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Investing.com -- GoodRx Holdings (NASDAQ:GDRX) stock surged 18% Wednesday after CEO Wendy Barnes suggested the digital healthcare platform could potentially partner with the Trump administration on its new drug pricing initiative.
In an interview on Fox Business, Barnes revealed that GoodRx has been having "conversations" with the Trump administration regarding efforts to deliver more affordable drug pricing. She noted that the government’s TrumpRx proposal would complement GoodRx’s existing business model, adding that the company could "perhaps partner" with the administration on the initiative.
The stock climbed as much as 27% during intraday trading before settling at an 18% gain by market close.
The comments from Barnes came just one day after President Donald Trump announced a comprehensive plan aimed at reducing prescription drug costs in the United States. The president’s initiative includes the creation of a "TrumpRx" direct-to-consumer website where Americans would be able to purchase medications at discounted prices, as well as a broad agreement with Pfizer to lower prices on many of its products.
GoodRx, which operates a platform helping consumers find discounted prices on prescription medications, appears well-positioned to potentially benefit from or collaborate with the administration’s new drug pricing efforts.