Doug Hirsch, Co-Founder and C0-CEO of GoodRx.
Heidi Petty | CNBC
Shares of GoodRx, an organization that finds customers pharmaceuticals at a reduction, plunged this week after Amazon introduced on-line prescription achievement, however GoodRx co-CEO Doug Hirsch mentioned traders’ worry was misguided: the 2 firms are “complementary,” not opponents.
“The headlines say it is GoodRx versus Amazon, I say no. GoodRx is a market, Amazon is a pharmacy,” Hirsch mentioned at CNBC’s Disruptor 50 Summit on Wednesday. “Individuals understand it as going head-to-head with us, but it surely’s not.”
GoodRx, based in 2011 by Fb veteran Hirsch and software program entrepreneur Trevor Bezdek, gives customers a free checklist of low cost playing cards and coupons to chop down prices of their prescription medicine.
Amazon Pharmacy, in the meantime, will enable clients in america to order prescription medicines for house supply. The corporate may also give Amazon Prime members extra perks, corresponding to free supply and potential reductions.
“I feel they’re attempting to do what they do finest, which is mail order,” Hirsch mentioned. “I do not see it as aggressive, I see it as complementary.”
Nonetheless, Wall Avenue hasn’t been swayed. The corporate’s inventory dropped greater than 6% Wednesday after JPMorgan downgraded the platform to underweight from impartial, citing the launch of Amazon Pharmacy as a risk.
GoodRx ranked No. 20 on this 12 months’s CNBC Disruptor 50 checklist.