Astra + Zeneca (A): "Merger of equals"
Consolidations and paradigm shifts in the pharmaceutical industry in the 1990s induced Astra and Zeneca to review potential merger partners. Both companies were confident of surviving on their own, banking on organic growth. However, escalating costs in R&D and sales and marketing, patent expiries, benefits of scale, and pressure on prices made this increasingly difficult to sustain. After 6 months of discussion, Astra and Zeneca announced a “merger of equals” in December 1998. This first part of a two-part case series looks at some of the “black box issues,” how they were negotiated to ensure that this was indeed a merger of equals and the final outcome of the negotiations.
September 1998
Cranfield University
Wharley End Beds MK43 0JR, UK
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Harvard Business School Publishing
60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
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NUCB Business School
1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]
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- Astra + Zeneca (A): "Merger of equals"
- Astra + Zeneca (B): Forming a new company
- Astra + Zeneca (A): "Merger of equals"
- Astra + Zeneca (B): Forming a new company
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
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