Research On Financing Issues Of Pharmaceutical Manufacturers

With the gradual maturity of people's health care consciousness,the bio pharmaceutical industry is developing rapidly.As a rapidly rising technology intensive and capital intensive industry,there is huge demand for capital,huge investment risk and high technology requirement.Under the background of economic restructuring and tighter financial regulation,the financing problem faced by pharmaceutical manufacturers is becoming more and more complex.Financing has become one of the research hotspots in the industry.Based on the characteristics of biopharmaceutical enterprises,and referring to the domestic and foreign experts' research results on financing problems,this paper took A company as an example to study the financing channels,financing costs and financing risks of pharmaceutical manufacturers.Firstly,this paper reviewed the research literature in related fields,studied the model of enterprise financing,the theory of capital structure,debt maturity and financing risk.The previous research literature on the financing of drug production enterprises was analyzed.The factors that influence the financing ability,the ways to solve it,the main financing ways,the financing characteristics of different stages of development and the risk of financing are summarized.Secondly,it discussed the external environments of A company from the aspects of politics,economics,society and technology,and the resources and capabilities of A company.Thirdly,the main financing problems of A were abstracted as three aspects: self financing difficult to meet development needs,indirect financing becoming more and more difficult,and relatively few external financing channels available.The reasons were attributed to three aspects: the demand for research and development funds is huge,the financing risks of the pharmaceutical industry are generally large,and the financing ability of the capital market is weak.Fourthly,take the development strategy of A company as the guidance,formulate financing strategy and financing plan,mainly discuss three ways of supply chain financing,industrial fund and intellectual property pledge,emphasize the importance of financing risk control,and put forward suggestions for financing risk prevention.