Publicly traded telemedicine corporate LifeMD introduced it’s partnering with girls’s health-focused forte pharmaceutical corporate ASCEND Therapeutics to fortify get admission to to EstroGel, a hormone remedy for postmenopausal girls.
The FDA-approved gel is used to relieve signs related to a drop in estrogen ranges. It’s carried out immediately to the surface as soon as an afternoon and is used to lend a hand arrange sizzling flashes, vaginal itching and dryness, evening sweats and painful intercourse.
During the partnership, sufferers can get admission to LifeMD’s telehealth platform immediately via EstroGel’s website online and get in touch with an authorized supplier within the U.S. to procure a prescription. The medicine can then be shipped to the affected person’s house.
“By way of offering affected person get admission to to a top of the range doctor these days they’re looking for remedy, we’re disposing of obstacles to care – like long appointment wait occasions and possibility of inconsistent care by way of much less skilled practitioners – whilst additionally making improvements to fitness results by way of offering on-demand and ongoing get admission to to number one care suppliers,” Justin Schreiber, chairman and CEO of LifeMD, stated in a observation.
THE LARGER TREND
LifeMD went public in 2001, and its inventory is recently buying and selling on NASDAQ for round $4.31 according to proportion, down from its top of $29.40 in 2021.
In its second-quarter income file for 2023, the corporate reported income enlargement of 18% year-over-year to $35.9 million and highlighted it accomplished a favorable unfastened money drift forward of income steerage.
Adjusted EBITDA higher to $1.7 million in Q2 2023 from an adjusted lack of $6.9 million in the similar length ultimate 12 months, and it raised its 2024 income steerage from $146 million to $152 million.
In June, the telehealth platform introduced its GLP-1 weight control program, which incorporates a cell utility, custom designed remedy plans, tutorial sources, scientific make stronger, and get admission to to drugs like Ozempic and Wegovy if deemed suitable by way of a supplier.