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| 研究生： |
林芮珊 Lin, Sandy |
|---|---|
| 論文名稱： |
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 |
| 指導教授： |
吳文傑
Wu, Jack |
| 學位類別： |
碩士
Master |
| 系所名稱： |
商學院 - 國際經營管理英語碩士學位學程(IMBA) International MBA Program College of Commerce(IMBA) |
| 論文出版年： | 2009 |
| 畢業學年度： | 97 |
| 語文別： | 英文 |
| 論文頁數： | 59 |
| 中文關鍵詞： | 併購 |
| 相關次數： | 點閱：82 下載：0 |
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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
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