In a beachside villa somewhere on the northeastern coast of cuba, an octagenarian revolutionary turns on CNBC and has a good laugh to himself. His stock portfolio isn't traded on the NYSE, or the LSE - it hasn't even listed yet. But, when it does, it will soar.
For the past 10-15 years, Fidel Castro has invested over $1bn into a burgeoning national biotechnology industry. Cuban scientists have already developed a couple of dozen products, including monoclonal antibodies, streptokinase--a drug used to break up blood clots--and the world's only available vaccine against meningitis B, and under development are cancer vaccines and other compounds that would be considered cutting-edge in U.S. labs. In order to secure intellectual property rights, they have patented a whole host of drugs and treatments in the US through Canadian shell companies, set up with the help of the Canadian government. Once the long-standing and oft-criticised trade embargo is lifted by the US government, these drugs can go in front of the FDA for approval. No matter how tough the economic environment, people will buy the drugs to make them better. The US will make Cuba bigger than Pfizer.
Karl Marx's ultimate last laugh, and Fidel Castro's legacy to the Cuban people. Irony at its best.
MNG
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