药企股权收购6年后被责令恢复原状，原料药反垄断再下重拳

Core Viewpoint - The case marks the fourth prohibition of operator concentration since the implementation of the Anti-Monopoly Law in China in 2008, being the first to ban a concentration that did not meet the reporting standards and requiring the parties to restore the situation to pre-concentration status [1][2] Group 1: Case Details - The State Administration for Market Regulation (SAMR) has prohibited Wuhan Yitong Pharmaceutical Co., Ltd. from acquiring a 50% stake in Shandong Beida Gaoke Huatai Pharmaceutical Co., Ltd. and has ordered both parties to terminate their equity relationship and raw material drug agency agreement [2] - The acquisition involved the life-saving drug, Papaverine Hydrochloride Injection, which is crucial for treating vascular spasms and has no effective substitutes [3] - Following the acquisition, Shandong Huatai's market share in the Papaverine Hydrochloride Injection market increased significantly from 25%-30% in 2018 to 40%-45% by 2022 [4] Group 2: Market Impact - The average ex-factory price of Papaverine Hydrochloride Injection rose by 60%-65% after the concentration was completed, severely harming consumer interests [4] - Wuhan Yitong controlled 80%-95% of the raw material market for Papaverine Hydrochloride Injection from 2019 to 2022, indicating a strong market dominance [3] Group 3: Legal and Regulatory Implications - The SAMR's decision to prohibit the concentration and the potential for future penalties against Wuhan Yitong suggest ongoing scrutiny of anti-competitive practices in the pharmaceutical sector [5][6] - The case highlights the increasing focus of regulatory bodies on monopolistic issues in the pharmaceutical industry, with five anti-monopoly cases already published in 2023, involving penalties exceeding 600 million yuan [7]