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GoodRx And Kroger Sign Direct Contracting Agreement

By Business Wire

Business Wire
Overall Rating

Companies now offering almost 50% more savings on most generics at more than 2,200 Kroger Family of Pharmacies

SANTA MONICA, Calif.--(BUSINESS WIRE)--GoodRx (Nasdaq: GDRX), the leading destination for prescription savings in the U.S., today announced a new direct contracting agreement with The Kroger Co. to deliver improved prescription pricing at more than 2,200 Kroger family pharmacy locations nationwide.

“We are excited to renew our relationship with Kroger,” said Scott Wagner, Interim CEO of GoodRx. “Kroger has been a valuable participant in the GoodRx marketplace over the years and an innovator in healthcare, nutrition and wellness. We’ve leveraged our direct contracting model to reach an agreement that we believe supports Kroger’s business goals and helps patients get the prescriptions they need at affordable prices.”

A key focus for GoodRx in recent years has been transforming how it delivers value to retail pharmacies. By leveraging its direct-contracting model, GoodRx and Kroger have reached a mutually beneficial agreement that enables them to deliver lower prices directly to patients.

Starting June 1, 2024, patients can present a GoodRx coupon at Kroger Family of Pharmacies to receive almost 50% more savings on the expected patient price for most generics, compared to previously available prices on their prescription medications.

GoodRx will be discussing this news during its Investor Day today, Wednesday, May 15, starting at 9 a.m. ET. You can register for the event here.

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 more than $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 GoodRx offerings to consumers, Kroger and GoodRx; GoodRx’s direct contracting approach; and GoodRx’s 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 GoodRx’s 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 GoodRx’s ability to achieve broad market education and change consumer purchasing habits, changes in medication pricing and pricing structures, GoodRx’s reliance on a limited number of industry participants, the competitive nature of GoodRx’s industry, and the important factors discussed in the section entitled “Risk Factors” in GoodRx’s Annual Report on Form 10-K for the year ended December 31, 2023, and GoodRx’s other filings with the Securities and Exchange Commission. 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 GoodRx management’s estimates as of the date of this press release. While GoodRx may elect to update such forward-looking statements at some point in the future, GoodRx disclaims any obligation to do so, even if subsequent events cause GoodRx’s views to change.

Contacts

Media Contact
press@goodrx.com

First published on Wed, May 15, 2024

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