Research On The Investment Path And Effect Of Pharmaceutical Manufacturing Enterprises In The Whole Industry Chain

The pharmaceutical industry is closely related to people’s livelihood and is known as "the sunrise industry that will never decline".The constant bombardment of medical reform policies,the increasingly fierce competition among pharmaceutical enterprises,and the rapid growth of people’s demand promote the restructuring and integration of resources in Chinese pharmaceutical industry.It is one of the widely adopted ways of Chinese pharmaceutical enterprises to explore the future development direction through investment activities in order to obtain positive investment effect.However,our pharmaceutical industry originated from pharmaceutical manufacturing,pharmaceutical equipment industry,pharmaceutical circulation industry,medical service industry,the whole industrial chain is very large,and each industrial chain is linked,affecting the whole body,just want to rely on a breakthrough in a single link to reverse the overall situation is very little effect.Therefore,in addition to jumping out of the comfort zone of the original development direction,many large pharmaceutical enterprises began to position their future development direction in multiple links,and gradually committed to the construction of the whole industrial chain of the pharmaceutical industry,in order to expand the industrial scale,improve the industrial chain,and break through their own bottlenecks.Fosun Pharmaceutical as our country pharmaceutical manufacturing industry Chinese chemical system of dosage product industry bellwether,by virtue of its keen sense of smell,is the listed companies through the way of investment strategic layout of the medical and health whole industry chain earlier.In recent years,it has formed a whole industrial chain from pharmaceutical manufacturing and research and development to medical and health services.Therefore,how Fosun Pharmaceutical strategically lays out the whole industry chain of medicine and health through investment,and how its investment effect is,will be the focus of this paper.In order to enrich the research in this field,and to provide the corresponding reference suggestions for other enterprises planning to adopt the same way.As for the investment path of the whole industrial chain,Fosun Pharmaceutical invests in new bases and projects,sets up subsidiaries individually or jointly,buys equity to participate in controlling the investees,forms strategic alliances and establishes partnerships,and gradually expands the industrial scale through horizontal integration investment in key disease fields and various industries.Vertical integration investment for the supply end and sales end is carried out to gradually improve the industrial chain,and multi-angle investment for innovation research and development and production process is carried out to gradually break their own bottlenecks.As for the investment effect of the whole industrial chain,this paper firstly adopts the method of economic added value as the core to evaluate its comprehensive effect.In order to make the evaluation result more comprehensive and objective,this paper then adopts the method of combining financial and non-financial indicators to evaluate its financial effect,namely the vertical effect evaluation of purchasing and marketing links,research and development links and production links.As well as financial support strength and effect evaluation.In this paper,it is concluded that the comprehensive effect of Fosun Pharmaceutical has been effectively improved,continuously creating enterprise value and growing in scale,but the financial effect has a negative effect.The investment effect in purchasing and marketing links is good,while the investment effect in research and development and production links is poor.At the same time,Fosun Pharmaceutical has sufficient monetary funds available to meet the investment demand,but its solvency is poor,so it needs to pay more attention to the prevention and control of debt risks while making continuous investment.Therefore,in the context of the overall volatile environment of the pharmaceutical industry,not only the need for decisive perseverance to jump out of the original development model,but also the need for strong strength to open up other business areas.Although the criss-cross layout can fully develop multiple business areas,but at the same time,it also needs a variety of investment ways to promote the synergy.At the same time of all-round layout,it is necessary to carry out fine control for the core business and links according to the characteristics of the industry and its own,increase the input and output,so as to achieve the effect of point with surface.At the same time,it is also necessary to pay attention to the raising and application of funds,and pay more attention to the prevention and control of debt risks while making continuous investment.