The Research Of R&d Investment And Performance On Pharmaceutical Industry In China

Pharmaceutical industry as main industry can create large economic and social benefits accompanied by the global economic and technical developing,no matter developed country or developing country.Our country is one of the developing country,that Pharmaceutical industry,especially in western medicine,start time is later than developed country.In the meanwhile,pharmaceutical industry is the main industry in whole high-tech enterprise and that R&D ability can decide the company's survive and development.During 20 st century the research and develop gathered in California Washington and England,in California,there are about 2500 Biomedical companies,and 75 universities and nonprofit institutes are working for R&D.In US,about 80% investment activity are put in research and development phrase,about 18% investment is put in enhancing the existing product,67% invest in new medicine development.Now there still many pharmaceutical enterprise produce copy medicine and that is the main business in this kind of company,using cost gap to get the marketing share,but this method is not conducive to development for company,not conducive to enhance the R&D ability,not conducive to make forward for pharmaceutical industry.this article analyze the influence on company performance through investing capital in R&D activity and got the conclusion as follows:This article choose 83 enterprise listed in China Stock exchange,there are 70 western medicine enterprise and 13 Biological medicine company.Through looking for every annual report from 2011 to 2015 and Wind software than got the number of total investment in R&D and the number of R&D expenses and the number of capitalized expenditure that regard as the independent variables during the analysis process.The asset-liability ratio?enterprise scale?Increase rate of operating income and total assets turnover are regarded as control variables,the conclusion is that the total investment in R&D has positive correlation with corporate performance and the R&D expenses promoting firm performance by correlation detection and multiple regression analysis,but the correlation between capitalized R&D expenditure with enterprise performance is weak,that indicate the innovation achievements of R&D activity is not enough.As a result,the suggestion is that,from government aspect,the country offer policy support ? relevant preferential ? encourage the development of the pharmaceutical industry? strengthen listed company's information disclose about R&D?perfect the cooperation policy between domestic enterprises with foreign enterprises;from enterprise aspect,answer the call of our country to strengthen technical innovation?strengthen the cooperation with Research institutions,strengthen the management on innovation program to enhance the ability and speed of research and development,that is deemed to be basis on continue developing to enhance R&D investment and innovation ability.