million to $100 million. In this way, if two active substances pass the phase II, we will pay you half of the budget."

"If there are two active substances passing the second phase of clinical practice, it is because the ferrosterone active substance I synthesized is excellent, not the best one in your clinical trials." Yang Rui simply said: "Milestones are used to reward and compensate our work, not punishment."

"According to the maximum amount, if the seven compounds pass the clinical phase I. If they adopt BB, we will pay 52 million..."

"If you think there will be seven compounds passing the clinical phase I, you should choose the Class A protocol, which is only $20 million." Yang Rui raised his voice a little.

Several people laughed.

This is the case with the betting agreement. If you bet wrong, you have to spend more money, and if you bet right, you will spend less money.

Raymond shrugged and said, "I just want to say the possible costs."

"Even I dare not think of this possibility." Yang Rui laughed. He was sure that all the seven compounds here have a high probability of passing the first phase of clinical practice, but at most, they can only pass four types. If you are not lucky, there will be only two or even one.

The first phase of clinical and the second phase of clinical are fundamentally different concepts.

"Comrade, are you talking about money just now?" The aunt from the neighborhood committee walked behind Yang Rui at some point.

Yang Rui turned around in surprise and asked, "Did you understand the money?"

The aunt smiled proudly and said, "English is nothing great. There are many people in our alley who know English."

At the entrance of the alley behind her, several red scarves were shaking under the street lights.

Yang Rui praised: "Awesome."

"The most amazing thing is you. You do business with foreigners. What are you selling?" the aunt smiled.

Yang Rui was unwilling to answer and said, "Nothing."
Chapter completed!