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The Effects of Core Business Divestm...

Mao, Rebecca.

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The Effects of Core Business Divestments on Innovations within the Pharmaceutical Industry: A Public Policy Analysis.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	The Effects of Core Business Divestments on Innovations within the Pharmaceutical Industry: A Public Policy Analysis./
Author:	Mao, Rebecca.
Description:	131 p.
Notes:	Source: Dissertation Abstracts International, Volume: 75-10(E), Section: A.
Contained By:	Dissertation Abstracts International75-10A(E).
Subject:	Business Administration, General. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3625099
ISBN:	9781303995347

The Effects of Core Business Divestments on Innovations within the Pharmaceutical Industry: A Public Policy Analysis.
Mao, Rebecca.

The Effects of Core Business Divestments on Innovations within the Pharmaceutical Industry: A Public Policy Analysis. - 131 p.

Source: Dissertation Abstracts International, Volume: 75-10(E), Section: A.

Thesis (Ph.D.)--George Mason University, 2014.

A report by the Financial Times estimated that global divestments would increase by 90 percent and grow to become a 250 pound sterling industry ("The Cost of Pharma Divorce," 2012). Studying divestments in the pharmaceutical industry is critical because divestments can negatively impact innovations. Pharmaceuticals companies today are undertaking divestment of core as opposed to non-core business activities. Our research questions are: (i) what is the effect of core divestment on innovation and (ii) do knowledge brokering capabilities moderate this relationship? And what are the public policy implications? Thus, in this study, we theoretically introduce and empirically explore the construct `knowledge brokering' and examine its role in the relationship between divestment and innovation in the pharmaceuticals industry. Large pharmaceutical firms are strategically divesting to transform themselves from knowledge producers into "knowledge brokers" (Gassmann and Reepmeyer, 2005).

ISBN: 9781303995347Subjects--Topical Terms:

1017457
Business Administration, General.

The Effects of Core Business Divestments on Innovations within the Pharmaceutical Industry: A Public Policy Analysis.
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245 1 4 $a The Effects of Core Business Divestments on Innovations within the Pharmaceutical Industry: A Public Policy Analysis.
300 $a 131 p.
500 $a Source: Dissertation Abstracts International, Volume: 75-10(E), Section: A.
500 $a Adviser: Sonia Ketkar.
502 $a Thesis (Ph.D.)--George Mason University, 2014.
520 $a A report by the Financial Times estimated that global divestments would increase by 90 percent and grow to become a 250 pound sterling industry ("The Cost of Pharma Divorce," 2012). Studying divestments in the pharmaceutical industry is critical because divestments can negatively impact innovations. Pharmaceuticals companies today are undertaking divestment of core as opposed to non-core business activities. Our research questions are: (i) what is the effect of core divestment on innovation and (ii) do knowledge brokering capabilities moderate this relationship? And what are the public policy implications? Thus, in this study, we theoretically introduce and empirically explore the construct `knowledge brokering' and examine its role in the relationship between divestment and innovation in the pharmaceuticals industry. Large pharmaceutical firms are strategically divesting to transform themselves from knowledge producers into "knowledge brokers" (Gassmann and Reepmeyer, 2005).
520 $a In the pharmaceutical industry, each new generation of products finances the R&D of the next generation of drug candidates. A failure to innovate imposes penalties against future R&D investments (Kaitin, 2010). For this reason, a steady stream of innovations is especially important to public health and public policy. Pharmaceutical companies are divesting, in some cases, as a reaction to patent expirations (the loss of patent protection) but they are not exiting from the business of producing innovations (Kester, 2009).
520 $a Our results suggest that the pharmaceutical industry is moving away from the traditional business model of producing knowledge in-house to producing innovations via knowledge brokers in networks. In some cases, the industry's reaction to expiring patents is to externalize R&D risk via core divestments. Externalization of risk means shifting in-house risk to external entities. The new business model relies more on sourcing knowledge from outside of the firm within knowledge networks. This move to a different business model is an adaptive strategy for firm survival that reflects the collaborative nature of contemporary scientific research (Gassmann & Reepmeyer, 2005). Firms need to successfully absorb information from the outside scientific environment.
520 $a Knowledge brokering via divestments is a way that large brand-name pharmaceutical companies can simultaneously exploit their managerial capabilities and absorptive capabilities. There is always a tension between exploration and exploitation for firms. Exploration is looking for new things to do and new ways of doing them. Exploitation is continuing to do what firms already know how to do (Duane Ireland & Webb, 2007). Divesting core business via knowledge brokering is a way to explore emerging scientific opportunities while exploiting what large firms do well, which is managing the complicated FDA approval process. As long as pharmaceutical companies produce innovations, sourcing knowledge from outside of the firm benefits public health.
590 $a School code: 0883.
650 4 $a Business Administration, General. $3 1017457
650 4 $a Business Administration, Management. $3 626628
650 4 $a Health Sciences, Pharmacy. $3 1017737
650 4 $a Health Sciences, Public Health. $3 1017659
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710 2 $a George Mason University. $b Public Policy. $3 2093748
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