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| Title: | 研究全球藥界併購趨勢及其影響力：以拜耳先靈西藥部為例
A study of M&A trends and effects on global pharmaceutical industry: using bayer schering pharma as a model |
| Authors: | 林芮珊
Lin, Sandy |
| Contributors: | 吳文傑
Wu, Jack
林芮珊
Lin, Sandy |
| Keywords: | 併購 |
| Date: | 2008 |
| Issue Date: | 2009-09-14 09:50:21 (UTC+8) |
| Abstract: | 研究全球藥界併購趨勢及其影響力：以拜耳先靈西藥部為例
Abstract
A Study of M&A Trends and Effects on Global Pharmaceutical Industry: Using Bayer Schering Pharma as a Model
By
Sandy, Jui-San Lin
The driving force for me to conduct a case writing related to M&A trends and effects in pharmaceutical industry as my master thesis is because I have been working with a global pharmaceutical subsidiary in Taipei whereby the company had experienced a series of post merger integrations. I was surprised by my research as 3 out of the 9 largest worldwide M&A transactions in 2000s were associated with pharmaceutics. The data is even more shocking as the total M&A value in pharmaceutical industry had contributed to almost 14% of the top transactions from 1990s to present (Table 1.2 & 1.3). I hope by going through the process, I will be able to learn more about the industry as what are the underlying factors and key considerations behind these mergers, how do those consolidated companies benefit from the action and where is the future? In my dissertation, I will first define what M&A action is as in general; present an overview on the global pharmaceutical world as what are the recent developments of M&A activities. Then I will concentrate on Bayer Healthcare and study its integration process with German Schering.
1 Introduction………………………………………….…………..….1
1.1 Defining M&A……………………………….…………..……1
1.2 Synergies…..………………………………….………..……...3
1.3 The Big Waves in M&A...…………………….………..……..4
2 History of Pharma Industry.…………………………………….…12
3 Market Analysis on Pharma Business.………………………….…16
3.1 PEST(Political, Economic, Social and Technological)………16
3.2 Porter Five Forces……………………………………………19
4 Direction in Pharmaceutics Merges.…………………………….…22
4.1 Vertical Waves in 1990s...…………………………………….22
4.2 Horizontal Waves from Early 2000s………………………….25
Case I Pfizer…………………………………………………..26
Case II GSK…………………………………………………..30
5 Background of the Main Case.……….………………………….…35
5.1 History of Bayer...…………………………………………….35
5.2 History of Schering AG……………………………………….40
6 “The merge” for two becoming one….………………………….…42
6.1 The forming of Bayer Schering Pharma…….………………..45
6.2 Local Integration…………………………….………………..48
7 Conclusion …………………………………………………………57
References …………………………………………………………......59 |
| Reference: | 1. Patrick A. Gaughan, Mergers (2002), Acquisitions and Corporate Restructuring 3rd Edition: Wiley M&A Library, p.23-55
2. Jemison, D. B. & Sitkin, S.B. (1986), Corporate Acquisitions, A process perspective: Academy of Management Review, 11, p.145-163
3. Judelson, D. N. (1969) The Conglomerate – Corporate Form of the Future: Harvard Business Review p.8-12
4. Harold Geneen (1984), Managing: Doubleday
5. Goold, M., & Quinn, J. B. (1990) Strategic Control: Hutchinson & Economist Publication
6. Jensen, M. C. (1989), The Eclipse of Public Corporation: Harvard Business Review p.61-74
7. Goold, M., & Luchs, K. (1993) Why Diversify? Four Decades of Management Thinking: Academy of Management Thinking 7(3), p.7-25
8. Sikora, M. (1995), The Winding Trail: A 30 Years M&A Profile Dynamism: Mergers & Acquisitions p.45-50
9. Shleifer, A., & Vishny R. W. (1994), Takeovers in the 1960s & 1980s: Evidence & Implications: Harvard Business School Press
10. Sikora, M. (1997), Why the M&A Boom Isn’t Dying Down: Mergers & Acquisitions p.5-7
11. Watson, R. Jr. (2000), What to Do Merge, Diversify What to Do Expand and Liquidate: The Cornell Hotel & Administration Quarterly, 1: p.14-21
12. Institute of Mergers, Acquisitions and Alliances (MANDA): http://www.imaa-institute.org/en/index.php
13. Med Ad News: http://www.pharmalive.com/magazines/medad/?date=09%2F2007
14. PBM Highlights: http://www.okcu.edu/economics/ASSIGN/JWILLNER/5203/Articles/DrugsCompaniesMergerDeMerger.pdf
15. Oligopoly Watch: http://www.badfaithinsurance.org/reference/GMCOPBM/0011a.htm
16. http:www.contractpharma.com
17. Stephen P. Bradley, Matthew Sandoval (2000), The Drug Wars: Pfizer’s Hostile Bid for Warner-Lamber in 1999: Harvard Business Review
18. Pfizer Website: http://www.pfizer.com/home/
19. GSK Website: http://www.gsk.com
20. Bayer Website: http://www.bayer.com
21. Bayer Schering Pharma Website: http://www.bayerscheringpharma.de/scripts/pages/de/index.php
22. http://www.investopedia.com/university/mergers/mergers1.asp
23. http://www.wikipedia.com
24. http://www.answers.com |
| Description: | 碩士
國立政治大學
國際經營管理碩士班(IMBA)
95933022
97 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0095933022 |
| Data Type: | thesis |
| Appears in Collections: | [國際經營管理英語碩士學程IMBA] 學位論文
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