(a) Strengthen the purpose of pharmaceutical mergers and acquisitions
With the gradual implementation of pharmaceutical reform, China's pharmaceutical enterprises will usher in a severe test. How to improve the core competitiveness of enterprises and avoid being eliminated in the fierce market competition is a problem that every pharmaceutical enterprise needs to think about seriously. Strengthening the merger and acquisition of pharmaceutical enterprises is conducive to promoting the acquisition of more high-quality resources, improving the control of the market, and enhancing the core ability of the value chain of enterprises by giving play to the respective advantages of the merger and acquisition parties. With the merger and acquisition of pharmaceutical enterprises, the development speed of enterprises will be significantly improved, and the product types will be more diversified, strengthen the merger and acquisition behavior of enterprises, and effectively reduce the business risk of enterprises. At the same time, M&A can give full play to the synergies of M&A enterprises, further optimize the internal management structure of enterprises by means of asset management or capital management, and realize the strategic goals of resource sharing and maximizing the economic benefits of the target company.
(2) The current situation of pharmaceutical enterprise mergers and acquisitions
1. One-sided pursuit of diversified management
Some large pharmaceutical enterprises are eager for quick success and short-term benefits, too much attention to the immediate interests, did not fully consider the situation of the enterprise itself, market trends and development prospects, blindly acquired some small and medium-sized enterprises, and neglected to readjust the management mode, rules and regulations, corporate culture and other contents, which eventually led to the stagnation of technological innovation and management capabilities of enterprises. Seriously restrict the overall development of enterprises, mergers and acquisitions have to end in failure.
2, did not give sufficient attention to financial risks
Some large enterprises pursue economic benefits too much and carry out mergers and acquisitions only to save production costs. Therefore, when acquiring small and medium-sized enterprises and loss-making enterprises, they usually try to lower the acquisition price, completely ignoring the fact that "enterprise integration costs are also part of merger costs". Considering that the management mechanism, technological innovation ability and overall staff level of small and medium-sized enterprises and loss-making enterprises are not comparable with large enterprises, large enterprises often need to spend more costs for integration after acquiring such enterprises, which further increases the financial risk.
3, gradually show a monopoly trend
In view of the current situation in our country, M&A should always follow the basic principles of improving scale economy benefits, avoiding monopoly and cultivating healthy competition. However, in fact, the merger and acquisition behavior of most pharmaceutical companies, although on the original basis, really achieved the expansion of production scale, enterprise economic benefits have also been improved, but it gradually began to show the trend of monopoly. The development of merger and acquisition behavior will lead to some enterprises in the production and operation of too concentrated, the proportion of market share, and eventually monopoly phenomenon. This situation is obviously very unfavorable to the formation of a harmonious competitive environment in the market.