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GoodRx success to depend on navigating evolving market, says BofA

BofA notes that Reuters reports that GoodRx (GDRX) is in discussions with the Trump administration to join the TrumpRx website though the firm doesn’t have “a strong view at this time” on the potential upside/downside from TrumpRx. The Trump administration is putting immense pressure on manufacturers and PBMs to shift completely away from list prices and toward net prices and “the popping of the gross to net bubble is a negative for GoodRx’s original business model,” the analyst tells investors. The firm, which argues that GoodRx’s future success will depend on its ability to navigate this “rapidly evolving market,” maintains an Underperform rating on GoodRx shares.

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