Research On Pharmaceutical Manufacturing Enterprise Performance Based On R&D Mode Perspective

Since 2015,China has issued a large number of drug-related policies and regulations to promote the development of the pharmaceutical industry and encourage innovative drug research and development.However,the high risk of pharmaceutical research and development still makes many enterprises dare not and unwilling to invest in innovative drug research and development.How to invest in research and development is a big problem for pharmaceutical manufacturing enterprises.For enterprises,R&D resources are limited.How to choose the way R&D resources are put into use is related to the future development of enterprises.Under the independent R&D mode,enterprises can obtain innovative achievements with independent property rights and obtain high monopoly income,while under the cooperative R&D mode,enterprises have low risk,low investment and fast effect,and can achieve R&D results in the short term.Therefore,from the perspective of R&D mode,this paper selects Heisco and Betta Pharmaceutical as case study objects to explore the correlation between different R&D modes and enterprise performance,in order to provide reference for Chinese pharmaceutical manufacturing enterprises to choose R&D mode and improve enterprise performance.In different R&D modes,due to the different ways of putting R&D resources into use,the performance of enterprises is different.The difference of R&D mode has an impact on the cost,resource allocation,risk and income in the process of R&D,which is embodied in four aspects:different capital stock,different ways of using funds,different R&D efficiency and different core competitiveness of enterprises,and ultimately has different effects on enterprise performance.This paper evaluates the performance of Heisco and Betta Pharmaceutical from three different aspects:financial performance,innovation performance and market performance,and finds that R&D mode and enterprise performance interact with each other.On the one hand,the capital stock and R&D ability of enterprises affect the choice of R&D mode;on the other hand,the efficiency of capital use and R&D efficiency of enterprises will be different under different R&D modes.In terms of financial ability,the impact of different R&D models is mainly reflected in solvency,profitability and development ability.Enterprises that choose independent R&D mode often have excellent solvency and profitability.Enterprises under cooperative R&D mode often choose to buy from external technology because of their own R&D capacity constraints or the reduction of R&D capital cost and time cost.In terms of innovation performance,enterprises that choose independent R&D generally have a very strong R&D strength.Enterprises that choose cooperative R&D may have a slight lack of R&D capabilities,but cooperative R&D can effectively improve their R&D efficiency.In terms of market performance,new products under the independent R&D model can enable investors to improve their business expectations and recognize their innovative R&D capabilities.From a long-term perspective,independent research and development can fundamentally improve the innovation ability of enterprises,which is conducive to the long-term development of enterprises.However,from the perspective of enterprise management,cooperative R&D can effectively improve the efficiency of R&D output,so that products can complete R&D faster and enter the production and listing process,which is more in line with the business goal of maximizing corporate profits in the short term.Finally,this paper puts forward three suggestions,namely,choosing R&D mode according to the business situation,strengthening the construction of R&D team and keeping up with the pace of policy.