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After her husband dies of a heart attack, when running in the Dublin marathon; and DalPhaLon (Dalstein Pharmaceuticals London) fails to get EMA (European Medicines Agency) approval for a new drug, Dr. Dara FitzDarkstihl is made redundant. Dara decides to pool her resources and start a company, PRANTAXIS, to secure the future of her family.
SYNOPSIS:
Dara FitzDarkstihl and her team meet in her office. The discussion is conducted via reference to documents and a large screen display of power point slides. It is mentioned that it would be a good idea to wait until the results from an ongoing test can be added to the data. The data looks okay for the tests so far. One of the team points out that there is a lot of variation due to side effects. This reduces the degree to which any benefit can be claimed, over what the competition offers already. Dara FitzDarkstihl concurs with the observations.
Gregory Dalstein, the MD of DalPhaLon, arrives and takes note of the results. He decides that an EMA application ought to be pursued. Dara FitzDarkstihl says that the results are barely above a claim that is marginal, to say the least. She and a couple of others of her team say to Gregory Dalstein that an improvement to the variation of the side effects of the drug, would give a much better result. That would improve the results without any work on the basic properties of the drug. Gregory Dalstein agrees, as a matter of principle. But they would need to spend more money for the extra work tests. There is also a matter of the time that it would take, in addition to the tests that have yet to report their results. Which may be more positive. The competition to DalPhaLon is busy, too. It would be bad for DalPhaLon if they failed to be first to market. The shareholders have been led to expect a good result for the next quarter, and will be unhappy if they are told otherwise. Gregory Dalstein is keen to hear from the naysayers They hold to the same argument as Dara.
Some feel that it is worth the risk, since an EMA application is not a one-shot deal. Those who agree with Gregory, point out that it's as good as gets for now. They ought to proceed with what they have, and make use of feedback from the EMA, for the next time. It could take another year to get significantly further. Dara FitzDarkstihl still feels that her position is the best, but she won't hinder the application process. Her chief fear is that the rush to be first to market, may simply be, to be the first of the failures. This would not be good for DalPhaLon's reputation.
Dara FitzDarkstihl holds a conference with representatives of the EMA They take their time to consider a similar presentation to that held for the team meeting. They discuss the results of the tests that been conducted. The EMA feel that DalPhaLon are premature. It would be better to wait for the results of the tests to be completed. It seems that the side effects are the biggest problem that may be resolved via a more refined version of the drug. Dara FitzDarkstihl says that the tests are almost complete, but it is the analysis that is taking the time. The EMA advises caution, but will not refuse to examine the application. Even so, they don't want to be getting into a round of applications that seek to simply wear down the opposition to market, that is the EMA.
With the application process begun, the team get the data organized. There is a lot of it. They expect to working over a few weekends, to get it all done in time.
Dara FitzDarkstihl's husband, Brendan, informs Dara that he will be taking part in the Dublin marathon. He plans to meet with his bankers, in Dublin, the day before. They're getting anxious and are being out under pressure by the Irish government about properties that may have to be included in the NAMA process. Dara wishes Brendan good luck. For his meeting with the bank. And for his marathon run, for which he is sponsored for a charity. Because she has to work that weekend, to get the EMA application wrapped up, she'll have to give it a miss. Anyway, Allana and Victor can go, to lend support.
Dara FitzDarkstihl work away at the application. It gets to the afternoon. It becomes late afternoon. One of the team, Joyce Morgen, goes for a rest break. She flips on the news. There is an item about the Dublin marathon. Joyce, in a hurry, returns to the meeting room. She has a quiet word with Dara. She tells Dara that she ought take a look at the news. Contact the organizers of the Dublin marathon. Dara hurries away. The team continue the application without Dara.
Gregory Dalstein arrives to check on progress. He stays to supervise. Dara takes a flight to Dublin. She is met by Allana, Victor and their uncle, Christy FitzDarkstihl. Dara looks worried. Allana and Victor are very upset. Dara is told that Brendan has died of his heart attack. Dara FitzDarkstihl and Victor and Allana, etc., attend Brendan's funeral. There are many mourners at the service that is held to the north of Dublin. Among the mourners is NYC investment banker, Richard Farnsworth. Gregory Dalstein is now the team leader. The application goes forward. Progress is made. Joyce says that she sent a wreath. Gregory says that he also sent one. It's a sad time.
One of the team, Peter Kelly, expresses the opinion that the application is important. too. Joyce reminds him that sometimes personal affairs have to come first. Gregory Dalstein, says that life is not all about business, all of the time. With the work completed, the application is dispatched to the EMA. The team have a well deserved drink. Gregory Dalstein arranges for a meal.
Some still think that it has been a rush job that ought to have been delayed. Dave Kelly holds out hopes for the next batch of results. Joyce Morgen wants to make their new drug on worth putting on the market, since that's what the future of the business depends on.
The EMA rejects the application. DalPhaLon is advised to do what they had been advised to do. The EMA thinks that they should take at least another six months. In their estimation, the variance in side effects is the most important hurdle to be overcome.
It has been a week since Dara FitzDarkstihl has been at the office. She returns to a warm welcome from Joyce Morgen. She has a meeting with Gregory Dalstein who offers his condolences. The tension in the office is obvious. Dave Kelly is especially snarky, but has the decency not to accuse Dara for the failure of the application. Even so, Dara knows that is what he thinks.
Gregory Dalstein has given the matter some thought. He sends a message to Dara, her team mates and some of the sales force. There is to be an important meeting, for the next day. At the meeting, there is a general expression of sympathy for Dara's loss. Some of those in attendance, remain mute on the subject. Such is life.
The meeting commences. It is said that the EMA failure of the application is merely a speed bump on the road to success. There is still time to get things on track, and be first to market. A new round of tests is underway. It is asked how much Dara's absence was a factor. Gregory Dalstein steps in to say that most of the work had been completed, before her unfortunate departure, so it wasn't an issue. Many of Dara's team concur. After all, they have reputations to protect. Gregory Dalstein points out that he stepped in to help finish up. So he shares any responsibility.
From Gregory's perspective, he does feel that the team lacked the coherence that he would have liked to see. Even so, the team did well enough. However, Gregory wonders if it would have gone any better, even if the application had been a little bit stronger, to be more in DalPhaLon's favour.
Gregory Dalstein reports that the share price has taken a hit. The share holders are unimpressed. The smaller ones are particularly unhappy. Among the smaller shareholders, is a cooperative form the start of the company. Not too much in the way of share value. They have a lot of influence that can be a serious nuisance. And although it would make sense to buy them out, to get rid of them, DalPhaLon needs all the cash that it has, to get to the next stage. Gregory Dalstein brings the meeting to a close. He thanks everyone for their attendance. He departs the scene.
The team is to get back to work and chase up the results for the latest tests. They also have to examine the reasons given by the EMA, and think about how to design the next round of test. Time is of the essence.
The obvious plan is to get prepared for another EMA application as quickly as possible. With that in mind, the results of the latest test run are to be looked at for any significant improvement. If none is evident, from a quick examination, most effort is to be applied to the issue of the side effects, so that a clear improvement is possible. Dara gets her team organized.
She speaks with the development team, to make sure that they focus on the most significant problems that relate to reducing the incidence of side effects. Things are on a roll.
Gregory Dalstein arranges a management only meeting It is to take place at a local hotel that they sue for such events. Privacy of importance.
They discuss how to limit the damage to shareholder confidence. One expresses his frustration at the shareholders' lack of support. DalPhaLon is not a betting shop. It is a serious business. It is decided that some of the staff will have to be terminated, as a way to save on costs. The last in are the most expendable, There's a couple who can be pensioned off early. Gregory Dalstein refers to a list of possibilities. Other names are suggested. They finally agree on a hit list. To placate the shareholders it is suggested that it would be a good idea to acquire some new faces. It would display a positive outlook. New blood is rarely a bad idea.
Dara FitzDarkstihl is summoned to a meeting in Gregory Dalstein's office Gregory Dalstein is the only one present. He inquires after her well being. She say that things are going reasonably well. Allana and Victor are coping, and have settled back into school life. The conversation is pleasant in tone. He explains that he and the other management have discussed the way forward. He'll go into greater detail when the others have arrived, in a few minutes. As Gregory finishes with Dara, others of her team arrive.
Joyce Morgen and Dave Kelly are among the arrivals. There is also a couple from sales. The discussion is in much the same tone as it was for Dara. Dave Kelly seems suspicious. But doesn't interrupt the flow.
One of the sales guys, says that he has lined up another job and wanted to take the opportunity to say so. Nothing to do with DalPhaLon, He really likes it there. It's just that his wife has a new job that's too far out of town. Gregory understands, and thanks him for his service to the company.
Joyce Morgen says that she still supports Dara. Gregory concurs. Dave Kelly still looks resentful.
Gregory Dalstein advises them that the company has to let them go. It's simply something that has to be done. New people will be brought in for the technical staff. The sales force will be reduced for the time being. Based on their seniority, etc., severance packages have been arranged.
Except for the one form sales who is leaving anyway. They will be able to stay until it is time for their summer holiday fortnight. This is three weeks time, so they will have some time to look for other employment. HR is on hand to assist, if they want. This will make for a smooth transition and be better for appearances. Suitable references will be provided, and without any criticisms that would be detrimental to their futures.
There are shocked expressions all around. Gregory Dalstein thanks them all for coming, and concludes the meeting.
It is Dara's last day at DalPhaLon. They discuss her future plans about setting up a company called PRANTAXIS. Gregory Dalstein suggests that she pay a visit to P.Z. Piezo, a financial adviser that he knows can be be very helpful.
Dara FitzDarkstihl meets with P.Z. Piezo at his London office, that is situated close to St. Pancras International rail station. She informs him that she is a qualified medical doctor He wonders if she had thought of operating a part time constancy out of Harley Street. he can get he good rates for a constancy room. Since her late husband is from the ROI, and she has related family in the country, P.Z. Piezo reckons that she ought to base PRANTAXIS in the ROI, since that will get around the problems of the BREXIT. The big banks are taking that route. It would also be a good idea, if not the case already, to acquire Irish passports.
Dara FitzDarkstihl investigates the options for the Dublin area. Dublin airport is handy for flights, and the city is very cosmopolitan. It wouldn't be too much of a change form London. Lots of great options, but they are all surprisingly expensive. House prices are high. Office space is also expensive. BREXIT aside, it would make more sense to set up in Surrey or Berkshire.
P.Z. Piezo suggests that Charlestown and the West Ireland (Knock) Airport industrial estate, would be a good choice. This looks to be too way out in the boonies for Dara's liking. No more than Oxford is to London, P.Z, tells her.
Dara FitzDarkstihl spends some time with Google Earh and Streetview, to get an idea of the lie of the land. She looks up house prices for the area, and contacts a few estate agents.
She books a flight and and travels to West Ireland Airport, where she is met by one of the extended family. Dara FitzDarkstihl spends a day looking at potential homes. The prices are all very reasonable in comparison to those in Surrey or Berkshire. The is the option to take out a lease, with a future option to purchase. This seems like a safe choice.
The next day, Dara takes the opportunity to examine a few office spaces, at the West Ireland Airport industrial area. All is as expected, and the noise level from the airport is surprisingly low. She takes note of a couple of options, and discusses the terms with the managers of the site. All simple enough, and consistent with back in London.
Allana and Victor are very unimpressed with this new development, since it is such a sudden change. Dara reminds them that she hadn't expected the double whammy of the sudden change of losing their father and her job, in less than a month. That gives them pause for reflection. Allana and Victor have many plans of their own They have a social life in London. They have friends at school, with whom they don't want to lose direct touch. Facebook and Twitter, are all well and good, but that is far form the real thing. Allana has applied to the LSE. Victor has applied to Manchester. Has Dara any idea how that's now going to work. She hasn't figured that one out, but she's confident that Allana and Victor can spend some quality time looking into the options, of which, the ROI is not deficient.
Victor opens web pages and Google Earth on his computer. Dublin looks reasonable. County Mayo looks as bleak as the Essex marshes. What Dara proposes is akin to relocating to Wuthering Heights.
Dara points out that they will be as close to Dublin, as Oxford is from London. They have plenty of things to do. They will have air access to London, on a reasonable basis. Once they settle in, They have plenty of things to do. It may not look impressive, but they will have access to all of their hi-tech necessities. They will make new friends quickly enough. Dara also points out that it is a reasonable distance to Belfast, which has many things of interest. The new location is close to tourist spots such as the lakes and stately homes. The place has a lot of history that will feel very familiar.
Allana and Victor wonder how that relates to things. Dara tells them that they will have to think about university as a part-time endeavour, to spread the costs. Since they can be both British and Irish, via their passports, they will be able to use the heavily subsidized university system in Northern Ireland. She has looked into this, but they can investigate further.
Allana is unhappy, but realises that her choices are not hers to make. She wonders if there is someone to consult.
Dara says that she will look into that. She thinks that P.Z. Piezo might be able to help. Victor accepts that things have to radically change. He says that he will have a chat with uncle Christy. Dara thinks that is a good idea, since Victor and Christy share an interest in RestoModding classic cars.
After a week of a cooling off period, in which Allana and Victor conduct some research, and consult with Ryan Emo, who was recommended by P.Z. Piezo, the FitzDarkstihl family take a trip to Charlestown, to look at some options for a new home. Victor is interested in the one with a large outbuilding that ought to make a good garage and workshop. Allana lies it too, as it will give her something to express her hobby of interior design. Something that the house needs, to make it more modern in appearance.
It is fairly modest two story property, with a large garden, and fields at the back. The house sits by itself. The exterior needs a fresh coat of paint, and the roof will need the moss removed. Ditto for the tramac of the drive, which the seller has agreed to take care of.
With a degree of harmony in place, Dara contacts P.Z. Piezo. She instructs him to close the sale. A lease was possible. But it would cost as much as mortgage, and just as hard to pass on.
Dara decides on the unit at the West Ireland Airport. And makes arrangements with a local office supplier to move in some furniture. The IT requirement is simple enough. Only a broadband connection has to be arranged for both her new office and the new house.
Office furniture and other paraphernalia arrive at the unit. Dara oversees the installation. The sign contractor fits the PRANTAXIS sign over the main door. Dara is ready for business.