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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