دورية أكاديمية
Critical analysis of valuation and strategical orientation of merger and acquisition deals in the pharmaceutical industry
| العنوان: | Critical analysis of valuation and strategical orientation of merger and acquisition deals in the pharmaceutical industry |
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| المؤلفون: | Dierks, Raphaela Marie Louisa, Bruyère, Olivier, Reginster, Jean-Yves |
| المصدر: | Expert Review of Pharmacoeconomics and Outcomes Research, 18 (2), 147-60 (2018) |
| بيانات النشر: | Taylor & Francis, 2018. |
| سنة النشر: | 2018 |
| مصطلحات موضوعية: | Pharmaceutical industry;, drug pipeline, inorganic growth, medical innovation, merger and acquisitions (M&A), non-core assets, tax inversion, valuation, Human health sciences, Public health, health care sciences & services, Sciences de la santé humaine, Santé publique, services médicaux & soins de santé |
| الوصف: | Introduction: The pharmaceutical industry is undergoing major shifts due to changing macro and micro factors. As the industry is highly capital intensive and patents are expiring, the outlook is on generating inorganic growth, mainly through M&A. Using the income valuation approach, one analyses two completed deals in 2016 above 1bn USD. Thereafter one outlines the main motives behind M&A deals and concluded by discussing whether M&A harms medical innovations.Areas covered: The paper is based on empirical study questioning existing literature in order to critically analyse valuation and the strategical orientation of pharmaceutical companiesExpert commentary: Pharmaceutical companies understand the changing market conditions and favour their expertise. The restructuring of the industry moves to small niche companies (I.e. Biopharma or biotech companies) researching key innovations and big companies purchasing them to develop them, create clinical trials and distribute them as this is a costly mannerConclusion: One can expect more M&A deals during the next years focusing on value rather than volume. Pharmaceutical players resilient to the market changes may survive if they change their business model from a traditional vertical one to outsourcing and diversification including external players. |
| نوع الوثيقة: | journal article http://purl.org/coar/resource_type/c_6501 article |
| اللغة: | English |
| Relation: | http://www.tandfonline.com/doi/abs/10.1080/14737167.2018.1417040; urn:issn:1473-7167; urn:issn:1744-8379 |
| DOI: | 10.1080/14737167.2018.1417040 |
| URL الوصول: | https://orbi.uliege.be/handle/2268/219703 |
| حقوق: | open access http://purl.org/coar/access_right/c_abf2 info:eu-repo/semantics/openAccess |
| رقم الأكسشن: | edsorb.219703 |
| قاعدة البيانات: | ORBi |
| DOI: | 10.1080/14737167.2018.1417040 |
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