Ganli pharmaceutical's insulin was exposed as an IPO last year, suspected of bribery nearly 300 million

Ganli pharmaceutical, the most famous enterprise in the field of insulin in China, is involved in the commercial bribery scandal Some people familiar with the matter disclosed to reporters that Ganli pharmaceutical industry made rapid progress in 2012, behind which was the "credit" of the company's total commercial bribery of nearly 300 million yuan "In 2012, there were 500000 new drug users in Ganli Now judging from the return card collected every month, Ganli pharmaceutical industry has surpassed foreign enterprises, and our internal estimated market share is about 8% Although the total amount is small, the growth rate is very fast " On September 9, Wu Dejiang (pseudonym), a medical representative of Ganli pharmaceutical, introduced to reporters Ganli pharmaceutical is the only enterprise in China that can produce the third generation insulin Its main competitors are Novo Nordisk, Lilly and Sanofi For this reason, Ganli pharmaceutical industry has been regarded as the pride of national pharmaceutical industry However, according to the report, Gan Li has been engaged in commercial bribery since at least 2008 The main target of bribery is doctors in the Endocrinology Department of major hospitals There are detailed rebate rules in Ganli pharmaceutical industry, so although Wu Dejiang entered Ganli in 2010, he can roughly estimate the total amount of bribery "The total amount of bribery from 2008 to now may be as high as 800 million yuan, of which nearly 300 million yuan was paid in 2012 alone The profit margin of insulin is very big, so it's easy for Gan Li to bribe " Mr Wu said It is worth mentioning that on June 27 this year, Ganli pharmaceutical entered the first trial list of the main board of the Shanghai Stock Exchange In March 2011, Tonghua Dongbao (600867 SZ) sold 29.43% of its shares in Ganli Pharmaceutical Co., Ltd to Qiming (microblog) venture capital, Goldman Sachs, CITIC, CCB international and saidewanfang From then on, Ganli Pharmaceutical Co., Ltd embarked on the road of independent listing "It's for the sake of going public that Ganli pharmaceutical industry has strict requirements on performance and is willing to trade commercial bribes for sales," Wu said Bribery rule: the way of bribery in Ganli pharmaceutical industry is divided into three parts: project fee, AP fee and market fee Insulin is mainly used to treat diabetes, and is generally used for life The domestic insulin market is dominated by the second generation of recombinant human insulin, and the third generation of insulin analogues is still in the initial stage of the market Ganli pharmaceutical is the only enterprise in China that can produce the third generation insulin, and its core product is "changxiulin" According to Wu Dejiang, the bribery methods of Ganli pharmaceutical industry are divided into three parts: project fee, AP fee and market fee The project fee is the fee given to the doctor by Ganli pharmaceutical industry when the patient first uses Ganli insulin Insulin needs a special syringe to inject liquid medicine into the body The syringe can be reused "Every time a syringe is sent or sold, it is equivalent to a doctor robbing a patient resource for Gan Li," Wu said Ganli pharmaceutical put a return visit card in each syringe When the doctor opened the syringe, he filled in the card After Ganli's return visit confirmed that the patient was using it, the doctor would get a "project fee" The cost varies according to the level of the hospital Take the hospital in charge of Wu Dejiang as an example, each case of teaching level hospital is yuan, each case of city level top three hospital is yuan, and each case of second level hospital is yuan In the long record form he showed to reporters, 712 hospitals were listed in six provinces of Hubei, Hunan, Jiangxi, Yunnan, Sichuan and Guizhou, covering almost all hospitals above the second level in these provinces The project fee of each hospital has "clear code real price", the lowest is yuan In another detailed table, it records the return visit information of Ganli pharmaceutical in Jiangxi Province in April 2012 There were 919 new drug patients in Jiangxi in that month Almost every patient had a series of detailed data, such as name, contact number, return visit time, drug quantity, previous drug use history, fasting blood glucose, etc After these information, there are project costs of 100 or 300 less According to the expense statement of Ganli pharmaceutical industry in March this year, 922 new patients were added in the province in that month The total cost of the project is yuan, with an average of yuan per person Wu Dejiang said: in 2012, Ganli pharmaceutical received 11000 return cards in Hubei and about 10000 in Hunan Based on an average of RMB, the project cost may be as high as RMB 4.2 million "In 2012, 500000 new drug users were added nationwide, which may be nearly 100 million yuan of project cost." With high kickbacks, Ganli pharmaceutical industry has just won the market from three foreign giants such as Novo Nordisk According to Wu Dejiang, "foreign enterprises are relatively formal, and not every doctor will give kickbacks And they have a slow reimbursement process Unlike Gan Li, they can get money as soon as they prescribe medicine " If the project fee makes the doctor taste the sweetness for the first time, the AP fee is the actual prescription rebate "In the past, each insulin rebate was yuan At the end of 2012, after the national development and Reform Commission unified the price reduction of insulin, because the price was low, each rebate was yuan," Wu said At the company's annual meeting in 2012, Ganli pharmaceutical announced that in 2012, it sold 4.6 million pieces of "changxiulin" insulin According to the rebate calculation of each RMB, the total AP expense is more than 92 million yuan Industry insiders told reporters: "the growth of Ganli pharmaceutical industry in recent years is indeed very fast According to the medication data of IMS, an international consulting agency, the insulin sales volume of Ganli in 2012 was 2.85 million Of course, IMS data usually have a large discount, so the 4.6 million pieces claimed by Gan Li have a certain degree of credibility " In addition, Wu Dejiang also introduced that the company also according to the sales situation, according to each insulin yuan to each medical representative some communication costs, used to invite doctors to eat and sing, etc., the company called the market cost The reporter saw that each representative's monthly market fee is more than 4500 yuan, less than 8900 yuan In 2012, the sum of the above three expenses may be close to 300 million yuan, accounting for a considerable part of the company's sales Ganli Pharmaceutical Co., Ltd has been sponsored by CITIC Securities for IPO Pharmaceutical representatives worry about the reimbursement of bribes Ganli Pharmaceutical Co., Ltd is willing to spend a lot of money to promote products The economic benefits behind it are obvious Ganli pharmaceutical officially separated from Tonghua Dongbao in 2011 In the ranking of pharmaceutical industry enterprises of the Ministry of industry and information technology of the people's Republic of China, Ganli pharmaceutical ranked 328 in terms of revenue and 237 in terms of profit; in 2012, Ganli pharmaceutical ranked 297 in terms of revenue and 131 in terms of profit According to its ranking, the total profit of Ganli pharmaceutical industry in 2012 is about 100 million yuan In 2009, Ganli pharmaceutical was only a small and medium-sized pharmaceutical enterprise with an income of 85 million yuan and a profit of 10 million yuan In recent years, Gan Li's performance, assets and other indicators have been growing rapidly, and Wu Dejiang believes that it depends on commercial bribery "In addition to the northeast, changxiulin basically has one specification," Wu said The market price is about yuan After hospital bonus, it may be about yuan for patients " Among the sales price of RMB, the provincial agent takes the price of goods as RMB, "rent, personnel salary, etc account for about 15% - 20% of the sales price." In this way, each may have a rebate space of about yuan " According to Wu Dejiang, almost all of the yuan was given as a commercial bribe In 2012, the sales volume of Ganli pharmaceutical industry was about 700 million yuan, and the rebate of 300 million yuan accounted for 40% of its sales volume The development strategy of "open and close" has created a good image of capital market for Ganli pharmaceutical industry In May 2010, Gan Li made the first round of financing and Qiming venture capital became the first round of strategic investors of the company with more than 100 million yuan In 2012, Qiming venture capital, jointly with Goldman Sachs, CITIC and other institutions, took 29.43% of the equity of Ganli pharmaceutical industry at a price of more than 400 million yuan Now, Ganli pharmaceutical has been recommended by CITIC Securities and entered the IPO queue of Shanghai Stock Exchange And the days of pain for medical representatives are just beginning The commercial bribery of Ganli pharmaceutical industry usually takes the form of cash, and the expenditure of large amount of cash is a problem Before 2012, Wu Dejiang said, the company mainly used the way of buying false business tax and value-added tax invoices to hedge out funds In 2013, the way of falsely issuing invoices through travel agencies was added Zhang Tao, then the sales director, will give specific guidance on commercial bribery These bribes are paid in advance by medical representatives According to the company's regulations, on the 25th of each month, after the reimbursement of advance payment, it is printed into a special expense card However, due to the fact that the internal financial system has become extremely strict within the IPO schedule, the medical representatives are sometimes unable to make up for the qualified invoices, which makes it difficult for the reimbursement of bribes to be in place in time "I have paid 60000 yuan in advance this year, which has not been recovered," Wu said There are a lot of others who have paid 20000 or 30000 yuan in advance " Many medical representatives are suffering In addition, Wu Dejiang said that Ganli pharmaceutical also sold VAT invoices Zhang Tao resells VAT invoices issued by dealers in various provinces to other commercial companies for profit In 2011 alone, the face value of the resale invoice reached 3 million yuan Wu Dejiang said that he had submitted the report materials to the Economic Investigation Department of Chaoyang District, Beijing Municipal Bureau of industry and commerce, tax bureau and Beijing Municipal Securities Regulatory Bureau, but no response was received The report materials obtained by the reporter include the internal form of the company, the internal meeting video of a provincial office, the conversation recording with the bribery object, etc On September 9, Gan Li pharmaceutical confirmed to reporters that Zhang Tao was the company's sales director before and is now the company's general manager When the reporter asked to consult with the securities department, he was told that he was off duty.