Résumé
The present paper is an attempt to examine the impact of Merger & Acquisitions (M&As) on ?nancial performance of industrial Credit and Investment Corporation of India (ICICI). The Bank of Rajasthan was merged with ICICI on August 13, 2010. The analysis was done with the help of various descriptive and inferential statistical techniques by taking a period of three years before and three years after merger using CAMEL model. The results revealed that there is no signi?cant impact of merger of Bank of Rajasthan on capital adequacy, assets quality, management ef?ciency and liquidity of ICICI. However, a signi?cant positive impact on return on assets and net pro?ts to average assets was noticed after M&As.
Résumé
OBJECTIVE: To summarize and analyze the representative cases of large-scale mergers and acquisitions in the global pharmaceutical industry in order to form a reference for domestic pharmaceutical companies to use for reference in the scientific development of M&A strategy and transformation.METHODS: By reviewing relevant literature and information at home and abroad, and combining specific case studies, the status and trends of mergers and acquisitions in the global pharmaceutical industry in recent years were analyzed.RESULTS AND CONCLUSION: In recent years, the number of mergers and acquisitions cases in the global pharmaceutical industry is numerous, and the amount involved in mergers and acquisitions is relatively large. From 2013 to 2015, the number and amount of M&A transactions in global pharmaceutical companies are on the rise. In 2015, it became the year of mergers and acquisitions in the pharmaceutical industry. This shows that some pharmaceutical companies are facing patent expiration of their major profitable products. The new drug development process has encountered many difficulties and faced pressure to expand product lines, expand market share, and increase core competitiveness, further contributing to corporate mergers and reorganizations. From 2016 to 2017, the number and amount of M&A transactions declined, and M&A activities were different from the target audience, M&A motives and methods, and the companies were more cautious. This article discusses mergers and acquisitions trends in the global pharmaceutical industry, major businesses involved in mergers and acquisitions, and active pharmaceutical companies and their characteristics, and analyzes the development trends of global pharmaceutical industry mergers and acquisitions for domestic pharmaceutical companies and industry managers to reference.
Résumé
Objective To study the feasibility of applying electronic cleaning to intestinal contents tagging by diatrizoate meglumine for single-source dual-energy CT colonography with sequential acquisitions and volume scanning.Methods Twenty-four volunteers had fine effect of intestinal contents tagging by diatrizoate meglumine,good colorectal distension effect,fine image quality of dual-energy fusion colorectal images,and with informed consents were enrolled in this study.The single-source dual-energy CT colonography with sequential acquisitions and volume scanning was performed with an Acquilion ONE 320 row CT scanner,tube voltage 135 kVp/80 kVp.The intestinal contents conducted the dual-energy electronic cleaned based on decomposition of intestinal contents tagging by diatrizoate meglumine,soft tissue and air.The intestinal contents in one segment of intestinal lumen being 100％ electronically cleaned served as the basic standard,the electronic cleaning effects were divided into the 5 grades:excellent,good,moderate,fair and poor;and grade 1-3 were effective fecal electronic cleaning.Results The grade 1,2,3,4,5 of electronic cleaning effect for solid as the main intestinal contents were 22.2％,53.3％,17.8％,6.7％ and 0％ respectively;and which of electronic cleaning effect for liquid as the main intestinal contents were 47.5％,47.5％,5.0％,0％ and 0％ respectively.The together total effective electronic cleaning of intestinal contents was 97.9％ and the electronic cleaning effect was good.Conclusion Electronic cleaning could be used in the intestinal contents tagging by diatrizoate meglumine for single-source dual-energy CT colonography with sequential acquisitions and volume scanning.
Résumé
This paper analyzed the necessity of due diligence in hospital mergers and acquisitions from the perspective of two trading parties,and summarized such roadblocks in hospital due diligence,as lack of awareness,information asymmetry and lack of co-ordination of the investigated.Going through the five main aspects of due diligence in hospital mergers and acquisitions,including business due diligence,financial due diligence,human resource due diligence,legal due diligence and hospital environmental and occupational safety due diligence,the authors put forward pertinent suggestions and countermeasures on efficient due diligence work.
Résumé
O artigo discute as características e tendências da indústria farmacêutica mundial e brasileira no século XXI, suas transformações e tendências setoriais, e seus atores. Foram utilizadas a pesquisa qualitativa e a técnica de análise documental, que permitiram verificar que, no início do século XX, a indústria farmacêutica mundial apresentava estrutura homogênea e oferta reduzida de seus produtos. Após a Segunda Guerra Mundial, houve fortalecimento da produção de medicamentos baseados na síntese química e diversificação da oferta e demanda por medicamentos. O mercado farmacêutico passou da competição mais ampla para uma de caráter oligopólico. Nos anos 1990, o portfólio dessas indústrias ampliou-se para áreas de saúde animal, produtos de higiene/cuidado pessoal e de nutrição/dietética. Na década de 2000, a indústria farmacêutica mundial intensificou esse processo, e devido à expiração das patentes dos medicamentos, se concentrou no segmento dos genéricos, adquirindo empresas nos mercados emergentes. O setor farmacêutico brasileiro seguiu os moldes da indústria farmacêutica mundial e passou a investir na produção de medicamentos genéricos, fitoterápicos e no avanço dos biotecnológicos, com o apoio financeiro público do BNDES. Esse contexto continua a exigir avanços na inovação em saúde, e reclama da regulação sanitária o enfrentamento dos desafios advindos dessa grande transformação. Cabe destacar os desafios relativos aos custos dos medicamentos e de seus fortes impactos sobre os sistemas de saúde, em especial aqueles de caráter mais inclusivo...
This article discusses the characteristics and trends of the global and Brazilian pharmaceutical industry in the 21st century, its transformations and industry trends, and its actors. Qualitative research and the technique of document analysis allowed us to check that in early 20th century, the global pharmaceutical industry was characterized by homogeneous structure and reduced supply of products. After the Second World War, there was strengthening of the production of medicines based on chemical synthesis and diversification of supply and demand for drugs. The pharmaceutical market has shifted from broader competition for one of oligopolistic character. In the 1990s, these industries' portfolio expanded to areas of animal health, hygiene / personal care and nutrition / dietetics. In the 2000s, the global pharmaceutical industry intensified this process, and due to the expiration of patents on medicines, focused on the generic segment, acquiring companies in emerging markets. The Brazilian pharmaceutical industry followed the lines of the global pharmaceutical industry and started to invest in the production of generic medicines, herbal and advancement of biotechnology, with public financial support of the BNDES. This context continues to demand advances in health innovation, and demands of the health regulation to face the challenges arising from this great transformation. It is worth mentioning the challenges relating to costs of drugs and their strong impact on health systems, particularly those of more inclusive character...