Abstract
Retail pharmacies are the largest market for the sale of medicines in China. In recent years, outbound mergers and acquisitions have become an essential means of promoting the growth of the pharmaceutical industry, considering the industry's increasing concentration and degree of the chain. Furthermore, the background of the rise of domestic e-commerce combined with the stimulus of the covid-19 pandemic has ushered in a golden period for online pharmacy development. In addition, from the perspective of the policy environment, the prescription outflow trend will also drive the development of the pharmacy industry. In the future, the competition between online and physical pharmacies will become more intense. Chinese leading pharmaceutical companies have all made strategic moves to respond to changes in the industry. By introducing an example of a leading domestic company acquiring a small pharmacy, this paper aims to provide insight to investors into the strategic thinking of pharmacies in the context of the current industry development in China.
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