CJJD...$5.72
China Jo-Jo Drugstores Announces Opening of New Store Locations
China Jo-JO Drugstores (MM) (NASDAQ:CJJD)
Intraday Stock Chart
Today : Monday 9 August 2010
China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) ("Jo-Jo Drugstores" or the "Company"), which operates a retail pharmacy chain in Zhejiang Province, today announced store openings in the cities of Quzhou and Hangzhou, increasing Jo-Jo Drugstores’ total store count to 42 locations.
“We are excited about the new store openings,” stated Dr. Lei Liu, Chairman and CEO of Jo-Jo Drugstores. “We are continuing to utilize our April 2010 financing proceeds and are poised to fully execute on our plan to operate 60 locations in Zhejiang Province by March 31, 2011.”
Since March 31, 2010, the Company has opened 17 store locations in Zhejiang Province, including 3 acquired from existing drugstore operators and 14 opened directly by the Company. Of these 17 stores, 14 are located in and around Hangzhou where the Company is based, and 3 are in Quzhou, a city in southwestern Zhejiang Province with a population of 2.4 million. The Quzhou stores also mark the Company’s first foray outside of Hangzhou.
These additions signal the Company’s continuing commitment to provide access to quality prescription drugs, over-the-counter drugs, traditional Chinese medicine products, and personal care products at the lowest overall prices. The Company also provides access to licensed physicians providing customer consultations. Strategically focused in Zhejiang Province, the Company has organically grown from 1 location in 2003 to 42 locations as of August 9, 2010.
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