Why Shares of GoodRx Holdings Climbed This Week
Share of GoodRx Holdings (NASDAQ: GDRX) rose more than 32% for the week, as of Thursday at 2:15 p.m. ET, according to data provided by S&P Global Market Intelligence. The healthcare stock is up more than 51% so far this year.
GoodRx offers a digital healthcare platform designed to save consumers money on prescription drugs. The company announced on Wednesday that it had entered into an agreement with CVS Health that creates a program, Caremark Cost Saver, that uses GoodRx's prescription pricing to lower out-of-pocket drug costs to CVS Caremark client members.
CVS Caremark is the largest U.S. pharmacy benefits manager. It processed 2.3 billion claims last year, so that should help expand GoodRx's business considerably. CVS Caremark will pay the company a referral fee when its clients use GoodRx pricing. Last year, GoodRx entered into a similar agreement with Cigna's Express Scripts that took effect this year.
Source Fool.com
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