Walgreens saving finder launch ‘slight negative’ for GoodRx, says Citi

Citi noted that Walgreens (WBA) announced the launch of its new Rx Savings Finder digital tool that aggregates prescription discount cards, which the firm calls a “slight negative” for GoodRx (GDRX). The firm’s analysis of the top 10 prescribed generic drugs in the U.S. finds that GoodRx’s Walgreens price was always higher than the best discount card using Rx Savings Finder, though it also found that GoodRx still beats Rx Savings Finder prices 70% of the time when going to another retail pharmacy. The firm, which adds that GoodRx maintains a “strong and growing” relationship with Walgreens, has a Buy rating and $7 price target on GoodRx shares.