SHANGHAI, June 11,
2024 /PRNewswire/ -- 111, Inc. ("111" or the
"Company") (NASDAQ: YI), a leading tech-enabled healthcare platform
company committed to reshaping the value chain of healthcare
industry by digitally empowering the upstream and downstream in
China, announced that the Company
has entered into a strategic direct supply partnership (the
"Partnership") with Beijing Scrianen Pharmaceutical Co., Ltd.
("Scrianen"), a comprehensive pharmaceutical enterprise that
integrates research and development, production and marketing.
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 China.
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 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.
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 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/.
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SOURCE 111, Inc.