Jul 08, 2016 06:15 PM

Ali Health Buys Out Pharmacy With License to Sell Drugs Online for US$ 2.5 mln

By staff reporter Li Yan

(Beijing) – E-commerce giant Alibaba's healthcare subsidiary acquired a drugstore with a license that allows it to sell over-the-counter medicines online, its latest attempt to enter the rigidly-regulated pharmaceuticals market.

Alibaba Health Information Technology Ltd., or Ali Health, said on July 6 that it purchased a drugstore chain, Wuqiannian Medicine Co. Ltd., for 16.8 million yuan, or US$ 2.5 million.

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