| With the development of economy and progress in science and technology, modern biotechnology achieves rapid development. Also,biopharmaceutical technology pushes pharmaceutical industry forward greatly. At present, China’s biopharmaceutical companies are in the growth spurt period, and the number and size of enterprises keep on rising. In recent years, people have begun to pay more and more attention to biopharmaceutical companies,.Investors also have launched their analysis and discussion on their investment value. However, bio-pharmaceutical companies featuring with high upfront investment, long development cycle, unstable income and so on, have their own special valuation,which makes the valuation become a forefront issue in assessing community.Based on the study of value drivers of biopharmaceutical companies and in combination with the characteristics ofbiopharmaceutical industry,this paper,which takes the financial indicators and non-financial indicators into account,manages to explore proper methods for biopharmaceutical business valuation. So it can provide theoretical basis for the value assessment of biological pharmaceutical enterprises, and decision making basis for their investment management,therefore,to maximize corporate value and social benefits. In view of this, the paper will sort out the characteristics of biopharmaceutical companies,summarize the value drivers of biological enterprises and adopt comprehensive evaluation, AHP, dimensionless and other methods to build an index system for biological pharmaceutical enterprise that introduces non-financial indicators. Besides, paper selects 13 listed biopharmaceutical companies,makes analysis and statistics on them, and takes advantage of correlation tests to show the applicability of the method for assessing the biopharmaceutical enterprise value,.In this way,this paper will offer new exploring direction and methods to the researches of biopharmaceutical companies’ value assessment. |
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