TherapeuticsMD Inc (NASDAQ:TXMD) is trading higher Monday after the company announced it would sell its prescription services business, vitaCare, to GoodRx Holdings Inc (NASDAQ:GDRX).
Under terms of the agreement, TherapeuticsMD will receive $150 million in cash with up to an additional $7 million in cash consideration contingent upon vitaCare’s financial performance through 2023. The transaction is expected to close in the second quarter.
TherapeuticsMD also entered into a long-term services agreement with vitaCare to continue to utilize the vitaCare platform.
TherapeuticsMD is a major drug manufacturer with a focus on creating and commercializing products exclusively for women.
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TXMD 52-Week Range: $0.18 - $1.70
TherapeuticsMD shares were up 57.2% at 32 cents at time of publication.
Photo: stevepb from Pixabay.
