藥廠合併對其銷售績效之影響研究

The Sales Performance Analysis on the Merging Impact of Pharmaceutical Company

高佳愉(Jia-Yu Kao)

指導教授 ： 林長青

淡江大學/商管學院/管理科學學系企業經營碩士在職專班/碩士(2017年)

https://doi.org/10.6846/TKU.2017.00672

摘要

歷經2008年金融海嘯肆虐全球經濟活動大幅下降，整體經濟有漸漸衰退現象，全球政府絞盡腦汁，從貨幣寬鬆政策至擴大公共支出拉抬整體經濟及就業市場進而展開一連串活動，全球併購活動也在2009年觸底後，2010反彈式的展開有力道強勁的併購，全球併購交易金額從2009年2.6兆成長到2014年3.6兆。 且根據2014全球前十大金額併購活動，我們能明顯察覺第4-6名併購活動，就屬生技製藥產業。 由於產業的性質不一，藥廠投入了數百億美金開發新藥雖然在專利期擁有獨賣權，不過專利期一到接踵而來獲利空間快速壓縮的壓力下，如何有穩定的研發常常是各家藥廠困擾的難題。對於已較為成熟的大型製藥公司，產業面臨改變，分散擴大產品線，填補營收缺口壓力下;併購不僅是自家企業成長．同時也是打擊與消滅競爭對手的重要工具，並可確保持續獲利，創造更多的利潤成長。 本論文研究目的，即為探討在併購與績效關係及趨勢,研究觀察重點如下： 一、 生技產業併購與銷售績效之關係。 二、 生技產業大幅成長跟併購之關係。

關鍵字

企業併購 ； 併購動機 ； 國際藥廠併購

並列摘要

After the financial tsunami in 2008, global economic activity fell sharply, or even decline, Governments around the world are all racking their brains, from loose monetary policy to expand public spending to lift the overall job market, global merger and acquisition activity in 2009 following the year bottoming, 2010 strong mergers and acquisitions continue to expand, growth from 2009 to 2.6 trillion global deals amount to 20143.6 trillion
And according to 2014 world top ten mergers and acquisitions activity, we can obviously see di4-6ming mergers and acquisitions activity, a bio-pharmaceutical industry
Due to differences in industry, pharmaceutical companies spent tens of billions of dollars to develop new drugs while selling the patent period has the right, but pressure to patent a second compression profit space, so the stable development is often the problem with drug company problems. For big pharmaceutical companies that have more mature industries face changing, dispersed extended product line, fill the revenue gap under pressure;
The Purpose of this study is the relationship and explore acquisitions and performance trends. Research focused on the following:
The study would emphasize on following two points:
1、 The relationship between Mergers & acguisition and sales performance
2、 Biotechnology industry growth and mergers and acquisitions
The results of this study can be used as references for the future mergers and acquisitions in the pharmaceutical industry elsewhere.

並列關鍵字

Mergers and Acquisitions ； Corporate Culture ； Merges and Acquisitions Model ； Pharmaceutical Industry Integration

參考文獻

游明德，2016。企業併購策略與最佳實務，台北市，三民書局。

李禮仲，2007。企業併購法之探討，財團法人國家政策研究基金會。

王啟光，生技製藥產業關鍵成功因素之研究，1999。淡江大學管理科學研究所。

顏俊嘩，全球製藥公司併購策略之績效表現，2015。國立交通大學金融學

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