摘要：随着经济的全球化发展，要在复杂激烈的市场竞争中确保行业优势，加快产业结构调整升级刻不容缓。并购重组是企业升级产品和服务、优化资源配置所采取有效举措之一。随着人类大健康意识的增强，作为“永不衰落的朝阳产业”，医药行业仍然存在巨大的市场发展潜力，人类的生命健康和生活质量与之密切相关。目前，我国医药行业还存在着行业集中度低，自主研发和创新能力不足等问题，在近年来国家有关政策的推动下，医药行业并购活动日趋频繁。基于以上基本现状，对医药行业并购活动的分析研究具有重要价值和意义。本文依据相关并购理论基础阐述了并购的定义分类，并购动因理论和并购绩效的评价方法,并以此对复星医药的连续并购案例进行具体分析，发现并购重组能给企业带来一定程度上的优化，最后根据分析的结果给出相应的建议。77537

毕业论文关键词：医药行业；并购；动因；绩效

The Motives and Performance Analysis of Pharmaceutical Industry Mergers & Acquisitions—Case on FOSUN PHARMA

Abstract：With the globalization and development of the economy, only by accelerating the speed of adjustment and upgrading of industrial structure, enterprises can ensure the advantage of the industry in the fierce market competition。 Mergers & Acquisitions (M&A) is one of the effective measures to optimize the allocation of resources and enhance the competitive advantage。 Pharmaceutical industry, as a "sunrise industry", has huge market potential。  Human beings’ health and quality of life are closely related to it。 There are still some problems in China's pharmaceutical industry, such as low industry concentration, lack of independent research and innovation ability and so on。 In recent years, with the promotion of relevant policies in China, the M&A activity is becoming more and more frequent。 Based on the above facts, It is of great significance to study the merger and acquisition of Chinese pharmaceutical industry。 In this paper, on the basis of relevant merger theory, the definition and classification of M&A, evaluation method, theory of merger and performance reasons are described。 Besides, the continuous acquisition of Fosun Pharmaceutical case is analyzed, and it is observed that M&A can be optimized to a certain extent for the enterprise。 Finally, according to the results of the analysis, some corresponding suggestions are provided。

目录

第一章 绪论 1

1。1研究背景 1

1。2研究现状 2

1。2。1并购动因的研究现状 2

1。2。2并购绩效的研究现状 2

第二章 并购概述 2

2。1并购的定义 2

2。2并购的分类 2

2。3 并购动因研究 3

2。3。1协同效应理论 3

2。3。2代理理论 4

2。3。3价值低估理论 4

2。4并购绩效研究方法 5

2。4。1事件研究法 5

2。4。2财务指标分析法 5

第三章 医药行业环境分析 5

3。1 医药行业发展现状及趋势 5

3。1。1 我国医药行业的存在的问题