With bio­phar­ma IPOs surg­ing, GoodRx guns for $750M raise

The 2020 bio­phar­ma IPO wave has picked up a com­pa­ny or two that doesn’t look like your tra­di­tion­al drug de­vel­op­er. In June, most no­tably, Roy­al­ty Phar­ma, a com­pa­ny that has made a tidy busi­ness over the years buy­ing up fu­ture roy­al­ties for ap­proved and ex­per­i­men­tal drugs, nabbed the largest biotech — if you can a call it a biotech — IPO in his­to­ry at $2.2 bil­lion.

Then on Fri­day, af­ter a week dom­i­nat­ed by small-cap of­fer­ings like Virios Ther­a­peu­tics, GoodRx an­nounced they too would try to go pub­lic. And al­though they don’t quite have Pablo Legor­re­ta-like am­bi­tions, the con­sumer pre­scrip­tion drug plat­form and drug price watch­dog is re­port­ed­ly still shoot­ing well above Mod­er­na: $750 mil­lion.

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