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Mergers, Acquisitions, and Alliances

dc.contributor.author Grabowski, Henry G
dc.contributor.author Kyle, Margaret
dc.date.accessioned 2013-05-13T17:34:30Z
dc.date.issued 2012-09-18
dc.identifier.isbn 9780199968749
dc.identifier.uri http://hdl.handle.net/10161/7343
dc.description.abstract © 2012 by Oxford University Press. All rights reserved.This article considers the determinants and effects of M&As in the pharmaceutical industry, with a particular focus on innovation and R&D productivity. As is the case in other industries, mergers in the pharmaceutical field are driven by a variety of company motives and conditions. These include defensive responses to industry shocks as well as more proactive rationales, such as economies of scale and scope, access to new technologies, and expansion to new markets. It is important to take account of firms' characteristics and motivations in evaluating merger performance, rather than using a broad aggregate brushstroke. Research to date on pharmaceuticals suggests considerable variation in both motivation and outcomes. From an antitrust policy standpoint, the larger horizontal mergers in pharmaceuticals have run into few challenges from regulatory authorities in the United States and the European Union, given the option to spin off competing therapeutic products to other drug firms.
dc.relation.ispartof The Oxford Handbook of the Economics of the Biopharmaceutical Industry
dc.relation.isversionof 10.1093/oxfordhb/9780199742998.013.0018
dc.title Mergers, Acquisitions, and Alliances
dc.type Book section
pubs.organisational-group Duke
pubs.organisational-group Economics
pubs.organisational-group Trinity College of Arts & Sciences
pubs.publication-status Published


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