Blue Shield of CA news could have ramifications for GoodRx, says Credit Suisse

Commenting on the news that Blue Shield of California is opting for a patchwork approach to the PBM model, Credit Suisse analyst A.J. Rice notes that “disrupters continue to shake up the market.” Blue Shield of California will continue to utilize CVS‘ (CVS) Caremark for their specialty business but would now use Amazon (AMZN) for home delivery, Mark Cuban Cost Plus Drug Company for access to some medications at the retail pharmacy, Abarca for claims processing, and Prime Therapeutics for drug price contracting. While the impact to the HCIT universe is relatively muted, there are specific items that could have ramifications for GoodRx (GDRX), Credit Suisse notes. The firm argues that this would limit the potential pool of members that GoodRx may have had access to compared to previously. With competition heating up, this could create a pressure point for GoodRx given the refocus on profits, it adds.