China's e-pharmacy worth over $1 billion and set to grow further; Report

11 April 2016

China's e-commerce businesses are expanding into pharmaceuticals as the government directs prescription drug sales away from hospitals and into retail outlets.

The online pharmacy business has grown from virtually nothing five years ago to more than 7 billion renminbi ($1.1 billion) in 2014, accounting for 3% of all retail medicine sales, according to a new analysis from Boston Consulting Group (BCG), reported by China’s state news agency Xinhua.

The boom may be only a prelude to explosive growth to come, provided that authorities allow online pharmacies to sell prescription drugs. Thus far, sales consist mainly of over-the-counter medicine, with very slim margins.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK