GoodRx Holdings, Inc. - GDRX STOCK NEWS

GoodRx Holdings, Inc. (Nasdaq: GDRX) reported its Q2 2024 financial results, showing positive growth and profitability. Key highlights include:

- Revenue increased 6% to $200.6 million
- Net income of $6.7 million, with a 3.3% margin
- Adjusted EBITDA of $65.4 million, with a 32.6% margin
- Over 7 million consumers of prescription-related offerings

The company's guidance for Q3 2024 projects revenue between $193-197 million and an Adjusted EBITDA Margin of about 32%. For the full year 2024, GoodRx expects revenue at the lower end of $800-810 million, with Adjusted EBITDA over $255 million, up 17% from 2023.

Boehringer Ingelheim and GoodRx (Nasdaq: GDRX) have announced an exclusive patient affordability initiative for Adalimumab-adbm, Boehringer's biosimilar to Humira®. This FDA-approved interchangeable biosimilar will be available at a low cash price exclusively on the GoodRx platform, representing a significant step in addressing access and affordability for patients with certain autoimmune conditions.

Key points:

• The initiative offers both high-concentration and low-concentration citrate-free formulations at $550 per two-pack, a 92% discount from Humira's list price
• Available at over 70,000 retail pharmacies nationwide
• Accessible to anyone with a valid prescription, regardless of insurance status
• Aims to speed up time to therapy for patients using biologic drugs

GoodRx Holdings, the leading prescription savings platform in the U.S., announced the release date of its second quarter 2024 financial results. The report will be made public on Thursday, August 8, 2024, before the U.S. markets open.

On the same day, at 5:00 a.m. Pacific Time (8:00 a.m. Eastern Time), the company will hold a conference call and webcast to discuss the results and business outlook. Interested parties can pre-register for the call to receive dial-in details and a unique passcode. The live webcast and accompanying materials will be available on the company's investor relations website. An archived version of the webcast will be accessible approximately one hour after the live event and will remain available for at least 30 days.

GoodRx Holdings announced the addition of former Genentech CEO, Ian T. Clark, to its Board of Directors. Clark brings over 35 years of experience in pharmaceuticals and healthcare, having held leadership roles at Genentech, Novartis, Sanofi, Ivax Pharmaceuticals, and G.D. Searle. He currently serves on the boards of multiple biopharmaceutical and biotechnology companies including Kyverna Therapeutics, Olema Pharmaceuticals, Takeda Pharmaceuticals, Guardant Health, and Corvus Pharmaceuticals. GoodRx anticipates that Clark's deep industry knowledge will enhance their efforts to provide affordable prescription prices and strengthen their board's expertise in the healthcare sector. Clark will join the Nominating and Corporate Governance Committee and chair the newly established Innovation Committee.

GoodRx (Nasdaq: GDRX) has launched a new 'Prescription Cost Tracker' aimed at shedding light on out-of-pocket medication costs in the U.S. as of 2024. The tool will track trends in prescription spending, highlighting key factors such as high medication costs, reduced insurance coverage, and increased friction in the system.

Key findings include that Americans have spent $21 billion out-of-pocket on prescriptions in 2024, averaging $16.26 per prescription. Additionally, 37% of prescription medication list prices have increased since 2014. Reduced insurance coverage is also a significant issue, with only 54% of medications covered by insurance and 50% of those covered by Medicare having restrictions. Increased friction is seen in challenges like 41 million Americans lacking proper access to a pharmacy.

GoodRx aims to use the data to fight for lower prescription costs and provide greater price transparency for consumers.

GoodRx (Nasdaq: GDRX) has appointed Simon Patterson to its Board of Directors. Patterson, who leads EMEA operations for Silver Lake, a technology investment firm, brings extensive experience in tech, strategy, and management. He has held board positions at companies like Dell Technologies and Skype. Patterson's expertise is expected to assist GoodRx in scaling its business and making prescription medications more affordable. He will also join the Board's Nominating and Corporate Governance Committee.

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.

GoodRx, a leader in prescription savings, has announced discounts of up to 43% on fertility treatments in 2023. Americans saved over $6 million using GoodRx for fertility medications. The initiative covers generic and brand-name medications used in IVF, helping to manage the high costs of fertility treatments, which can range from $15,000 to $30,000 per cycle. Highlights include significant savings on medications such as Fyremadel, Ganirelix, Leuprolide, Clomid, and Letrozole. GoodRx also offers a Fertility Hub for educational resources and additional savings. The discounts aim to alleviate financial burdens and assist families in their reproductive journeys.

GoodRx (Nasdaq: GDRX) has entered a new direct contracting agreement with The Kroger Co. to offer enhanced prescription savings at over 2,200 Kroger pharmacy locations nationwide.

Starting June 1, 2024, patients using a GoodRx coupon can expect almost 50% more savings on most generic medications.

This partnership aims to support Kroger's business objectives and improve patients' access to affordable prescriptions.

GoodRx will discuss this agreement during its Investor Day on May 15 at 9 a.m. ET.