Chinese Internet security company Qihoo 360 has signed a strategic cooperation framework with Guohua, a subsidiary of Sinopharm Group, to establish a medical e-commerce joint venture.
With the cooperation, the two parties will create an online pharmaceutical sales platform to solve the difficulties and high-price issue in the medical care sector for medical distribution. Many forms of pharmaceutical products are illegal to be sold online in China, so the companies have not specified how ow what they are doing to avoid these regulatory issues.
Meanwhile, the two parties said they will implement more cooperation in the online medical sector in the future.
Sinopharm Group operates over 30,000 kinds of drugs and health products, including prescription and non-prescription drugs, personal care products, and medical supplies. As a national pharmaceutical group, Sinopharm will provide unprecedented price and resource supports to the emerging e-commerce platform.