SHANGHAI, Jan. 17, 2020 /PRNewswire/ -- Junling Liu, co-founder, Chairman, and Chief
Executive Officer of 111, Inc. (NASDAQ: YI) a leading integrated
online and offline healthcare platform, gave an address entitled
"Driving Transformation in China's Healthcare and Pharmaceutical
Industry" at the 38th Annual JP Morgan Healthcare
Conference (the "Conference").
The JP Morgan Healthcare Conference, from January 14-18, 2020, in San Francisco, is regarded as one of the
world's most important forums on the global healthcare sector from
an investment perspective, sharing insights on emerging industry
and investment trends. This year, participants joined from more
than 450 public and private companies, with 9,000 attendees
including industry leaders, investors and analysts.
At the conference, Chairman Liu represented China's online pharmaceutical and healthcare
industry. His presentation focused on the evolving landscape and
huge growth potential of China's
online pharmaceutical and healthcare industry, supported by new
national health sector reforms.
Chairman Liu said: "Healthcare is one of the largest and fastest
growing industries in China, and
is at a historical turning point. China's population is aging rapidly. By 2020,
more than 245 million people will be over 60. Chronic diseases
associated with aging are also rising. In 2019, there were more
than 300 million patients with chronic diseases. At the same time,
incomes are rising steeply, with sustained economic growth leading
to higher disposable incomes. The national average for disposable
income per capita was reported as US$4,000 in 2018, with urban disposable income
per capita as high as US$5,858. These
and other factors are leading to growth expectations in the
healthcare industry at an annual rate of 12% over the next five
years."[1],[2],[3],[4]
Since 2019, China has launched
a number of policies aimed at boosting the online pharmaceuticals
and healthcare industry. These include the Centralized Drug
Procurement Policy, initially introduced in 11 pilot cities
(the "4+7" Policy) which will expand to more provinces and regions.
China has also included online
medical services in its basic medical insurance, and the new
Drug Administration Law allows online sales of prescription
drugs under certain conditions.
Meanwhile, the industry still faces various pain points,
including high fragmentation, low operational efficiency, and lack
of transparency. 111's new omni-channel e-commerce platform
strategy has been designated to help pharmaceutical companies
commercialize the innovative drugs that will dominate the future
healthcare market as the "4+7" policy expands geographically. By
leveraging its proprietary integrated online and offline healthcare
platform, 111 will deliver value adding to pharmaceutical
manufacturers and enable them to expand coverage beyond their
current distribution channels - i.e., major hospitals in 1st and
2nd tier cities, large pharmacy chains and medical representatives,
to include additional pharmacies, clinics, private hospitals,
community hospitals, hospitals in 3rd to 6th tier cities and
patients.
111 has also introduced a new life-cycle patient management
solution, which provides the patients with consultation, medication
guidance, chronic disease management and online prescription drugs refills, in an
effort to improve medication adherence rates.
Chairman Liu added: "We are confident that within the next three
years, 111 will cover over 400,000 pharmacies, clinics and
hospitals, serve over 100 million patients directly and indirectly,
and establish strategic partnerships with more than 1,000 leading
pharmaceutical companies. Against the backdrop of a favorable
policy environment, in the latest version of our T2B2C strategy we
are building an omni-channel e-commerce platform. Going forward,
111 will remain committed to its mission of 'Technology for Better
Healthcare', leveraging our innovative business model and
technological expertise to upgrade and transform the industry value
chain. We will work to create a more efficient and transparent
healthcare ecosystem serving the demands of the domestic Chinese
market."
[1] Health China Action
2019-2030;
|
[2] Health Management Blue Paper
2018: China's Health Management and Health Industry Development
Report
|
[3] National data form the National
Bureau of Statistics of China
|
[4] China Pharmaceutical Market
Development Outlook and Investment Opportunities Analysis Report
2018-2023 by the Chinese Academy of Industry Economy
Research
|
Safe Harbor Statement
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
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.