No industry has seen as much fervent activity in the last 15 years as the pharmaceutical industry. Since Pfizer bought Warner-Lambert in January 2000, at least 10 deals with a value higher than 40 billion U.S. dollars have been made. Thanks to this transformation, the pharmaceutical industry became truly global, and the efforts to develop new drugs got much greater financial backing. Write a report on this industry transformation. Address the following issues in your paper:

1.) Critically analyse what drove this wave of mergers and acquisitions. Concentrate on synergies (both operational and financial), tax issues, research costs, marketing, and other kinds of drivers