SHANGHAI, Feb. 16,
2023 /PRNewswire/ -- On February 15, 2023, 111, Inc. ("111" or the
"Company") (NASDAQ: YI), a leading tech-enabled healthcare platform
company in China, announced that
during the HuaTangNing® Market Launch for Innovative Commerce
Cooperation, Dr. Yu Gang, Co-founder
and Executive Chairman of 111, and Dr. Chen
Li, Founder and CEO of Hua Medicine (HKEx stock code:
2552.HK), jointly unveiled the plaque of Hua Medicine's first
official online flagship store on 111.
111 is committed to digitally connecting patients with medicine
and healthcare services, aspiring to build itself into an
integrated online and offline healthcare platform. The official
flagship store launched by Hua Medicine on 111 will serve as an
official window to showcase the outstanding brand image of Hua
Medicine and an important platform for Hua Medicine to better serve
both patients and doctors. For its part, 111 will further help Hua
Medicine expand its commercial layout, broaden its drug supply and
distribution channels, and explore innovative and diversified
supply service modes. The official flagship store will provide
patients with Hua Medicine's innovative treatment concepts, carry
out patient education on drug safety and other topics, and release
the latest news from Hua Medicine.
Dr. Yu Gang, Co-founder and
Executive Chairman of 111, said: "Hua Medicine is a leader in
innovative drug research and commercialization in China. Over the years, it has devoted
itself to the research and development of original drugs.
HuaTangNing®, a first-in-class drug of its
kind, is from Hua Medicine. The official opening of its
flagship store on 111 is a timely and innovative measure taken by a
Chinese innovative pharmaceutical company to embrace the Internet.
At the same time, it also marks a key milestone for 111 and Hua
Medicine in the exploration of online cooperation. 111 will work
with Hua Medicine to make cutting-edge innovative drugs more
accessible for diabetes patients, empower diabetes treatment as
well as patient management, and contribute value to society."
Dr. Li Chen, Founder and CEO of
Hua Medicine, said: "111 is a benchmark player in China's Internet medicine and healthcare
industry, equipped with leading digital technology and smart supply
chain. We are very much looking forward to Hua Medicine's
cooperation with 111, as we provide innovative solutions of health
management and medical services through the online flagship store.
In the future, Hua Medicine will continue to explore partnership
opportunities with Internet channels to benefit more diabetic
patients."
About Hua Medicine
Hua Medicine is an innovative drug development and
commercialization company based in Shanghai, China, focused on developing novel
therapies for patients worldwide with unmet medical needs. Based on
global resources, Hua Medicine teams up with global high-caliber
people to develop breakthrough technologies and products, which
contribute a global innovation in diabetes care. As Hua Medicine's
cornerstone product (dorzagliatin tablets), targeting the glucose
sensor, glucokinase, restores glucose sensitivity in T2D patients
and stabilizes the imbalance of blood glucose levels in patients,
it has been approved by the National Medical Products
Administration (NMPA) of China
in September
2022. It can be used alone or in combination with
metformin hydrochloride-tolerated T2D patients. For those patients
with chronic kidney disease (CKD) and Type 2 diabetes (i.e.,
diabetes kidney disease), no dose adjustment is required.
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.