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題名 生技製藥產業併購策略─羅氏集團與基因科技公司個案研究
Strategic merger & acquisition in bio-pharmaceutical industry-Roche and genentech case study
作者 陳潔萱
Chen, Sarah
貢獻者 何小台
Ho, Chester
陳潔萱
Chen, Sarah
關鍵詞 生技製藥
日期 2009
上傳時間 15-Jun-2010 16:24:56 (UTC+8)
摘要 生技製藥產業併購策略
The biotechnology companies started with the development of genetic engineering and antibody production in the U.S. and until today U.S. is still the leader in this industry. In recent years, they are becoming particular interest to established pharmaceutical companies. This thesis will first introduce the characteristic of pharmaceutical industry and its current situations, Next to explain pharmaceutical company’s unique relationship with biotechnology by studying the merger and acquisition case of Roche and Genentech. With the results, we will have better understanding of the business challenge and strategy for the industry.
International MBA Program i
     College of Commerce i
     National Chengchi University i
     A Thesis i
     1. Introduction 1
     1.1. Research Background and Motive 1
     1.2. Research Objective 2
     2. Motivation for Merger and Acquisition 3
     2.1. Value Creation Theory 3
     2.2. The Synergy Creation Theory 3
     2.3. The Disciplinary Takeover Theory 4
     3. Company Background 5
     3.1. The Roche Group 5
     3.1.1. History and Background 5
     3.1.2. Company Structure 6
     3.1.3. Financial Result 8
     3.1.4. Product and Services 9
     3.1.5. Corporate Strategy 10
     3.2. The Genentech Group 11
     3.2.1. History and Background 11
     3.2.2. Company Structure 11
     3.2.3. Financial Result 12
     3.2.4. Product and Services 13
     3.2.5. Corporate Strategy 14
     4. Industry Analysis 16
     4.1. Industry Overview 16
     4.2. Industry Risk 17
     4.2.1. Research & Development Risk 18
     4.2.2. Risk of Substitute Products 22
     4.2.3. Regulation Risk 25
     4.2.4. Product Promotion Risk 26
     4.3. Industry Trend 27
     4.3.1. Cost Saving 27
     4.3.2. More Mergers and Acquisition to Come 28
     4.3.3. Personalized HealthCare 31
     5. Merger Transaction Case Analysis 32
     5.1. Brief History of the First Acquisition in 1990 32
     5.2. Roche Offer to Acquire all Outstanding Shares of Genentech 34
     5.3. The Challenge Ahead 37
     5.3.1. Keeping the Genentech Culture 37
     5.3.2. The New Structure 38
     5.3.3. Why Now 39
     5.3.4. Financial Value Drivers 40
     6. Summary and Conclusion 42
參考文獻 1. Decker, Susan. "Pfizer Wins New Lipitor Patent Expiring in June 2011 (Update2) ". Bloomberg.com. January 6, 2010 <http://www.bloomberg.com>
2. Gassmann, Oliver, Gerrit Reepmeyer, and Maximilian von Zedtwitz. Leading Pharmaceutical Innovation. Berlin Heidelberg: Springer-Verlag, 2008.
3. Grabowski, H.; Vernon, J.; DiMasi, J. “Returns on Research and Development for 1990s New Drug Introductions.” Pharmacoeconomics 20, Dec. 2002: 11-29.
4. Saftlas, Herman. "Industry Surveys Healthcare: Pharmaceuticals". Standard & Poor`s November 27, 2008: 1-38.
5. Roche Financial Report 2008. Basel, Switzerland: F. Hoffmann-La Roche Ltd., 2009.
6. We are Genentech 2008 Annual Report. South San Francisco, CA: Genentech Inc., 2009.
7. "Company Portrait". Roche Global Web Site. December 24, 2009 <http://www.roche.com/about_roche/at_a_glance/company_portrait.htm>.
8. "Company Structure". Roche Global Web Site. December 24, 2009 <http://www.roche.com/about_roche/at_a_glance/company_structure.htm>.
9. "Pharmaceutical R&D". Roche Global Web Site. December 24, 2009 <http://www.roche.com/research_and_development/r_d_overview/pharmaceuticals.htm>.
10. "Corporate Overview Home". Genentech official website. December 24, 2009 <http://www.gene.com/gene/about/corporate/>.
11. "Research Focus Areas". Genentech official website. December 24, 2009 <http://www.gene.com/gene/research/focusareas/>.
12. Huckman, Mike. "Roche-Genentech: As The Deal Turns ". CNBC. January 9, 2010 <http://www.cnbc.com>.
13. Morrill, David. "Roche, Genentech now one". ContraCostaTimes. January 6, 2009 <http://www.contracostatimes.com/business>
14. “Pharmaceutical Research and Manufacturers of America (PhRMA)”, 2007 R&D Report: The pursuit of High Performance through Research and Development, Dec. 26 2009, http://www.phrma.org
15. Pollack, Andrew. "Genentech-Roche Deal May Spur Similar Ties". The New York Times. January 6, 2010 <http://www.nytimes.com/pages/business/index.html>.
16. "Roche Initiates Hostile Takeover Bid for Genentech at US$86.5 per Share". Global Insight. January 9, 2010 <http://www.ihsglobalinsight.com/>
17. Schmit, Julie. "Genentech shares surge on Roche`s $44 billion offer". USA Today. January 6, 2010 <http://www.usatoday.com/money/industries/health>.
描述 碩士
國立政治大學
國際經營管理碩士班(IMBA)
95933007
98
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0959330071
資料類型 thesis
dc.contributor.advisor 何小台zh_TW
dc.contributor.advisor Ho, Chesteren_US
dc.contributor.author (Authors) 陳潔萱zh_TW
dc.contributor.author (Authors) Chen, Sarahen_US
dc.creator (作者) 陳潔萱zh_TW
dc.creator (作者) Chen, Sarahen_US
dc.date (日期) 2009en_US
dc.date.accessioned 15-Jun-2010 16:24:56 (UTC+8)-
dc.date.available 15-Jun-2010 16:24:56 (UTC+8)-
dc.date.issued (上傳時間) 15-Jun-2010 16:24:56 (UTC+8)-
dc.identifier (Other Identifiers) G0959330071en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/38445-
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) 95933007zh_TW
dc.description (描述) 98zh_TW
dc.description.abstract (摘要) 生技製藥產業併購策略zh_TW
dc.description.abstract (摘要) The biotechnology companies started with the development of genetic engineering and antibody production in the U.S. and until today U.S. is still the leader in this industry. In recent years, they are becoming particular interest to established pharmaceutical companies. This thesis will first introduce the characteristic of pharmaceutical industry and its current situations, Next to explain pharmaceutical company’s unique relationship with biotechnology by studying the merger and acquisition case of Roche and Genentech. With the results, we will have better understanding of the business challenge and strategy for the industry.en_US
dc.description.abstract (摘要) International MBA Program i
     College of Commerce i
     National Chengchi University i
     A Thesis i
     1. Introduction 1
     1.1. Research Background and Motive 1
     1.2. Research Objective 2
     2. Motivation for Merger and Acquisition 3
     2.1. Value Creation Theory 3
     2.2. The Synergy Creation Theory 3
     2.3. The Disciplinary Takeover Theory 4
     3. Company Background 5
     3.1. The Roche Group 5
     3.1.1. History and Background 5
     3.1.2. Company Structure 6
     3.1.3. Financial Result 8
     3.1.4. Product and Services 9
     3.1.5. Corporate Strategy 10
     3.2. The Genentech Group 11
     3.2.1. History and Background 11
     3.2.2. Company Structure 11
     3.2.3. Financial Result 12
     3.2.4. Product and Services 13
     3.2.5. Corporate Strategy 14
     4. Industry Analysis 16
     4.1. Industry Overview 16
     4.2. Industry Risk 17
     4.2.1. Research & Development Risk 18
     4.2.2. Risk of Substitute Products 22
     4.2.3. Regulation Risk 25
     4.2.4. Product Promotion Risk 26
     4.3. Industry Trend 27
     4.3.1. Cost Saving 27
     4.3.2. More Mergers and Acquisition to Come 28
     4.3.3. Personalized HealthCare 31
     5. Merger Transaction Case Analysis 32
     5.1. Brief History of the First Acquisition in 1990 32
     5.2. Roche Offer to Acquire all Outstanding Shares of Genentech 34
     5.3. The Challenge Ahead 37
     5.3.1. Keeping the Genentech Culture 37
     5.3.2. The New Structure 38
     5.3.3. Why Now 39
     5.3.4. Financial Value Drivers 40
     6. Summary and Conclusion 42
-
dc.description.tableofcontents International MBA Program i
     College of Commerce i
     National Chengchi University i
     A Thesis i
     1. Introduction 1
     1.1. Research Background and Motive 1
     1.2. Research Objective 2
     2. Motivation for Merger and Acquisition 3
     2.1. Value Creation Theory 3
     2.2. The Synergy Creation Theory 3
     2.3. The Disciplinary Takeover Theory 4
     3. Company Background 5
     3.1. The Roche Group 5
     3.1.1. History and Background 5
     3.1.2. Company Structure 6
     3.1.3. Financial Result 8
     3.1.4. Product and Services 9
     3.1.5. Corporate Strategy 10
     3.2. The Genentech Group 11
     3.2.1. History and Background 11
     3.2.2. Company Structure 11
     3.2.3. Financial Result 12
     3.2.4. Product and Services 13
     3.2.5. Corporate Strategy 14
     4. Industry Analysis 16
     4.1. Industry Overview 16
     4.2. Industry Risk 17
     4.2.1. Research & Development Risk 18
     4.2.2. Risk of Substitute Products 22
     4.2.3. Regulation Risk 25
     4.2.4. Product Promotion Risk 26
     4.3. Industry Trend 27
     4.3.1. Cost Saving 27
     4.3.2. More Mergers and Acquisition to Come 28
     4.3.3. Personalized HealthCare 31
     5. Merger Transaction Case Analysis 32
     5.1. Brief History of the First Acquisition in 1990 32
     5.2. Roche Offer to Acquire all Outstanding Shares of Genentech 34
     5.3. The Challenge Ahead 37
     5.3.1. Keeping the Genentech Culture 37
     5.3.2. The New Structure 38
     5.3.3. Why Now 39
     5.3.4. Financial Value Drivers 40
     6. Summary and Conclusion 42
zh_TW
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0959330071en_US
dc.subject (關鍵詞) 生技製藥zh_TW
dc.title (題名) 生技製藥產業併購策略─羅氏集團與基因科技公司個案研究zh_TW
dc.title (題名) Strategic merger & acquisition in bio-pharmaceutical industry-Roche and genentech case studyen_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) 1. Decker, Susan. "Pfizer Wins New Lipitor Patent Expiring in June 2011 (Update2) ". Bloomberg.com. January 6, 2010 <http://www.bloomberg.com>zh_TW
dc.relation.reference (參考文獻) 2. Gassmann, Oliver, Gerrit Reepmeyer, and Maximilian von Zedtwitz. Leading Pharmaceutical Innovation. Berlin Heidelberg: Springer-Verlag, 2008.zh_TW
dc.relation.reference (參考文獻) 3. Grabowski, H.; Vernon, J.; DiMasi, J. “Returns on Research and Development for 1990s New Drug Introductions.” Pharmacoeconomics 20, Dec. 2002: 11-29.zh_TW
dc.relation.reference (參考文獻) 4. Saftlas, Herman. "Industry Surveys Healthcare: Pharmaceuticals". Standard & Poor`s November 27, 2008: 1-38.zh_TW
dc.relation.reference (參考文獻) 5. Roche Financial Report 2008. Basel, Switzerland: F. Hoffmann-La Roche Ltd., 2009.zh_TW
dc.relation.reference (參考文獻) 6. We are Genentech 2008 Annual Report. South San Francisco, CA: Genentech Inc., 2009.zh_TW
dc.relation.reference (參考文獻) 7. "Company Portrait". Roche Global Web Site. December 24, 2009 <http://www.roche.com/about_roche/at_a_glance/company_portrait.htm>.zh_TW
dc.relation.reference (參考文獻) 8. "Company Structure". Roche Global Web Site. December 24, 2009 <http://www.roche.com/about_roche/at_a_glance/company_structure.htm>.zh_TW
dc.relation.reference (參考文獻) 9. "Pharmaceutical R&D". Roche Global Web Site. December 24, 2009 <http://www.roche.com/research_and_development/r_d_overview/pharmaceuticals.htm>.zh_TW
dc.relation.reference (參考文獻) 10. "Corporate Overview Home". Genentech official website. December 24, 2009 <http://www.gene.com/gene/about/corporate/>.zh_TW
dc.relation.reference (參考文獻) 11. "Research Focus Areas". Genentech official website. December 24, 2009 <http://www.gene.com/gene/research/focusareas/>.zh_TW
dc.relation.reference (參考文獻) 12. Huckman, Mike. "Roche-Genentech: As The Deal Turns ". CNBC. January 9, 2010 <http://www.cnbc.com>.zh_TW
dc.relation.reference (參考文獻) 13. Morrill, David. "Roche, Genentech now one". ContraCostaTimes. January 6, 2009 <http://www.contracostatimes.com/business>zh_TW
dc.relation.reference (參考文獻) 14. “Pharmaceutical Research and Manufacturers of America (PhRMA)”, 2007 R&D Report: The pursuit of High Performance through Research and Development, Dec. 26 2009, http://www.phrma.orgzh_TW
dc.relation.reference (參考文獻) 15. Pollack, Andrew. "Genentech-Roche Deal May Spur Similar Ties". The New York Times. January 6, 2010 <http://www.nytimes.com/pages/business/index.html>.zh_TW
dc.relation.reference (參考文獻) 16. "Roche Initiates Hostile Takeover Bid for Genentech at US$86.5 per Share". Global Insight. January 9, 2010 <http://www.ihsglobalinsight.com/>zh_TW
dc.relation.reference (參考文獻) 17. Schmit, Julie. "Genentech shares surge on Roche`s $44 billion offer". USA Today. January 6, 2010 <http://www.usatoday.com/money/industries/health>.zh_TW