Danzon, Patricia M.; Epstein, Andrew; Nicholson, Sean - In: Managerial and Decision Economics 28 (2007) 4-5, pp. 307-328
We examine the determinants and effects of M&A activity in the pharmaceutical|biotechnology industry using SDC data on 383 firms from 1988 to 2001. For large firms, mergers are a response to expected excess capacity due to patent expirations and gaps in a firm's product pipeline. For small...