Research On The Impact Of Serial M&As On The Performance Of FX

In recent years,due to the increasing demand for drugs,Chinese pharmaceutical enterprises have begun to usher in the opportunity of development.However,due to the small scale,scattered industry,lack of R&D funds and other issues,the development of Chinese pharmaceutical enterprises has been greatly restricted.Therefore,the state calls on pharmaceutical enterprises to achieve development through mergers and acquisitions,which can make pharmaceutical enterprises achieve scale effect and complementary resources,and accelerate their R&D and business capabilities.In response to the government’s call,FX Group realized its development through a series of large-scale mergers and acquisitions,from a single small-scale pharmaceutical enterprise to a comprehensive global pharmaceutical group.Its process and results can give us a lot of inspiration.Starting from 2010,FX Group began to carry out large-scale mergers and acquisitions.In 2013,it began to lay out its overseas market.By 2015,FX Group has completed the layout of the whole industrial chain.In 2017,FX Group continued to open up its overseas market by successfully acquiring Indian G Company.In his acquisition,there are many successful experiences worth learning from other pharmaceutical enterprises.Of course,there are also many problems worth discussing.This paper takes FX Group’s continuous M&A as a case study,constructs the performance evaluation index system of pharmaceutical companies,and constructs a comprehensive performance evaluation index system suitable for pharmaceutical enterprises’continuous M&A as far as possible.This performance evaluation index system tries to evaluate the performance of pharmaceutical enterprises’continuous M&A from a more comprehensive perspective so as to fully evaluate the comprehensive impact of the continuous M&A activities on the performance of FX Group.The weight of the index is determined by the analytic hierarchy process,and the beneficial impact of M&A on the overall performance of the company is calculated.However,there are still some risk points caused by the adverse impact.Individual problems at different levels remain prominent.This paper then analyses the causes of these adverse effects one by one,and puts forward corresponding suggestions one by one.It suggests that enterprises try to adopt other methods of M&A consideration payment to reduce the liquidity risk caused by cash payment only,focus on the M&A of raw material suppliers in the upstream of the industrial chain in the process of selecting the target of M&A,and strengthen the vertical integration after M&A.Activities and focus on technological integration,enhance their R&D strength,and finally summarize the enlightenment,and make recommendations on the M&A strategy of other pharmaceutical enterprises.