China Jo-Jo Drugstores Hosts the First Suppliers Conference in China

Rhea-AI Summary

China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) recently hosted its inaugural suppliers conference in Hangzhou, China, attended by around 200 supplier representatives. The event resulted in strategic cooperation framework agreements with 11 notable companies, including Pfizer and AstraZeneca. CEO Lei Liu emphasized the importance of ethical conduct and adaptability amid the evolving pharmaceutical landscape in China. Jo-Jo Drugstores aims to enhance its product offerings and maintain strong relationships with suppliers as it faces challenges in the post-epidemic era.

Positive

• Entered into strategic cooperation agreements with 11 reputable companies, enhancing supplier relationships.
• The conference emphasized collaboration, aiming to improve product integrity and affordability.

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• None.

HANGZHOU, China, Jan. 21, 2021 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that the Company hosted its first suppliers conference (the "Conference") in Haiwaihai International Conference Center of Hangzhou, China at the end of December 2020, which was attended by approximately 200 representatives of its suppliers. To fulfil its vision to make the world healthier, Jo-Jo Drugstores endeavors to work with its suppliers to ensure that all of its products and services meet the highest standards of integrity, affordability and sustainability.

During the Conference, the Company entered into certain strategic cooperation framework agreements (the "Agreements") with 11 prestigious companies including Direct-to-Patient (DtP) Medicine Branch of Huadong Pharmaceutical Co., Ltd., Pfizer Inc., Hangzhou MSD Pharmaceutical Co., Ltd., Sanofi (Hangzhou) Pharmaceuticals Co., Ltd., AstraZeneca plc., China Medical System Holdings Ltd., Beijing Novartis Pharma Co., Ltd. and Wyeth, LLC.

Mr. Lei Liu, Chairman and CEO of Jo-Jo Drugstores, commented, "The Conference allowed Jo-Jo Drugstores to talk directly with 200 suppliers about the Company's outlook, our commitment to ethics and business conduct, and our supply chain initiatives. The retail industry of China's pharmaceutical and other healthcare products is entering into an era of fast development filled with tremendous challenges and opportunities brought by the current complicated economics situation. The Company will take flexible and appropriate actions to face the changes in the post-epidemic era, implement product, service, and professional empowerment, and cooperate closely with our suppliers to achieve further success in the future."

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. 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
frank.zhao@jojodrugstores.com

Steve Liu
Investor Relations Director
steve.liu@jojodrugstores.com

Investor Relations Contact:

Tina Xiao
Ascent Investor Relations LLC
+1-917-609-0333
tina.xiao@ascent-ir.com  

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SOURCE China Jo-Jo Drugstores, Inc.

FAQ

What strategic agreements did China Jo-Jo Drugstores make at the conference?

China Jo-Jo Drugstores entered into strategic cooperation framework agreements with 11 prestigious companies including Pfizer, AstraZeneca, and Huadong Pharmaceutical.

When did China Jo-Jo Drugstores hold its first suppliers conference?

The first suppliers conference by China Jo-Jo Drugstores took place in December 2020.

Where was the first suppliers conference of China Jo-Jo Drugstores held?

The conference was held at the Haiwaihai International Conference Center in Hangzhou, China.

What is the purpose of the strategic agreements by China Jo-Jo Drugstores?

The purpose of the agreements is to enhance collaboration with suppliers and ensure high standards of product integrity and sustainability.