Research On The Strategic Continuous M&A Integration And Performance Of Traditional Pharmaceutical Companie

As an exogenous growth mode,M&A can help enterprises to expand and develop rapidly.In recent years,due to the increasing trend of population aging,the improvement of residents′;health awareness,the increase of social medical and health expenditure and other factors,the pharmaceutical market has been growing steadily.In order to seize the market quickly and improve the competitiveness of enterprises,mergers and acquisitions among pharmaceutical enterprises are relatively active,and compared with single mergers and acquisitions,a large number of pharmaceutical enterprises are more inclined to carry out continuous mergers and acquisitions.Whether continuous M&A can bring positive benefits to enterprises ultimately depends on whether the integration of continuous M&A resources is in place.In this paper,Yifan Pharmaceutical′s continuous merger and acquisition was selected as the research object,and the improved balanced scorecard and entropy method were used to analyze the resource integration and performance of enterprises after continuous merger and acquisition,and suggestions were put forward.It is hoped to bring enlightenment to other enterprises carrying out continuous M&A activities in the pharmaceutical industry.Firstly,this paper summarizes the domestic and foreign research on the concept,motivation,performance and integration of continuous mergers and acquisitions,and clarifies the relevant concepts and the required basic theories.Then,the status quo of continuous M&A in the pharmaceutical industry,the operation overview,continuous M&A process and characteristics of the case enterprise Yifan Pharmaceutical were summarized.It was found that under the guidance of development strategy planning,the enterprise carried out continuous mergers and acquisitions for the purpose of optimizing the industrial layout,improving the enterprise ′ s innovation ability,and exploring the international market,and the enterprise paid attention to the integration of resources obtained by mergers and acquisitions.Then,this paper combined the two evaluation methods of improved balanced scorecard and entropy method,selected a total of 20 specific evaluation indicators from the four dimensions of financial coordination,operation coordination,management coordination,innovation and development,and evaluated the resource integration effect and continuous M&A performance of Yifan Pharmaceutical.The research conclusion shows that Yifan medicine in the operation,management of the integration is more in place,the synergistic effect is greater,compared with the financial and innovative development is slightly insufficient.In terms of overall corporate performance,Yifan Pharmaceutical′s overall performance was better in the first few years of continuous mergers and acquisitions.In the past two years,due to the influence of COVID-19,drug collection and other factors,the company′s revenue declined,and its financial performance was greatly impacted,with the overall performance showing a downward trend.Finally,this paper puts forward suggestions on the problems in Yifan Pharmaceutical′s continuous merger and acquisition,hoping to provide reference for other pharmaceutical enterprises engaged in continuous merger and acquisition.