Влияние сделок слияния и поглощения на цены акций фармацевтических компаний
The article is dedicated to influence of mergers and acquisitions on stock prices of pharmaceutical companies. Due to active development of pharmaceutical sector and crucial changes in the industry after global strategic deals, there is an uprising interest to the topic. The outcome of the survey helps to investigate previously unstudied features of such strategic contracts for stocks price setting in pharmaceutical sector.
The paper gives common characteristics of the indistry, mergers and acquisitions (which took place on the US market). Event studies method is used to research mergers and acquisitions, resulting in abnormal returns and trading volumes. Obtained results make it possible to formulate conclusions about investor reaction on strategic deals of pharmaceutical companies.