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LifeMD and ASCEND Therapeutics Launch Integrated Direct-to-Consumer Telehealth Model for Hormone Therapy

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LifeMD partners with ASCEND Therapeutics to provide integrated telehealth services for EstroGel® 0.06%
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  • LifeMD forms a partnership with ASCEND Therapeutics to offer telehealth services for EstroGel® 0.06%
  • Besins Healthcare has a 33% share of the global progesterone market poised to reach $2.4 billion by 2030
  • ASCEND Therapeutics' EstroGel® is preferred by 89% of surveyed women over their previous hormone therapy
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NEW YORK, Sept. 21, 2023 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, today launched a partnership with ASCEND Therapeutics US, LLC, a subsidiary of Besins Healthcare and a specialty pharmaceutical company concentrating on women's health, to provide integrated telehealth services to improve access to EstroGel® 0.06% (estradiol gel). LifeMD’s telehealth services are now accessible on ASCEND Therapeutics’ brand website, www.estrogel.com, allowing patients to connect with a LifeMD affiliated provider.

“This agreement with ASCEND Therapeutics, a global market leader improving women’s lives with a focus on innovative hormone therapies, is an example of an increasing number of pharmaceutical partnerships applying LifeMD technology and aptitude in consumer healthcare engagement,” said Justin Schreiber, Chairman and Chief Executive Officer of LifeMD. “By providing patient access to a high-quality physician at the moment they are searching for treatment, we are removing barriers to care – like lengthy appointment wait times and risk of inconsistent care by less experienced practitioners – while also improving health outcomes by providing on-demand and ongoing access to primary care providers.”

Besins Healthcare is a global leader in hormone therapy with a 33% share of the global progesterone market, which is poised to surpass $2.4 billion by 2030 at a CAGR of 13%.1 Besins Healthcare is also recognized as the world leader in testosterone replacement therapy, a market that is expected to reach $2.2 billion by 2027 at a CAGR of 4.6%.2 ASCEND Therapeutics’ EstroGel® is an FDA-approved bioidentical estrogen gel applied to the skin — one pump, applied to one arm, once a day — that can help manage some of the symptoms of menopause.3 Among surveyed women, 89% prefer EstroGel® over their previous hormone therapy.4

“Menopause is a natural part of aging, but countless women are dealing with symptoms that are having a negative impact on their daily lives. We are excited about our partnership with LifeMD, as it will provide a digital front door to our patients, promoting access to healthcare solutions that restore, restart and regulate fundamental female body processes,” said Cyrille Labourel, Chief Executive Officer of ASCEND Therapeutics. “We look forward to a continued partnership with LifeMD, including similar market strategies in support of AndroGel® 1% and 1.62%, and a potential joint venture that would provide access to a broader set of men’s and women’s hormonal therapies.”

1 Global Progesterone Market Demand, Size & Share to Surpass USD 2136 Million by 2030, Bloomberg, January 2023.
2 Testosterone Replacement Therapy Global Market Report 2023, The Business Research Company, May 2023.
3 EstroGel® [package insert]. Herndon, VA: ASCEND Therapeutics; 2020.
4 In a survey sponsored by ASCEND Therapeutics, 89% of 620 women using EstroGel® after a previous therapy said that they prefer EstroGel® over their previous therapy.

About LifeMD
LifeMD is a leading provider of virtual primary care. LifeMD offers telemedicine, laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men’s health, women’s health, allergy & asthma, and dermatology. Leveraging a vertically-integrated, proprietary digital care platform, a 50-state affiliated medical group, and a US-based patient care center, LifeMD is elevating healthcare by increasing access to top-notch and affordable care. For more information, please visit LifeMD.com.

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Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, “Risk Factors” identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods.

Any forward-looking statement made in the news release is based on information currently available to us as of the date on which this release is made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable law or regulation.

Media Contact:
press@lifemd.com

Company Contact:
LifeMD, Inc.
Marc Benathen, CFO
marc@lifemd.com


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