Meituan Dianping and GSK to explore new business models for OTC drugs

Recently, Meituan Dianping and GlaxoSmithKline Consumer Healthcare China announced a cooperation. The two parties will jointly deepen China’s over-the-counter drug (OTC) industry。

Recently, Meituan Dianping and GlaxoSmithKline Consumer Healthcare China announced a cooperation.

The two parties will jointly deepen China’s over-the-counter drug (OTC) industry and jointly build a pharmaceutical O2O model based on local services to provide consumers with a richer product range and more convenient drug purchase services.

According to reports, in recent years, the market scale of China’s OTC industry has continued to grow.

According to data from the China Medical Association, the industry’s compound annual growth rate reached 7.7%, which is much higher than the global average growth rate, and China’s OTC market has huge potential for development.

The cooperation between Meituan Dianping and GlaxoSmithKline is said to be launched from three aspects:

First of all, the two parties will serve consumers as the core and jointly build online supply.

Secondly, the two parties helped GlaxoSmithKline to deepen consumers’ awareness of the company’s products through integrated online and offline life service marketing.

Finally, the two parties use more online marketing tools to accumulate digital assets and form real-time and visual data analysis to provide scientific optimization guidance for brand marketing and supply strategies.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/08/19/meituan-dianping-and-gsk-to-explore-new-business-models-for-otc-drugs/.

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