威高股份销售员行贿案背后：医药回扣链条暴露上市公司治理与合规风险

Core Viewpoint - The recent bribery case involving a sales representative from Shandong Weigao Co., Ltd. highlights systemic risks within the company's sales structure, especially in the context of ongoing national efforts to combat commercial bribery and promote centralized procurement of medical supplies [1][6]. Group 1: Bribery Details - The bribery actions of the representative, totaling over 1.58 million yuan, were characterized by long-term and multi-department penetration, affecting nearly 20 departments in a hospital [2][7]. - A significant portion of the bribes, amounting to 1.1912 million yuan, was directed towards various medical departments, with individual bribe amounts ranging from thousands to hundreds of thousands of yuan [2][7]. - The National Healthcare Security Administration emphasized that such practices disrupt normal medical practices and distort competition, shifting the focus from quality and price to "rebate-driven" sales [2][7]. Group 2: Corporate Governance Concerns - Weigao has not publicly disclosed any information regarding the bribery case, raising concerns about its transparency and internal control mechanisms [3][8]. - The company operates a vast sales network with 25 sales offices and 170 city representatives, yet multiple bribery incidents indicate significant management and compliance training gaps [3][8]. - The actions of local employees directly impact the company's brand and legal risks, suggesting that without strengthened internal controls, similar incidents may recur, potentially leading to regulatory investigations and penalties [3][8]. Group 3: Industry Transformation Challenges - The National Healthcare Security Administration has stated that commercial bribery inflates the prices of medical supplies, with the excess not contributing to legitimate profits or innovation [4][9]. - Companies like Weigao, which have relied on high margins and rebates, face significant challenges as centralized procurement and price transparency become the norm [4][9]. - There is a growing emphasis on ESG (Environmental, Social, and Governance) principles, making compliance and ethical sales practices critical for long-term investment value [4][9]. Conclusion - The bribery case serves as a reflection of the governance shortcomings in the pharmaceutical sales sector, emphasizing the need for companies to move away from rebate dependency and focus on product quality and efficiency to ensure sustainable growth [5][11].