Del 15 - Corporate Finance and Governance
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
Inbunden, Engelska, 2015
739 kr
Skickas inom 5-8 vardagar
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.