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| Announcement of the Ministry of Commerce | | 商务部公告 |
(No. 58 [2013]) | |
（2013年第58号） |
Announcement on Approval of Decisions on Anti-monopoly Review Against Concentration of Undertakings in the Acquisition of Gambro AB by Baxter International Inc. with Additional Restrictive Conditions | |
关于附加限制性条件批准美国百特国际有限公司收购瑞典金宝公司经营者集中反垄断审查决定的公告 |
The Ministry of Commerce of the People's Republic of China received the anti-monopoly declaration of concentration of undertakings on the acquisition of Gambro AB (hereinafter referred to as Gambro) by Baxter International Inc. (hereinafter referred to as Baxter). Upon review, the Ministry of Commerce decided to approve the concentration of undertakings with additional restrictive conditions. In accordance with Article 30 of the Anti-monopoly Law of the People's Republic of China (hereinafter referred to as the Anti-monopoly Law), relevant matters are hereby announced as follows: | |
中华人民共和国商务部收到美国百特国际有限公司（Baxter International Inc.，以下简称百特）收购瑞典金宝公司（Gambro AB，以下简称金宝）的经营者集中反垄断申报。经审查，商务部决定附加限制性条件批准此项经营者集中。根据《中华人民共和国反垄断法》（以下简称《反垄断法》）第三十条，现公告如下： |
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| I. Case-filing and review procedures | | 一、立案和审查程序 |
On December 31, 2012, the Ministry of Commerce received the anti-monopoly declaration of concentration of undertakings on the acquisition of Gambro by Baxter. After examining the documents and materials for declaration, the Ministry of Commerce decided that they were insufficient, and required the declaring party to provide supplementary materials. On March 12, 2013, the Ministry of Commerce confirmed that the supplemented documents and materials complied with the requirements in Article 23 of the Anti-monopoly Law, and then filed a case on concentration of undertakings and began initial reviews. On April 10, the Ministry of Commerce decided to carry out further review on the concentration of undertakings. Upon further reviews, the Ministry of Commerce decided that the concentration might eliminate or restrict competition in the market of three commodities of continuous renal replacement therapy (hereinafter referred to as CRRT series commodities) including CRRT monitors, CRRT dialyzers and CRRT blood tubes and the market of hemodialyzers in the hemodialysis series commodities. On July 9, with the consent of the declaring party, the Ministry of Commerce decided to extend the further review to September 7. | |
2012年12月31日，商务部收到百特收购金宝经营者集中反垄断申报。经审核，商务部认为该申报文件、资料不完备，要求申报方予以补充。2013年3月12日，商务部确认经补充的申报文件、资料符合《反垄断法》第二十三条的要求，对此项经营者集中申报予以立案并开始初步审查。4月10日，商务部决定对此项经营者集中实施进一步审查。经进一步审查，商务部认为，此项经营者集中对持续肾脏替代治疗商品（以下简称CRRT系列商品）中的CRRT监测仪、CRRT透析器和CRRT血路管三种商品市场和血液透析系列商品中的血透透析器市场可能具有排除、限制竞争的效果。7月9日，经申报方同意，商务部决定延长进一步审查期限，截止时间为9月7日。 |
In the course of the review, the Ministry of Commerce reviewed the authenticity, completeness and accuracy of the documents and materials submitted by the declaring party, solicited opinions from relevant government departments, trade associations and downstream enterprises, obtained understanding of relevant commodities, industry characteristics and marketing, as well as heard comments with respect to the impact of this acquisition on market competition. | |
审查过程中，商务部对申报方提交的文件、资料的真实性、完整性和准确性进行了审核，向政府有关部门、相关行业协会、下游客户广泛征求了意见，了解了相关商品情况、行业特征、市场营销状况，听取了业内关于该交易对市场竞争影响的意见。 |
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| II. Competition analysis | | 二、竞争分析 |
In accordance with the Anti-monopoly Law and relevant regulations, the Ministry of Commerce reviewed the matters involved in the concentration, conducted in-depth analysis of the impact of the concentration on market competition, and decided that the concentration might eliminate or restrict competition in the markets of CRRT series commodities and hemodialyzers. | |
商务部按照《反垄断法》及配套规定，对此项经营者集中进行了审查，深入分析了此项经营者集中对市场竞争的影响，认为其在CRRT系列商品市场和血透透析器市场可能具有排除、限制竞争的效果。 |
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| (i)Acquisition overview | | （一）交易概况。 |
The acquirer Baxter, which was incorporated in the U.S. in 1931, is a listed company in New York Stock Exchange that is mainly engaged in research and development, production and sales of products curing hemophilia, diseases concerning immune system disorder, infectious diseases, renal diseases, trauma as well as other chronic diseases and serious diseases. The acquiree Gambro, which was incorporated in Sweden in 1942, is a multinational medical technology company that is mainly engaged in research and development, production and sales of products for renal and liver dialysis, cure of myeloma kidney, water treatment system and products for extracorporeal therapy of other chronic and serious diseases. Through the acquisition, Baxter indirectly acquires all the shares of Gambro which will become a wholly-owned subsidiary of Baxter after the acquisition is completed. | |
收购方百特于1931年在美国注册成立，是纽约证券交易所的上市公司，主要从事治疗血友病、免疫系统紊乱疾病、传染疾病、肾科疾病、创伤和其他慢性及重症病产品的研发、生产与销售业务。被收购方金宝于1942年在瑞典注册成立，是一家跨国医疗技术公司，主要从事肾脏和肝脏透析、骨髓瘤肾治疗、水处理系统以及其他慢性和重症患者的体外疗法产品的研发、生产与销售业务。通过本次交易，百特将间接收购金宝的全部股权，交易完成后，金宝将成为百特的全资子公司。 |
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| (ii) Relevant markets | | （二）相关市场。 |
Baxter and Gambro overlaps in the horizontal business of CRRT series commodities and hemodialysis series commodities. CRRT series commodities are also known as bedside hemo-filters, which are used in hospital intensive care units for dying patients with acute kidney injuries. CRRT series commodities include CRRT monitors, CRRT dialyzers, CRRT blood tubes, CRRT ducts, and CRRT liquor. Hemodialysis equipment is mainly used for curing acute normal kidney injuries and chronic diseases. Hemodialysis series commodities include hemodialysis monitors, hemodialyzers, hemodialysis blood tubes, hemodialysis ducts and hemodialysis liquor. The Ministry of Commerce reviewed the factors in demand such as the prices, treatment emphasis and applicable objects of CRRT series commodities and hemodialysis series commodities, as well as factors in supplies such as the technical features, intellectual property rights required for supplies of commodities and the complexity of production switch, and acknowledged that CRRT series commodities and hemodialysis series commodities formed independent markets of commodities, respectively. The Ministry of Commerce focused on the review of markets of CRRT monitors, CRRT dialyzers, CRRT blood tubes, as well as hemodialyzers with respect to CRRT series commodities. | |
交易双方在CRRT系列商品和血液透析系列商品上存在横向业务重叠。 CRRT系列商品又称床旁血滤设备，通常适用于医院重症监护病房中有生命危险的急性肾脏功能损伤患者，CRRT系列商品包括CRRT监测仪、CRRT透析器、CRRT血路管、CRRT导管、CRRT液剂。血液透析设备主要用于治疗急性常规肾损伤以及慢性肾病，血液透析系列商品包括血透监测仪、血透透析器、血透血路管、血透导管和血透液剂。商务部考察了CRRT系列商品和血液透析系列商品在价格、治疗侧重点、适用对象等需求方面的因素，同时也考虑了这两类商品的技术特征、商品提供所需知识产权及转产的难易程度等供给方面的因素，确认CRRT系列商品和血液透析系列商品分别构成独立的系列相关商品市场，其中重点审查了CRRT系列商品中的CRRT监测仪市场、CRRT透析器市场和CRRT血路管市场，以及血透透析器市场。 |
The Ministry of Commerce reviewed the factors of CRRT series commodities and hemodialysis series commodities in custom duties, transportation costs, imports and exports as well as current trading situations, and considered that it is necessary to analyze the impact of the acquisition on the market competition from the global perspective, and it also reviewed possible impacts of the acquisition on competitions in China's domestic markets. | |
商务部考察了CRRT系列商品和血透系列商品在关税、运输成本、进出口情况及贸易现状等方面的因素，认为需要从全球范围分析本项交易对市场竞争的影响，同时考察了此交易可能对中国境内市场竞争的影响。 |
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| (iii)Competition evaluation | | （三）竞争评估。 |
The Ministry of Commerce made evaluations on possible impacts on the markets of CRRT monitors, CRRT blood tubes, CRRT dialyzers and hemodialyzers from the market shares, market concentration, controlling power and market access of relevant markets. | |
商务部依据相关市场的市场份额、市场集中度、市场控制力、市场进入等因素，对CRRT监测仪、CRRT血路管、CRRT透析器和血透透析器市场可能产生的影响进行了评估。 |
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| 1. The acquisition led to further increase in concentration of CRRT series commodities market. No matter in the world or in China, the market concentration of CRRT series commodities was very high before the acquisition. The market concentration indexes (HHI) for global markets of CRRT monitors, CRRT blood tubes and CRRT dialyzers before the acquisition were 3,612, 3,162 and 2,908, respectively, amounting to 4,410, 3,798 and 4,108 after the acquisition. The increase in the index (ΔHHI) reached 798, 636 and 1,200 respectively. In China, HHIs of CRRT monitors, CRRT blood tubes and CRRT dialyzers were 2,738, 3,702 and 4,506 before the acquisition and 3,942, 7,158 and 6,426 after the acquisition with ΔHHI reaching 1,204, 3,456 and 1,920. | | 1、交易导致CRRT系列商品市场集中度进一步提高。无论是在全球还是中国境内，交易前，CRRT系列商品市场集中度已经很高。在全球CRRT监测仪、CRRT血路管和CRRT透析器市场，交易前市场集中度指数（HHI）分别为3612、3162和2908；交易后HHI指数分别为4410、3798和4108，市场集中度指数增量（ΔHHI）分别达到798、636和1200。在中国境内CRRT监测仪、CRRT血路管和CRRT透析器市场，交易前HHI指数分别为2738、3702和4506；交易后HHI指数分别为3942、7158和6426，集中度增量（ΔHHI）分别达到1204、3456和1920。 |
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| 2. The acquisition gave the acquirer the dominant position in the market of CRRT series commodities. Before the acquisition, Baxter and Gambro were main competitors in the market of CRRT series commodities. In 2012, in the range of the world, the total market share of the two in the market of CRRT monitors was 64% (Baxter: 7%; Gambro: 57%); their total market share in the market of CRRT blood tubes was 59% (Baxter: 6%; Gambro: 53%); their total market share in the market of CRRT dialyzers was 62% (Baxter: 12%; Gambro: 50%); in China, their total market share in the market of CRRT monitors was 57% (Baxter: 14%; Gambro: 43%); their total market share in the market of CRRT blood tubes was 84% (Baxter: 36%; Gambro: 48%); and their total market share in the market of CRRT dialyzers was 79% (Baxter: 15%; Gambro: 64%). The market share of other competitors was small, having limited impacts on the market. The acquisition eliminated the main competitor in the market of CRRT series commodities, offering Baxter strong market controlling power and causing adverse impacts on market competition. | | 2、交易使收购方在CRRT系列商品市场拥有支配地位。交易前，集中双方在CRRT系列商品市场互为主要竞争者。2012年，在全球范围内，集中双方在CRRT监测仪市场的合计份额为64%（百特7%、金宝57%），在CRRT血路管市场的合计份额为59%（百特6%、金宝53%），在CRRT透析器市场的合计份额为62%（百特12%、金宝50%）；在中国境内，集中双方在CRRT监测仪市场的合计份额为57%（百特14%、金宝43%），在CRRT血路管市场的合计份额为84%（百特36%、金宝48%），在CRRT透析器市场的合计份额为79%（百特15%、金宝64%）。其他竞争者的市场份额均较小，对市场竞争影响有限。本交易消除了CRRT系列商品市场中的主要竞争者，使百特拥有较强的市场控制力，对市场竞争产生不利影响。 |
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| 3. The acquisition increased the possibility that enterprises of hemodialyzers in China coordinated with each other and limited competition. In 2012, in the market of hemodialyzers in China, the market share of Nipro Medical Corporation (hereinafter referred to as Nipro) was 26%, that of Gambro was 19% and that of Baxter was 3%. Before the acquisition, the hemodialyzers products of Baxter were produced by Nipro under an OEM agreement. After the acquisition, Baxter owns the existing production capacity and sales network of Gambro, becoming one of the two main competitors in the market of hemodialyzers in China together with Nipro. Their total market share amounted to 48%. The OEM agreement between Baxter and Nipro included competitive information on such aspects as production costs and quantities. The existence of OEM relation will facilitate the mutual coordination and limitation on market competition. | | 3、交易增加了中国血透透析器市场企业间相互协调、限制竞争的可能性。2012年，在中国血透透析器市场上，尼普洛株式会社（以下简称尼普洛）的市场份额为26%，金宝为19%，百特为3%。交易前，百特的血透透析器产品由尼普洛代工生产。交易后，百特将拥有金宝既有的血透透析器生产能力和销售网络，与尼普洛一起成为中国血透透析器市场的两个主要竞争者，两者市场份额合计达到48%。百特与尼普洛签署的代工协议中包含生产成本、生产数量等竞争性信息，两者之间代工关系的存续便于双方相互协调，限制市场竞争。 |
The Ministry of Commerce, upon review, believes that there are certain obstacles in access to markets of CRRT series commodities and hemodialysis series commodities. First, access to the market of CRRT series commodities or the market of hemodialysis series commodities takes a long time and high cost, including large input in production, research and development and construction of sales networks. Secondly, relevant patents and intellectual property rights are the important conditions for the access to and survival in the market. In addition, all the countries impose strict limitations on market access, and relevant commodities are required to reach certain technical and quality standards before they can obtain corresponding qualifications. Engaging in relevant business in China requires the approval from China Food and Drug Administration. | |
商务部调查认为，CRRT系列商品和血液透析系列商品市场进入存在一定障碍。首先，进入血透系列商品或CRRT系列商品市场需要较长的时间和较高的成本，包括较高的生产、研发资本投入和构建销售网络。其次，拥有相应的专利和知识产权是进入该市场并保持生存的重要条件。另外，各国对上述商品均有严格的市场准入限制，相关商品需要达到一定的技术质量标准才能获得相应资质。在中国境内从事相关业务需获得国家食品药品监督管理总局批准。 |
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| III. Negotiation on the additional restrictive conditions | | 三、附加限制性条件的商谈 |
During the initial review, the declaring party presented to the Ministry of Commerce that there might be competition issues in the concentration, and submitted corresponding solutions. In the phase of further review, the Ministry of Commerce pointed out to the declaring party the competition-eliminating or restricting effect generated from the concentration, and required the declaring party to amend and improve the solutions submitted according to the competition issues pointed out by the Ministry of Commerce. After several rounds of negotiations, both parties of the concentration submitted the final solution to the Ministry of Commerce on June 20, 2013. The Ministry of Commerce, upon evaluation, considered that the final solution could mitigate the adverse impact of the concentration on competition. | |
在初步审查阶段，申报方向商务部表示该项集中可能存在竞争问题，并提交了相应的解决方案。在进一步审查阶段，商务部向申报方指出了此项经营者集中可能具有的排除、限制竞争的效果，并要求申报方根据商务部指出的竞争问题，对其提出的解决方案进行修改完善。经过多轮商谈，2013年6月20日，集中双方向商务部提交了最终解决方案。经评估，商务部认为，该方案能够减少此项经营者集中对竞争产生的不利影响。 |
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| IV. Review decision | | |
It is considered upon the review that the acquisition of Gambro by Baxter has competition-eliminating or restricting effects over the market of CRRT series commodities and the market of hemodialyzers among hemodialysis series commodities. The Ministry of Commerce decides to approve the concentration with additional restrictive conditions. Baxter and Gambro shall fulfill the following obligations: | |
审查认为，百特收购金宝对CRRT系列商品市场和血透系列商品中的血透透析器市场可能产生排除、限制竞争的效果，商务部决定附加限制性条件批准此项经营者集中。百特和金宝应履行如下义务： |
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| (i) Baxter shall divest its global CRRT business including tangible and intangible assets required to guarantee the survival and competitive power of the divested business. | | （一）百特剥离其全球的CRRT业务，包括确保剥离业务存活性和竞争力所需的有形资产和无形资产。 |
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| (ii) Baxter shall terminate the OEM agreement with Nipro within the territory of China before March 31, 2016 (contracts with customers or other obligations of supplies under relevant laws and regulations that already exist at the time when this decision is released shall be excluded). | | （二）2016年3月31日前，百特在中国境内终止尼普洛代工生产协议（本决定公布时已经存在的客户合同或其他法律法规项下的供应义务除外）。 |
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| (iii) Supervision over the restrictive conditions shall be subject to this Announcement, besides, the Commitment on Remedy for Contemplated Acquisition of Gambro AB by Baxter International Inc. (see attachment) shall be also legally binding on Baxter. Baxter shall, in accordance with requirements of the Interim Provisions on the Divestiture of Assets or Business in the Concentration of Undertakings, entrust a supervision trustee to supervise the fulfillment of the obligations hereunder. | | （三）限制性条件的监督执行除按照本公告办理外，《百特国际有限公司拟议收购金宝公司交易的救济承诺》（见附件）对百特具有同样法律约束力。百特应根据商务部《关于实施经营者集中资产或业务剥离的暂行规定》的要求，委托监督受托人对其履行本决定项下义务情况进行监督。 |
Baxter shall, within fifteen (15) days after the end of each quarter since the date of this Announcement, submit a written report on fulfillment of business divesture obligation to the Ministry of Commerce; and submit a written report on the fulfillment of gradual termination of the OEM agreement with Nipro to the Ministry of Commerce within forty-five (45) days after the end of each calendar year since the date of this Announcement. | |
百特应在本公告发布之日起每季度结束后的15天内，向商务部书面报告业务剥离义务履行情况；在本公告发布之日起每日历年度结束后45天内，向商务部书面报告尼普洛代工生产协议逐步终止义务履行情况。 |
In order to fulfill the obligations above, both parties of the acquisition shall, after the supervision trustee is determined, submit as soon as possible detail plans for the fulfillment of the obligations above to the Ministry of Commerce for approval and then implement the same. | |
为履行上述义务，交易双方应当在监督受托人确定后，尽快提交履行上述义务的详细操作方案，报商务部批准后实施。 |
This Announcement shall come into effect as of the date of issuance. | |
本公告自发布之日起生效。 |
Ministry of Commerce of the People's Republic of China | |
商务部 |
August 8, 2013 | |
2013年8月8日 |
Annex: Commitment on Remedy for Contemplated Acquisition of Gambro AB by Baxter International Inc. (Omitted) | |
附件 美国百特国际有限公司拟收购瑞典金宝公司的交易救济承诺方案 |
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| | 目录 |
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| | 第一章 定义 |
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| | 第二章 剥离业务 |
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| | 第三章 相关承诺
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