Mergers and Innovation

Mergers and Innovation in Big Pharma

The aims of this paper are to study the e¤ects of mergers on the R&D activity of consolidated …rms and to explore the relationship between ex-ante relatedness of merging parties and their ex-post performances. The analysis is conducted using data of the pharmaceutical industry for the period 1988-2004. The empirical results suggest that merged companies have on average, worst performances than ...

Mergers and innovation in the pharmaceutical industry.

Conflicting trends confound the pharmaceutical industry. The productivity of pharmaceutical innovation has declined in recent years. At the same time, the cohort of large companies who are the leading engines of pharmaceutical R&D has become increasingly concentrated. The concurrent presence of these trends is not sufficient to determine causation. In response to lagging innovation prospects, s...

Mergers and Acquisitions, Open Innovation and UK High Growth SMEs

This paperexam in es the dyn am ics of en trepren eurial acquisition s un dertak en by UK hig h g row th sm all an dm edium en terprises (S M E s). W hile en trepren eurial acquisition s are in creasin g ly deployed by S M E s, little is k n ow n about their an teceden ts,m otiv ation al driv ers an dorg an isation al outcom es. D raw in g on detailedcase study ev iden ce from S cotlan d,the k ...

Mergers and Innovation: The Case of the Pharmaceutical Industry

This paper takes a new look at the e¤ects of mergers on innovation by analysing the relationship between ex-ante technological (and product) relatedness of acquirers and targets and post-merger performances. The analysis is conducted using data on consolidations in the pharmaceutical industry for the period 1988-2004. Empirical results show that merger deals are more likely to be signed between...

Collaboration and innovation: a review of the effects of mergers, acquisitions and alliances on innovation