Alibaba Health revenue soars on robust online pharmacy sales

 17-May-17, South China Morning Post 

Alibaba Health Information Technology reported a massive 739 per cent year-on-year revenue increase to Mar-17, on the back of its pharmaceutical e-commerce business. Revenues rose to RMB475 mn (USD69 mn) from RMB57 mn (USD8.3 mn) the previous year, driven by sales through its online retail pharmacy for over-the-counter drugs. 

Image: South China Morning Post

Despite the huge rise in turnover, the Hong Kong-listed health care flagship of Alibaba Group – known as Ali Health – made a net loss because of costs in areas such as product development. 

The company started the business in Aug-16 after a buyout of online drug retailer Guangzhou Wu Qian Nian Pharmaceutical Chain.

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