SHANGHAI, Dec. 19, 2019 /PRNewswire/ -- 111, Inc. (NASDAQ:
YI) ("111" or the "Company"), a leading integrated online and
offline healthcare platform, convened the China Online
Pharmaceuticals and Healthcare Summit 2019 (the "Summit") together
with its annual general suppliers' meeting in Shanghai on December
11. The event, themed, "Technology Empowerment and Mutually
Beneficial Cooperation", focused on the implications for the
industry as China scales up its
centralized drug procurement policy from the initial "4+7" pilot
cities (the "4+7" Policy) expanding to more provinces and regions,
as well as ways to empower the pharmaceutical industry with
Internet technology in both R&D and distribution.
During the Summit, 111 unveiled its latest T2B2C strategy, an
omni-channel e-commerce platform, and program to help
pharmaceutical companies better cope with China's expanded "4+7" Policy to mitigate the
impact of lower drug prices mandated by the policy, and to roll out
a consumer-focused brand-name drug benefit plan.
The Summit attracted 600 participants from China and abroad, including executives from
leading pharmaceutical companies, pharmaceutical retailers,
investment firms and healthcare industry associations, and senior
government officials. The Summit recorded the highest attendance by
senior management of any healthcare event in China since the expansion of the "4+7" Policy
beyond the original eleven pilot cities, and delivered in-depth
discussion of issues such as the impact of the "4+7" Policy, and
Internet-powered drug companies, among others.
111.com unwraps new omni-channel e-commerce platform to
target post "4+7" Policy market
During their keynote speeches, Dr. Gang Yu, Co-founder and
Executive Chairman of 111, and Mr. Junling
Liu, Co-Founder, Chairman and CEO of 111 announced the
company's new omni-channel e-commerce platform strategy for drug
retail and distribution. Dr. Gang Yu said China's expansion of its pilot program of drug
procurement for public hospitals to more provinces and regions
across the country in 2019 is a key part of revolutionary reforms
to the healthcare sector. 111 will continue to leverage its
innovative business model and technological expertise to become the
omni-channel partner of choice for pharmaceutical manufacturers and
the "go-to" healthcare and medical services platform for patients
across the country.
111 has comprehensively upgraded its T2B2C strategy one year
after its debut, adding the new "Hawkeye" system to improve
the efficiency of 111's sales force as well as a life-cycle patient
management system with CRM (customer relationship management) and a
full range of patient management functions, in addition to
empowering pharmaceutical companies, pharmacies, patients and
insurance companies. The system uses precision marketing content to
enhance patient stickiness and refill and medication adherence
rates for prescribed drugs.
As the "4+7" Policy is rolled out, the market is expected to be
dominated by innovative drugs in the future. In line with this
trend, 111 also announced a new omni-channel e-commerce platform
strategy to help pharmaceutical companies commercialize innovative
drugs. By leveraging its own integrated online-offline healthcare
platform, 111 will help pharmaceutical manufacturers expand
coverage to include more pharmacies, clinics, private hospitals,
and community hospitals outside tier 1 and 2 cities' major
hospitals and large drug store chains, as well as hospitals and
patients in tier 3-6 cities, and provide complementary, value-added
services to pharmaceutical manufacturers. The new suite of services
includes Shizhen, a first-of-its-kind decentralized educational
platform for medical representatives to provide content aimed at
educating users about drugs. 111 has already successfully recruited
1,000 medical representatives for the platform.
In addition, 111 rolled out a brand-name drug benefit plan aimed
at empowering patients, improving medication adherence rates and
promoting brand-name drugs to a wider market through the
systemization of physician consultation, on-line refill and
medication guidance and pharmacist services.
Create a patient-centric ecosystem that will help
pharmaceutical manufacturers with the transition to an expanded
national drug procurement system
The Summit featured keynote speeches delivered by prominent
industry leaders, including Dr. Leon
Chen, founding partner and CEO of 6 Dimensions Capital, a
leading investment firm focused on the life sciences industry and
Mr. Kun Wu, Pfizer PBG China Country
Lead. The expansion of the "4+7 Policy" has led to tightened
control over the hospital procurement market while opening the door
to the online marketplace for pharmaceutical manufacturers.
The first roundtable session was themed "4+7 Policy Expansion:
New Challenges and New Opportunities for Pharmaceutical
Manufacturers, Sales Channels and Patients". During the session,
Mr. Junling Liu moderated a panel
with distinguished pharmaceutical leaders, including Ms.
President of Eisai China Region, Mr.
Chun Xia, General Manager of
Commercial & Emerging Business from Sanofi (China) Investment Co., Ltd Shanghai Branch,
Mr. Anfeng Guo, Vice President of the Immuno-Oncology Lung Business
Unit of Bristol-Myers Squibb (China) Investment Co., Ltd. and Mr.
Huibo Xin, Head of the Generic
Pharmaceuticals Division of Sandoz (CHINA) Pharmaceutical Co.,Ltd.
In discussing 111's omni-channel e-commerce platform strategy.
Ms. Yanhui Feng noted that Internet
will accelerate the go-to-market process for innovative drugs. She
said that third-party platforms like 111 are well-positioned to
facilitate drug commercialization, increase market acceptance and
improve customer experience. Mr. Anfeng Guo commented that 111's
approach will provide greater accessibility to innovative drugs,
improve medication adherence, and provide more efficient medical
services in tier 3 and 4 cities.
The second roundtable session focused on "Favorable Policies:
Using the Internet to Transform the Pharmaceutical Industry". Ms.
Kai Zhang, CEO and General Manager
of Manulife-Sinochem Life Insurance Co.,Ltd, Ms. Jinhui Li, China Oncology and Rare Disease
Category Lead, PBG and Mr. Meng
Zhang, Vice President of Tencent HealthCare joined the discussion hosted
by Mr. Yang Chen, CFO of 111.
Ms. Kai Zhang said the Internet
can serve to improve the quality, range, and efficiency of medical
services, and that insurers, pharmaceutical manufacturers, and
healthcare providers can all easily connect to the patient-centric
ecosystem that 111 is building.
Ms. Zhang also pointed out that, in addition to providing the
basic medical and healthcare services for their clients, insurers
can also leverage 111's massive chronic disease data base to
develop innovative products and improve risk control.
With the world's largest and fastest-aging population,
China is expected to see its
healthcare and pharmaceutical market grow to RMB10 trillion in 2020. Currently, China's medical and healthcare spending as a
percentage of GDP is just over 6%, while developed countries such
as Europe and the United States spend over 10% of GDP on
China's healthcare and
pharmaceutical industries enjoy tremendous growth opportunity. As
the country's leading online healthcare platform, 111 is helping
pharmaceutical companies explore distribution channels outside
hospitals and increase market penetration in lower tier cities by
leveraging its strong technical capabilities, highly efficient
supply chain management system, nationwide distribution network and
integrated online and offline channels. As of the third quarter
2019, 111 had signed direct sourcing partnerships with 150 leading
pharmaceutical manufacturers, and served as the priority partner
for a wide range of pharmaceutical companies building distribution
channels outside hospitals.
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
For more information, please contact:
Ms. Monica Mu
Mr. Christian Arnell
Ms. Linda Bergkamp
SOURCE 111, Inc.