The news: GoodRx is rolling out a subscription service for erectile dysfunction (ED) treatment.
More on the offering: Subscriptions start at $18 per month for sildenafil (generic Viagra) or $21 per month for tadalafil (generic Cialis). However, consumers could end up paying around $100 a month, depending on how many doses of the drug they want.
GoodRx will connect consumers with a telehealth provider who can prescribe the medication. The company will discreetly deliver it to the customer’s door for free.
Zooming out: 29% of men self-report ED, but just 14% use any treatment, according to a GoodRx and YouGov survey conducted earlier this year, as well as an analysis of pharmacy fill rates for ED medications. Concerns about side effects, lack of insurance coverage for ED treatments, and the stigmas associated with getting medical help for such conditions are key barriers, the survey found.
The bigger picture: GoodRx is expanding its offerings beyond what it’s best known for (providing medication discount coupons for consumers to use at the pharmacy). It’s now in direct competition with D2C healthcare companies that sell prescriptions through telehealth visits, including Hims & Hers, Ro, and Amazon.
GoodRx late last year debuted an e-commerce platform where its pharma company partners can sell health products and OTC medications to consumers. GoodRx’s first brand tie-up for the venture was Perrigo, which makes Opill, an OTC contraceptive.
Our take: GoodRx is in a great position to compete with the top D2C telehealth players since consumers are already on the site or app searching for prescription drug discounts—it has over 6 million active monthly consumers who use a coupon code. GoodRx might also be more trusted than pure-play telehealth companies in the eyes of consumers since its services help people save money on their healthcare. Wall Street appears to agree as shares of GoodRx are up over 12% at the time of writing.
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