Creating value in pharma through M&A

: the case of Watson Pharmaceuticals

Abstract

This paper analyses the motives for mergers and acquisitions (M&A) in the pharmaceutical sector and whether these M&A’s create value. In order to give an industry perspective and let the reader experience the situation wherein managers of pharmaceutical companies operate, a case-study on Watson Pharmaceuticals is done. It provides a detailed perspective into the company’s M&A rationale. Through the literature review as well as the case-study the changes in the pharmaceutical industry are described as well as findings that indicate that shareholder value is created through M&A. Finally, similar motives for M&A are uncovered in the case-study as found in previous studies and current industry changes are described.

Date of Award	18 Jul 2016
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Susana Frazão Pinheiro (Supervisor)