Prescription savings platform GoodRx Holdings Inc. (NASDAQ:GDRX) is reportedly joining the so-called TrumpRx website, signaling an initiative expansion beyond pharmaceutical manufacturers' direct discount programs.
The discussions follow Pfizer Inc‘s (NYSE:PFE) agreement with the Trump Administration to ensure U.S. patients pay lower prices for their prescription medicines.
The administration is now hyping TrumpRx as a tool to help consumers access medications at lower prices, though, its real-world value remains unclear.
The site is set to launch next year.
Also Read: Ozempic And Wegovy Now Available Through GoodRx At Reduced Self-Pay Price, Stock Skyrockets
Wendy Barnes, CEO of GoodRx, told Reuters that the administration recognizes that to make TrumpRx effective, it must include pharmaceutical company discount programs and competitive retail pharmacy pricing.
Representatives from the National Community Pharmacists Association (NCPA) and the National Association of Chain Drug Stores (NACDS), which represent chains such as Walgreens and Costco (NASDAQ:COST), confirmed ongoing discussions with officials.
Some manufacturer-run portals allow insurance use, while others only accept cash payments. According to ING Group, if all branded medications were available directly from manufacturers, consumers could save around $1.9 billion across the $590 billion U.S. pharmaceutical market.
Recently, AstraZeneca Plc (NASDAQ:AZN) launched AstraZeneca Direct for patients to have access to Airsupra (albuterol/budesonide) or Farxiga (dapaglifozin) directly for a cash price up to 70% off the list price.
Most recently, Amgen Inc. (NASDAQ:AMGN) launched AmgenNow, a new direct-to-patient program starting with Repatha (evolucumab).
However, pharmacy groups argue that equal access to these discounts is crucial. Douglas Hoey, CEO of the NCPA, says drugmaker discounts through TrumpRx should also be available in pharmacies to ensure patients don't have to "chase a discount."
For uninsured Americans who can afford cash payments, manufacturer-run portals could offer an alternative path to access medications. But pharmaceutical companies say they will maintain patient assistance programs providing free or reduced-cost drugs for those unable to pay.
Price Action: GDRX stock is up 12.07% at $4.92 at the last check on Thursday.
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