Identification And Prevention Of The Risks About Pharmaceutical Enterprises Mergers And Acquisitions

Pharmaceutical industry is an industry with high scientific and technological content and intensive degree,which is closely related to people’s life health and quality of life and other vital interests.As early as 2009,China has issued a new national medical reform plan,committed to the comprehensive development of the pharmaceutical industry,pay attention to the improvement of management,enhance the concentration of industry.As one of the top 100 Chinese traditional medicine enterprises in China,Tonghua golden-horse has decided to complete image transformation and expand its scale through merger and acquisition due to the negative impact of financial fraud,huge loss and "poison capsule" event after its listing.The core research question of this paper:what risks exist in the m&a of pharmaceutical enterprises?Currently,most of the existing researches focus on the m&a strategy,valuation and performance evaluation of the pharmaceutical industry.Different from previous studies,this paper starts from the characteristics of the pharmaceutical industry,selects typical cases of mergers and acquisitions,adopts the segmented identification method to identify the risks of mergers and acquisitions of pharmaceutical enterprises,optimizes the risk prevention system,makes the research more typical,and has warning significance for rational mergers and acquisitions of pharmaceutical enterprises.The research ideas of this paper are as follows.Firstly,the research status and basic theories of m&a risk are reviewed.Descriptive statistics are adopted to analyze the m&a of pharmaceutical enterprises in recent years.Secondly,based on the theoretical basis of relevant mergers and acquisitions of enterprises,this paper introduces the background,motivations and process of mergers and acquisitions of Tonghua golden-horse as a pharmaceutical enterprise.Then,according to the segmented identification method,the m&a risks are classified and identified according to the first,middle and last three periods,and the case study question of what risks exist in the m&a of pharmaceutical enterprises is answered.Finally,the paper analyzes the factors that influence the risk,and puts forward the optimization Suggestions based on the current situation of risk prevention.Methods:(1)literature research.Through consulting important papers,periodicals and works at home and abroad,this paper analyzes and draws conclusions on the content of enterprise merger,merger and acquisition of pharmaceutical enterprises,risk prevention and other aspects.(2)combining theories with cases.This paper quotes the actual case of merger and acquisition of pharmaceutical enterprises,and USES relevant theories to guide the practice.Research objectives and expected conclusions of this paper:(1)starting from typical enterprise cases with obvious characteristics,identifying the risks of pharmaceutical enterprises in the process of merger and acquisition,aiming at the process of merger and acquisition;(2)draw conclusions and put forward optimization Suggestions for the risk prevention of pharmaceutical mergers and acquisitions.By studying the risks of mergers and acquisitions in the pharmaceutical industry,it is beneficial to improve the overall integration of the pharmaceutical industry and make the industrial chain more complete.The level of enterprise risk management and the effectiveness of decision-making will also be greatly improved.Merger and acquisition decisions of pharmaceutical enterprises will be more scientific and reasonable,and invalid or unreasonable mergers and acquisitions will be avoided as far as possible.In the end,medical enterprises should consider and prevent the risks in the process of merger and acquisition in many aspects,so as to promote the orderly and healthy development of the whole industry.