我國醫藥企業并購的財務風險及其防范

我國醫藥企業并購的財務風險及其防范

摘要

隨著全球經濟的一體化，并購在我國經濟發展中扮演著愈加重要的角色。醫藥產業作為人民生活保障的基礎之一，我國醫藥行業的整體現狀是企業數目多、規模小、研發能力弱、市場占有率低等，經過一系列大規模的并購，將有助于我國醫藥行業走出當前資源分散和競爭力低下的困境。但各種統計研究又表明，我國醫藥企業并購的失敗率一直居高不下。因此，對醫藥企業的并購風險進行分析并在此基礎上提出相應的風險防范策略，將有助于我國醫藥企業規避并購風險，提高并購的成功率，從而提升我國醫藥企業整體競爭力。本文首先介紹企業并購財務風險的相關概述。第二，分析了我國醫藥企業并購的基本現狀。包括我國醫藥企業發展現狀、發展前景和并購現狀三部分。第三，總結了我國醫藥企業并購財務風險的表現。第四，對我國醫藥企業并購存在的財務風險提出了防范措施。最后是結論部分，總結全文并得出研究的結論。

    關鍵詞：醫藥企業 企業并購 財務風險 風險防范

Our country medicine enterprise mergers and acquisitions of financial risk and its prevention

Abstract

With the integration of the global economy, mergers and acquisitions play an increasingly important role in China's economic development. Pharmaceutical industry as one of the foundations of the people's livelihood security, the status quo of China's pharmaceutical industry as a whole is more than the number of enterprises, small scale, weak R & D capabilities, and low market share, after a series of large-scale mergers and acquisitions will help the pharmaceutical industry in China out of the current plight of scattered resources and low competitiveness. Various statistical studies show that the failure rate of mergers and acquisitions of pharmaceutical companies in China have been high. Therefore, the pharmaceutical enterprises M & A risk analysis and risk prevention strategies based on pharmaceutical enterprises in China will help to avoid M & A risk and improve the success rate of mergers and acquisitions, so as to enhance the overall competitiveness of China's pharmaceutical enterprises. This paper first introduces the overview of the mergers and acquisitions of financial risk. Second, the analysis of the basic status of China's pharmaceutical mergers and acquisitions. Including the development status of China's pharmaceutical enterprises, development prospects and acquisitions of the status quo of three parts. Third, it summarizes the performance of China's pharmaceutical mergers and acquisitions of financial risks. Fourth, the financial risk of China's pharmaceutical mergers and acquisitions precautions. Finally, the concluding section concludes the paper and come to the conclusion of the study.

Key words: Pharmaceutical enterprise Enterprise mergers and acquisitions Financial risk Risk prevention

目錄

前言…………………………………………………………………………………1

一、企業并購財務風險的相關概述………………………………………………1

  （一）企業并購…………………………………………………………………1

 （二）財務風險…………………………………………………………………1

（三）企業并購的財務風險……………………………………………………3

二、我國醫藥企業并購的基本現狀………………………………………………3

  （一）我國醫藥企業發展現狀…………………………………………………3

  （二）我國醫藥企業未來的發展前景…………………………………………4

（三）我國醫藥企業并購現狀…………………………………………………5

三、我國醫藥企業并購財務風險的表現…………………………………………7

  （一）目標企業價值評估偏差大………………………………………………7

  （二）融資渠道安排不合理……………………………………………………8

  （三）支付方式選擇不當………………………………………………………8

  （四）財務整合難度大…………………………………………………………9

四、我國醫藥企業并購財務風險的防范措施……………………………………10

  （一）確定合理的并購目標，客觀評估目標企業價值………………………10

  （二）拓展融資渠道，保證融資結構合理化…………………………………11

  （三）合理選擇支付方式，實現并購支付方式多樣化………………………11

  （四）有效進行財務整合，轉移整合風險……………………………………12

結束語………………………………………………………………………………12

參考文獻……………………………………………………………………………13

致謝…………………………………………………………………………………14