Research On Asset Restructuring Of Pharmaceutical Industry Listed Corporations In China

In October 2010, pointed out that "Encouraging competitive enterprises to implement cross-regional, cross-ownership acquisition and joint restructuring." This adjustment guidance finds the right development way for pharmaceutical industry. To scramble for market share in china, foreign capital is launching offensive on domestic pharmaceutical business by right of abundant capital. Some studies show that some district's pharmaceutical business will surge a tidal wave of M&A when it suffers from pressure from the exterior. In addition, domestic pharmaceutical enterprises need recombining in a large-scale way due to the business actuality of high production costs, low-level scientific technology and small scale of enterprises. So, this article wants to explore the theory and the performance of assets reorganization action, based on our medical listed companies. This research will have the theoretical meaning and operational value for improving our medical industry.There are five parts in this article. Firstly, the thesis analyzes and summarizes the researches on the topic at home and abroad in the introduction section. In the second part, we research the development process of assets reorganization, the mode, the reason and the performance of assets reorganization which is the foundation for the following content. Pharmaceutical industry is the focus of the third part, we study the industry assets restructuring process combined with practical policy and industrial features. Empirical part set up a comprehensive evaluation index system, selecting flow rate, Inventory turnover, Earnings per share and other index. The results show that although a few of companies improve their performance by restructuring assets, assets reorganization is effective overall, but this performance improvement is not obvious. The last part find out the existing problems in listed companies of pharmaceutical industry, at the same time proposes the countermeasure.This paper analysis and innovate the key issues on our medical industry's action of Assets reorganization. Thus, it will propose the theories and practical indication and provide some valuable advisory opinions for the decision and development of our medical industry Assets reorganization in the future.