Mergers and acquisitions(M&A)remain a significant driver of value creation and growth across the pharmaceutical industry, from innovator companies through contract service providers. A successful M&A transaction requires a comprehensive strategy, with well-defined objectives, to guide the effort to leverage the assets of the acquired company and define a path for the buying company. Regardless of the strategic value of the acquisition on paper, the success of the M&A may largely be determined by the leadership on both sides.