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
Gebonden EN 2015 9783631663813Samenvatting
This study analyzes 229 M&A and 120 in-licensing deals in the pharmaceutical industry. The author shows from a capital market perspective that M&A experiences significant, negative cumulative average abnormal returns whereas in-licensings are able to create value. Significant determinants of success for both strategies are derived.
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