HANGZHOU, China, Aug. 8, 2016 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD)
(the "Company" or "China Jo-Jo"),
announced that it plans to expand the number of its retail
pharmacies to 100 over the next twelve months. These additional
retail pharmacies will be located in Hangzhou, and will be a mixture of new stores
and rebranded ones.
"We are excited to expand our retail pharmacy network in
Hangzhou," said Mr. Liu Lei, Chairman and CEO for China Jo-Jo. "Our proven retail pharmacy model
has expanded to include premium value added services such as
virtual doctor clinic services, in-store prescription dispensary
services and chronic disease management programs. We look forward
to bringing innovative wellness options and expanded access to care
to more pharmacy customers."
China Jo-Jo operated 62 retail
pharmacies as of July 26, 2016. With
the addition of new and rebranded pharmacies, the Company will
consolidate its retail pharmacy leadership in Hangzhou, which has a trillion yuan local
economy and one of the highest spending urban consumers in
China.
"According to China Association of Pharmaceutical Commerce,
sales in retail pharmacy grew 8.6% year-over-year to reach
332.3 billion yuan in 2015. We are
capitalizing on the growth momentum of the industry to expand our
sales channel and build a larger store network for our integrated
online and offline pharmacy business model," added Mr. Liu.
About China Jo-Jo Drugstores,
Inc.
China Jo-Jo Drugstores, Inc., is
a leading China-based pharmacy with retail, wholesale and online
distribution of pharmaceutical and health care products through its
own online and retail pharmacies. As of July
26, 2016, the Company had 62 retail pharmacies in
Zhejiang Province, China. The
Company's wholesale subsidiary not only supplies its retail stores,
but also distributes drug and other healthcare products to other
drugstores and drug vendors. For more information, please visit:
www.jiuzhou-drugstore.com (Chinese) and www.chinajojodrugstores.com
(English).
Forward Looking Statement
Statements in this press release regarding the Company that are
not historical facts are forward-looking statements and are subject
to risks and uncertainties that could cause actual future events or
results to differ materially from such statements. Any such
forward-looking statements, including, but not limited to,
financial guidance, are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
statements can be identified by the use of forward-looking
terminology such as "believe," "expect," "estimate," "may," "will,"
"should," "project," "plan," "seek," "intend," "anticipate," the
negatives thereof, or comparable terminology. Such statements
typically involve risks and uncertainties and may include financial
projections or information regarding the progress of new product
development. It is routine for the Company's internal projections
and expectations to change as the quarter and year progresses, and
therefore it should be clearly understood that the internal
projections and beliefs upon which the Company bases its
expectations may change. Although these expectations may change,
the Company is under no obligation to inform you if they do. Actual
results could differ materially from the expectations reflected in
such forward-looking statements as a result of numerous factors,
including the risks associated with the effect of changing economic
conditions in the People's Republic of
China, variations in cash flow, reliance on collaborative
retail partners and on new product development, variations in new
product development, risks associated with rapid technological
change, and the potential of introduced or undetected flaws and
defects in products. Readers are referred to the reports and
documents filed from time to time by the Company with the
Securities and Exchange Commission for a discussion of these and
other important risk factors that could cause actual results to
differ from those discussed in forward-looking statements. Other
than as required under the securities laws, the Company does not
assume a duty to update these forward-looking statements.
Investor Relations Contact:
Steve Liu
steve.liu@jojodrugstores.com
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SOURCE China Jo-Jo Drugstores,
Inc.