Deal seeks to tap online drug sales
Print Edition
SHANGHAI Pharmaceutical Holding said it has teamed up with e-commerce company JD.com to further tap the boom in online drug sales.
The two companies will increase their investment in Shanghai Pharmaceutical Holding Grand Health Cloud Business Co, which was set up in March.
The investment will be completed within three months, according to a joint statement yesterday, without revealing the investment amount.
Shanghai Pharma will sell prescription drugs on JD.com’s e-commerce platform under an exclusive agreement, and they will share sales data and resources of prescription drugs.
JD.com will improve logistics distribution network to further boost drug sales.
The tie-up will allow Shanghai Pharma to adapt more quickly to e-commerce trends, according to its stock exchange filing.
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