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.

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