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Pharma M&A versus alliances and its underlying value drivers

Are M&A or alliances the right therapy for an ailing pharmaceutical industry?- A capital market perspective (Sprache: Englisch)
 
 
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This study analyzes 229 M&A and 120 in-licensing deals in the pharmaceutical industry. The author shows from a capital market perspective that M&A experiences significant, negative cumulative average abnormal returns whereas in-licensings are able...
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