Evaluation Of Private Equity Fund Investing In Pharmaceutical Industry

Private equity is a new investment way. The operations of PE are including to appraisal the invested enterprise, carry on the following management to the enterprise, and withdraw finally. Appraisaling the target enterprise is the most important link in the operations, it will decide the success or defeat of the investment.The nature of the investors pursue the high profit will make the PE company invest the promising and different industries, therefore the different industries have the different evaluating indicator system.The pharmaceutical industry is the non-periodic industry, it has the good investment value and it makes the each investment company pay attention to this investment target increasingly. From the perspective of private equity investment company, this article carries on the investment to the pharmaceutical enterprise, studies the invested objects overall, establishes the evaluation indicators system for the pharmaceutical industry, uses the appropriate assessment methods, builds a set of investment evaluation system with industry characteristics.Firstly, the article illustrates and compares the basic theories of the private equity investment, clarifies the scope of the concept of private equity investments, and introduces the pharmaceutical industry and investment analysis. Secondly, this article analyzes the evaluation factors of pharmaceutical enterprise, references the existing evaluation indicators as well as some private equity investment company's evaluation criteria, combines with the characteristics of the pharmaceutical industry and thus establishes examine indicators system of PE invest pharmaceutical enterprises. The indicators system covers the pharmaceutical enterprise management factors, financial factors, market factors, technical factors, factors of production, and discusses each factor comprehensively. Then it combines with the fuzzy mathematics theory and the delphi way, builds the private equity investment decision-making model of fuzzy comprehensive evaluation.Finally it applies the evaluation model on the Hei longjiang MDS enterprise, to prove that if we want to invest enterprises, we must carry on comprehensive inspection and analysis before the investment to the goal enterprise.