生物医药产业创新研发能力分析

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1、ANALYSISOFINNOVATIONR&DCAPABILITYOFBIOPHARMACEUTICALINDUSTRYABSTRACTThisthesisanalyzedbiopharmaceuticalindustryfromaMacropointofview.Developingbiopharmaceuticalcapabilitieshasbeenmentionedbothinnationalboth11thand12ndFive-YearPlan，includingindustryde

2、velopment，innovationcapability，industryallianceandetc.Thereasonforacountry-levelinterestisnotonlythattheindustrycanhelpadvancenationalhealthcondition，butalsobringhugeeconomicgainstothesociety.Higherprofitoftheindustryalsomeansthathigherriskisinvolved

3、.Exceptforgovernmentalones，thebiggestriskcomesfromthemarket，tomaintainwhichbycontinuouslyproductinnovationwillbethebestandnecessaryway.Innovationcostanddifficultyhasrisenglobally，togetherwithgovernmentsupervisionintensity.However，forChina，itdoesn’tme

4、anallbad.Duetohighercost，megamultinationalcompanieshavetransferredtheirR&Dandproductiontoemergingmarkets，especially.ThoughChina’sstillame-toomarket，moreandmorelocalcompanieshavejoinedintheinnovationpipeline.万方数据Innationalplan，industryalliancewithacad

5、emyandresearchinstitutionsisemphasized.Chinahasdevelopedastrongresearchforce，whichhasalreadytakenawiderangeofnationalprojects.Fromindustrylevel，suchalliancebecomesmorecommonnowadays.Fromaregressionanalysisoffinancialdataoflistedcompanies，itshowsthati

6、nnovativeR&Dinputispositivelyrelatedwithassetandreturnonequitywhilenegativelyrelatedwithdebtlevel.Howevernostrongrelevanceisfoundwithcashflow.PositiverevelancesomehowsuggeststhattoChinabecomingstronginpharmaceuticsliespartlyinmarketintegration.Fromen

7、terprisepointofview,throughM&A,itcanseizeR&Dresourecesinlowerriskswhileexpandingmarket.Also,FirstMe-tooorMe-betterstrategycanhelpenhanceinnovativecapability.However,itputsupchallengeoncompanyresourcesandmanagementaswell.Lastbutnotleast,withtheinevita

8、lbeglobalizationofindustryvaluechain,activeparticipationinglobalcooperationaswellascompetitionandfullutilizationofglobalintellect,willbeanimmersevaluablelong-termgainforChinesepharmaceuticalcompanies.KEYWORDS:InnovativeR&D,regressionanalysis,M&A,Firs