Mergers in the Pharmaceutical Industry - The Impacts of Mergers on R&D Activities of Large Pharmaceutical Companies
Sammanfattning: The pharmaceutical industry is characterized by many industry-specificconditions that differentiate pharmaceutical firms from other industries. Theseconditions have motivated large pharmaceutical companies to merge with oracquire other companies in order to develop their capabilities. However,several industry experts and studies show that such strategies have hadnegative impacts on the R&D activities of firms and their abilities to meet theperpetual need for pharmaceutical products that society demands.The purpose of this report is to develop a deeper understanding into howmergers have impacted Research & Development units of large pharmaceuticalcompanies. Previous studies have been conducted with similar purposes yetfrom a quantitative perspective. This study will aim to supplement such studiesusing a qualitative perspective in order to see if there are variables outsidethose used in previous studies that are significant to the subject matter.A qualitative approach is used to meet the purpose of the study. Primary datahas been produced from two perspectives through interviews with industryexperts and secondary data has been collected to solidify the analysis in theform of theoretical framework, references to empirical sources, and composedto case studies of recent mergers.Having compared the empirical research to primary data and recent casestudies, the authors of this report have found that there is little evidence incongruence between the subjective views of various industry experts.Furthermore, the qualitative approach to a problem well documented andconcluded by quantitative studies has questioned the variables and parametersused in these studies. The majority of experts see mergers as necessary tool aspharmaceutical companies transition adapt to the contemporary expectations ofthe modern industry.
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