111, Inc. Announces Strategic Partnership with Chugai Pharma China Co., Ltd. to Accelerate Innovations in Chronic Disease Management
111, Inc. (NASDAQ: YI) has announced a strategic partnership with Chugai Pharma China to advance healthcare in China through innovative digital solutions. This collaboration aims to establish a 'SMART Healthcare City' concept, enhancing the treatment accessibility for chronic diseases. As the first e-commerce company to form such a partnership with Chugai, 111 will leverage its technological strengths to improve healthcare delivery. Both companies intend to align with China's 'Healthy China 2030' initiative, which targets comprehensive chronic disease management for better patient outcomes.
- Strategic partnership with Chugai Pharma China enhances market position.
- First e-commerce company in China to form an omni-channel partnership with a major pharmaceutical player.
- Alignment with 'Healthy China 2030' initiative suggests potential for increased market opportunities.
- None.
SHANGHAI, Oct. 25, 2021 /PRNewswire/ -- 111, Inc. ("111" or the "Company") (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to digitally connecting patients with medicine and healthcare services in China, today announced a strategic cooperation agreement with Chugai Pharma China Co., Ltd. ("Chugai Pharma China").
The agreement will allow 111 and Chugai Pharma China to work together towards building a "Healthy China" by establishing a "SMART Healthcare City" concept through the use of digital drug distribution programs, and expanding the accessibility of treatment programs with modern logistics.
Currently, 111 is the first e-commerce company in China to have the omni-channel commercialization partnership with Chugai Pharma China. These initiatives will provide patients with end-to-end innovative medical solutions and strengthen the comprehensive management of chronic diseases. 111 will leverage its advantages in Internet technology, intelligent supply chain, omni-channel drug commercialization and cloud service e-commerce, combined with Chugai Pharma China's extensive international experience, professional knowledge, and innovative medical solutions in the treatment of various diseases, to develop and implement a national medicine and Internet strategy.
Present at the signing ceremony were Dr. YU Gang, Co-founder & Executive Chairman of 111, Yukimatsu Kunihiko, Chairman and General Manager of Chugai Pharma China, as well as members of the media and over 50 representatives from medical institutions, industry associations and pharmaceutical companies.
Mr. Yukimatsu stated, "The 'Healthy China 2030' plan proposed by the Chinese government aims to provide equal access to quality healthcare to the public by 2030. In order to achieve this goal, chronic disease management will be a key factor for the entire healthcare system. This new strategic partnership with 111 will enable us to help answer that call. I am deeply honored and firmly believe that this collaboration will be beneficial for bringing new, convenient and accessible medical solutions to more Chinese patients and their families."
"We are excited about this new partnership with Chugai Pharma China," commented Dr. Yu. "Its extensive knowledge and wealth of international experience will serve as significant assets as we work to achieve our mutual goal of providing patients with a full range of healthcare solutions. As we move forward in this partnership, 111 will be able to provide a variety of resources, technology and platform support for Chugai Pharma China. Together, both enterprises will collaborate and share resources to bring more convenient medical services to patients with chronic diseases in China."
Professor ZHANG Junfeng, Director of cardiovascular department of Shanghai Ninth People's Hospital, JiaoTong University School of Medicine stated, "This partnership will allow cardiovascular patients to conveniently access educational materials regarding their diseases, treatment options, and effective disease management tools. This will improve the patients' quality of life, reduce costs, and provide doctors with additional tools to better help their patients. "
About Chugai Pharma China
Chugai Pharmaceutical Co., Ltd. (Chugai) was founded in Japan in 1925. As an important member of the Roche Group, Chugai is actively involved in R&D activities in Japan and abroad, having developed world-class technologies for antibody engineering. In 1994 Chugai's business began in China with Granocyte® (granulocyte-colony stimulating factor; G-CSF) launch. Aiming to become a top pharmaceutical company, in March 2014 Chugai Pharma China Co., Ltd. was established with the main function of import, manufacturing and sales/marketing. On the 1st of July 2015, Chugai Pharma China Co., Ltd. and Chugai Pharma (Shanghai) Consulting Co., Ltd. integrated into Chugai Pharma China in order to strengthen the pharmaceutical operation for getting further business development in China. Cardiovascular , Oncology and bone/joint diseases are positioned as Chugai Pharm China's strategic areas where we accelerate introducing the new products into China market to contribute to the benefit of the medical community and human health in China.
For more information about Chugai Pharma China, please visit https://cpcc.chugai.com.cn.
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading tech-enabled healthcare platform company committed to digitally connecting patients with medicine and healthcare services in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, 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 platform, 1 Medicine, 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/.
Forward-Looking Statements
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111's strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For more information, please contact:
111, Inc.
Investor Relations
Stephen Kilmer
Phone: +1 646-274-3580
Email: stephen@kilmerlucas.com
111, Inc.
Investor Relations
Email: ir@111.com.cn
111, Inc.
Media Relations
Email: press@111.com.cn
Phone: +86-021-2053 6666 (China)
View original content:https://www.prnewswire.com/news-releases/111-inc-announces-strategic-partnership-with-chugai-pharma-china-co-ltd-to-accelerate-innovations-in-chronic-disease-management-301407249.html
SOURCE 111, Inc.
FAQ
What is the partnership between 111, Inc. and Chugai Pharma China about?
How will the partnership benefit patients with chronic diseases in China?
What is the significance of 111, Inc. being the first e-commerce company to partner with Chugai?
What are the goals of the 'Healthy China 2030' initiative mentioned in the PR?
