Research On The Financial Effect Of The Pharmaceutical Industry Merger And Acquistions

With China’s economic development and social progress, mergers and acquisitions to expand the scale of enterprises, has become one of the important ways to improve market competitiveness. In foreign countries, M&A has100years of history, but the history of mergers and acquisitions in China only a short20years, but in recent years, the mergers and acquisitions of Chinese enterprises in the world within the scope of influence is more and more big, the quantity and the amount involved is increasing year by year. Therefore, many scholars at home and abroad on the M&A case studies. Research shows that M&A cases increased year by year, but the failure rate of M&A is very high, as high as70%. The results of study, pay more attention to the economic effect after the merger of the scholars at home and abroad. Domestic and foreign scholars think that the enterprises should give the financial synergy effect in order to promote the success of enterprise M&a better. R&D capability of pharmaceutical enterprises is weak, demand for funds is small, weak sustainable ability has caused most of the pharmaceutical enterprises are facing bankruptcy, merger and acquisition has become the most direct and conduct of pharmaceutical enterprises out of the economic difficulties. Since2000, the pharmaceutical industry set off a wave of mergers and acquisitions, failures abound, become the focus of attention. How to choose the target to achieve financial positive effect to reduce the failure is a hot issue in the research of the pharmaceutical industry. Research on the financial effect of the pharmaceutical industry, can give full play to the role of mergers and acquisitions of financial synergy effect, can make the enterprise get the biggest long-term economic benefits after the merger.In the pharmaceutical industry mergers and acquisitions of the case as the breakthrough point, to the domestic related literature, on this basis, analysis of the pharmaceutical industry mergers and acquisitions and the status quo. The use of qualitative analysis on the form of the pharmaceutical industry mergers and acquisitions in the financial positive effect and negative effect of financial. Respectively from the two aspects of positive and negative effects of X company listed pharmaceutical acquisition of R Pharmaceutical, H Pharmaceutical shares and the acquisition of S Pharmaceutical. Using financial index analysis method, a systematic analysis of before and after the two merger cases in the financial data of the enterprise, and puts forward countermeasures to improve the financial positive effect negative effect of inhibition of financial. Include:improving the relevant provisions of the pharmaceutical industry mergers and acquisitions, strengthen the examination and approval of the pharmaceutical industry mergers and acquisitions of financial integration after M&A and do the preparatory work.