Alibaba Group Holding Ltd (NYSE:BABA) just like other pharmaceutical companies in China is closely eyeing the online health and drug distribution business as everything moves to the cloud. The e-commerce giant plans to work with pharmacy chains across the country that will be used to handle the orders for drugs it receives online.
Shanghai Pharmaceutical company is looking to provide 020 sales of prescription drugs as well as health management services for patient’s .The company’s head of strategic operations, Liu Dawei, affirms that the new venture plans to build on prescription drugs that are not covered by China’s national medical insurance scheme within the next six months. The company also plans to expand its catalogue of drugs to cover areas of Cancer, antibiotics, as well as liver disease.
Alibaba Group Holding Ltd (NYSE:BABA) is also pursuing the business, having already set up an Alibaba health information Technology (ALI Health). The portal essentially allows customers to look for prescribed drugs and compare their prices.
Ali Health specializes in offering a wide array of information management solutions for hospitals operating online drug stores. Alibaba has also signed a strategic partnership with Guangzhou Women and Children’s Medical Center that will see the hospital adopting the company’s hospital information system.
Alibaba Group Holding Ltd (NYSE:BABA) has already invited the 180,000 clinics in the country to join its online cloud platform as the company moves to make its presence felt in the online drug market. The e-commerce sensation has also established a partnership with three major pharmacy’s in the northern city of Shijiazhuang in addition to eight more chains in its home base of Hangzhou.
The entry of Alibaba Group Holding Ltd (NYSE:BABA) into the space is expected to have a disruption effect especially to smaller drug makers operating online sales. The size of Alibaba justifies the fact that the company will be able to store many drugs many of which may be sold on a discount knocking off smaller drug makers, upon receiving a license for the sale of prescription drugs.
Despite the fact that China has not yet lifted the restriction on the sale of prescription drugs online, many internet, and pharmaceutical companies continue to adopt the online medical service and drug distribution business.
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