SHANGHAI, Oct. 15, 2020 /PRNewswire/ -- On September 24, 111, Inc. (the "Company" or "111")
and Guangzhou Xiangxue Pharmaceutical Co., Ltd. ("Xiangxue
Pharmaceutical") officially signed a strategic partnership
agreement (the "Agreement") to deepen collaboration to further
develop the "Internet + Medicine" model for China's traditional Chinese medicine
industry.
Per the Agreement, 111 will become an omni-channel
commercialization partner of Xiangxue Pharmaceutical. Through the
integration of Smart Supply Chain, digital marketing, data
capabilities, and cloud services, Xiangxue Pharmaceutical will be
able to promote its abundant traditional Chinese medicine products
into new markets through online and offline platforms, as well as
expanding into existing markets.
As the pioneer in "Internet + Medicine" platform, 111 has built
China's largest digital healthcare
platform that combines both online and offline channels covering
280,000 pharmacies nationwide. In the often underserved tier 3-6
cities, 111 covers over 63% of retail pharmacies. The Agreement
aims to combine the strength of 111's omni-channel drug
commercialization platform and Xiangxue Pharmaceutical's expansive
portfolio of products to drive the growth of traditional Chinese
medicine. Both companies are excited to embark on this symbiotic
partnership that aims further strengthen 111's capabilities of
connecting pharmaceutical companies with patients in need of their
medicine.
Mr. ZHU Pengcheng, Co-COO of 111, commented that he has full
confidence in this mutually beneficial partnership that leverages
the expertise of both companies to service and promote the
traditional Chinese medicine industry by combining 111's leading
digital healthcare platform and Xiangxue Pharmaceutical's
innovative product line. The two parties will collaborate in big
data application, digital marketing of traditional Chinese
medicine, brand building, and patient health management to optimize
operations and better serve patients' needs.
Mr. TAN Guanghua, General Manager of the Marketing Center of
Xiangxue Pharmaceutical, commented that 111, as China's leading digital healthcare platform,
has tremendous competitive advantages in its technology-enabled
Smart Supply Chain, omni-channel drug commercialization
capabilities, and smart technology and integrated online-offline
infrastructure that leverages the latest in AI, cloud-based
solutions, and big data. The Agreement combines the expertise of
both companies and he has full confidence that the strategic
partnership will be a success in achieving significant annual sales
growth for Xiangxue Pharmaceutical.
About Xiangxue Pharmaceutical
Xiangxue Pharmaceutical is specialized in the health industry,
covering fields such as traditional Chinese medicine decoction
pieces, Chinese patent medicine, functional healthcare products,
biomedical engineering, and life science research. It has built
large GAP medicinal materials planting bases and GMP production
bases, building an integrated industrial chain that includes
traditional Chinese medicine resources development, new drug
R&D and production, advanced manufacturing of traditional
Chinese medicine, and modern logistics and distribution. The
company has become a leading traditional Chinese medicine
modernization company with proprietary intellectual property
rights, its brands and self-dependent innovation ability.
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading
digital healthcare platform committed to digitally connecting
patients with healthcare products and services in China. The Company provides consumers with
better access to pharmaceutical products and healthcare services
directly through its online retail pharmacy, 1 Drugstore, and
indirectly through its offline virtual pharmacy network. The
Company also offers online healthcare services through its internet
hospital, 1 Clinic, which provides consumers with cost-effective
and convenient online consultation, electronic prescription
service, and patient management service. In addition, 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. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to
better serve their customers with cloud-based services. 111 also
provides an omni-channel drug commercialization platform to its
strategic partners, which includes services such as digital
marketing, patient education, data analytics, and pricing
monitoring.
For more information on 111, please visit:
http://ir.111.com.cn/.
For more information, please contact:
111, Inc.
Investor Relations
Email: ir@111.com.cn
111, Inc.
Media Relations
Email: press@111.com.cn
Phone: +86-021-2053 6666 (China)
GCM Strategic Communications
IR Counsel
Email: 111.ir@gcm.international
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SOURCE 111, Inc.