To share the risk and cost of developing new drugs.

To gain access to new markets.

To acquire new technologies.

To increase production capacity.

Equity joint venture

Contractual joint venture

Strategic alliance

Research and development joint venture

The strategic fit between the partners.

The financial resources of the partners.

The regulatory environment.

The intellectual property rights of the partners.

Increased market share.

Reduced costs.

Access to new technologies.

Enhanced innovation.

Disagreements between the partners.

Difficulty in integrating the operations of the partners.

Loss of control over the joint venture.

Increased regulatory scrutiny.

Pfizer and GlaxoSmithKline

Merck and Schering-Plough

Novartis and Roche

AstraZeneca and Eli Lilly

Bayer and Schering AG

Sanofi and Aventis

Johnson & Johnson and Merck

Bristol-Myers Squibb and ImClone Systems

Joint ventures will become more common as the pharmaceutical industry becomes more globalized.

Joint ventures will become less common as the pharmaceutical industry becomes more consolidated.

Joint ventures will remain an important part of the pharmaceutical industry landscape.

Joint ventures will disappear from the pharmaceutical industry.

Disagreements between the partners.

Difficulty in integrating the operations of the partners.

Loss of control over the joint venture.

Increased regulatory scrutiny.

By carefully selecting partners.

By clearly defining the roles and responsibilities of each partner.

By establishing a strong governance structure.

By communicating effectively between the partners.

An increase in the number of joint ventures between pharmaceutical companies and biotechnology companies.

An increase in the number of joint ventures between pharmaceutical companies and generic drug companies.

An increase in the number of joint ventures between pharmaceutical companies and contract research organizations.

All of the above.

To regulate joint ventures.

To promote joint ventures.

To provide financial assistance to joint ventures.

All of the above.

The potential for conflicts of interest.

The potential for anti-competitive behavior.

The potential for patient safety concerns.

All of the above.

By having clear and transparent agreements between the partners.

By establishing strong governance structures.

By promoting open communication between the partners.

All of the above.