Title:
The Outsourcing of R&D through Acquisitions in the Pharmaceutical Industry
The Outsourcing of R&D through Acquisitions in the Pharmaceutical Industry
| dc.contributor.author | Higgins, Matthew | |
| dc.contributor.author | Rodriguez, Daniel | |
| dc.contributor.corporatename | Georgia Institute of Technology. TI:GER | en_US |
| dc.date.accessioned | 2006-06-22T19:25:50Z | |
| dc.date.available | 2006-06-22T19:25:50Z | |
| dc.date.issued | 2005-02-27 | |
| dc.description.abstract | We examine the performance of 160 pharmaceutical acquisitions from 1994-2001 and find evidence that on average acquirers realize significant positive returns. These returns are positively correlated with prior acquirer access to information about the research and development activities at target firms and a superior negotiating position. A unique Desperation Index is employed in order to determine the current status of a firm’s internal productivity. We find that firms experiencing declines in internal productivity or which are more desperate are more likely to engage in an outsourcing type acquisition in an effort to replenish their research pipelines. | en |
| dc.format.extent | 273660 bytes | |
| dc.format.mimetype | application/pdf | |
| dc.identifier.uri | http://hdl.handle.net/1853/10736 | |
| dc.language.iso | en_US | en |
| dc.publisher | Georgia Institute of Technology | en |
| dc.subject | Aquisitions | en |
| dc.subject | Asymmetric Information | en |
| dc.subject | Winner's curse | en |
| dc.subject | Pharmaceutical Industry | en |
| dc.title | The Outsourcing of R&D through Acquisitions in the Pharmaceutical Industry | en |
| dc.type | Text | |
| dc.type.genre | Working Paper | |
| dspace.entity.type | Publication | |
| local.contributor.corporatename | Scheller College of Business | |
| relation.isOrgUnitOfPublication | a2f83831-ae41-4d65-82ff-c8bf95db4ffb |