Research On The Improvement Of The Value Evaluation Of To A M&A C Pharmaceutical Enterprises

With the promotion of national policies and the intensification of the competitive environment,the pharmaceutical industry has gradually expanded through the capital market,the industry concentration has been accelerating,and the boom in mergers and acquisitions has not diminished.In the merger and acquisition,the valuation results provide an important basis for pricing,so how to choose a reasonable valuation method should be concerned.In recent years,China's capital market has been continuously developed and improved,especially in the pharmaceutical industry.The number of listed companies has shown an upward trend,which has gradually satisfied the application preconditions of market law.Among the three methods of enterprise value assessment,the market method has the advantages of simple operation and easy understanding,but it is not widely used in the valuation of mergers and acquisitions in the pharmaceutical industry.This paper thinks that this is too small compared with the number of comparable companies selected,and the market value multiplier.The choice of a single one,the judgment of subjectivity is closely related,the expansion of the number of comparable companies and how to rationally choose the value multiplier is a key issue in promoting the use of market law.In order to improve the shortcomings of the market value multiplier selection,this paper combines the characteristics of the industry,considers the value drivers in many aspects,solves the problem of single selection of value multipliers,expands the number of comparable companies,and uses BP neural network to deal with linear and non-linear The ability to linearly structure,construct an evaluation model that includes multiple characteristics and multiple enterprise situations,and use the constructed BP neural network model to evaluate XX Pharmaceutical Co.,Ltd.,compare it with traditional evaluation methods,and analyze BP neural nerves.The network model makes progress in the valuation of pharmaceutical companies and is not perfect.According to the model,the importance analysis of the influence factors is provided,which provides direction and suggestions for how to improve the value of pharmaceutical companies.Through the research of this paper,it enriches the theoretical system of enterprise value evaluation in China,and at the same time can guide and solve the problems encountered in the value evaluation practice of pharmaceutical enterprises,thus improving the scientific and rationality of its valuation.