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

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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

2015 | Business & Finance

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.



Published by Peter Lang AG

Edition Unknown
ISBN 9783631663813
Language N/A

Images And Data Courtesy Of: Peter Lang AG.
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