11. The pharmaceutical company, Bristol-Myers Squibb purchased 17% of the common stock of ImClone in order to gain access to new drug products being developed through biotechnology. This is an example of A) Quasi-integration B) Capital structure C) Logical incrementalism D) Cost-leadership strategy 12. In 1990, Roche, a Swiss pharmaceutical company, initially invested $2.1 billion to purchase a controlling interest in the biotech start-up Genentech. In 2009, after witnessing the success of Genentech's drug discovery and development projects, Roche spent $47 billion to purchase the remaining minority interest in Genentech, making it a wholly owned subsidiary. Roche was pleased to take advantage of the flexibility of waiting and watching how Genentech would perform. In terms of strategic alliances, this scenario best indicates A) The real-options perspective. B) Co-opetition. C) Explicit knowledge. D) The stakeholder strategy 13. Which of the following accurately describes a common difference between a merger and an acquisition? A) A merger tends to include mostly small firms; an acquisition can often involve large firms. B) A merger involves the combination of three or more firms; an acquisition involved the combination of two firms. C) A merger involves firms of different size; an acquisition involved firms of the same size. D) A merger tends to be friendly, an acquisition can be friendly or unfriendly