The Influence of French Pharmaceutical Companies’ Exports on Their Market Price per Share

The pharmaceutical market is one of the strategic sectors of the economy for any developed country. It provides a framework of health security, medical technology and drug supply. Sustainable development of the pharmaceutical industry improves the quality of life of the population.The modern pharmaceutical industry is high-tech and knowledge-intensive. The pharmaceutical industry is closely related to the chemical industry, engineering, agriculture, and other sectors of the economy. Thanks to researches, the pharmaceutical industry is one of the most promising sectors of the modern economy.In this situation, a special interest is the functioning of the pharmaceutical companies. By identifying the key factors of pharmaceutical companies’ success, you can draw conclusions about the direction in which we need to move in order to develop the pharmaceutical industry in the country.Development and deepening of the globalization process in the world today are opening up new markets and increasing international competition. This leads to the development of national firms. During the 20th century a large number of pharmaceutical companies entered the international market, and the trend towards internationalization traced so far. Companies open branches and representative offices in different countries, actively cooperate with international organizations. In such circumstances, identify the impact of exports on the success of pharmaceutical companies can be considered as justification for the relevance of this work.The aim of this work is to identify and assess the presence or absence of a relation between the dynamics of the publicly traded shares of French pharmaceutical companies and the value of their exports. To achieve this goal were the following objectives were set: analysis of the functioning of the pharmaceutical market; study ways to regulate the pharmaceutical market by the state; build a regression model; interpretation of results.The problem of determining the factors that influence the stock pricing studied quite extensively in the scientific community. But the interest of this work focuses on the situation in a particular industry. Researches devoted to the study of the financial success of pharmaceutical companies mainly conducted by foreign researchers. Most of the works focus on the impact of R&D expenditures on the market valuation of the company's success. Studies of how the value of exports affects the market value of the company have not been investigated. This explains the scientific novelty of this work. In this connection, it is possible to formulate the hypothesis of research as follows: there is a certain influence of the export value on the dynamics of shares of the French pharmaceutical company, which can be statistically validated and appreciated.To test this hypothesis the author built a regression model based on pub-lished reports of companies and stock quotes.Regression analysis showed a statistically significant, positive relation dynamic between the stock market price and changes in the exports value for French pharmaceutical companies.The results can be used to further improve the sensitivity analysis of the dynamics of shares to various determinants. This study may be useful in scientific and practical developments as to explore other dependencies in the activities of pharmaceutical companies, as well as for the analysis of relations in other industries. Work also can be used to analyze a similar dependence on the domestic pharmaceutical market.