Research On The Performance Of H Pharmaceutical Merger And Acquisition Of J Pharmaceutical From The Perspective Of Balanced Scorecard

With the rapid development of national economy and the improvement of people’s living standards,people’s demand for health industry is also growing,leading to more and more fierce competition in the pharmaceutical production industry.The speed of endogenous growth of enterprises is difficult to keep up with the rapidly changing market trend,and it is increasingly difficult to meet the needs of future development of enterprises,which makes many enterprises begin to change the development mode to the extension of mergers and acquisitions to expand the scale.Along with the continuous deepening of the reform of the medical and health system,the promotion of medical insurance cost control,centralized drug procurement and other policies,the pharmaceutical enterprises have brought unprecedented pressure of integration and upgrading,prompting the pharmaceutical enterprises to carry out more active merger and acquisition activities.By the end of the first three quarters of 2022,the number of M&A events in the A-share pharmaceutical and biological sector totaled 294,ranking the third in the A-share industry.In order to achieve the goal of rapidly expanding the scale of operation in a short period of time,occupy the high-quality resources in the market of the medicine segment,and achieve the effect of "1+1>2",many medicine enterprises choose the way of M & A to enlarge the scale of enterprises,economies of scale.This paper selects a representative M&A case in the pharmaceutical industry--H Pharmaceutical & J Pharmaceutical as the research object.First of all,the basic situation and M&A motivation of the two enterprises are described respectively,and then the research is mainly focused on the performance issues of H Pharmaceutical’s acquisition of J Pharmaceutical.Based on the balanced scorecard theory,the performance evaluation scheme of M&A was constructed to analyze the performance changes of H Medicine before and after M&A from 2017 to 2022 from the financial dimension,customer dimension,internal process dimension and learning and development dimension.The research conclusion shows that H Pharmaceutical has a good performance in the internal process dimension and learning and growth dimension after the merger.In general,H Pharmaceutical’s merger is a successful case.Finally,based on the acquisition experience,this paper puts forward suggestions for the subsequent development.