我国医药行业并购效应的财务分析.docVIP

PAGE PAGE 34 我国医药行业并购效应的财务分析 摘要 近几年来随着社会的进步和人们生活水平的提高，人们对医疗卫生方面的要求越来越高，市场的潜力也显得越来越大。然而我国医疗产业虽然企业的数量多，但是其中的中小企业占大多数。中小企业的研发能力弱，生产管理水平不够高，其产品主要以仿制药为主，拥有产权的专利药寥寥无几，同一种类型的药往往有十多家企业在生产。医疗行业的环境不仅产生了恶性竞争，还不利于国家对医药器材等的监督和管理。于是自2009年起国家为了规范市场，提高医药产业集中，国家陆续出台了一系列政策方针，提高了医药行业的门槛，由此在医药行业引发了并购的热潮。我国医药行业的并购相对于其他行业较晚，相关的理论与实践还不够成熟，所以开展对医药行业的财务理论研究就显得十分的必要。 本文一共分为四个部分：第一部分重点阐述了我国医药行业并购现状及动因；第二部分则阐述了并购的基本理论；第三部分则分析了医药行业并购的整体情况进行了分析；第四部分结合具体的案例对前文的问题做了进一步的分析；第五部分则提出了提升我国医药行业并购效益的对策。 关键词：医药行业；并购；财务分析 Abstract In recent years, with the progress of society and the improvement of peoples living standard,?peoples demand for medical and health is becoming more and more high, and the market potential is becoming more and more big. However, although the number of enterprises in Chinas medical industry is much, but most of them are small and medium-sized enterprises. Small and medium-sized enterprises R D capability is weak, production management level is not high enough, its products are mainly based on generic drugs, patent drugs with property rights are very few, the same type of drugs often have more than a dozen enterprises in the production. The environment of the medical industry not only produces vicious competition, but also is not conducive to the national supervision and management of medical equipment and so on. So since 2009, the country in order to regulate the market, improve the pharmaceutical industry, the state has promulgated a series of policies and policies to improve the threshold of the pharmaceutical industry, which led to a boom in the pharmaceutical industry. M A in Chinas pharmaceutical industry is relatively late, the relevant theory and practice is not mature enough, so it is necessary to carry out the research on the financial theory of the pharmaceutical industry. This paper is divided into four parts: in the first part, the author expounds Chinas pharmaceutical industry mergers and acquisitions status and reason; the second part elaborates the basic theor