Tag: SUP

Health Care

The Sales from China Jo-Jo Drugstores’ Official Online Pharmacy Site Jumped More Than 200%

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HANGZHOU, China, April 6, 2015 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the “Company” or “China Jo-Jo“), a leading China-based retail and wholesale distributor that offers pharmaceutical and health care products through its online and retail pharmacies, today announced that, based on its preliminary internal estimate, the online sales from its official online pharmacy site, www.dada360.com, increased more than 200% during the latest quarter ending March 31, 2015 as compared to the same period last year. The total quarterly revenue generated from the Company’s own official online pharmacy site has exceeded RMB10,000,000 (approximately USD1.6 million).

The main growth engine was the online purchase from customers of certain commercial health insurance providers, such as Shanghai Jianbao Technology Co., Ltd. (“Shanghai Jianbao”), who issued and distributed Yikatong (the “E-Pharmacy-Card”), a popular pharmacy and health insurance benefit card with over 180,000 current users. As previously announced, the Company established a strategic partnership with Shanghai Jianbao early this year, and the two parties have since carried out close cooperation, including the integration and upgrades of their sales systems, and the development of a mobile App (such as WeChat). The goal of these devices is to direct the majority of Shanghai Jianbao’s online E-Pharmacy-Card transactions to the Company’s official website for pharmacy sales. The management expects that its online sales to reach a monthly revenue of RMB 10 million (approximately USD1.6 million) by end of 2015.

Furthermore, China Jo-Jo has recently enforced major changes to its e-commerce site, such as modifying and optimizing product offerings based on its historical sales data, offering competitive prices and providing more technical features and sales supports to the fast growing mobile users. The Company will also launch a new direct sales campaign to all E-Pharmacy-Card holders, by utilizing emails, WeChat, and reward points program.

Mr. Lei Liu, Chairman of the Company, stated, “While we are thrilled to see the recent surge in the sales of our own online pharmacy, mainly driven by E-Pharmacy-Card business, we believe this is just the beginning of a long term trend. Due to the aging Chinese population and the rapidly growing healthcare cost, Chinese government strongly encourages private enterprises and individuals to participate in various commercial insurances and pharmacy benefit plans, in addition to the government sponsored Social Health Insurance (SHI) program. Our E-Pharmacy-Card business is one of the examples of our strategic decision to collaborate with commercial health insurance providers to leverage our online and offline pharmacy network. We hope to report more exciting news and financial performance to our shareholders in the coming months. “

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., through its own retail drugstores, wholesale distributor and online pharmacy, is a leading retailer and wholesale distributor of pharmaceutical and healthcare products in China. As of December 31, 2014, the Company had 60 retail pharmacies in Hangzhou. 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. The Company routinely posts important information on its corporate websites at 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.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/the-sales-from-china-jo-jo-drugstores-official-online-pharmacy-site-jumped-more-than-200-300061196.html

Health Care

China Jo-Jo Drugstore Forms Joint Venture with Leading Chinese Pharmacy Benefit Management Provider

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HANGZHOU, China, March 17, 2015 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the “Company” or “China Jo-Jo“), a leading China-based retail and wholesale distributor of pharmaceutical and health care products through its own online and retail pharmacies, today announced that the Company, through one of its controlled subsidiaries, Hangzhou Jiuzhou Grand Pharmacy Chain Co., Ltd. (“Jiuzhou Pharmacy”) has reached a joint venture agreement with Shanghai Jianbao Technology Co., Ltd. (“Shanghai Jianbao”), China’s leading Pharmacy Benefit Management (“PBM”) provider which owns and operates Yikatong (the “E-Pharmacy-Card”), a popular pharmacy and health insurance benefit card with over 180,000 current users to form a joint venture (the “JV”). The joint venture agreement requires Shanghai Jianbao to direct the majority of its online E-Pharmacy-Card transactions to China Jo-Jo’s official online pharmacy site, www.dada360.com, which is expected to significantly improve the Company’s online pharmacy revenue and profit margin in 2015.

According to the joint venture agreement, Shanghai Jianbao and Jiuzhou Pharmacy will hold 65% and 35% of the JV respectively. Shanghai Jianbao will be in charge of directing the online sales of Yikatong to China Jo-Jo’s e-commerce site, and has committed a minimum monthly sales volume of RMB 10 million (or approximately US$1.6 million) by the end of 2015. With over 180,000 E-Pharmacy Card users, the total online transaction of E-Pharmacy Card reached about RMB 300 million (or US$48 million) among five network pharmacies including Jiuzhou Pharamcy in 2014. It is expected that Shanghai Jianbao will shift the majority of those online sales volume to China Jo-Jo after the announced partnership. In return, China Jo-Jo, being one of handful online pharmacy license holders in China, will handle the actual online sales, procurement and delivery of pharmaceutical and health care products to E-Pharmacy Card users. Both sides agree that the JV will consider applying for a new online pharmacy license after monthly revenue achieves at least RMB 10 million and certain other eligibilities are met.

Mr. Lei Liu, Chairman of the Company, stated, “All future E-Pharmacy-Card businesses will be directed to our own online pharmacy, not via any third-party platform. This shall greatly enhance customer loyalty as well as our profit margin. It’s also a sustainable and recurring business model that is hard for our competitors to imitate. To ensure our goal of online pharmacy sales surpass sales of our retail stores within the next three years, we have to grow China Jo-Jo from a regional drugstore chain into a national online drugstore and fundamentally change our sales and distribution model. We aim to become one of the first drugstore chains by leveraging PBM model to effectively control the rising health care cost in China.”

About Yikatong (the “E-Pharmacy-Card “)

Yikatong, or E-Pharmacy Card is a pharmacy/health insurance benefit card service provided by Shanghai Jianbao and its affiliates. The card, which is mostly issued to the insured business entities and their employees and family members, turns the traditional medical insurance into tangible products. The users of Yikatong can purchase pharmaceutical and health care products and services in a network of healthcare institutes without going through the complex claiming procedures.

About Shanghai Jianbao

Shanghai Jianbao is the first Third-Party Administrator (TPA) for healthcare insurance that specialized in Pharmacy Benefit Management (PBM) in China. It has two subsidiaries, Hangzhou Yibao Healthcare Management Co., Ltd., and Shanghai Yibao Healthcare Management Co., Ltd..

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., through its own retail drugstores, wholesale distributor and online pharmacy, is a leading retailer and wholesale distributor of pharmaceutical and healthcare products in China. As of December 31, 2014, the Company had 60 retail pharmacies in Hangzhou. 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. The Company routinely posts important information on its corporate websites at 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,” “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.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-jo-jo-drugstore-forms-joint-venture-with-leading-chinese-pharmacy-benefit-management-provider-300051620.html

Health Care

China Jo-Jo Drugstores Reports Fiscal Year 2015 Third Quarter Financial Results

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HANGZHOU, China, February 17, 2015 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the “Company” or “China Jo-Jo“), a leading China-based retail and wholesale distributor of pharmaceutical and health care products through its own online and retail pharmacies, today announced earnings results for the quarter ended December 31, 2014.

FY 2015 Third Quarter Highlights:

  • Retail drugstores sales increased by $2.16 million, or 19.5% year over year, to approximately $13.3 million, largely due to a 24.3% increases in same-store sales;
  • Online pharmacy sales jumped 110.6% to approximately $4.4 million during the quarter, as compared to $2.1 million during the same period last year;
  • Gross profit increased by $3,002,949 or 1,676.8% compared to the same period of prior year;
  • Gross margin increased from 1.0% to 14.9% in the three months ended December 31,2014;
  • Net income was $127,525 compared to net loss of $8,735,230 for the same period last year; Diluted EPS was $0.01 compared to loss per share of $0.64 for the comparable quarter of prior year.

Retail drugstores sales increased 19.5% primarily due to the 24.3% increase in same-store sales in the third quarter of 2015. Our retail drugstores sale growth rate is more than twice of the industry average. By acquiring Sanhao Pharmacy during the recent quarter, selecting products catering to local community, and continuing to provide quality in-store service such as doctors’ in-store clinics service, we expect to further strengthen our competitive advantage in Hangzhou and Zhejiang Province.

The Company’s online pharmacy sales increased dramatically for the three months ended December 31, 2014, more than double the sales as compared to that of the three months ended December 31, 2013. We have expanded cooperation with business-to-consumer online vendors, including Taobao, JD.com and Amazon.com. In addition, we have signed a service agreement with Alipay (China) Internet Technology Ltd. (“Alipay”) to launch an online payment service (“Alipay Service”) for its customers, which gives us a great opportunity to get access to Alipay’s over 300 million registered users. We expect online pharmacy sales will continue to grow fast in the future, especially considering the potential authorization of the online sale of prescription drugs in 2015.

Mr. Lei Liu, Chairman and CEO of the Company stated, “We are glad to see that our company delivered a solid performance as we achieved quarterly profitability as compared to last year’s large deficits . What’s more exciting is the rapid increase in our e-commerce revenue, which greatly contributed to our total revenue. In the next two to three years, the online pharmacy sales would probably exceed our retail drugstore sales and make the Company one of the leading online pharmacy stores in China. Now it’s only a turning point. Going forward, we will continue to focus our efforts on developing e-commerce opportunities, and drive our physical stores network and sales growth.”

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., through its own retail drugstores, wholesale distributor and online pharmacy, is a leading retailer and wholesale distributor of pharmaceutical and healthcare products in China. As of December 31, 2014, the Company had 60 retail pharmacies in Hangzhou. 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. The Company routinely posts important information on its corporate websites at 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,” “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.

Contact:

China Jo-Jo Drugstores, Inc.
Ming Zhao, Chief Financial Officer
+1-561-372-5555
frank.zhao@jojodrugstores.com

See Accompanying Tables

CHINA JO-JO DRUGSTORES, INC., AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

December 31,

March 31,

2014

2014

ASSETS

CURRENT ASSETS

Cash

$

1,734,392

$

4,445,276

Restricted cash

9,989,227

3,114,543

Notes receivable

108,329

–

Trade accounts receivable, net

7,111,594

6,734,536

Inventories

9,777,878

7,047,397

Other receivables, net

988,640

149,546

Advances to suppliers, net

3,666,492

4,577,194

Other current assets

1,614,095

1,663,102

Total current assets

34,990,647

27,731,594

PROPERTY AND EQUIPMENT, net

9,378,160

9,412,688

OTHER ASSETS

Farmland assets

1,376,806

1,371,735

Long term deposits, landlord

2,576,118

2,786,437

Other noncurrent assets

2,767,155

3,036,930

Intangible assets, net

3,140,358

1,569,443

Total other assets

9,860,437

8,764,545

Total assets

$

54,229,244

$

45,908,827

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES

Short-term loan payable

$

32,580

$

162,300

Accounts payable, trade

13,366,998

14,554,726

Notes payable

14,939,135

7,820,718

Other payables

2,862,395

1,282,211

Other payables – related parties

1,972,931

2,384,294

Loan from third parties

215,843

294,042

Customer deposits

3,693,298

3,185,885

Taxes payable

450,340

373,501

Accrued liabilities

678,751

1,208,242

Total current liabilities

38,212,271

31,265,919

Purchase option and warrant liability

329,990

278,916

Total liabilities

38,542,261

31,544,835

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS’ EQUITY

Preferred stock; $0.001 par value; 10,000,000 shares authorized; nil issued and
outstanding as of December 31, 2014 and March 31, 2014

–

–

Common stock; $0.001 par value; 250,000,000 shares authorized; 15,385,504 and
14,416,022 shares issued and outstanding as of December 31, 2014 and March 31,
2014

15,386

14,416

Additional paid-in capital

18,824,368

17,355,555

Statutory reserves

1,309,109

1,309,109

Accumulated deficit

(8,517,159)

(8,260,767)

Accumulated other comprehensive income

4,016,336

3,905,136

Total stockholders’ equity

15,648,040

14,323,449

Noncontrolling interests

38,943

40,543

Total equity

15,686,983

14,363,992

Total liabilities and stockholders’ equity

$

54,229,244

$

45,908,827

CHINA JO-JO DRUGSTORES, INC., AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(UNAUDITED)

For the three months ended December 31,

For the nine months ended December 31,

2014

2013

2014

2013

REVENUES, NET

$

21,320,039

$

17,833,072

$

56,223,336

$

50,025,012

COST OF GOODS SOLD

18,138,006

17,653,988

47,765,427

43,296,356

GROSS PROFIT

3,182,033

179,084

8,457,909

6,728,656

SELLING EXPENSES

2,184,184

5,338,404

5,886,541

9,998,377

GENERAL AND ADMINISTRATIVE EXPENSES

622,113

3,700,466

2,449,489

6,833,265

TOTAL OPERATING EXPENSES

2,806,297

9,038,870

8,336,030

16,831,642

INCOME (LOSS) FROM OPERATIONS

375,736

(8,859,786)

121,879

(10,102,986)

OTHER INCOME (LOSS), NET

(106,773)

130,426

(275,301)

127,034

CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITIES

(127,431)

(41,944)

(51,074)

(50,328)

INCOME (LOSS) BEFORE INCOME TAXES

141,532

(8,771,304)

(204,496)

(10,026,280)

PROVISION FOR INCOME TAXES

14,007

(35,887)

52,828

43,222

NET INCOME (LOSS)

127,525

(8,735,417)

(257,324)

(10,069,502)

LESS: NET INCOME (LOSS) ATTRIBUTABLE TO
NONCONTROLLING INTEREST

(987)

187

932

694

NET INCOME (LOSS) ATTRIBUTABLE TO CHINA
JO-JO DRUGSTORES, INC.

126,538

(8,735,230)

(256,392)

(10,068,808)

OTHER COMPREHENSIVE INCOME (LOSS)

Foreign currency translation adjustments

52,740

259,814

111,200

1,019,605

COMPREHENSIVE INCOME (LOSS)

$

179,278

$

(8,475,416)

$

(145,192)

$

(9,049,203)

WEIGHTED AVERAGE NUMBER OF SHARES:

Basic

15,199,092

13,959,003

14,867,218

13,730,742

Diluted

15,596,554

13,959,003

14,867,218

13,730,742

LOSS PER SHARES:

Basic

$

0.01

$

(0.64)

$

(0.02)

$

(0.73)

Diluted

$

0.01

$

(0.64)

$

(0.02)

$

(0.73)

CHINA JO-JO DRUGSTORES, INC., AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

Nine months ended
December 31,

2014

2013

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$

(257,324)

$

(10,069,502)

Adjustments to reconcile net (loss) income to net cash provided by (used in) operating
activities:

Depreciation and amortization

1,240,323

1,646,066

Stock compensation

527,357

477,284

Bad debt recovery

(3,126,039)

(692,883)

Inventory reserve

277,603

–

Change in fair value of purchase option and warrant liability

51,074

86,379

Change in operating assets:

Accounts receivable, trade

1,566,629

2,278,341

Notes receivable

(108,096)

–

Inventories

(2,976,220)

(9,330,835)

Other receivables

(619,695)

(259,339)

Advances to suppliers

1,916,591

10,706,963

Other current assets

55,012

(1,009,632)

Long term deposit

220,146

–

Other noncurrent assets

280,399

133,648

Change in operating liabilities:

Accounts payable, trade

(1,236,808)

5,099,673

Other payables and accrued liabilities

390,535

1,074,755

Customer deposits

494,570

(909,992)

Taxes payable

75,296

82,942

Net cash used in operating activities

(1,228,647)

(686,132)

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of equipment

(898,522)

(457,609)

Increase in long-term deposits for land use right

–

(1,355,290)

Acquisition of business, net

(936,288)

–

Additions to leasehold improvements

(189,143)

(25,112)

Payments on construction-in-progress

(96,636)

–

Net cash used in investing activities

(2,120,589)

(1,838,011)

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from short-term bank loan

32,510

162,280

Repayment of short-term bank loan

(162,550)

–

Repayment of third parties loan

(79,116)

–

Change in restricted cash

(6,848,423)

(999,814)

Repayments of notes payable

(14,132,390)

659,246

Issuance of notes payable

21,206,663

–

Change in other payables-related parties

529,115

909,954

Net cash provided by financing activities

545,809

731,666

EFFECT OF EXCHANGE RATE ON CASH

92,543

375,042

DECREASE IN CASH

(2,710,884)

(1,417,435)

CASH, beginning of period

4,445,276

4,524,094

CASH, end of period

$

1,734,392

$

3,106,659

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Cash paid for interest

$

4,621

$

–

Cash paid for income taxes

$

59,755

$

9,529

Issuance of common stock in settlement of debts

$

941,613

$

–

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-jo-jo-drugstores-reports-fiscal-year-2015-third-quarter-financial-results-300035837.html

Health Care

China Jo-Jo Drugstore Joined Alibaba Health’s E-prescription Platform in Anticipation of Online Prescription Drugs Sales in China

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HANGZHOU, China, February 10, 2015 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the “Company” or “China Jo-Jo“), a leading China-based retail and wholesale distributor of pharmaceutical and health care products through its own online and retail pharmacies, announced that it has entered into a service agreement with Alibaba Health Information Technology Ltd.(HKSE: 0241) (“Alibaba Health”) to utilize the electronic prescription platform in preparing for the upcoming authorization from the China Food and Drug Administration (CFDA) on the online sales of prescription drugs in China.

Through Alibaba Health’s recently launched mobile app, Alijk, patients are able to upload and send photocopies of doctor’s prescriptions to nearby pharmacies so as to check the availability of medicines, compare the prices and eventually make the payments. Those qualified pharmacies partnering with Alibaba Health, such as China Jo-Jo, can then fill the orders via in-store purchase or home delivery service. By combining Alibaba Health’s online platform with the Company’s offline pharmacy expertise, China Jo-Jo believes this innovative business model will greatly benefit its customers, and open up new growth opportunities.

According to industry statistics, the annual Chinese pharmaceutical sales exceeds one trillion RMB (or $160 billion USD), and 80% of that are from sales of prescription drugs. Until now, the vast majority of prescription drugs are controlled by state-owned hospitals that rely on pharmaceutical sales for profits. With little or no competition, prescription drugs sold by these hospitals are overpriced, and doctors tend to over prescribe. Chinese government, to reform its rigid health care system, is therefore adopting zero percent drug markup policy in hospitals and allowing online sales of prescription medicine. We expect that the official policies for online sales of prescription drugs will be released in 2015.

Ms. Li Qi, Secretary and Director of the Company, stated, ‘We are very excited to team up with Alibaba Health to build a new future for ecommerce of pharmaceutical products. Besides assembling a dedicated team to work with Alibaba Health, we have also been actively focusing on procuring more products and building inventories, as well as recruiting qualified physicians and licensed pharmacists. As more and more sales of prescription drugs will be shifted from hospitals to both online and offline drugstores, all of these new initiatives are aim to capture new businesses.’

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., through its own retail drugstores, wholesale distributor and online pharmacy, is a leading retailer and wholesale distributor of pharmaceutical and healthcare products in China. As of September 30, 2014, the Company had 51 retail pharmacies in Hangzhou. 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. The Company routinely posts important information on its corporate websites at www.jiuzhou-drugstore.com (Chinese) and www.chinajojodrugstores.com (English).

About Alibaba Health Information Technology Ltd.

Alibaba Health Information Technology Limited, an investment holding company, provides integrated information and content services in the People’s Republic of China. It operates through Product Identification, Authentication, and Tracking System (PIATS) Business; and System Integration and Software Development segments. The company offers product tracking, recall, and enforcement information services to relevant authorities through the operation of PIATS; product tracking and logistics information services to manufacturers; and services to consumers for verifying product information and origins. Its PIATS is used for various products, such as drugs, food and beverage, cosmetics, and agricultural resources.

The company also provides telecommunications/information value-added services (VAS) comprising SMS, IVRS, and other telecom services; call center outsourcing service for telecom operators, financial institutions, and e-commerce companies; and other telecommunication/information VAS include IP phone service and business SMS services, as well as offers governmental, commercial, and entertainment information through its SMS and IVRS services. The company was formerly known as CITIC 21CN Company Limited and changed its name to Alibaba Health Information Technology Limited in September 2014.

Alibaba Health Information Technology Limited is an affiliate of Alibaba Group Holdings, Ltd. (BABA).

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,” “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.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-jo-jo-drugstore-joined-alibaba-healths-e-prescription-platform-in-anticipation-of-online-prescription-drugs-sales-in-china-300033604.html

Health Care PUB

Global Advances In Health And Medicine Launches Global Media Platform To Support An Evolving Health Care System

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— New Leadership and Editorial Management Team Established

BOSTON, Jan. 15, 2015 /PRNewswire/ — Global Advances in Health and Medicine (GAHM) announced today the launch of their new global multi-media publishing platform and a newly appointed interdisciplinary editorial leadership team. GAHM’s new platform serves as a breaking and scientific news resource for health, business and community leaders and patients who are dedicated to improving health and well-being through a whole-person and whole-systems approach to care.

GAHM’s unique publishing platform includes a peer-reviewed, indexed medical journal that provides original research articles, as well as multiple online forums that encourage breakthrough thinking, innovation, and analysis of policy initiatives, including a dynamic editor’s blog, a news blog dedicated to global integration of information, and an enhanced user experience. GAHM publishes its journal six times per year in print, digital and mobile formats, with abstracts in three different languages (English, Spanish, Chinese). Research and perspective articles are focused on diverse therapeutic and healing traditions and systems, including conventional biomedicine, integrative medicine, traditional Chinese medicine and other integrative therapies, such as art and music therapy, and reach readers in more than 40 countries.

“Our task is to build on the strong base we’ve developed during these past three years, as we believe now is the time to accelerate change towards innovative whole-person and whole-system approaches to health. The launch of our new publishing platform will help us build further on the growing global network of health care providers, researchers, clinicians, health policy experts and consumers that we’ve established,” explained Michele Mittelman, RN, MPH, founder and chief executive officer, GAHM.

GAHM was originally created in 2011. Since then, the natural integration of whole-systems care into the mainstream health care model, coupled with a growing use of technology for global sharing of information, has served as a driving force in the expansion of GAHM from an online medical journal to a comprehensive, global multimedia publishing platform.

GAHM’s editorial leadership is headed by a nationally and internationally recognized interdisciplinary team of innovators in the field of whole-person care:

Mary Jo Kreitzer, PhD, RN, FAAN, co-editor-in-chief of GAHM, is founder and director of the Center for Spirituality & Healing at the University of Minnesota. In addition to her roles as nurse, teacher, healthcare administrator and researcher, she is an internationally recognized pioneer and expert in the field of integrative health and well-being.

Robert Saper, MD, MPH, co-editor-in-chief of GAHM, is director of The Program for Integrative Medicine and Health Care Disparities at Boston Medical Center and associate professor of Family Medicine at Boston University School of Medicine. He has more than 25 years of experience integrating evidence-based complementary therapies such as yoga massage and relaxation techniques with conventional medicine.

This team has collectively established a streamlined, swift and scientifically rigorous peer-review and editorial process that will produce a breadth of usefully indexed content for GAHM in support of whole-systems care.

About Global Advances in Health and Medicine

Global Advances in Health and Medicine (GAHM) is a modern, global multimedia platform that combines original research with breakthrough thinking and analysis of policy initiatives to catalyze global conversations, collaboration and the building of communities to advance whole-person and whole-systems approaches to health care. GAHM’s platform includes an online and in print, peer-reviewed, indexed, medical journal published six times per year in three languages, and an interactive website that reaches readers in more than 40 countries.

Health Care

China Jo-Jo Drugstores Signed Strategic Service Agreement with Alipay to Provide Online Payment Service to its Customers

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HANGZHOU, China, January 8, 2015 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the “Company” or “China Jo-Jo“), a leading China-based retail and wholesale distributor of pharmaceutical and health care products through its own online and retail pharmacies, announced that it has recently signed a service agreement with Alipay (China) Internet Technology Ltd. (“Alipay”) to launch an online payment service (“Alipay Service”) for its customers. With over 300 million registered users and over 200 partnering financial institutions, Alipay is China’s dominant third-party online payment provider which processes about 50% of China’s e-commerce transactions, including mobile payments.

Through Alipay’ s popular services such as Alipay and Alipay Wallet, Chinese consumers can now make e-payment for China Jo-Jo’s products, in both retail and online pharmacies, through mobile devices such as smartphones. China Jo-Jo will be able to better engage mobile consumers through such features in the Alipay Service Window as push notifications for deals and sales promotions, app download and customer service. In addition, Alipay’s enterprise software offers the Company better management tools, including transaction management, big data collection, marketing and financial control.

Mr. Lei Liu, Chairman and CEO of China Jo-Jo, stated, “Our cooperation with Alipay gives us a great opportunity to get access to Alipay’s 300 million registered users who, like most Chinese consumers, are seeking more convenient pharmacy shopping experiences. In addition to maintaining our traditional customer base, we hope to attract more young, affluent, and tech-savvy consumers by answering to their needs for pharmaceutical and healthcare products.”

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., through its own retail drugstores, wholesale distributor and online pharmacy, is a leading retailer and wholesale distributor of pharmaceutical and healthcare products in China. As of September 30, 2014, the Company had 51 retail pharmacies in Hangzhou. 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. The Company routinely posts important information on its corporate websites at www.jiuzhou-drugstore.com (Chinese) and www.chinajojodrugstores.com (English).

About Alipay (China) Internet Technology Ltd.

Launched in 2004, Alipay (www.alipay.com) is a commonly used third-party online payment solution in China. Alipay provides an escrow payment service that reduces transaction risks for online consumers. As of the end of 2013, the number of Alipay registered users reached 300 million and the number of partnering financial institutions exceeded 200. In addition, Alipay handles over 80 million transactions daily, 45 million of which are through mobile payment accounts. In November 2013, Alipay’s mobile application, Alipay Wallet, started operating as an independent brand. As of today, there are 190 million annual active users. In addition to providing basic services such as shopping payment, credit card repayment, money transfer, and utilities bill payment on mobile phones, Alipay Wallet is expanding its offline applications to shopping malls, convenience stores, taxis and hospitals. Alipay partners with multiple financial institutions including leading national and regional banks across China as well as Visa and MasterCard to facilitate payments in China and abroad. Apart from Taobao Marketplace and Tmall.com, Alipay provides payment solutions to merchants in a wide range of industries including online retail, virtual gaming, digital communications, commercial services, air ticketing and utilities. It also offers an online payment solution to help merchants worldwide sell directly to consumers in China and supports transactions in 14 major foreign currencies.

Alipay (China) Internet Technology Ltd. is an affiliate of Alibaba Group Holdings, Ltd. (NYSE: BABA).

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,” “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.

Contacts

China Jo-Jo Drugstores, Inc.
Ming Zhao
Chief Financial Officer
Tel: (561) 372-5555
Email: frank.zhao@jojodrugstores.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-jo-jo-drugstores-signed-strategic-service-agreement-with-alipay-to-provide-online-payment-service-to-its-customers-300017804.html

Health Care

China Jo-Jo Drugstores’ Sales Reimbursed by Health Insurance Companies Increased 260% and 50% respectively for Online and Offline Pharmacy

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HANGZHOU, China, December 4, 2014 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the “Company”), a leading China-based retail and wholesale distributor of pharmaceutical and healthcare products through its own online and retail pharmacies, today announced that its sales reimbursed by health insurance companies grew significantly both online and offline. From January to October 2014, the management estimates the online private insurance reimbursed revenue have reached approximately $1.62 million (RMB10 million), a 260% increase over the same period in 2013; the reimbursed sales of offline retail drugstores have reached approximately $0.89 million (RMB 5.5 million), a 50% increase year over year.

Starting from July 2011, Hangzhou Jiuzhou Grand Pharmacy Chain Co., Ltd. (“Jiuzhou Pharmacy”), a subsidiary controlled by the Company has signed and renewed annual sales agreements with several major Chinese insurance companies, including China Life Insurance Company (NYSE: LFC) and Ping’an Insurance Group. According to the agreements, these insurance companies pay Jiuzhou Pharmacy for part of their insured customers’ purchases of medicine and healthcare products from our online and offline drugstores. The private medical insurance in China is supplemental to China National Medical Insurance, and is usually purchased by large profitable enterprises as benefits for their employees.

Jiuzhou Pharmacy was the first drugstore chain in Zhejiang Province to establish this sales model (also known as “Direct Pay to Claims”), with China Life Insurance Company in 2011. Since then, it has signed agreements with other major insurance providers, and third-party vendors, who make Jiuzhou Pharmacy their designated drugstores and clinics.

Mr. Lei Liu, Chairman of the Company, stated, “The health insurance reimbursement sales were initiated by us in Zhejiang Province and has been contributing to the Company’s revenue growth in the past few years. We will continue to develop and expand our sales channel, and strive to bring more benefits to the Company.”

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., through its own retail drugstores, wholesale distributor and online pharmacy, is a leading retailer and wholesale distributor of pharmaceutical and healthcare products in China. As of September 30, 2014, the Company had 51 retail pharmacies in Hangzhou. 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. The Company routinely posts important information on its corporate websites at 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,” “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.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/china-jo-jo-drugstores-sales-reimbursed-by-health-insurance-companies-increased-260-and-50-respectively-for-online-and-offline-pharmacy-300004762.html

Health Care

China Jo-Jo Drugstores Posted Record Online Sales on “Singles Day China” with 265% Revenue Increase

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HANGZHOU, China, November 20, 2014 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the “Company”), a leading China-based retail and wholesale distributor of pharmaceutical and healthcare products through its own retail and online pharmacies, today announced its online pharmacy posted the largest one-day sales on Singles Day China, or the Black Friday China (“Singles Day”), November 11, 2014 with total revenue increased by 265% year over year, on a one-day sales comparison basis.

In order to encourage online shopping, since 2009, large online retailers in China such as Tmall.com (“Tmall”) of Alibaba Group Holdings (NYSE: BABA), China’s largest B2C online retailer and JD.com (NASDAQ: JD) (“JD”) have started to make various discount sales on November 11 every year. November 11, also called Singles Day, has become the largest online commercial event in China.

Highlights of the Company’s online pharmacy sales on Singles Day include:

  • Total one-day sales revenue reached approximately $521,000 (RMB3.21 million), a 265% increase from the sales record on the same day of the prior year. The result vastly exceeded the Company’s targeted sales goal of approximately $325,000 (RMB2 million). The number of one-day online purchase orders increased 328% over the same day last year. In comparison, our regular daily online sale averaged at approximately $42,000 (RMB 0.26 million) in October 2014, an increase of more than 250% from the same month in 2013.
  • More than 90% of the Company’s online sales were generated from our online pharmacy at Tmall, the Company’s online stores at JD and YHD.com. The Company’s official website generated the remaining sales.
  • As of October 2014, our online pharmacy was ranked 10th on Tmall.com in the Pharmacy and Health Goods category

“We are very encouraged to see a great increase of our online pharmacy sales during the Singles Day online shopping festival this year. We will continue to offer quality and safe products on our e-commerce platform, and provide a better shopping experience to our customers,” commented Mr. Liu, Lei, Chairman and CEO of China Jo-Jo Drugstore. “Looking ahead, the dramatic increase of our online pharmacy sales on Tmall encourages us to further pursue our online growth strategy which we believe to be one of biggest opportunities for us in 2015 and beyond.”

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., through its own retail drugstores, wholesale distributor and online pharmacy, is a leading retailer and wholesale distributor of pharmaceutical and healthcare products in China. As of September 30, 2014, the Company had 51 retail pharmacies in Hangzhou. 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. The Company routinely posts important information on its corporate websites at 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,” “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.

Contacts

China Jo-Jo Drugstores, Inc.
Ming Zhao
Chief Financial Officer
Tel: (561) 372-5555
Email: frank.zhao@jojodrugstores.com