111, Inc. Becomes First Online Retail Platform for BGI's SARS-CoV-2 Virus Antigen Detection Kits
On March 14, 2022, 111, Inc. (NASDAQ: YI) entered a strategic partnership with Shenzhen BGI Co., Ltd. to distribute SARS-CoV-2 Virus Antigen Detection Kits through its online pharmacy, 1 Pharmacy. This collaboration will make 1 Pharmacy the first online platform in China to offer these kits, starting pre-sales this week. This initiative aims to enhance epidemic prevention efforts across China by providing better access to testing resources directly to consumers via a digital platform.
- Strategic agreement with BGI to distribute SARS-CoV-2 testing kits.
- 1 Pharmacy becomes the first online platform for BGI's antigen kits in China.
- Pre-sales of testing kits are set to begin this week, enhancing market presence.
- None.
SHANGHAI, March 14, 2022 /PRNewswire/ -- On March 14, 2022, 111, Inc. ("111" or the "Company") (NASDAQ: YI), a leading tech-enabled healthcare platform company signed a strategic cooperation agreement with Shenzhen BGI Co., Ltd. (SZ: 300676) under which BGI will supply its SARS-CoV-2 Virus Antigen Detection Kits (Immunofluorescence Chromatography) across China via 111's online pharmacy, 1 Pharmacy, in an effort to boost epidemic prevention and control nationwide. 1 Pharmacy will become the first online retail platform for BGI's SARS-CoV-2 Virus Antigen Detection Kits.
According to 111, pre-sale of the SARS-CoV-2 Virus Antigen Detection Kits will start this week. Consumers can place orders via 1 Pharmacy's app.
About BGI Co., Ltd.
BGI Co., Ltd. (SZ:300676) ("BGI" or the "Company") is the world's leading provider of genomic sequencing services and proteomic services, now serving customers in more than 100 countries. BGI provides academic institutions, pharmaceutical companies, health care providers and other organizations with integrated genomic sequencing and proteomic services and solutions across a broad range of applications spanning.
For more information on BGI Genomics, please visit: https://www.bgi.com/us/company/about-bgi/.
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.
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SOURCE 111, Inc.
FAQ
What is the significance of the partnership between 111, Inc. and BGI?
When will 111, Inc. start selling BGI's antigen detection kits?
What is 1 Pharmacy's role in the distribution of the SARS-CoV-2 detection kits?
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