GoodRx Holdings, Inc. - GDRX STOCK NEWS

GoodRx (GDRX) has released a critical healthcare report revealing that nearly 70% of U.S. counties lack endocrinologists, affecting approximately 50 million Americans. The study shows people in these 'endocrinology deserts' face a 12% higher mortality rate from endocrine-related diseases.

The shortage particularly impacts diabetes care, with death rates more than doubling in affected areas. For example, Buffalo County, South Dakota reports 143.3 deaths per 100,000 compared to 56.6 in Bell County, Kentucky, where specialists are available.

To address these challenges, GoodRx offers up to 80% savings on diabetes medications, with 20 medications under $20, exclusive brand-name discounts on GLP-1 and GIP medications, and comprehensive healthcare resources through their Diabetes Center.

GoodRx Holdings (NASDAQ: GDRX) has appointed Wendy Barnes as President and Chief Executive Officer, effective January 1, 2025. Barnes brings over 30 years of healthcare leadership experience, joining from RxBenefits where she served as CEO, managing pharmacy benefit support for more than 2,000 self-insured clients with over three million lives. Previously, she was President of Express Scripts Pharmacy and Group Vice President at Rite Aid.

In her new role, Barnes will focus on advancing GoodRx's strategic initiatives, including expanding brand affordability programs, enhancing product experience with healthcare professionals, and strengthening partnerships with retail pharmacies, insurers, and pharmaceutical manufacturers. She succeeds Scott Wagner, who served as Interim CEO.

GoodRx has released a new Weight Loss Medications Tracker revealing significant trends in medication usage and spending. Despite insurance coverage and high costs, fill rates for weight loss drugs have surged dramatically in 2024, with Wegovy increasing by 100% and Zepbound by 300%. The research shows Americans overspent by $200 million in 2024 by paying full retail prices instead of using available savings.

Insurance coverage remains , with only 9% of people having unrestricted coverage for Zepbound and 14% for Wegovy. Even with insurance, patients face high out-of-pocket costs, averaging over $2,500 annually for Zepbound. Regional disparities show Alaska leading in overall fill rates, while Massachusetts, New Jersey, Rhode Island, and Delaware show higher rates for specific weight loss medications.

Harrow (HROW) announced a new initiative to improve access and affordability of its ophthalmic pharmaceutical products through two main strategies. First, the company is implementing price reductions for several products, starting with VIGAMOX® and MAXIDEX®. Second, Harrow established a partnership with GoodRx to provide discounted pricing for seven products including FLAREX®, ILEVRO®, MAXIDEX®, TOBRADEX® ST, VEVYE®, VIGAMOX®, and ZERVIATE® through GoodRx's platform, particularly benefiting uninsured and underinsured patients.

GoodRx Holdings reported its Q3 2024 financial results with revenue of $195.3 million, up 8% year-over-year, and net income of $4.0 million. Key highlights include a net income margin of 2.0%, Adjusted EBITDA of $65.0 million, and operating cash flow of $86.9 million. Prescription transactions revenue increased 4% to $140.4 million, while pharma manufacturer solutions revenue grew 77% to $28.1 million. The company expects Q4 2024 revenue of approximately $200 million with an Adjusted EBITDA margin of ~34%. For full-year 2024, GoodRx projects revenue of ~$794 million and Adjusted EBITDA between $255-260 million.

GoodRx Holdings (Nasdaq: GDRX), the leading prescription savings platform in the U.S., has announced its participation in two major healthcare investor conferences. The company will engage in fireside chats at the UBS 2024 Global Healthcare Conference in Rancho Palos Verdes on November 12, 2024, and the Citi 2024 Global Healthcare Conference in Miami on December 5, 2024.

Live webcasts of both events will be accessible through GoodRx's Investor Relations website, with recordings remaining available for at least 30 days after each conference.

GoodRx (GDRX) has launched a new e-commerce platform, marking its entry into the over-the-counter (OTC) market. The platform debuts with Opill®, the first OTC daily birth control pill, allowing direct-to-consumer ordering with home delivery. This initiative addresses healthcare access gaps, particularly benefiting the 19 million women in areas with contraceptive services. The new platform enables consumer health and pharmaceutical brands to integrate their offerings directly within GoodRx's ecosystem, leveraging its extensive reach of over 25 million consumers and 750,000 healthcare professionals annually.

GoodRx (Nasdaq: GDRX) announced an exclusive partnership making QSYMIA, a once-daily oral weight management medication, available at a low cash price of $149 for a 30-day supply across 70,000+ retail pharmacies nationwide. The initiative aims to improve accessibility to obesity treatment, addressing a significant health concern affecting more than two in five U.S. adults. QSYMIA, designed to help manage hunger and reduce cravings, has shown that one in five adults and one in four young adults achieve at least 20% body weight loss on the top dose. This partnership extends GoodRx's momentum in weight loss solutions and broadens its portfolio of brand-name medication savings programs.

GoodRx Holdings announced the appointment of Ronald E. Bruehlman to its Board of Directors, effective November 8, 2024. Bruehlman, currently the CFO of IQVIA, brings 39 years of finance experience in healthcare services, industrial, and petroleum industries. He will serve as chairperson of the Board's Audit and Risk Committee, replacing Julie Bradley. Previously, Bruehlman served as CFO of IMS Health and held senior finance leadership roles at United Technologies for 23 years. The appointment aims to strengthen GoodRx's financial strategy and risk assessment capabilities as the company focuses on sustainable and profitable revenue growth.