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| By: | Heiko Schön |
| Publisher: | Peter Lang |
| Print ISBN: | 9783631663813 |
| eText ISBN: | 9783653965841 |
| Edition: | 1 |
| Copyright: | 2015 |
| Format: | Reflowable |
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Table of Contents
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.