Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This research paper examines the post-merger innovation incentives of acquiring firms in the pharmaceutical industry. Three measures of innovation are considered: R&D intensity, R&D growth and patent intensity. The latter denotes innovation output, while the first two measures are a proxy for innovation input. Moreover, we investigate whether the post-merger effect on the selected innovation measures depends on the target firm size. The analysis is conducted using a data sample of 81 pharmaceutical firms participating in M&A for the period 2010-2015. Our empirical strategy makes use of both fixed-effects and difference-in-difference regressions. One out of three hypotheses received support, with results showing that M&A have a negative impact on innovation output, measured by patent intensity. This indicates that the acquired technologies are not exploited to their full extent after the completion of the deal, resulting in a diminution of the long-term innovativeness of the acquiring firm.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper deals with discussing the European Leniency Notice: the major changes, its goal, adverse effects, etc. Looking at the design of the current European Leniency Notice, the paper provides a framework in which it recommends some extensions: the usa

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Nowadays, the health expenditures in European countries are increasing. Regulations in the pharmaceutical industry are implemented by the government to suppress these rising health expenditures. The difficulty for the government is that it has to take into consideration two objectives; the health policy objectives and the industrial policy objectives. On one side, the patients have to be secured of safe and effective medicines. But on the other side, drugs research and development and innovations has to be encouraged. Despite these contrasting objectives, the pharmaceutical industry is one of the most regulated industries in the world. Our approach is based on the Community Innovation Survey, to provide empirical evidence for the pharmaceutical industry in the European Union. This paper reveals that the pharmaceutical enterprises consider regulations as an important barrier to innovation. The considered countries Germany, Greece, Italy, Hungary and Poland exhibit very different degrees in importance.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This Master’s thesis outlines the characteristics contributing to the attractiveness of an M&A target in the pharmaceutical industry, more specifically, with a focus on Belgian based target companies. The existing literature assesses merely general determinants of M&A, whereas, this research conducts semi-structured interviews with Belgian based target companies to examine the unique focal points in Belgium. Firstly, this research shows characteristics in line with the literature that are beneficial for the attractiveness of a Belgian based target company, namely, product portfolio overlap in terms of same disease area, technology and knowledge overlap, possibility of product market expansion, complementary product portfolio, former collaborations and products in the later stages of clinical research. However, other characteristics discussed in the literature do not appear to be relevant for Belgian based target companies. Furthermore, supplementary determinants are suggested: the potential market sales, the number of alternatives to get access to a certain drug or asset, the team of researchers, the willingness to sell and the number of interested companies. Eventually, this paper highlights the collaborative environment in the pharmaceutical industry in Belgium which is a nourishing foundation for the creation of a great number of potential M&A targets in the country.