"Growth Champion" Award for "1
Drugstore"
SHANGHAI, June 23, 2019 /PRNewswire/ -- 111, Inc. (NASDAQ:
YI) ("111" or the "Company"), a leading integrated online and
offline healthcare platform, today announced that its online retail
pharmacy "1 Drugstore" has won two prestigious industry awards.
Both awards, "2018-2019 Top 100 Pharmacy Chains in China" and "2018-2019 China Pharmacy Chain 8
Dimensions 'Growth Champion'", were announced at the 2019
National Pharmacy Week and China Pharmaceutical Innovation and
Development Summit in Jinan, on
July 15-18, 2019.
The jury weighed operational strength, development potential,
and corporate social responsibility of pharmaceutical chains with
annual sales over RMB 200 million,
with scoring based on the Topsis method (Technique for Order
Preference by Similarity to Ideal Solution). Selection was based on
eight categories, using 32 criteria. The eight categories included
business scale, operation, brand recognition, profitability,
growth, capital markets operations, professionalism, and corporate
social responsibility.
Pharmacy chains and online hospitals are driving pharmaceutical
sales together with policy changes and ongoing evolution of
China's healthcare system. The
pilot program announced last December for bidding on supplying
drugs to public hospitals in 11 cities, was dubbed the "4+7
Centralized Urban Pharmaceutical Procurement Policy". Pressures to
break the bottleneck of public hospital channels for drug supply
are leading to dramatic changes in traditional sales channels for
drugs, with markets outside of traditional hospitals, such as
pharmacy chains and online hospitals, becoming the industry's new
driving force for pharmaceutical sales.
As these policy and regulatory changes unfold, most end users
will turn to new retail offline and online pharmaceutical chains,
which will supply both Over the Counter (OTC) medications and
prescription drugs with clear protections for both. In order to
capture this market opportunity, 111 is building an integrated
healthcare platform and ecosystem that break down online and
offline barriers among pharmacies, pharmaceutical companies,
insurance companies, as well as doctors and hospitals, through its
unique T2B2C business model.
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading
integrated online and offline healthcare platform in China. The Company provides hundreds of
millions of consumers with better access to pharmaceutical products
and healthcare services directly through its online retail pharmacy
and indirectly through its offline pharmacy network. 111 also
offers online healthcare services through its internet hospital, 1
Clinic, which provides consumers with cost-effective and convenient
online consultation and electronic prescription services. In
addition to providing direct services to consumers through its
online retail pharmacy, 111 also enables offline pharmacies to
better serve their customers. The Company's online wholesale
pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to
source a vast selection of pharmaceutical products. The Company's
new retail platform, by integrating the front and back ends of the
pharmaceutical supply chain, has formed a smart supply chain, which
transforms the flow of pharmaceutical products to pharmacies and
modernizes how they serve their customers.
For more information on 111, please visit
http://ir.111.com.cn
For more information, please contact:
111, Inc.
IR Director
Ms. Monica Mu ir@111.com.cn
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
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SOURCE 111, Inc.