Pharma M&A versus alliances and its underlying value drivers
Are M&A or alliances the right therapy for an ailing pharmaceutical industry?- A capital market perspective
Business & Finance, Economics, Economic History, Management & Leadership, Planning & Forecasting, Leadership
| Author: | Heiko Schön | ISBN: | 9783653965841 |
| Publisher: | Peter Lang | Publication: | September 25, 2015 |
| Imprint: | Peter Lang GmbH, Internationaler Verlag der Wissenschaften | Language: | English |
| Author: | Heiko Schön |
| ISBN: | 9783653965841 |
| Publisher: | Peter Lang |
| Publication: | September 25, 2015 |
| Imprint: | Peter Lang GmbH, Internationaler Verlag der Wissenschaften |
| Language: | English |
From a capital market perspective, the author analyzes Merger and Acquisitions transactions (M&A) and in-licensings in the pharmaceutical industry between 1998 and 2012. Utilizing the event study methodology, the volume shows that M&A experiences significant, negative cumulative average abnormal returns whereas in-licensings are able to create value. But what are the underlying value drivers which make a deal a success or a failure story? The author derives significant innovative determinants of success for both strategies.
From a capital market perspective, the author analyzes Merger and Acquisitions transactions (M&A) and in-licensings in the pharmaceutical industry between 1998 and 2012. Utilizing the event study methodology, the volume shows that M&A experiences significant, negative cumulative average abnormal returns whereas in-licensings are able to create value. But what are the underlying value drivers which make a deal a success or a failure story? The author derives significant innovative determinants of success for both strategies.
