The author explores the predominant strategic characteristics offourteen multinational corporations eleven of which are among the twentylargest pharmaceutical firms world-wide. She shows that, while nodominant pattern emerges with respect to strategic choices, firms with aUS focus appear less likely to be involved with diversification thantheir global dispersion counterparts, which are more likely to use acost minimization strategy aimed at generic and OTC product development.The extent of global dispersion for R&D has not yet shown anydifference in the traditional financial performance measures ofliquidity, asset management, debt management and profitably, asdetermined by t-test statistics. However, using the performance measureof total return to shareholders, US focus firms outperformed globaldispersion firms in 1988, but not in average returns for 1984-8. The USpharmaceutical industry is still US focused in its R&D activities,although much more globally dispersed in other value activities of itsbusiness
展开▼
