Prescription for Murder
David Williams
Mark Treasure took on the Chairmanship of pharmaceuticals company, Closters, as part of the arrangements for the management buy-out. It had been given a new lease of life after floundering in the highly competitive world of manufacturing and selling drugs. Quite some team! Managing Director Bob Larden had the ambition and the lifestyle to drive the whole enterprise forward. He brought in Dermot Hackle to give the Marketing oomph he needed. Dermot with his good looks, wandering eyes and poor head for finance, particularly his own, and a ‘mouse’ of a wife. Giles Closter-Bennet is the Finance Director, who emphasised his long standing connection to the company by incorporating his wife’s family name into his own. Hugh McFee is Production Director, making sure it all ticks along and neither he nor his wife have forgotten their Scottish heritage.
However, it’s the chemistry of the company that has aroused interest. Divorcee, Dr Mary Racini is Medical Director and Stuart Bodlin, with his long time in the company, has finally come good on the freedom he was given to explore and invent. Seromig is a new drug for the treatment of migraine, which promises major success, and there are other projects in the pipeline. Now is exactly the time to take the company public. Quite a few are looking to make a killing. Rich pickings, just rewards. Not everyone thinks so.
It’s all about the drugs…
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Closters Drug Company has a chequered history. Founded by Albert Closters it was sold to a major conglomerate and from then on went downhill. Finally a management buy-out has brought fresh energy to the organisation and, with the benefit of profits of £5 million from a £20 million turnover, plus what might be a world-beating drug on the horizon, the company is about to be brought to the Stock Market for a public listing. A handsome reward awaits the Directors and, in particular, Bob Larden the Managing Director, for their shares acquired over the past five years.
Mark Treasure was brought in as Chairman, to add substance to the Company and, of course, support from his Bank could only favourably assist the City’s view of Closters and aid the Director’s ambitions. All is set fair for a flotation at £1.10 a share, although the FT thinks this a touch rich. What is not yet known generally – although it was due to have been reported – is the success of trials of Seromig. A major breakthrough, at last, for Stuart Bodlin, the long standing Director of Research, has put Closters ahead of their competitors.
Tell the world
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The Press Conference has been called to promote the flotation, and give pundits and potential investors the opportunity to question the Directors about the prospectus. Only it has been hijacked. Someone has told the press about the new drug and its potential. Now it’s all over the papers – which might help the flotation to be a resounding success! Was that the plan? Now there are serious questions being asked. And there is a serious group who have a point to make.
SAE is not a Stamped Addressed Envelope but a protest group – STOP ANIMAL EXPERIMENTS. Nothing that the Research director says can avoid the fact of animal testing that has to go on to meet the development needs of a new drug. Nor is it a matter that can be brushed under the carpet. Especially later, when one of the directors appears to be unavoidably detained. Detained? No. kidnapped! And there is a ransom to pay. No ordinary ransom. The demand is that the directors sell the shares for which they have worked so hard – letting go the profits made at the expense of defenceless animals. Letting go their share of the millions they have made the company worth.
Cranks, criminals or competitors?
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The kidnappers threaten to emasculate their victim if any one is alerted – no police, no Stock Exchange, no-one! And they will kill the hostage if the demand is not met within the timetable they set. And then start again with other directors, their wives, their children… No end to it. But what exactly will SAE gain from it?
The one thing the City thrives on is confidence. Directors selling entire share holdings directly after flotation sends all the wrong signals. With such uncertainties and doubts surrounding Closters there are bound to be delays in getting approval for the new drug, even if the results from a second set of trials confirm Seromig as a world beater.
Every month of delay lessens the time Seromig will have a clear run at the market, gives competitors the chance to catch up and reduces the time before the patents lapse.
Mark Treasure finds out soon enough that it’s not only his banking business that takes him onto the international arena, so too does the pharmaceutical business. With turnovers of millions of pounds at stake, there are always predators waiting to pick up the pieces or make a killing! Not surprisingly then, a bunch of high fliers, skulduggery, and a chase around Europe all lead to a killing!
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