In this paper, by the case studies of industry extended M & A of Huayuan Group, the paper not only makes the reader further understand the related theory about industry extended M & A, and also summarizes the motivation, processes and effects of industry extended M & A Beijing Pharmaceutical Group and Lukang Group of Huayuan Group and the industrial extended modes, thus contributing to the powerful alliances of pharmaceutical companies and bringing new economic development of the pharmaceutical industry.% 本文通过对华源集团的产业扩展型并购进行案例分析，不仅让我们对产业扩展型并购的相关理论有了更进一步的入了解，而且通过对华源集团产业扩展型并购北药集团和鲁抗集团的动因、过程和效果以及其所运用的产业扩展型并购模式等进行总结分析，从而促使医药企业走上强强联合的道路，带来医药行业经济的新发展。
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