Date Approved


Degree Type

Open Access Senior Honors Thesis

Department or School

Accounting and Finance

First Advisor

Yu Zhang, Ph.D.

Second Advisor

Charles Teague III, Ph.D.

Third Advisor

Ann R. Eisenberg, Ph.D.


This paper will discuss the various ways to address profitability within firms and compare the profitability of three firms within the same industry. It will also touch upon rebranding within firms, the differences between brand and reputation, and how companies decide to use these leverages. Within, the paper dives into one successful account of a rebranding and its positive or negative effects in the long run. This will mainly be reflected in the literary review. In the profitability review, I will review three comparable companies within the biotechnology industry, including two public companies and one owned by a private equity firm (Company A, IQVIA Holdings, and Scorpius Biomanufacturing). Each company will have graphs representing the revenues, costs, and net profit margins for 2018-2023 and will have a summary denoting the merger and acquisition history, the beginnings, and different business segments. For Company A, a deeper analysis is conducted as the paper navigates into other business segments, and products that either hinder or advance the company’s net profit margin are analyzed.

Invoices from 2018-2023 are provided, and commentary from the company is also included, describing the significant issues in the pricing of products throughout the years. Since Company A recently rebranded, this is also analyzed with the prices of individual products. Obviously, within these graphs, there are indicators of the COVID-19 pandemic. Still, the paper dives beyond the macroeconomic issues, specifically with the products sold and the associated risks within the pharmaceutical and biotechnology sectors.