GoodRx Named One of the 2024 TIME100 Most Influential Companies

Rhea-AI Summary

GoodRx (Nasdaq: GDRX) has been named to the 2024 TIME100 Most Influential Companies list for the second time. Recognized for its innovative strategies to reduce prescription medication costs, GoodRx has saved consumers around $15 billion in 2023 alone. The company's efforts include integrating savings with insurance benefits, partnering with pharmacies, and collaborating with pharmaceutical manufacturers. Since its founding in 2011, GoodRx has facilitated the purchase of 184 million prescriptions, potentially saving the healthcare system over $5 billion in preventable ER visits and hospitalizations.

Positive

• Named to the 2024 TIME100 Most Influential Companies for the second time.
• Saved consumers approximately $15 billion in 2023 alone.
• Facilitated 184 million prescriptions since 2011.
• Potentially saved the healthcare system over $5 billion in preventable ER visits and hospitalizations.
• Integrated savings with insurance benefits.
• Contracted directly with pharmacies to reduce prescription prices.
• Collaborated with pharmaceutical manufacturers to expand medication accessibility.

Negative

• The PR does not indicate substantial profit or revenue growth for 2023.
• No mention of stock performance or dividend payouts.
• Increased expenses likely due to partnerships and integrations.

GoodRx honored for creating new ways to deliver significant savings on prescription medications

SANTA MONICA, Calif.--(BUSINESS WIRE)-- Today, GoodRx (Nasdaq: GDRX), the leading destination for prescription savings in the U.S., was named to the fourth-annual TIME100 Most Influential Companies list, which highlights companies making an extraordinary impact around the world. This is the second time GoodRx has received this honor for helping Americans get the medications they need at a price they can afford.

“We are thrilled to be recognized for our work to reduce the cost of prescription medications for consumers, and the impact we’ve had on creating healthier people and communities," said Scott Wagner, Interim CEO of GoodRx. "It would be easy to claim that rising healthcare costs are an insurmountable challenge, but the reality is that change is possible. Through innovations that can benefit stakeholders across the healthcare ecosystem, we are helping realign the industry around a shared goal: helping people afford and access their prescription medications.”

Over the last year, GoodRx created new ways to get more affordable prescriptions into the hands of consumers by integrating GoodRx savings with insurance benefits, contracting directly with pharmacies to reduce the price of prescriptions, and working with pharmaceutical manufacturers to expand the accessibility of brand medications. As a result, the company saved consumers approximately $15 billion in 2023 alone compared to pharmacy retail price.

The savings created by GoodRx each year can amount to significant impact over time. Since its founding in 2011, GoodRx has helped users obtain at least 184 million prescriptions they otherwise may not have been able to afford, based on internal estimates. By helping people access and stay on their prescribed medications, GoodRx has helped save the healthcare system more than $5 billion in preventable ER visits and hospitalizations, based on internal estimates.

To assemble the list, TIME solicited nominations across sectors, and polled its global network of contributors and correspondents, as well as outside experts. Then TIME editors evaluated each on key factors, including impact, innovation, ambition, and success. The result is a diverse group of 100 businesses helping chart an essential path forward, including GoodRx.

To view the full TIME100 Most Influential Companies list, visit: time.com/100companies.

About GoodRx

GoodRx is the leading destination for prescription savings in the U.S. We offer consumers free access to transparent and lower prices for generic and brand medications, as well as comprehensive healthcare research and information. We also equip healthcare professionals with efficient ways to find and prescribe affordable medications. Since 2011, GoodRx has helped consumers save nearly $75 billion and is one of the most downloaded medical apps over the past decade.

GoodRx periodically posts information that may be important to investors on its investor relations website at https://investors.goodrx.com. We intend to use our website as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors and potential investors are encouraged to consult GoodRx’s website regularly for important information, in addition to following GoodRx’s press releases, filings with the Securities and Exchange Commission (the “SEC”) and public conference calls and webcasts. The information contained on, or that may be accessed through, GoodRx’s website is not incorporated by reference into, and is not a part of, this press release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding consumer savings; the benefits and value of our offerings to consumers and other stakeholders in the healthcare ecosystem, our product initiatives and our plans, expectations and objectives. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, risks relating to our ability to achieve broad market education and change consumer purchasing habits, changes in medication pricing and pricing structures, our reliance on a limited number of industry participants, the competitive nature of our industry, and the important factors discussed in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023, and our other filings with the SEC. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent our management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240529897810/en/

press@goodrx.com

Source: GoodRx

FAQ

What recognition did GoodRx receive in 2024?

GoodRx was named to the 2024 TIME100 Most Influential Companies list.

How much has GoodRx saved consumers in 2023?

GoodRx saved consumers approximately $15 billion in 2023.

What is GoodRx's stock symbol?

GoodRx's stock symbol is GDRX.

How many prescriptions has GoodRx facilitated since 2011?

GoodRx has facilitated the purchase of 184 million prescriptions since 2011.

What potential savings has GoodRx provided to the healthcare system?

GoodRx potentially saved the healthcare system over $5 billion in preventable ER visits and hospitalizations.

How does GoodRx help reduce prescription costs?

GoodRx reduces prescription costs by integrating savings with insurance benefits, contracting with pharmacies, and collaborating with pharmaceutical manufacturers.