GoodRx Defeats Investor Claims Over Kroger Pharmacy Revenue Drop

GoodRx Holdings Inc. investors failed to adequately allege the drug discounter misled them before a significant revenue drop due to the loss of sales at Kroger Co. pharmacies, a federal court ruled, rejecting their case.

The disruption stemmed from Kroger’s simultaneous contract disputes with multiple pharmacy benefit managers, Judge André Birotte Jr. said in an order docketed Tuesday in the US District Court for the Central District of California. PBMs work with insurers and large employers to administer prescription plans.

The public already knew that GoodRx contracted with PBMs rather than retail pharmacies, Birotte said. GoodRx statements about its discount ...