Within a month of the company’s stock being low, Goodxx executives said they were still not worried about Amazon Pharmacy. Discount Pharmacy start-up stock rose 10% to $ 31 on Friday, still below the $ 33 IPO price.
Later Collecting over $ 1 billion in modified IPO Last year, Goodx soon faced a major hurdle: Amazon.
Online retailer in November a Service to purchase prescriptions for consumers Let them take it home. A more direct threat to the Good Rack business, Amazon offers consumers the ability to compare drug prices with insurance premiums, with no insurance or a general discount.
GoodRx management continues to ease concerns over Thursday’s revenue call. According to CFO Karsten Voermann, mail order orders still account for only 5% of the US Census. Adding a little time Covid-19 locks.
As for Amazon’s Drug Discount Card, she sees it as a marketing tool for messaging pharmacy services to offer drug discounts in physical pharmacies similar to the RRX business model. The program is managed by Inside Rx and collaborates with many retailers with GoodRx.
As we have said before, we believe that the Premiumx card was introduced to enable Amazon Pharmacy to show third-party pricing, not because they are trying to send their customers from Amazon to competing retailers. It’s like their basic business model, ”she called on investors on Thursday. Our attitude has not changed. ”
Referring to third-party information, Goodxx co-CEO Trevor Bezdeck said the company said it was “unavailable” when using Amazon Prime Arx’s retail discount program and had a small share in mail orders.
“I think people are less concerned about Amazon,” he said during the call.
That is not the case for some investors. The class action lawsuit filed in December alleges that Amazon was unable to inform investors that it was developing its own online ordering service. Shareholders filed similar allegations in April and May.
The company’s revenue and future prospects were a bit shaky. The organization It earned $ 160.4 million in the first quarterIt is up 20% compared to last year, but slightly shorter than expected. Net worth was $ 1.7 million, down 94% from last year, but this is largely due to the company’s large share of dividends, including $ 30 million in dividends, to the company’s management.
In the meantime, GoodRx is filling up with a series of purchases. In April, he bought RxSaver, a price comparison platform that works with PBMs to negotiate healthier, startup health video content and discount prices.
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