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Pharma M&A versus alliances and its underlying value drivers

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In Stock (864)

£ 52.92

Description

This study analyzes 229 M&A and 120 in-licensing deals in the pharmaceutical industry. The author shows from a capital market perspective that M&A experiences significant, negative cumulative average abnormal returns whereas in-licensings are able to create value. Significant determinants of success for both strategies are derived.