Main Article Content

Authors









This article describes global transformations and restructurings in the pharmaceutical industry related to mergers and acquisitions, patent policy and R&D in the context of the global emergence of COVID-19 and the search for a vaccine cure. A documentary analysis of cases and a literature review were carried out. The main findings seem to reveal a crisis of creativity and productivity in the sector about the discovery of new curative principles and the launch of new drugs. This situation is combined with increasing patent expiry and competition from generic companies. The emergence of the coronavirus and the very rapid development of vaccines for its cure or mitigation seem to have provided a new opportunity for this science-based branch of the industry.









Carlos Alberto Mejía, Universidad del Valle, Cali, Colombia

Magister en Sociología.

Mejía, C. A. (2023). Mergers and Acquisitions, Patents and R&D in the Pharmaceutical Industry During the COVID-19 Emergency. Sociedad Y Economía, (48), e10112012. https://doi.org/10.25100/sye.v0i48.12012

Anand, G., Gray, J. y Siemsen, E. (2012). Decay, shock, and renewal: Operational routines and process entropy in the pharmaceutical Industry. Organization Science, 23(6), 1700-1716. https://doi.org/10.1287/ orsc.1110.0709

Angell, M. (2004).The Truth About the Drug Companies: How They Deceive Us and What to Do About It. Random House Trade Paperback. New York.

Banerjee, T. y Nayak, A. (2015). Comparing Domestic and Cross-Border Mergers and Acquisitions in the Pharmaceutical Industry. Atlantic Economic Journal, 43(4), 489-499. https://doi.org/10.1007/s11293- 015-9476-0

Belcher, T. y Nail, L. (2000). Integration problems and turn around strategies in a cross-border merger. A clinical examination of the Pharmacia-Upjohn merger. International Review of Financial Analysis, 9(2), 219-234. https://doi.org/10.1016/S1057-5219(00)00034-X

Boekestein, B. (2009). Acquisitions reveal the hidden intellectual capital of pharmaceutical companies. Journal of Intellectual Capital, 10(3), 389-400. https://doi.org/10.1108/14691930910977806

Bourdieu, P. (2003). El oficio del científico, ciencia de la ciencia y reflexividad. Editorial Anagrama. Bradfield, R. y El-Sayed, H. (2009). Four scenarios for the future of the pharmaceutical industry. Technology

Analysis and Strategic Management, 21(2), 195-212. https://doi.org/10.1080/09537320802625280

Cai, Y., Zhang, J., Xiao, T., Lavine, C. L., Rawson, S., Peng, H., Zhu, H., Anand, K., Tong, P., Gautam, A., Lu, S., Sterling, S. M., Walsh, R. M. Jr., Rits-Volloch, S., Lu, J., Wesemann, D. R., Yang, W., Seaman, M. S. y Chen, B. (2021). Structural basis for enhanced infectivity and immune evasion of SARS-CoV-2 variants. Science, 373, 642-648. https://doi.org/10.1126/science.abi9745

Celis-Ospina, J. C., Rendón-Acevedo, J. A., Mejía-Sanabria, C., Mosquera-Vera, C., Garcés-Correa, S. y Rodríguez-Barrera, D. F. (2021). Cambios productivos, sociotécnicos y alternativas de regulación en la Colombia de la pandemia (2020-2021). En R. Bonilla (Dir.), Misión Alternativa de Empleo e Ingresos. Propuestas para una Colombia incluyente (pp. 468-541). Ediciones Escuela Nacional Sindical.

Chandler, A. (2005). Shaping the industrial century, the remarkable story of the evolution of the modern chemical and pharmaceutical industries. Harvard University Press. https://doi. org/10.4159/9780674029378

Chao, C. K., Hu, H., Zhang, L. y Wu, J. (2016). Managing the challenges of pharmaceutical patent expiry: a case study of Lipitor. Journal of Science and Technology Policy Management, 7(3), 258-272. https://doi. org/10.1108/JSTPM-12-2015-0040

Cohen, J. (2020). Chinese researchers reveal draft genome of virus implicated in Wuhan pneumonia outbreak. Science. https://www.sciencemag.org/news/2020/01/chinese-researchers-reveal-draft-genome-virus- implicated-wuhan-pneumonia-outbreak

Comanor, W. S. y Scherer, F. M. (2013). Mergers and innovation in the pharmaceutical Industry. Journal of Health Economics, 32(1), 106-113. https://doi.org/10.1016/j.jhealeco.2012.09.006

Coriat, B. (2002). Le nouveau régime américain de la propriété intellectuelle – Contours et caractéristiques clés. Revue d’economie industrielle, (99 spécial), 17-32. https://doi.org/10.3406/rei.2002.1822

Corum, J. y Zimmer, C. (2021). How the Novavax vaccine works. The New York Times. https://www. nytimes.com/interactive/2020/health/novavax-covid-19-vaccine.html

Crespo-Garay, C. (2021). Las cinco pandemias más letales de la historia de la humanidad. National Geographic. https://www.nationalgeographic.es/historia/2020/11/cinco-pandemias-mas-letales-de- historia-de-humanidad

Cuppini, L. (2021). Novavax: así es la vacuna contra el Covid a base de proteínas que muestra eficacia contra las variantes. El Mundo. https://www.elmundo.es/ciencia-y-salud/ salud/2021/08/06/610cc86221efa0a0018b45dd.html

Dearden, N. (2021). Big Pharma’s finest hour? Eurozine. https://www.eurozine.com/big-pharmas-finest- hour/

Dierks, R. M. L., Bruyère, O. y Reginster, J.-Y. (2018). Critical analysis of valuation and strategical orientation of merger and acquisition deals in the pharmaceutical industry. Expert Review of Pharmacoeconomics and Outcomes Research, 18(2), 147-160. https://doi.org/10.1080/14737167.2018.1417040

Financial Times (2012). Pharma tries to avoid falling off ‘patent cliff.’ Impending expiries fuel flurry of deals. Andrew Jack in London MAY 6 2012 https://www.ft.com/content/572ea510-9452-11e1-bb47- 00144feab49a

Foucault, M. (2002). Vigilar y castigar, nacimiento de la prisión. Siglo XXI Editores.

Gabriel, R. (1997). Increased use of outside contractors in drug development. Clinical Research and Regulatory

Affairs, 14(3-4), 243-254. https://doi.org/10.3109/10601339709080082

Gilbert, S. y Green, C. (2021). Vaxxers, the inside story of the Oxford AstraZeneca vaccine and the race

against the virus. Hodder & Stoughton An Hachette UK Company.

Gray, J. (2020). Adiós globalización, empieza un mundo nuevo. O por qué esta crisis es un punto de inflexión en la historia. El País. https://elpais.com/ideas/2020-04-11/adios-globalizacion-empieza-un-mundo- nuevo.html

Harvey, D. (1998). La condición de la posmodernidad, investigación sobre los orígenes del cambio cultural. Amorrortu Editores.

Hassan, M., Patro, D. K., Tuckman, H. y Wang, X. (2007). Do mergers and acquisitions create shareholder wealth in the pharmaceutical industry? International Journal of Pharmaceutical and Healthcare Marketing, 1(1), 58-78. https://doi.org/10.1108/17506120710740289

Holguín, G. (2014). La Guerra contra los medicamentos genéricos. Penguin Random House Grupo Editorial. Honneth, A. (2020). Will the pandemic teach us democracy? An interview with Axel Honneth. Eurozine.

https://www.eurozine.com/will-the-pandemic-teach-us-democracy/

Industrial R&D: Life sciences. (2010). Reading for the R and D Community, 52 (7), 42-43.

Johnson, C. Y. (2020). A gamble pays off in ‘spectacular success’: How the leading coronavirus vaccines made it to the finish line. The Washington Post. https://www.washingtonpost.com/health/2020/12/06/ covid-vaccine-messenger-rna/

Kanavos, P. y Angelis, A. (2014). Acquiring Pharmaceutical Industry Assets in the UK: 1+1=1? Pharmaceutical Medicine, 28(5), 245-248. https://doi.org/10.1007/s40290-014-0066-2

Karwal, V. P. (2009). Mergers & acquisitions update: Changing the strategic paradigm in the global generics market. Journal of Generic Medicines, 6(4), 315-322. https://doi.org/10.1057/jgm.2009.21

Latour, B. (1987). Science in action, how to follow scientists and engineers through society. Harvard University Press.

Le Roy Ladurie, E. (2017). Un concepto: la unificación microbiana del mundo (siglos XIV al XVII). Revista Historias, 21, 33-70. https://www.estudioshistoricos.inah.gob.mx/revistaHistorias/wp-content/uploads/ historias21-33-70.pdf

Lloyd, S. y Sowlay, M. (2010). The current M&A environment and its strategic implications for emerging biotherapeutics companies. Journal of Commercial Biotechnology, 16(2), 109-119. https://doi. org/10.1057/jcb.2009.35

MacKenzie, D. y Caliskan, K. (2020). Of viruses and men. The dangerous pandemic in the social sciences. Eurozine. https://www.eurozine.com/of-viruses-and-men/

Marti, O. (2004). Sanofi paga 54.500 millones por Aventis para crear la tercera farmacéutica mundial. El País. https://elpais.com/diario/2004/04/27/economia/1083016814_850215.html

Marx, K. (1973). El Capital (Vol. 1). Fondo de Cultura Económica.

Mejía, C. y Martínez, E. (2020). Globalización e industria farmacéutica, transformaciones del proceso de trabajo y de la producción en una firma del Valle del Cauca, 1994-2015. Programa Editorial de la Universidad del Valle.

Mittra, J. (2007). Life, science, innovation and the restructuring of the pharmaceutical industry: Merger, acquisition and strategic alliance behaviour of large firms. Technology Analysis and Strategic Management, 19(3), 279-301. https://doi.org/10.1080/09537320701281540

Musyuni, P., Maru, A., Tripathi, S. K., Bhatt, H. y Chaudhary, P. (2011). An overview of patent term extension grounds in different countries and significance for pharmaceutical industry. Research Journal of Pharmacy and Technology, 4(10), 1493-1498. https://rjptonline.org/AbstractView.aspx?PID=2011-4-10-1

Orsenigo, L. (1989). The emergence of biotechnology: institutions and markets in industrial innovation. St. Martin’s Press.

Our World in Data. (s.f.). Coronavirus (COVID-19) Vaccinations. https://ourworldindata.org/explorers/ coronavirus-data-explorer?facet=none&country=USA~BRA~JPN~DEU~COL&Interval=7-day+rolling+averag e&Relative+to+Population=true&Color+by+test+positivity=false&Metric=Confirmed+deaths

Perelman, M. (2014). The Political Economy of Intellectual Property. Socialism and Democracy, 28(1), 24-33. https://doi.org/10.1080/08854300.2013.869873

Pignarre, P. (2005). El gran secreto de la industria farmacéutica. Editorial Gedisa S. A.

Piketty, T. (2019). Capital e Ideología. Editorial Planeta Colombiana – Ariel.

Po, A. L. W. (1998). Mega-mergers in the pharmaceutical industry: In whose interests? Pharmaco Economics, 14(4), 349-355. https://doi.org/10.2165/00019053-199814040-00002

Portafolio. (2012). Sanofi Aventis anunció la compra de Genfar. https://www.portafolio.co/negocios/ empresas/sanofi-aventis-anuncio-compra-genfar-113410

Pozzi, S. (2019). Una farmacéutica paga 270 millones en la primera demanda por la crisis de opiáceos en EE UU. El País. https://elpais.com/sociedad/2019/03/20/actualidad/1553102048_959398.html

Rhodes, J. (2021). How to make a vaccine: an essential guide for COVID-19 & beyond. The University of Chicago Press.

Rios, E. y Contreras, I. (2019). Rendimientos a escala en la industria farmacéutica mundial: La importancia de la evaluación de los gastos en fusiones y adquisiciones, 2012-2017. Análisis Económico, 34(85), 95-120. https://analisiseconomico.azc.uam.mx/index.php/rae/article/view/378

Rogers, R. S. (2000). Pharmaceuticals under pressure. Chemical and Engineering News, 78(3), 21-32. https:// doi.org/10.1021/cen-v078n003.p021

Rosenberg, N. (1999). Inside the black box: Technology and economics. Cambridge University Press.

Sánchez-Vallejo, M. A. (2021). La justicia de EE UU pone fin al contencioso contra Purdue Pharma por la crisis de los opioides. El País. https://elpais.com/sociedad/2021-09-01/la-justicia-de-ee-uu-pone-fin-al- contencioso-contra-purdue-pharma-por-la-crisis-de-los-opioides.html

Schacht, W. H. (2012). Drug patent expirations: Potential effects on pharmaceutical innovation. Library of Congress.

Scheidel, W. (2019). El gran nivelador, violencia e historia de la desigualdad desde la Edad de Piedra hasta el siglo XXI. Editorial Crítica – Planeta.

Schumpeter, J. A. (1979). La inestabilidad del capitalismo. En N. Rosenberg, Economía del cambio tecnológico (pp. 13-38). FCE.

Schumpeter, J. A. (1978). Teoría del desenvolvimiento económico. FCE.

Schumpeter, J. A. (1984). Capitalismo, socialismo y democracia. Editorial Folio.

Schwab, K. (2016). The Fourth Industrial Revolution. World Economic Forum.

Sheail, N. (2007). Encouraging synergies. EBR - European Biopharmaceutical Review, 12(80), 28-30.

Short, P. (2004). French drug makers face off. Chemical and Engineering News, 82(5), 6. https://doi. org/10.1021/cen-v082n005.p006

Song, C. H. y Han, J.-W. (2016). Patent cliff and strategic switch: exploring strategic design possibilities in the pharmaceutical industry. Springer Plus, 5(1), 692. https://doi.org/10.1186/s40064-016-2323-1

Steckelberg, A., Johnson, C., Florit, G. y Alcantara, C. (2021). These are the top coronavirus vaccines to watch. The Washington Post. https://www.washingtonpost.com/graphics/2020/health/covid-vaccine- update-coronavirus/

Therborn, G. (2012). El mundo, una guía para principiantes. Editorial Océano.

Thomas, S. (2001). Pharma faces cuts: How healthy is the UK pharmaceutical sector? Chemical Engineer,

(721), 3.

Tilly, Ch. (2004). Social movements, 1768-2004. Paradigm Publishers.

Vigario, A. (2014). AztraZeneca Pfizer, el poder británico paró la fusión. El Economista. https://www. eleconomista.es/empresas-finanzas/noticias/5824365/05/14/AstrazenecaPfizer-el-poder-britanico- paro-la-fusion.html

Wadman, M. (2020). Will a small, long-shot U.S. company end up producing the best coronavirus vaccine? Science. https://www.sciencemag.org/news/2020/11/will-small-long-shot-us-company-end-producing- best-coronavirus-vaccine

Wright, L. (2020). The plague, the mistakes and the struggles behind America’s coronavirus tragedy. The New Yorker. https://www.newyorker.com/magazine/2021/01/04/the-plague-year

Zhu, Z., Huang, W., Shen, W. y Ding, Y (2017). Why financial performance of the technology-based merger and acquisition is counterproductive to its market reaction: A study based on the listed Chinese pharmaceutical companies (ponencia). Portland International Conference on Management of Engineering and Technology, Honolulu, USA. https://doi.org/10.1109/PICMET.2016.7806604