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
ISBN:
978-3-631-66381-3
Verlag:
Peter Lang GmbH, Internationaler Verlag der Wissenschaften
Land des Verlags:
Deutschland
Erscheinungsdatum:
28.09.2015
Autoren:
Bearbeiter:
Reihe:
Corporate Finance and Governance
Format:
Hardcover
Seitenanzahl:
201
Ladenpreis
69,65EUR (inkl. MwSt. zzgl. Versand)
Lieferung in 5-10 Werktagen Versandkostenfrei ab 40 Euro in Österreich
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.
Biografische Anmerkung
Heiko Schön studied international business administration at Wiesbaden Business School. He was scholar of the German National Merit Foundation (sdw), he owns an Executive MBA from the University of Münster and earned his PhD at the University of Darmstadt. He brings in 10 years of experience in the pharmaceutical and chemical industry.