Assessing the Influence of Mergers and Acquisitions on Innovation and Market Competitiveness in the Pharmaceutical Industry: Global Trends and Strategic Implications for Turkey
Abstract
This study examines the impact of mergers and acquisitions (M&A) on innovation and competitiveness within the pharmaceutical sector, a critical industry characterized by intensive R&D and dynamic market conditions. Using a panel dataset spanning multiple countries and years, relationships among key indicators such as R&D expenditure, patent applications, market share changes, and M&A activity are analyzed. Advanced econometric techniques, including panel regression models and Granger causality tests, are employed to explore both direct effects and temporal dynamics. The findings reveal a complex interplay between M&A activities and innovation outputs, highlighting bidirectional causality and contextual influences. By providing empirical evidence on the dual role of M&A as both an enabler and potential inhibitor of innovation, this research contributes to the ongoing discourse on sustainable growth strategies in the pharmaceutical sector. The study offers actionable insights for policymakers and stakeholders, emphasizing the importance of balancing innovation promotion with competitive dynamics.
Keywords
References
- Breusch, T. S., & Pagan, A. R. (1979). A Simple Test for Heteroscedasticity and Random Coefficient Variation. Econometrica, 47(5), 1287-1294.
- Cassiman, B., Colombo, M., Garrone, P., & Veugelers, R. (2005). The impact of M&A on the R&D process: An empirical analysis of the role of technological- and market-relatedness. Research Policy, 34(2), 195–220. https://doi.org/10.1016/j.respol.2005.01.002
- DeCarlo, L. T. (1997). On the meaning and use of kurtosis. Psychological Methods, 2(3), 292–307.
- Dickey, D. A., & Fuller, W. A. (1979). Distribution of the Estimators for Autoregressive Time Series with a Unit Root. Journal of the American Statistical Association, 74(366), 427-431.
- Durbin, J., & Watson, G. S. (1951). Testing for Serial Correlation in Least Squares Regression. Biometrika, 38(1-2), 159-177.
- Enders, W. (2014). Applied Econometric Time Series (4th ed.). Wiley.
- Groeneveld, R. A., & Meeden, G. (1984). Measuring skewness and kurtosis. The Statistician, 33(4), 391-399.
- Gujarati, D. N., & Porter, D. C. (2009). Basic Econometrics (5th ed.). McGraw-Hill Education.
Details
Primary Language
English
Subjects
Pharmacy Management
Journal Section
Research Article
Publication Date
May 11, 2026
Submission Date
March 3, 2025
Acceptance Date
April 18, 2025
Published in Issue
Year 2026 Volume: 30 Number: 3
APA
Tembelo, H., & Özyeşil, M. (2026). Assessing the Influence of Mergers and Acquisitions on Innovation and Market Competitiveness in the Pharmaceutical Industry: Global Trends and Strategic Implications for Turkey. Journal of Research in Pharmacy, 30(3), 783-794. https://doi.org/10.12991/jrespharm.1650051
AMA
1.Tembelo H, Özyeşil M. Assessing the Influence of Mergers and Acquisitions on Innovation and Market Competitiveness in the Pharmaceutical Industry: Global Trends and Strategic Implications for Turkey. J. Res. Pharm. 2026;30(3):783-794. doi:10.12991/jrespharm.1650051
Chicago
Tembelo, Havane, and Mustafa Özyeşil. 2026. “Assessing the Influence of Mergers and Acquisitions on Innovation and Market Competitiveness in the Pharmaceutical Industry: Global Trends and Strategic Implications for Turkey”. Journal of Research in Pharmacy 30 (3): 783-94. https://doi.org/10.12991/jrespharm.1650051.
EndNote
Tembelo H, Özyeşil M (May 1, 2026) Assessing the Influence of Mergers and Acquisitions on Innovation and Market Competitiveness in the Pharmaceutical Industry: Global Trends and Strategic Implications for Turkey. Journal of Research in Pharmacy 30 3 783–794.
IEEE
[1]H. Tembelo and M. Özyeşil, “Assessing the Influence of Mergers and Acquisitions on Innovation and Market Competitiveness in the Pharmaceutical Industry: Global Trends and Strategic Implications for Turkey”, J. Res. Pharm., vol. 30, no. 3, pp. 783–794, May 2026, doi: 10.12991/jrespharm.1650051.
ISNAD
Tembelo, Havane - Özyeşil, Mustafa. “Assessing the Influence of Mergers and Acquisitions on Innovation and Market Competitiveness in the Pharmaceutical Industry: Global Trends and Strategic Implications for Turkey”. Journal of Research in Pharmacy 30/3 (May 1, 2026): 783-794. https://doi.org/10.12991/jrespharm.1650051.
JAMA
1.Tembelo H, Özyeşil M. Assessing the Influence of Mergers and Acquisitions on Innovation and Market Competitiveness in the Pharmaceutical Industry: Global Trends and Strategic Implications for Turkey. J. Res. Pharm. 2026;30:783–794.
MLA
Tembelo, Havane, and Mustafa Özyeşil. “Assessing the Influence of Mergers and Acquisitions on Innovation and Market Competitiveness in the Pharmaceutical Industry: Global Trends and Strategic Implications for Turkey”. Journal of Research in Pharmacy, vol. 30, no. 3, May 2026, pp. 783-94, doi:10.12991/jrespharm.1650051.
Vancouver
1.Havane Tembelo, Mustafa Özyeşil. Assessing the Influence of Mergers and Acquisitions on Innovation and Market Competitiveness in the Pharmaceutical Industry: Global Trends and Strategic Implications for Turkey. J. Res. Pharm. 2026 May 1;30(3):783-94. doi:10.12991/jrespharm.1650051