本研究主旨在於個案討論Waters(美商沃特斯國際股份有限公司，以下簡稱Waters)併購Wyatt(懷雅特公司，以下簡稱Wyatt)後在台灣的定位與銷售策略。隨著大分子生物製藥市場的成長快速，大分子藥物的品質分析方案也越來越重要。Waters 的併購行為不僅是對技術的整合，也是對市場資源的重組。首先，併購後，Waters 能夠提供更全面的產品組合，包括高效液相色譜、質譜和專注於大分子的分析工具，特別適用於生物醫藥領域。其次，預期該併購將加強客戶支持和服務，提升市場競爭力，並吸引更多生物製藥公司選擇 Waters 的解決方案。再次，透過技術創新和研發資源的共享，Waters 有望推出更具前瞻性的分析儀器，促進台灣市場的技術進步。最後，研究還指出潛在的挑戰，包括市場反應、整合過程中的文化差異以及競爭對手的反應。綜合來看，Waters 併購 Wyatt 將對台灣分析儀器市場帶來持續的影響，推動行業向更高效、更專業化的方向發展。但由於此方案價格高昂，大分子藥物研發成本高昂，在台灣市場接受度勢必有一定的困難性，故在此篇討論其定位及未來銷售策略

The purpose of this study is to discuss the positioning and sales strategies of Waters(Waters Technology Corporation) after its acquisition of Wyatt in Taiwan. With the rapid growth of the biopharmaceutical market for large molecules, the quality analysis solutions for large molecules are becoming increasingly important. Waters' acquisition is not only a technical integration but also a reorganization of market resources.

Firstly, after the acquisition, Waters is able to offer a more comprehensive product portfolio, including high-performance liquid chromatography, mass spectrometry, and analytical tools focused on large molecules, which are particularly suitable for the biomedicine field. Secondly, the acquisition is expected to enhance customer support and services, improve market competitiveness, and attract more biopharmaceutical companies to choose Waters' solutions. Furthermore, through technological innovation and shared R&D resources, Waters is expected to launch more forward-looking analytical instruments, promoting technological advancement in the Taiwanese market.

Finally, the study also highlights potential challenges, including market reactions, cultural differences during the integration process, and competitors’ responses. Overall, Waters' acquisition of Wyatt is likely to have a lasting impact on Taiwan's analytical instrument market, driving the industry toward greater efficiency and specialization. However, due to the high costs associated with this solution and the significant expenses of developing large molecule drugs, there will inevitably be challenges regarding market acceptance in Taiwan. Therefore, this study discusses its positioning and future sales strategies.

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1. 周冠男 教授，國立政治大學經營管理碩士學程，<行為財務學>

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