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阿裏、京東被禁止網上賣藥?藥品網售新規影響幾何?

今日港股互聯網醫療板塊受到重挫,午後跌幅進一步加大。阿裏健康盤中跌超16%,京東健康跌超17%,平安好醫生跌超7%。

消息面上,日前,國家藥監局發佈的《中華人民共和國藥品管理法實施條例(修訂草案徵求意見稿)》(以下簡稱《徵求意見稿》),歷時一個月的公開徵求意見已正式截止。此次新增的第八十三條中明確規定:第三方平臺提供者不得直接參與藥品網絡銷售活動

根據官方定義,藥品網絡交易第三方平臺提供者(以下簡稱第三方平臺),是指在藥品網絡交易中提供網絡經營場所、交易撮合、信息發佈等服務,供交易雙方或者多方開展交易活動的法人組織或者非法人組織。

以阿裏健康和京東健康爲代表的B2C平臺就屬於這樣的第三方平臺,目前兩者均主要以“自營+平臺”的模式涉及非處方藥的網上零售。

徵求意見稿是否意味着自營業務不能繼續開展?各方如何解讀?

首先對於政策本身,某醫藥電商平臺業務負責人指出,醫藥電商業務模式的構建以及業務的推動是一個多方博弈的過程,《徵求意見稿》此次提出的不讓第三方平臺直接參與藥品網絡銷售這一意見在多年前就被探討過。

也有業內人士向21世紀經濟報道指出,“這個新規要等出臺落地了纔算數。”此前在網售處方藥的政策上也做了妥協。

有醫藥電商人士對第一財經記者表示,近期有關部門也召開了研討會討論上述事宜,但“第三方平臺提供者不得直接參與藥品網絡銷售活動”的規定最後能否落實,還存在一定的不確定性。

對於平臺的影響,某證券機構首席醫藥分析師指出,“需要從具體案例來看,例如,某一家平臺,它的自營業務佔95%,第三方平臺業務佔到5%,而這個新規一旦真的落地,基於現有的模式,該企業未來的業務模式肯定還是以自營爲主,不得不把第三方的業務剝離出去。如果某一家平臺的業務佔比較爲平均,那麼政策一旦落地就會對現有模式產生影響。這也要求醫藥電商平臺一定要看自營跟三方業務佔比情況,如果兩者都選的企業,後續一定要主攻一種經營模式。”

2021年財報顯示,京東健康全年收入307億元,其中以京東大藥房爲主要載體的自營收入爲262億元,佔比爲85.34%。另外據阿裏健康2022年財報,醫藥自營業務收入179億元,佔比87%。

不過也有業內人士認爲影響有限。

6月22日上午,一位業內人士接受《每日經濟新聞》記者電話採訪時表示,該規定目前引起了市場關於藥品網絡交易第三方平臺不能兼營第三方業務和自營業務的誤讀,但實際上大多數平臺的第三方業務和自營業務分別由不同公司管理,新規如果成真,對企業和行業的影響不大。該人士還表示,該新規的調整和解讀應該以官方最終頒佈的文件爲準。

有分析稱,像京東健康在平臺上進行的“自營藥品”是通過線下主體“青島安吉堂大藥房”來銷售,若政策嚴格執行,不排除電商自營通過剝離獨立公司等方式,獨立運營電商業務的可能性。

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