For products with the same therapeutic purpose, the company offers choices in each of the high, medium and low price ranges to suit the needs of customers with different spending power.
The Company accepts prescriptions only from licensed health care providers and does not prescribe medications or otherwise practice medicine.
The company offers various types of drinkable herbal remedies and packages of assorted herbs for making soup, which are used by consumers as health supplements.
In 2007, China Nepstar substantially increased its market penetration in coastal cities with relatively high household disposable income, where it already had a presence.
China Nepstar Chain Drugstore Ltd. went public on the NYSE on November 9, 2007, through an IPO of 23,718,750 American Depository Shares (including green shoe) offered at a price of US$16.20 per ADS.
As the capital raised from its IPO on New York Stock Exchange (November 9, 2007) is sufficient to finance current expansion activities, there's no additional placement plan for the near future.
China Nepstar Chain Drugstore has signed strategic cooperation agreements with 16 domestic and multinational suppliers of pharmaceutical and healthcare products for 2008.
These agreements were signed at an event to celebrate the initial public offering of the company on the New York Stock Exchange attended by representatives from more than 300 manufacturers and wholesalers on December 14, 2007.
[citation needed] In addition, a number of prominent Chinese and multinational pharmaceutical companies, including Shandong DONG-E E-JIAO Co. Ltd., have agreed to establish exclusive manufacturing lines to manufacture certain products based on Nepstar's specifications and packaging requirements and to sell these products solely through Nepstar's network of drugstores.
[citation needed] Jiannong Qian has served as a director and chief executive officer of the Company since August 2006.