TherapeuticsMD Inc TXMD is trading higher Monday after the company announced it would sell its prescription services business, vitaCare, to GoodRx Holdings Inc GDRX.
Under terms of the agreement, TherapeuticsMD will receive $150 million in cash with up to an additional $7 million in cash consideration contingent upon vitaCare’s financial performance through 2023. The transaction is expected to close in the second quarter.
TherapeuticsMD also entered into a long-term services agreement with vitaCare to continue to utilize the vitaCare platform.
TherapeuticsMD is a major drug manufacturer with a focus on creating and commercializing products exclusively for women.
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TXMD 52-Week Range: $0.18 - $1.70
TherapeuticsMD shares were up 57.2% at 32 cents at time of publication.
Photo: stevepb from Pixabay.
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