How financialisation shapes productive models in pharmaceutical industry: the domination and contradictions of the blockbuster conception of control (In French)

Matthieu MONTALBAN (GREThA-GRES)

Cahiers du GRES from Groupement de Recherches Economiques et Sociales

Abstract: This article analyses the interaction between competition, productive models and financialisation of the main pharmaceutical companies. After having studied the institutional specificities and the constraints that shape productive models, we analyze how transformations of ownership structures and corporate governance are connected with institutional relationships of the industry, leading to the emergence of a conception of control inciting dominant firms to adopt models focused on the most profitable dugs (blockbusters). This article converges with the conclusion of Palpacuer et al. (2007) on the agrofood industry case. Finally, the article analyzes the main causes of the recent crisis of these models.

Keywords: financialisation; productive model; pharmaceutical industry (search for similar items in EconPapers)
JEL-codes: L65 G32 G34 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cfn
Date: 2009

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Persistent link: http://EconPapers.repec.org/RePEc:grs:wpegrs:2009-01

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