China Jo-Jo Drugstores Steps in to Help Combat the 2019 Novel Coronavirus

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Feb 03, 2020, 17:00 ET

HANGZHOU, China, Feb. 3, 2020 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products and a provider of healthcare services in China, today announced that the Company has pledged to provide assistance to those affected by the contagious virus and fight against the 2019 Novel Coronavirus, or coronavirus^[1] outbreak in Hangzhou, China, where the Company is headquartered.

To stabilize the medical supply in the market and protect people's safety in Hangzhou, the Company has intensified its efforts to help control the spread of the coronavirus in several perspectives including:

issuing an initiative (the "Initiative") with other local major pharmacy chain stores and medical association to the public, promising and encouraging to run business with honesty and integrity, and to allocate medical supplies rationally in reaction to the sell-out of multiple medicines resulting from people's fear posed by the virus outbreak.
establishing the "24-hour Coronavirus Emergency Team" and formulating the "Wuhan Pneumonia Emergency Plan" to ensure the implementation of the coronavirus prevention and control work.
entering into emergency work status and contacting over 1,200 domestic and foreign vendors to allocate medical supplies to stabilize the market and to resist the spread of coronavirus.
setting up a coronavirus channel on the Company's online hospital platform to provide medical consultation services and to provide customers with a 24-hour service hotline.
popularizing news and information of coronavirus through various social media platforms to teach people methods to defend against the virus and to shore up the hope to reduce their fears of the virus diffusion.

Mr. Lei Liu, Chief Executive Officer and Chairman of Jo-Jo Drugstores, commented, "We are paying close attention to the situation and development of the coronavirus. We issued the Initiative in the first time with Hangzhou Pharmaceutical Industry Association and nine local influential pharmacy chain companies, representing an associated business network covering more than 1,000 pharmacies, accounting for about 70% of the total number of pharmacies in Hangzhou. So far, we have assembled more than 200,000 protective masks, nearly 10 tons of disinfection products, and more than 10 varieties of medicines in short supply, totaling over 300,000 boxes. As a member of the community and a listed company, it is our duty to make contributions to the society. We look forward to overcoming the difficulties and fulfilling our mission of providing quality medical services to make the people healthier."

^[1]2019 Novel Coronavirus (2019-nCoV) is a virus (more specifically, a coronavirus) identified as the cause of an outbreak of respiratory illness first detected in Wuhan, China. Early on, many of the patients in the outbreak in Wuhan, China reportedly had some link to a large seafood and animal market, suggesting animal-to-person spread. However, a growing number of patients reportedly have not had exposure to animal markets, indicating person-to-person spread is occurring. At this time, it's unclear how easily or sustainably this virus is spreading between people. The latest situation summary updates are available on The Centers for Disease Control and Prevention's web page 2019 Novel Coronavirus, Wuhan, China.

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc. ("Jo-Jo Drugstores" or the "Company"), is a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products and a provider of healthcare services in China. Jo-Jo Drugstores currently operates an online pharmacy and retail drugstores with licensed doctors on site for consultation, examination and treatment of common ailments at scheduled hours. It is also a wholesale distributor of products similar to those carried in its pharmacies. In addition, Jo-Jo Drugstores cultivates herbs used for traditional Chinese medicine. For more information about the Company, please visit http://jiuzhou360.com. The Company routinely posts important information on its website.

Forward-Looking Statements

This press release contains information about the Company's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company's encourages you to review other factors that may affect its future results in the Company's annual reports and in its other filings with the Securities and Exchange Commission.

For more information, please contact:

Company Contact:
Frank Zhao
Chief Financial Officer
+86-571-88077108
[email protected]

Steve Liu
Investor Relations Director
[email protected]

Investor Relations Contact:
Tina Xiao
Ascent Investor Relations LLC
+1-917-609-0333
[email protected]

SOURCE China Jo-Jo Drugstores, Inc.