[摘要]医药行业是我国经济全球化发展的重要战略之一，随着国家对医药行业的高度重视，该行业已成为近年来炙手可热的投资对象。与其他行业不同，医药行业投入大、风险高、技术水平高，但其发展速度极快，存在巨大潜力和广阔的市场前景。在其资本结构中也存在与其他行业差异性较大的现象。债务结构不合理 股权集中度较高 借款渠道单一是医药行业的资本结构的问题所在。本文将以“东阿阿胶”作为行业代表，以资本结构理论为基础，分析其资本结构现状，结合其自身企业发展特点，为该企业制定最优资本结构策略。

[关键词]医药行业；资本结构现状；最优资本结构策略

Analysis of Capital Structure of Listed Pharmaceutical Enterprises -- Taking Dong 'e 'E Jiao as an Example

[Abstract] The pharmaceutical industry is one of the important strategies for the development of China's economic globalization. As the country attaches great importance to the pharmaceutical industry, the industry has become a hot investment object in recent years. Different from other industries, the pharmaceutical industry has high investment,high risk and high technical level, but its rapid development has huge potential and broad market prospects. In its capital structure there is also a large difference in the phenomenon of other industries.Unreasonable debt structure, high concentration of equity,single borrowing channel is the capital structure problem of the pharmaceutical industry. This paper will take "Dong 'e E-Jiao" as the industry representative,based on the theory of capital structure,analyze the current situation of its capital structure, combined with its own characteristics of enterprise development, to develop the optimal capital structure strategy for the enterprise.

[Key words]pharmaceutical industry;Status of capital structure; Optimal capital structure strategy