A Study of the Performance of Successive Mergers and Acquisitions of WuXi PharmaTech's Pharmaceutical and Biotechnology Companies

With the development of the international CRO industry, the competition in the international CRO industry has become more and more intense, especially in the past decade, mergers and acquisitions and integration between multinational pharmaceutical companies are common. At the same time, the domestic CRO industry has also taken advantage of the M&A and integration of the international CRO industry to develop and grow rapidly and improve its competitive ability. As the largest domestic CRO company, WuXi AppTec is also continuously acquiring and integrating excellent enterprises in various industries, gradually forming a pattern of vertical integration. By collecting and collating the financial data during the acquisition cases, analysing the motivation of WuXi AppTec's M&A, and analysing the performance of the company by combining with the event study method, it can be seen that these consecutive mergers and acquisitions can indeed bring a positive and active impact on the development of WuXi AppTec. Further, the success of WuXi AppTec's successive M&A events can also provide reference experience for other pharmaceutical companies in China when they carry out successive M&A.