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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, Hardback Book

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 Hardback

Part of the Corporate Finance and Governance series

Hardback

Description

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.

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