Mergers and Acquisitions

Covid-19 has brought so much uncertainty, but one certainty is that the vaccine race will generate winners and losers in the pharmaceutical and biotechnology industries. This will have a major impact on merger and acquisition activity. While the plethora of merger and acquisition deals are abundantly reported by the news media, there is a clear lack of in-depth analysis on the multiple rationales and various challenges in the life sciences industry. By offering contributions from a variety of experts in the biotechnology and pharmaceutical industries, as well as experts on mergers and acquisitions, this edited collection will draw upon the knowledge of a variety of different actors within the fields of pharma and biotech. This book offers a timely exploration of the complexities of mergers and acquisitions in the pharmaceutical and biotechnology industries while seeking to bridge the gap between theory and practice. It presents a critical analysis of the rationale for acquisitions and studies the challenges of ensuring a successful deal. In the light of the Covid-19 pandemic, it will also explore the impact this may have on the industry, which may further stimulate merger and acquisition activity. It will be of interest to researchers, academics, policymakers, and students in the fields of strategy, management, governance, and the biotechnology and pharmaceutical industries.

Mark Thomas is Associate Dean for Programmes and Associate Professor of Strategic and Management at ICN Business School, France. He has taught Corporate Strategy and Leadership at Master and Executive Education levels including the Advanced Master's degree in Biotechnology and Pharmaceutical Management at Grenoble EM. He holds a PhD from Lancaster University Management School, UK. His research focuses on the change management process during post-merger integration. He also holds an MSc in Strategy and Management from Em-lyon, France and is a graduate of Harvard Business School. Janna Rose is a professor in People, Organizations and Society at Grenoble Ecole de Management (GEM) in France. While her teaching focuses mainly on ethics and social responsibility, as well as laboratory management and innovation, she has served as a coordinator for the Chair for Public Trust in Health and a member of the ethics board (ELSI) for EIT Health projects across Europe. Previously, she worked as a technician and manager in genomics and phytochemistry laboratories before earning degrees in Medical Anthropology (MA, Tulane University) and in Ethnobotany (PhD, Florida International University).

Chapter 1: Introduction: Taking stock of the wave of M&As in the life sciences industry. What has the past decade taught us? Part 1: The Pre-merger Phase Chapter 2: The Art of Letting Go: Corporate Divestitures in the Bio-Pharmaceutical Industries Chapter 3: Preventive & Active takeover defense strategies in the Pharmaceutical and Biotechnology Industries Chapter 4: Merger & Acquisition trends in the Gene Therapy sector Chapter 5: Risk management in pharmaceutical and biotechnology mergers and acquisitions Part II: The Transaction Phase Chapter 6: Finding the right 'fit' during the M&A process Chapter 7: Exploring all options: unconventional acquirers in the healthcare sector Chapter 8: To make it or buy it: Investing in M&A or R&D as contradictory or complementary strategies in the biotech and pharma industries Chapter 9: Should governments get involved in Big Pharma Mergers & Acquisitions? Part III: The Post-Deal Integration Phase Chapter 10: A tale of two masters. Assessing the post-acquisitions management strategies of private equity firms and industrial pharmaceutical groups Chapter 11: Post-acquisition challenges in the wake of the Covid-19 pandemic in the pharmaceutical and biotech industry Chapter 12: Depth in biotech & pharma merger and acquisitions. How much should you integrate? A multi-case analysis. Chapter 13: What is the 'right' speed for post-acquisition integration within the pharmaceutical & biotechnology industries? Chapter 14: Conclusion: Future Perspectives in Pharmaceutical and Biotechnology mergers and acquisitions