111, Inc., Scrianen Announce Strategic Direct Supply Partnership to Expand Nationwide Reach and Improve Drug Accessibility
111, a leading tech-enabled healthcare platform, has entered into a strategic partnership with Beijing Scrianen Pharmaceutical to expand nationwide reach and improve drug accessibility. This collaboration will enhance their existing relationship, leveraging big data, digital marketing, and cloud services to make Scrianen's products, including Scrianen Folic Acid Tablets, more accessible both online and offline.
Since 2017, 111 has been a partner in Scrianen's Authentic Alliance. 111 operates an integrated healthcare ecosystem comprising online and offline pharmacies, digital distribution, and SaaS-based services. The partnership aims to utilize both companies' resources to deliver higher-quality healthcare products to a broader audience in China.
- 111's strategic partnership with Scrianen aims to expand nationwide drug accessibility.
- Enhanced use of big data, digital marketing, and cloud services for efficient distribution.
- 111's comprehensive healthcare ecosystem includes '1 Pharmacy', '1 Clinic', '1 Medicine', and '1 Health Membership program'.
- The partnership leverages 111's existing collaborations with over 500 pharmaceutical companies.
- Scrianen's flagship product, 'Scrianen Folic Acid Tablets', has international recognition and approval.
- 111's success relies heavily on the seamless integration and execution of big data and digital marketing strategies.
- Partnerships and expansions could lead to increased operational costs and resource allocation.
- The success of the partnership is contingent on maintaining high-quality standards and meeting regulatory requirements.
The partnership between 111, Inc. and Scrianen could significantly bolster both companies' market positions. For 111, this collaboration is strategic as it amplifies their existing capabilities in the healthcare distribution market, enhancing their integrated online and offline healthcare ecosystem. By integrating Scrianen’s products, especially the ‘Scrianen Folic Acid Tablets’ with high regulatory approval and recognition, 111 can cater to a broader segment of the market. This could potentially increase their revenue streams through better product variety and higher market penetration.
For Scrianen, leveraging 111's extensive digital and logistics network will likely result in improved distribution efficiency and market reach. This might translate into higher sales and better market visibility for Scrianen’s products. Financially, this partnership could result in economies of scale, cost synergies and shared digital marketing expenses, contributing positively to both companies' bottom lines.
However, investors should monitor the execution of this partnership closely. The success will largely depend on how effectively 111 can integrate and manage Scrianen's products within its own ecosystem and how well these products resonate with the end consumers.
The collaboration between 111, Inc. and Scrianen is a strategic move to enhance market penetration and accessibility of healthcare products. The use of big data, digital marketing and cloud services is poised to make significant inroads in the retail pharmaceutical market. This aligns with the current trend of digital transformation in the healthcare sector, which is expected to grow substantially in the coming years.
This partnership also highlights the ongoing trend towards holistic and integrated healthcare solutions, combining both online and offline channels. By leveraging 111’s extensive network and digital capabilities, Scrianen can potentially enhance its brand presence and customer reach. This is particularly relevant for products like 'Scrianen Folic Acid Tablets,' which already have a strong reputation and regulatory backing. The enhanced distribution efficiency can lead to greater product availability and accessibility, ultimately benefiting consumers.
However, consumers’ response to these integrated services and the ability to maintain a high standard of service across both digital and physical platforms will be key factors to watch. The retail investor should consider the scalability and sustainability of this initiative in the long term.
The signing ceremony of the Partnership was attended by Dr. Gang Yu, co-founder and executive chairman of 111, Bin Yi, chairman of Scrianen, and senior management teams from both companies. This new agreement aims to enhance their existing collaboration, focusing on a range of products including "Scrianen Folic Acid Tablets" for nationwide distribution.
Since 2017, 111 became a strategic partner in Scrianen's Authentic Alliance. This latest Partnership deepens their retail market cooperation by leveraging big data, digital marketing, and cloud services to help Scrianen's medications and pregnancy-related products reach a broader online and offline market with added efficiency to broaden drug accessibility. Both companies expressed strong confidence in the upgraded strategic partnership and pledged to fully utilize their respective resources and strengths to bring higher-quality healthcare products and convenient services to a wider user group in
111 has developed an integrated online and offline healthcare ecosystem that includes the online retail pharmacy named "1 Pharmacy", self-operated offline pharmacies, online doctor-patient management services "1 Clinic", digital pharmaceutical distribution services "1 Medicine", and SaaS-based services "1 Health Membership program". As a crucial digital service platform for the healthcare industry's upstream and downstream, 111 empowers various stakeholders including pharmaceutical companies, pharmacies, hospitals, and drug distributors. It has established strategic partnerships with over 500 renowned domestic and international pharmaceutical companies, serving more than 470,000 individual and small-to-medium chain pharmacies nationwide.
Scrianen's business spans reproductive health, maternal and child health, orthopedics, oncology, gynecology, pediatrics, and geriatric diseases. Their flagship product, "Scrianen Folic Acid Tablets," received new drug certification and production approval from the National Health Commission in 1997, becoming the first 0.4mg folic acid tablet available worldwide. The World Health Organization has set its quality standards as the international benchmark, and it is included in the Chinese Pharmacopoeia.
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
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in
For more information on 111, please visit: http://ir.111.com.cn/.
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SOURCE 111, Inc.
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