SHANGHAI, Nov. 29, 2019 /PRNewswire/ -- In a partnership
combining one of China's oldest
names in pharmaceuticals with one of its newest, 111, Inc. (NASDAQ:
YI) ("111" or the
"Company") is partnering with Tianjin Tongrentang
Group. Co., Ltd. to deliver traditional Chinese medicine using big
data and artificial intelligence, the drivers behind China's largest online pharmaceutical retailer
111. Founded in 1669, Tianjin Tongrentang will use 111's Internet
healthcare platform for direct sourcing. The 111 platform provides
online-offline channel integration, product promotion, big data
customer analysis, brand awareness and patient education. The
partnership will make it easier for patients and households to
access the full range of Tianjin Tongrentang's traditional Chinese
medicine products and services.
The cooperation will leverage 111's integrated online-offline
healthcare platform and cover a wide range of Tianjin Tongrentang
products, expanding the company's addressable market for premium
products as well as products developed exclusively for the 111
online platform.
Following China's recent
healthcare reforms, the separation of drug prescription and
distribution has accelerated, and in particular, the expanded
geographical coverage of "4+7 Centralized Urban Pharmaceutical
Procurement Policy" has made online-offline retail channels outside
hospitals the new focus of pharmaceutical manufacturers. The
111-Tianjin Tong Ren Tang partnership will bring the latter's
products to tier 3, 4 and 5 cities as well as expand coverage to
include more pharmacies, private hospitals and clinics, and
leverage 111's nationwide supply chain and expertise in Internet
technology.
Dr. Gang Yu, Co-Founder and Executive Chairman of 111, commented
that Tianjin Tong Ren Tang is a time-honored brand with broad
product offerings, and 111 will assist it in delivering its
exclusive drugs and proprietary products to a wider market,
benefiting more consumers, and that
111 looks forward to deploying its technologies to spur continued
growth of this national and "centuries old" brand.
Zhang Yansen, Chairman of Tianjin
Tongrentang, said that, as a time-honored brand, Tianjin
Tongrentang has a business philosophy based on "integrity, product
quality, and innovation". He said that in recent years his company
has embraced the Internet and exploited Internet platforms to
continue business model innovation and to reduce middlemen in its
distribution chain and provide easier access to its high-quality
products and services.
About Tianjin Tongrentang
Tianjin Tongrentang Group Co., Ltd. is the owner and
manufacturer of two original brands "Tianjin Tongrentang" and
"Hongrentang" certified by the Ministry of Commerce as
"time-honored" brands. Tianjin Tongrentang has also received the
national Good Manufacturing Practice ("GMP") certification for its
production lines of tablets, hard capsules, granules, adhesive
plasters, syrups, oral solutions and powders. The company has 114
approved products, among which 22 are proprietary drugs, 34 are
included in the National Drug Catalogue for Basic Medical
Insurance, Work-related Injury Insurance and Maternity Insurance,
and 13 are included in the National Essential Drug List.
For more information on Tianjin Tongrentang, please visit
http://www.tjtongrentang.com/.
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading
integrated online and offline healthcare platform in China. The Company provides hundreds of
millions of consumers with better access to pharmaceutical products
and healthcare services directly through its online retail pharmacy
and indirectly through its offline pharmacy network. 111 also
offers online healthcare services through its internet hospital, 1
Clinic, which provides consumers with cost-effective and convenient
online consultation and electronic prescription services. In
addition to providing direct services to consumers through its
online retail pharmacy, 111 also enables offline pharmacies to
better serve their customers. The Company's online wholesale
pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to
source a vast selection of pharmaceutical products. The Company's
new retail platform, by integrating the front and back ends of the
pharmaceutical supply chain, has formed a smart supply chain, which
transforms the flow of pharmaceutical products to pharmacies and
modernizes how they serve their customers.
For more information on 111, please visit
http://ir.111.com.cn
For more information, please contact:
111, Inc.
IR Director
Ms. Monica Mu
E-mail: ir@111.com.cn
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
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SOURCE 111, Inc.