Las razones competitivas de las operaciones de funciones y adquisiciones farmacéuticas (1993-2015): El caso de las empresas más grandes.

Eric Israel Rios Nequis, Miguel Angel Jaimes Valdez, Andrea López Garcia

Resumen


Localización: Cortazar, Guanajuato MéxicoISSN Electrónico 2007-977X, No. 9 (Septiembre - Diciembre), 2018, págs. 1 - 23

Idioma: Español

Titulos paralelos:

THE COMPETITIVE REASONS FOR MERGERS AND ACQUISITIONS IN PHARMACEUTICAL INDUSTRY (1993-2015): THE CASE OF THE LARGEST COMPANIES

Resumen:

El trabajo de investigación analiza las tendencias y evolución de las partidas que explican el posicionamiento competitivo en las empresas farmacéuticas más grandes. Estas son los gastos en investigación y desarrollo (I+D+i), las ventas, sus operaciones de fusiones y adquisiciones tanto en montos como en cantidades. Los resultados de la investigación mediante un análisis longitudinal de tasas de crecimiento y correlaciones de Spearman con un enfoque comparativo, muestran que la expansión, innovación y dominancia crecieron considerablemente desde la apertura comercial y la protección de derechos en la propiedad intelectual (DPI). Bajo este esquema, las empresas grandes buscan garantizar su competitividad mediante un constante esfuerzo en los gastos de investigación y desarrollo (I+D+i) para patentar medicamentos a futuro que resulten en medicamentos patentados, así como protegidos legalmente (monopolio temporal) y la adquisición de empresas con DPI que resulten en el corto o inmediato plazo en medicamentos patentados. Por tanto, es así como se reduce la incertidumbre de la innovación en el largo plazo y la obtención de resultados en el corto plazo, porque los productos patentados son más representativos en los ingresos de las compañías dominantes que sus pares con menor dominancia. En este sentido, la teoría clásica de fusiones y adquisiciones (expansión económica) pareciera explicar parcialmente dichas operaciones en un contexto de libre comercio e internacionalización.

Palabras clave: Comercio internacional, fusiones y adquisiciones, propiedad intelectual, compañías farmacéuticas.

Abstract: The article analyzes the trends and evolution of the items that explain the competitive positioning in the biggest pharmaceutical companies. The characteristics that are capable to explain their size are expenses (investments) in research and development (R&D), sales, expenses related to mergers and acquisitions. The results of the research using a longitudinal analysis of growth rates and Spearman correlations with a comparative approach, show that expansion, innovation and dominance grew considerably from the commercial opening and the protection of intellectual property (IP). Under this scheme, larger companies look for ensure their competitiveness through a constant effort in the expenses of research and development (R&D) to achieve patents that finish in medicines that will be a protected in legal terms (monopoly) and the acquisition of companies with intellectual property rights that in short or in inmediate term give them finished products thar are protected by a patent and are ready to be launched , this is how the uncertainty of innovation in the long term is reduced and the obtaining of results in the short term, because the patented products are more representative in the income of the dominant companies than their peers with less dominance. In this sense, the classical theory of mergers and acquisitions (economic expansion) seems to partially explain said operations in a context of free trade and internationalization.

Keywords: International trade, mergers and acquisitions, intellectual property, pharmaceutical companies.



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DOI: http://dx.doi.org/10.18583/umr.v3i3.127

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