Shares of GoodRx (GDRX), which provides drug coupons for discounts on medications, jumped over 5% on Thursday afternoon. This came after the company joined American retail pharmacies and chain drug stores associations in an ongoing lobby effort with officials of the Trump administration, according to Reuters.
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The goal of the group is to be onboarded on TrumpRx, the site being prepared by the U.S. federal government to sell discounted drugs directly to Americans. The platform is to be launched in early 2026.
The lobby campaign follows recent announcements of some form of drug discounts by American pharmaceutical companies Pfizer (PFE) and Amgen (AMGN). The announcements came in reaction to pressure from President Donald Trump who has been threatening tariffs on the pharma industry while clamoring for drugmakers in the country to lower the prices of their medications.
Trump has also asked pharma companies to re-shore drug manufacturing to the country.
Big Pharma Starts to Offer Discounts
Both Pfizer and Amgen have said they will offer discounted versions of their drugs directly on TrumpRx, even as Amgen earlier this week launched its own direct-to-consumer platform, offering its first discount on Repatha, its low-cholesterol injection.
However, speaking with Reuters, Wendy Barnes, CEO of GoodRx, argued that they need a clear way to also offer on TrumpRx “competitive” prices on drugs available at retail pharmacies.
On his part, Chris Krese, one of the leaders of the association representing chain drug stores, emphasized the importance of local pharmacies, including in monitoring patients’ medications to keep treatment safe.
Is GoodRx a Good Stock to Buy Now?
Turning to Wall Street, GoodRx’s shares currently have a Moderate Buy consensus recommendation, as seen on TipRanks. This is based on six Buys, six Holds, and one Sell assigned by 13 Wall Street analysts over the past three months.
However, the average GDRX price target of $5.29 indicates a 17% growth possibility from the current level.
