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Alibaba’s Healthcare Unit Finds Tonic for Profits

Ding Yi / Nov 27, 2020 07:03 PM / Business & Tech

Alibaba’s healthcare subsidiary AliHealth turned a profit in its latest reporting period, as medicine and healthcare product sales at its self-run online store grew significantly.

During the six months from April to September, Hong Kong-listed AliHealth made a net profit of 279 million yuan ($42 million), in sharp contrast to a 7.6 million yuan loss in the same period last year, according to the company’s latest financial report.

The company attributed the U-turn to a rapid user base expansion, the benefits of its April acquisition of a medicine e-commerce business from Ali JK Nutritional Products Holding Ltd., and fast sales growth for its self-run online pharmacy.

During the period, AliHealth’s revenue totaled 7.2 billion yuan, up 74% year-on-year. Nearly 84% of the total came from medicine and healthcare product sales at its online pharmacy, which jumped 75.7% year-on-year, according to the report.

AliHealth said its drugstore had 65 million active consumers as of the end of September.

Contact reporter Ding Yi (yiding@caixin.com)


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