Abstract
It is quite common to see various large multinationals to implement the mergers & acquisition (M&A) or spin-off to achieve their business objectives. In the past, the proportion of joint venture or spin-off occurred in pharmaceutical industry are getting higher and higher than other industries. In addition to the characteristics of the pharmaceutical industry itself, the dynamic of current socio-economic, national regulatory authorities is getting strict and rigorous, and the research and development is always spending hugely time-consuming and facing the pressure of the expiration of patents or other factors. The currently results, pharmaceutical industry giants execute mergers & acquisitions between each other. But extended the endless problems of monopoly (antitrust issue), excessive diversification, the force of bargaining to consumers is rising and environmental issue. Not only being huge influence of shareholders and employees in belonged subsidiary but also deeply affect the interests of consumer and the right of general public. The animal health companies are mostly attached to the human pharmaceutical industry, although the proportion of the parent corporation isn’t so high, but cause many problems of animal welfare and health, even impact on food supply, protein sources and human health, can cause in a certain of influence on human society as well. The purpose of study is to elaborate the issues of mergers and acquisitions on the pharmaceutical industry. Then the present study analyzes the history of development and behavior of mergers & acquisition activity of top three by case study method. Finally, taking the process of joint venture and M&A of B group in Taiwan for example to make the description and compared. The content recount the back ground of animal health and biotech industry. Most of Taiwanese plants are facing the difficulties in the limited market and situation of lack the technical and financial support. But their competitiveness will get greatly enhanced by import the production management system if receive the investment or joint ventures from foreigner firms once and will describe the process detailed in this study.