China Jo-Jo Drugstores Inc. Reports Financial Results for Second Quarter Fiscal 2013 and Announces Second Quarter …

HANGZHOU, China--(BUSINESS WIRE)--

China Jo-Jo Drugstores, Inc. (CJJD), (the "Company"), a retail and wholesale distributor of pharmaceutical and other healthcare products in Zhejiang and Shanghai, today reported earnings results for the second quarter of fiscal 2013 ended September 30, 2012. The Company will hold its second quarter fiscal 2013 earnings call on Friday, November 16, 2011 at 8:00 a.m. Eastern Time. Please see below for dial in information.

Second Quarter Highlights:

Dr. Lei Liu, Chairman and CEO, stated, "Given Chinas slower economic and increased regulatory environment towards retail pharmacies, we are pleased that we continue to make progress to better vertically integrate our operations. Our wholesale business has continued to grow and will give us the foothold we need to establish our long-term position."

Since August 2011, stricter government policies towards the marketing practices of retail drugstores, industry competition and further government drug price control have impacted sales at our retail drugstores. However, as more of our drugstores are approved to accept government medical insurance, the Company's retail drugstores sales revenue improved to $9,637,418 during the three months ended September 30, 2012 over revenue of $8,393,098 during the three months ended June 30, 2012.

Dr. Liu further commented, "Looking forward, we anticipate that our revenues will be primarily from our wholesale operations with additional contributions from our retail drugstores. We also hope to see continued production from our Chinese herb farming and growth in our online drugstore business."

Second Quarter Fiscal 2013 Results

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China Jo-Jo Drugstores Inc. Reports Financial Results for Second Quarter Fiscal 2013 and Announces Second Quarter ...