111 Building "Fourth Sales Channel" to Support Pharmaceutical Companies and Accelerate Drug Distribution Outside of Hospitals
SHANGHAI, July 11, 2019 /PRNewswire/ -- 111, Inc. (NASDAQ: YI) ("111" or the "Company"), a leading integrated online and offline healthcare platform, announced that on July 5, 2019 it extended its strategic partnership with Eli Lilly and Company(NYSE: LLY) ("Lilly"), a global healthcare leader, by becoming a key distributor for the latter's market-leading product "Cialis." This was the second time that 111 received official recognition from Lilly after announcing their strategic cooperation at the beginning of this year to roll out a "fourth sales channel" solution for pharmaceutical companies by focusing on big data, e-prescriptions, doctor services, and patient education.
Market demand outside of hospitals, in particular for new retail channels, has received unprecedented attention from pharmaceutical companies with the ongoing implementation of the new "4+7 Centralized Urban Pharmaceutical Procurement" policy. According to a senior executive from Lilly, the market share for prescription medicines for chronic diseases in China is shifting outside of traditional hospitals, and Lilly is proactively seeking innovative business models and strategic partnerships to actively support reforms implemented by the Chinese government and benefit from the market opportunity.
111 became a tier one distributor for Lilly products in 2017. As part of their expanding partnership, 111 will leverage its advanced technology and extensive platform channels to support Lilly in distributing "Cialis" to private hospitals more efficiently. 111 will manage private hospital sales channels for "Cialis" while at the same time working with Lilly to jointly develop distribution channels and provide product training to hospitals on the product. Starting this year, 111 will become to primary e-commerce distributor for "Cialis".
The partnership with Lilly represents only an initial phase of 111's new Internet healthcare cooperation model. 111 will continue to explore innovative partnerships in the internet pharmaceutical healthcare sector with various respected pharmaceutical companies, both domestic and global. With new partnerships, 111 will accelerate growth by leveraging its new leading pharmaceutical new retail capabilities to create value for pharmaceutical companies, pharmacies and customers.
About Eli Lilly and Company
Lilly is a global healthcare leader that unites caring with discovery to create medicines that make life better for people around the world. Lilly was founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today remains true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism.
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
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SOURCE 111, Inc.
Company Codes: NASDAQ-NMS:YI