Study On The Financial Performance Of Pharmaceutical Company A Under The Asset-light Operation Mode

With the increasingly serious problem of ageing population in China and the reality that people’s living standards are rising,the pharmaceutical industry,as an industry closely related to people’s livelihood,has been attracting much attention to its development.On the one hand,the state vigorously promote innovative drugs and core technology self-research,in order to stimulate China’s pharmaceutical market R& D potential,in the national policy and market demand to promote drug innovation R & D competition is increasingly fierce,a large number of enterprises actively to R& D as the driving force to the transformation of innovative drug companies,the domestic pharmaceutical industry in the pharmaceutical market rapid growth of good prospects.From birth to growth,if a company wants to maintain its vitality in the long stream of time,it needs to follow the trend of the times,abandon the unchanging business model,break the pattern of the traditional business model,and formulate a development strategy suitable for itself in different periods of time,taking into account the actual situation of the industry and the strategic objectives of the company.On the other hand,with the changes in market access rules for the pharmaceutical industry,the number and complexity of policies,stricter regulation,higher market access standards and greater concern for health care,the scale of the pharmaceutical industry has gradually expanded.However,the fluctuating prices of pharmaceutical raw materials and the lack of national patent protection for pharmaceutical products,many companies are trying to lighten up their businesses in order to comply with the changes in the market,fully integrating external social resources and focusing on the value creation of light assets such as technology research and development,brand image,customer relations and sales systems.The light asset operation model as a strategy that distinguishes itself from traditional heavy asset forms has then become the selection of many pharmaceutical companies and is slowly forming a unique advantage in the new market competition.This paper uses motivation research,case study,comparative analysis and financial indicator analysis to analyse the asset-light operating model of pharmaceutical company A and its impact on financial performance under this model.The theoretical foundations used in the analysis of the case are first introduced,including the theory of division of work,the theory of industrial value chain,the theory of "smiling curve" and the theory related to financial performance.Through reading and studying relevant literature,the motivation is analysed in the context of the industry background,and the implementation path of its model is sorted out.Then two methods,namely traditional financial index analysis and economic value-added analysis,are applied to analyse the financial performance of pharmaceutical company A before and after its transformation;through horizontal comparison with leading work of the asset-light model in the same industry,it is found that the operation status of pharmaceutical company A’s asset-light model is overall The comparison with the leading companies in the same industry reveals the areas that need to be improved,and provides targeted and feasible financial risk prevention strategies for the problems identified.It is hoped that the research in this paper will serve as a reference for other pharmaceutical companies that have implemented asset-light operations.