POMDOCTOR forms partnerships with pharmaceutical companies

POMDOCTOR LIMITED (NASDAQ: POM) announced partnerships with pharmaceutical companies to expand its internet hospital business operations in China. The online medical services platform has entered agreements with several companies including Jiangsu Haosoh Pharmaceutical Group Co., Ltd., Xiamen Amoytop Biotech Co., Ltd., Shenyang Sinqi Pharmaceutical Co., Ltd., and Eddingpharm (Suzhou) Co., Ltd.

The partnerships allow POMDOCTOR to offer pharmaceutical products through its internet hospital platforms while providing drug manufacturers with distribution channels. Under the agreements, POMDOCTOR receives purchase discounts, rebates, and sales incentives when achieving specified revenue targets.

China's online drug sales market grew from approximately RMB 19 billion in 2020 to RMB 71.8 billion ($10.3 billion) in 2024, representing a compound annual growth rate of 39.4%, according to data from Yaozh.com, a pharmaceutical data service provider.

"Our flexible collaboration models create win-win outcomes for both POMDOCTOR and our pharmaceutical partners by effectively integrating the strengths of each party in a cost-efficient manner," said Zhenyang Shi, Chairman and Chief Executive Officer.

POMDOCTOR operates as an online medical services platform for chronic diseases in China. The company ranked sixth in China's internet hospital market based on contracted doctors in 2022, according to Frost & Sullivan. The platform connects patients with doctors and pharmaceutical products through its internet hospital and pharmaceutical supply chain operations.

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