SHENZHEN, China, Aug. 13—China Nepstar Chain Drugstore Ltd. (NYSE: NPD) (“Nepstar” or the “Company”), the largest drugstore chain in China based on the number of directly operated stores, today announced that its board of directors has authorized a share repurchase program. Under the terms of the approved program, China Nepstar may repurchase up to US$20 million worth of its issued and outstanding American Depositary Shares (“ADSs”) from time to time over the next 12 months. The repurchases....