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The Handbook of Mergers and Acquisitions$
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David Faulkner, Satu Teerikangas, and Richard J. Joseph

Print publication date: 2012

Print ISBN-13: 9780199601462

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780199601462.001.0001

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Characteristics of Biotechnology Mergers and Acquisitions

Characteristics of Biotechnology Mergers and Acquisitions

(p.638) Chapter 26 Characteristics of Biotechnology Mergers and Acquisitions
The Handbook of Mergers and Acquisitions

Lars Schweizer

Oxford University Press

This chapter deals with the characteristics of biotechnology mergers and acquisitions (M&As). Analysis of the development of the biotechnology industry from scientific and organizational perspectives leads to the conclusion that a strategic consolidation in the biotechnology industry will take place. M&A activities in the biotechnology industry are driven by the motive to internationalize research and development, to take part in the industry’s development process, as well as to realize the biotech firm’s growth strategy. A successful post-acquisition integration of biotechnology M&A deals requires careful consideration of culture, people, and organizational integration. The latter deals in particular with the experience effect, knowledge transfer, and the question of how to measure M&A success. Especially pharmaceutical companies need to apply a hybrid post-acquisition integration approach, with simultaneous short- and long-term motives/orientations and segmentation at a different pace across different value-chain components in order to successfully integrate an acquired biotechnology firm.

Keywords:   M&A, biotechnology, strategy, post-acquisition integration, cultural integration, people integration, organizational integration, knowledge transfer

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