After the announcement of its RMB100 million (around US$16.3m) plan to set up a pharmaceutical production joint venture, Guangzhou Baiyunshan Pharmaceutical has further revealed that it has recently received RMB500 million funding via a private placement from Yunfeng Capital, the investment vehicle co-founded by Alibaba‘s Jack Ma.

Baiyunshan said that it has signed a letter of intent with Alibaba Health Information Technology Ltd regarding cooperation on online drug platform and pharmacy business development. They will primarily focus on advancing collaboration on drug e-commerce and medical and healthcare services, as well as the general healthcare industry.

As we have previously reported, Alibaba – said to already control about 40% of the online pharma market – has been further expanding its market share via acquisitions and collaboration with pharmaceutical companies, online pharma platforms and startups providing innovative pharma related apps. Last year, the e-commerce giant, in partnership with Yunfeng, bought the internet drug platform CITIC 21CN, which is now called Alibaba Health Information Technology Ltd.

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Scully Wan

Beijing based tech contributor. Follows social media, e-commerce, digital currency, healthcare and life science, economy, fashion and design, and everything that involves inter-cultural phenomena. You...