Publicly traded telemedicine firm LifeMD introduced it’s partnering with ladies’s health-focused specialty pharmaceutical firm ASCEND Therapeutics to enhance entry to EstroGel, a hormone remedy for postmenopausal ladies.
The FDA-approved gel is used to alleviate signs related to a drop in estrogen ranges. It’s utilized on to the pores and skin as soon as a day and is used to assist handle scorching flashes, vaginal itching and dryness, evening sweats and painful intercourse.
By way of the partnership, sufferers can entry LifeMD’s telehealth platform immediately by way of EstroGel’s web site and converse to a licensed supplier within the U.S. to acquire a prescription. The medicine can then be shipped to the affected person’s residence.
“By offering affected person entry to a high-quality doctor in the intervening time they’re trying to find remedy, we’re eradicating limitations to care – like prolonged appointment wait occasions and danger of inconsistent care by much less skilled practitioners – whereas additionally bettering well being outcomes by offering on-demand and ongoing entry to major care suppliers,” Justin Schreiber, chairman and CEO of LifeMD, stated in a press release.
THE LARGER TREND
LifeMD went public in 2001, and its stock is presently buying and selling on NASDAQ for round $4.31 per share, down from its excessive of $29.40 in 2021.
In its second-quarter earnings report for 2023, the corporate reported income progress of 18% year-over-year to $35.9 million, and highlighted that it had achieved a optimistic free money circulation forward of income steering.
Adjusted EBITDA elevated to $1.7 million in Q2 2023 from an adjusted lack of $6.9 million in the identical interval final 12 months, and the corporate raised its 2024 income steering from $146 million to $152 million.
In June, the telehealth platform launched its GLP-1 weight administration program, which features a cellular utility, custom-made remedy plans, instructional sources, medical assist, and entry to drugs like Ozempic and Wegovy if deemed applicable by a supplier.