Do mergers and acquisitions create shareholder wealth in the pharmaceutical industry

@inproceedings{Hassan2007DoMA,
  title={Do mergers and acquisitions create shareholder wealth in the pharmaceutical industry},
  author={Mahmud Hassan and Dilip Kumar Patro and Howard P. Tuckman and Xiaoli Wang},
  year={2007}
}
Purpose – The purpose of this paper is to analyze mergers and acquisitions (M&A) focusing on the US pharmaceutical industry in the period 1981‐2004. This industry is chosen because it is global, it engages intensively in M&A which it uses to both complement and substitute for early stage research, and because the potential abnormal returns to blockbuster drugs are substantial. It is assumed that if abnormal returns to M&A exist in the short and long run, this is the industry to find them.Design… CONTINUE READING

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