A | STRATEGIC OR FINANCIAL SYNERGIES often play the most important roles in an M&A. Although combining cultures is frequently noted as an aspiration, in my experience, it may not always be prioritized, and if it is, it often loses steam once an organization becomes integrated. When the new organization develops a shared vision and culture from the outset, this can lead to better operating and financial performance, which ultimately allows employees to understand how they fit into the newly formed organization. While not all mergers consider these aspects, taking this approach ultimately helps leaders at both companies integrate more efficiently and effectively, which will positively influence corporate culture.
THOMAS WIGGANS is chairman and CEO of Dermira, Inc. He has served as CEO of other biotechnology companies and currently serves on the Biotechnology Innovation Organization (BIO) board of directors.