TY - JOUR A1 - Schuhmacher, Alexander A1 - Grinchenko, Kyrylo A1 - Gassmann, Oliver A1 - Hartl, Dominik A1 - Hinder, Markus T1 - A case study assessing the impact of M&A and licensing on FDA drug approvals of leading pharmaceutical companies JF - Drug Discovery Today N2 - Despite a recent increase in FDA new drug approvals, leading pharmaceutical companies continue to face R&D productivity challenges. This highlights the need to better understand the context of their R&D concepts and related R&D outputs. Consequently, we conducted a systematic assessment of the impact of R&D expenditures, R&D intensities, mergers & acquisitions (M&A) deals and licensing agreements on new drug approvals of leading pharmaceutical companies between 2012 and 2021. Our analysis provides key insights into differentiating R&D factors: whereas R&D expenditures and the number of M&A deals correlate with the number of new drug approvals, our analysis shows no correlation with R&D intensity or the number of licensing agreements. UR - https://doi.org/10.1016/j.drudis.2025.104306 Y1 - 2025 UR - https://doi.org/10.1016/j.drudis.2025.104306 UR - http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:bvb:573-57756 SN - 1878-5832 VL - 30 IS - 3 PB - Elsevier CY - Amsterdam ER -