How financialisation shapes productive models in pharmaceutical industry: the domination and contradictions of the blockbuster conception of control (In French)
AbstractThis article analyses the interaction between competition, productive models and financialisation of the main pharmaceutical companies. After having studied the institutional specificities and the constraints that shape productive models, we analyze how transformations of ownership structures and corporate governance are connected with institutional relationships of the industry, leading to the emergence of a conception of control inciting dominant firms to adopt models focused on the most profitable dugs (blockbusters). This article converges with the conclusion of Palpacuer et al. (2007) on the agrofood industry case. Finally, the article analyzes the main causes of the recent crisis of these models.
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Bibliographic InfoPaper provided by Groupe de Recherche en Economie Théorique et Appliquée in its series Cahiers du GREThA with number 2009-01.
Date of creation: 2009
Date of revision:
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financialisation; productive model; pharmaceutical industry;
Other versions of this item:
- Matthieu MONTALBAN (GREThA-GRES), 2009. "How financialisation shapes productive models in pharmaceutical industry: the domination and contradictions of the blockbuster conception of control (In French)," Cahiers du GRES 2009-01, Groupement de Recherches Economiques et Sociales.
- L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-01-24 (All new papers)
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