CJJD stock soared more than 19% in after-hours trade on February 3, 2020, after the company announced its efforts to increase medical supplies in China to help offset supply shortages.
China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) a leading retailer and wholesale distributor of pharmaceutical and other health care products and a provider of healthcare services in China, today announced that the Company has pledged to provide help to people affected by the contagious coronavirus and struggle against the coronavirus outbreak in Hangzhou, China, in which 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:
- Devoting an initiative with other local, leading pharmacy chain stores and medical associations in the public sphere, encouraging and promising to conduct business with integrity and honesty, and to allocate medical supplies rationally in reaction to the sell-out of numerous medicines resulting from people’s fear posed by the virus epidemic.
- Establishing the 24-hour Coronavirus Emergency Team and starting up the Wuhan Pneumonia Emergency Plan to ensure the execution of coronavirus prevention.
- Entering emergency work status and contacting over 1,200 domestic and overseas vendors to allocate medical supplies to stabilize the market and to withstand the spread of coronavirus.
- Preparing a coronavirus channel on the corporation’s online hospital platform to provide medical consultation services and to provide clients with a 24-hour service hotline.
- Popularizing news and information of coronavirus through different social networking platforms to educate people’s methods to defend against the virus and to shore up the hope to reduce their fears of the virus.
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.”
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.