An Study On The Impact Of TASLY's Technology Merger And Acquisition Of TASLYDIYI On Innovation Performance

Pharmaceutical industry belongs to high-tech industry in China.In recent years,the pharmaceutical industry in China has been growing rapidly,but there are few large-scale pharmaceutical enterprises with high degree of specialization and independent innovation ability in the industry,the overall technical level of the industry is not high,and the phenomenon of product imitation among enterprises is relatively common,which leads to serious product duplication in the market.Recently,under the idea of "lowering drug prices and increasing service prices" of the state,price competition among enterprises is also serious.Increasingly cruel,the overall level of competition in the industry is very fierce.In order to improve their innovation performance and cope with the fierce industry competition,there are more and more cases of Technology Mergers and acquisitions by enterprises in the industry.Not only do large domestic enterprises merge and acquire technology-based emerging small and medium-sized enterprises,but also domestic enterprises will go out and merge foreign enterprises with advanced technology,so as to obtain the latest technological resources.The main merger will create new technology and patents after fully integrating the newly acquired resources with its own existing technology resources,thus improving innovation performance,making the main merger gain the leading edge in the fierce industry competition,thus maintaining sustainable and stable development.Based on this research background,this paper intends to explore whether TASLY's innovation performance has improved after the implementation of Technology Mergers and acquisitions through a case study of TASLY's Technology Mergers and acquisitions of TASLYDIYI Pharmaceutical Industry.Firstly,this paper combs the relevant research literature,and finds that the current scholars' research on Technology Mergers and acquisitions and innovation performance mainly focuses on the impact of Technology Mergers and acquisitions on innovation performance,the impact factors of innovation performance and the measurement indicators of innovation performance.Scholars make empirical research on different enterprise groups to select different measurement indicators,and draw different conclusions.Secondly,this paper introduces the related concepts and theoretical basis.It not only explains technology M&A and innovation performance in detail,but also explains why enterprises should improve innovation performance through technology M&A based on resource-based theory,organizational learning theory and input-output theory.Next,this paper chooses TASLY Technology M&A TASLYDIYI Pharmaceutical as a case study.After introducing the industry background,the situation of both sides and the motivation of M&A,the relevant data of the year before M&A,the year of M&A and the four years after M&A totally 6 years are collected.The impact of this M&A on enterprise innovation performance is measured from two dimensions of innovation process performance and innovation output performance.There should be R&D intensity,the scale of scientific research personnel,the number of patent applications and the number of products under research.The results show that TASLY's technology M&A has a positive effect on the innovation performance in the year of M&A and the first year after M&A.In the later stage of M&A,TASLY's technology M&A only has a slight effect on the innovation process performance,but has no significant effect on the innovation output performance.The last part of the article is the case summary and experience enlightenment.Through the analysis of the whole case,it draws inspiration on how to choose the appropriate target of M&A,how to integrate resources after M&A,and how to manage scientific research personnel.