Recent literature on organizational features and activities along the phases of convergent value chains is gathered in a classification framework. It is emphasized that within convergent value chains organizations lack certain competences and hence need to collaborate in order to close their competence gaps. These collaborations are also discussed in regard to the intensity of resource and competence integration, ranging from licensing agreements to mergers and acquisitions. Strategic alliances, joint ventures as well as mergers and acquisitions in the biotechnology sector undergoing convergent processes are analyzed over the 20-year period, 1997-2016. Subsequently, the biopharmaceutical sector is chosen as a convergent industry case example and its value chain analyzed using the classification framework developed. The position of the incumbent firms is shown to shift from spanning the entire value chain in a fully-integrated business model, to being pushed towards the market end of the value chain by the industry new entrants, to finally trying to regain a stronger position by adapting a coordinating hub business model.