Kheng Guan Toh Innovation is the act of introducing something new or doing something in a different way. Innovation in business differs from creativity in that the latter is generally associated with the generation of new ideas. In contrast, innovation refers to taking those new ideas and actually implementing them in the marketplace. Thus, creativity is simply one element of the innovation process through which new ideas lead to new products, procedures, or services.
The following will review some of the different kinds of financial transactions that occur when companies engage in mergers and acquisitions activity. After the merger, the acquired company ceases to exist and becomes part of the acquiring company.
For example, in a merger deal occurred between Digital Computers and Compaq whereby Compaq absorbed Digital Computers. In a simple acquisitionthe acquiring company obtains the majority stake in the acquired firm, which does not change its name or legal structure.
A consolidation creates a new company. Stockholders of both companies must approve the consolidation, and subsequent to the approval, they receive common equity shares in the new firm.
|PFIZER'S EARLY HISTORY||Pfizer's Lipitor ranks as the best-selling drug in the world. Pfizer merges with Pharmacia Corp.|
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In a tender offerone company offers to purchase the outstanding stock of the other firm at a specific price. While the acquiring company may continue to exist — especially if there are certain dissenting shareholders — most tender offers result in mergers. In a purchase of assets, one company acquires the assets of another company.
The company whose assets are being acquired must obtain approval from its shareholders. The purchase of assets is typical during bankruptcy proceedings, where other companies bid for various assets of the bankrupt company, which is liquidated upon the final transfer of assets to the acquiring firm s.
In a management acquisition, also known as a management-led buyout MBOthe executives of a company purchase a controlling stake in a company, making it private.
Often, these former executives partner with a financier or former corporate officers in order to help fund a transaction. For example, inDell Corporation announced that it was acquired by its chief executive manager, Michael Dell.
Although they are often uttered in the same breath and used as though they were synonymous, the terms merger and acquisition mean slightly different things.
A merger occurs when two separate entities usually of comparable size combine forces to create a new, joint organization in which — theoretically — both are equal partners.
For example, both Daimler-Benz and Chrysler ceased to exist when the two firms merged, and a new company, DaimlerChrysler, was created. An acquisition refers to the purchase of one entity by another usually, a smaller firm by a larger one.
A new company does not emerge from an acquisition; rather, the acquired company, or target firmis often consumed and ceases to exist, and its assets become part of the acquiring company. Acquisitions — sometimes called takeovers — generally carry a more negative connotation than mergers, especially if the target firm shows resistance to being bought.
For this reason, many acquiring companies refer to an acquisition as a merger even when technically it is not. Legally speaking, a merger requires two companies to consolidate into a new entity with a new ownership and management structure ostensibly with members of each firm.
An acquisition takes place when one company takes over all of the operational management decisions of another.Counterfeit consumer goods are goods, often of inferior quality, made or sold under another's brand name without the brand owner’s authorization.
Sellers of such goods may infringe on either the trademark, patent or copyright of the brand owner by passing off its goods as made by the brand owner.: 3 Counterfeit products made up 5 to 7% of world trade in , and in cost an estimated 2.
Pharmaceutical Industry Analysis There are multiple reasons for why only four major companies own almost half of the total industry’s revenues. Januvia®, and Zocor® while Pfizer Inc.
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Benefits of Attending. Top ten reasons for attending ARC's Industry Forum Europe: Learn about new technologies, new practices, and emerging standards. Probability Of Success: Large Molecules Maintain Higher Rates Than Small Molecules - KMR.
Mergers and acquisitions (M&A) is a general term that refers to the consolidation of companies or assets through various types of financial transactions.
Biotech dramatically has improved the success of product development in the pharmaceutical industry and has become a cornerstone in new and novel product development. The biotech focus that has existed for the past 30 years and still remains is “innovation” in medical science and patient care. On July 3, the Financial Times reported that Pfizer Inc. (NYSE: PFE) is increasing the prices of of its drugs by around 10 percent. The drug giant’s ability to raise prices sets the stage. - Macroeconomic Forecast Pfizer, Inc. Abstract This paper is a Macroeconomic Forecast Outline of Pfizer, Inc. This outline will identify main economic indicators for Pfizer as a business entity and as a representative of pharmaceutical industry.