Yulia A. Andreeva

The development of the pharmaceutical industry is inextricably linked with the development of new types of drugs, the introduction of new technologies, the provision of scientific research in bioengineering and biotechnology, which can be ensured through the continuous development of intellectual capital. Intellectual capital is a capacious and ambiguous concept that, other things equal, is explained by the presence of professional skills and competencies of employees that cannot be separated from them and, therefore, are reflected in the financial statements. For a long time, researchers have been evaluating the impact of intellectual capital on the performance and value of companies in various sectors of economy. This article attempts to look at the problem more broadly by adding the factors inherent in sustainable development and competitive advantages of the company: business model and business strategy to the traditional elements of intellectual capital. The purpose of the work is to assess the impact of business strategy, business model and intellectual capital components on the performance of pharmaceutical companies in Russia. The object of the study is the financial and non-financial reporting of Russian pharmaceutical companies. The subject is establishing the relationship between the disclosure of information on intellectual capital and financial performance, taking into account the business strategy and business model of the company. The methodological basis is the statistical and economic method, namely, the regression of panel data with fixed effects. The results show that most large companies in pharmaceutical sector adhere to the business strategy of “analyzers” and choose the business model of producers of their own drugs. The findings indicate no connection between the company's business strategy and business model and the performance of pharmaceutical companies. Elements of IC have been established that provide competitive advantages for the company in pharmaceutical industry.