Post-acquisition integration of small biotechnology firms in the structure of large pharmaceutical companies

This study deals with the post-acquisition integration of small biotechnology firms into the structure of large pharmaceutical companies. In this context, pharmaceutical companies face the paradox, that they need to integrate the biotechnology companies in some way in order to get access to the desired capabilities, whereas, on the other hand, they need to preserve the autonomy of the biotechnology company in order not to endanger the future existence of the desired capabilities. This study will analyze how pharmaceutical companies have handled this paradox by investigating five different M&A case studies with special regard to their specific post-acquisition integration activities. The overall aim of this study is to further the theory of post-acquisition integration by developing a framework for the development of a successful integration strategy of small high-technology companies into the structure of large companies.