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題名 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
作者 林芮珊
Lin, Sandy
貢獻者 吳文傑
Wu, Jack
林芮珊
Lin, Sandy
關鍵詞 併購
日期 2008
上傳時間 14-Sep-2009 09:50:21 (UTC+8)
摘要 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
參考文獻 1. Patrick A. Gaughan, Mergers (2002), Acquisitions and Corporate Restructuring 3rd Edition: Wiley M&A Library, p.23-55
2. Jemison, D. B. & Sitkin, S.B. (1986), Corporate Acquisitions, A process perspective: Academy of Management Review, 11, p.145-163
3. Judelson, D. N. (1969) The Conglomerate – Corporate Form of the Future: Harvard Business Review p.8-12
4. Harold Geneen (1984), Managing: Doubleday
5. Goold, M., & Quinn, J. B. (1990) Strategic Control: Hutchinson & Economist Publication
6. Jensen, M. C. (1989), The Eclipse of Public Corporation: Harvard Business Review p.61-74
7. Goold, M., & Luchs, K. (1993) Why Diversify? Four Decades of Management Thinking: Academy of Management Thinking 7(3), p.7-25
8. Sikora, M. (1995), The Winding Trail: A 30 Years M&A Profile Dynamism: Mergers & Acquisitions p.45-50
9. Shleifer, A., & Vishny R. W. (1994), Takeovers in the 1960s & 1980s: Evidence & Implications: Harvard Business School Press
10. Sikora, M. (1997), Why the M&A Boom Isn’t Dying Down: Mergers & Acquisitions p.5-7
11. Watson, R. Jr. (2000), What to Do Merge, Diversify What to Do Expand and Liquidate: The Cornell Hotel & Administration Quarterly, 1: p.14-21
12. Institute of Mergers, Acquisitions and Alliances (MANDA): http://www.imaa-institute.org/en/index.php
13. Med Ad News: http://www.pharmalive.com/magazines/medad/?date=09%2F2007
14. PBM Highlights: http://www.okcu.edu/economics/ASSIGN/JWILLNER/5203/Articles/DrugsCompaniesMergerDeMerger.pdf
15. Oligopoly Watch: http://www.badfaithinsurance.org/reference/GMCOPBM/0011a.htm
16. http:www.contractpharma.com
17. Stephen P. Bradley, Matthew Sandoval (2000), The Drug Wars: Pfizer’s Hostile Bid for Warner-Lamber in 1999: Harvard Business Review
18. Pfizer Website: http://www.pfizer.com/home/
19. GSK Website: http://www.gsk.com
20. Bayer Website: http://www.bayer.com
21. Bayer Schering Pharma Website: http://www.bayerscheringpharma.de/scripts/pages/de/index.php
22. http://www.investopedia.com/university/mergers/mergers1.asp
23. http://www.wikipedia.com
24. http://www.answers.com
描述 碩士
國立政治大學
國際經營管理碩士班(IMBA)
95933022
97
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0095933022
資料類型 thesis
dc.contributor.advisor 吳文傑zh_TW
dc.contributor.advisor Wu, Jacken_US
dc.contributor.author (Authors) 林芮珊zh_TW
dc.contributor.author (Authors) Lin, Sandyen_US
dc.creator (作者) 林芮珊zh_TW
dc.creator (作者) Lin, Sandyen_US
dc.date (日期) 2008en_US
dc.date.accessioned 14-Sep-2009 09:50:21 (UTC+8)-
dc.date.available 14-Sep-2009 09:50:21 (UTC+8)-
dc.date.issued (上傳時間) 14-Sep-2009 09:50:21 (UTC+8)-
dc.identifier (Other Identifiers) G0095933022en_US
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/31347-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 國際經營管理碩士班(IMBA)zh_TW
dc.description (描述) 95933022zh_TW
dc.description (描述) 97zh_TW
dc.description.abstract (摘要) 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zh_TW
dc.description.abstract (摘要) 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.
en_US
dc.description.abstract (摘要) 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
-
dc.description.tableofcontents 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
zh_TW
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0095933022en_US
dc.subject (關鍵詞) 併購zh_TW
dc.title (題名) 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zh_TW
dc.title (題名) A study of M&A trends and effects on global pharmaceutical industry: using bayer schering pharma as a modelen_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 1. Patrick A. Gaughan, Mergers (2002), Acquisitions and Corporate Restructuring 3rd Edition: Wiley M&A Library, p.23-55zh_TW
dc.relation.reference (參考文獻) 2. Jemison, D. B. & Sitkin, S.B. (1986), Corporate Acquisitions, A process perspective: Academy of Management Review, 11, p.145-163zh_TW
dc.relation.reference (參考文獻) 3. Judelson, D. N. (1969) The Conglomerate – Corporate Form of the Future: Harvard Business Review p.8-12zh_TW
dc.relation.reference (參考文獻) 4. Harold Geneen (1984), Managing: Doubledayzh_TW
dc.relation.reference (參考文獻) 5. Goold, M., & Quinn, J. B. (1990) Strategic Control: Hutchinson & Economist Publicationzh_TW
dc.relation.reference (參考文獻) 6. Jensen, M. C. (1989), The Eclipse of Public Corporation: Harvard Business Review p.61-74zh_TW
dc.relation.reference (參考文獻) 7. Goold, M., & Luchs, K. (1993) Why Diversify? Four Decades of Management Thinking: Academy of Management Thinking 7(3), p.7-25zh_TW
dc.relation.reference (參考文獻) 8. Sikora, M. (1995), The Winding Trail: A 30 Years M&A Profile Dynamism: Mergers & Acquisitions p.45-50zh_TW
dc.relation.reference (參考文獻) 9. Shleifer, A., & Vishny R. W. (1994), Takeovers in the 1960s & 1980s: Evidence & Implications: Harvard Business School Presszh_TW
dc.relation.reference (參考文獻) 10. Sikora, M. (1997), Why the M&A Boom Isn’t Dying Down: Mergers & Acquisitions p.5-7zh_TW
dc.relation.reference (參考文獻) 11. Watson, R. Jr. (2000), What to Do Merge, Diversify What to Do Expand and Liquidate: The Cornell Hotel & Administration Quarterly, 1: p.14-21zh_TW
dc.relation.reference (參考文獻) 12. Institute of Mergers, Acquisitions and Alliances (MANDA): http://www.imaa-institute.org/en/index.phpzh_TW
dc.relation.reference (參考文獻) 13. Med Ad News: http://www.pharmalive.com/magazines/medad/?date=09%2F2007zh_TW
dc.relation.reference (參考文獻) 14. PBM Highlights: http://www.okcu.edu/economics/ASSIGN/JWILLNER/5203/Articles/DrugsCompaniesMergerDeMerger.pdfzh_TW
dc.relation.reference (參考文獻) 15. Oligopoly Watch: http://www.badfaithinsurance.org/reference/GMCOPBM/0011a.htmzh_TW
dc.relation.reference (參考文獻) 16. http:www.contractpharma.comzh_TW
dc.relation.reference (參考文獻) 17. Stephen P. Bradley, Matthew Sandoval (2000), The Drug Wars: Pfizer’s Hostile Bid for Warner-Lamber in 1999: Harvard Business Reviewzh_TW
dc.relation.reference (參考文獻) 18. Pfizer Website: http://www.pfizer.com/home/zh_TW
dc.relation.reference (參考文獻) 19. GSK Website: http://www.gsk.comzh_TW
dc.relation.reference (參考文獻) 20. Bayer Website: http://www.bayer.comzh_TW
dc.relation.reference (參考文獻) 21. Bayer Schering Pharma Website: http://www.bayerscheringpharma.de/scripts/pages/de/index.phpzh_TW
dc.relation.reference (參考文獻) 22. http://www.investopedia.com/university/mergers/mergers1.aspzh_TW
dc.relation.reference (參考文獻) 23. http://www.wikipedia.comzh_TW
dc.relation.reference (參考文獻) 24. http://www.answers.comzh_TW