NEW YORK, Sept. 21, 2023 (GLOBE NEWSWIRE) — LifeMD, Inc. Nasdaq: LFMD, a leading provider of virtual primary care services, today launched a partnership with ASCEND Therapeutics US, LLC, a subsidiary of Besins Healthcare and a specialty pharmaceutical company concentrating on women’s health, to provide integrated telehealth services to improve access to EstroGel® 0.06% (estradiol gel). LifeMD’s telehealth services are now accessible on ASCEND Therapeutics’ brand website, www.estrogel.com, allowing patients to connect with a LifeMD affiliated provider.
“This agreement with ASCEND Therapeutics, a global market leader improving women’s lives with a focus on innovative hormone therapies, is an example of an increasing number of pharmaceutical partnerships applying LifeMD technology and aptitude in consumer healthcare engagement,” said Justin Schreiber, Chairman and Chief Executive Officer of LifeMD. “By providing patient access to a high-quality physician at the moment they are searching for treatment, we are removing barriers to care – like lengthy appointment wait times and risk of inconsistent care by less experienced practitioners – while also improving health outcomes by providing on-demand and ongoing access to primary care providers.”
Besins Healthcare is a global leader in hormone therapy with a 33% share of the global progesterone market, which is poised to surpass $2.4 billion by 2030 at a CAGR of 13%.1 Besins Healthcare is also recognized as the world leader in testosterone replacement therapy, a market that is expected to reach $2.2 billion by 2027 at a CAGR of 4.6%.2 ASCEND Therapeutics’ EstroGel® is an FDA-approved bioidentical estrogen gel applied to the skin — one pump, applied to one arm, once a day — that can help manage some of the symptoms of menopause.3 Among surveyed women, 89% prefer EstroGel® over their previous hormone therapy.4
“Menopause is a natural part of aging, but countless women are dealing with symptoms that are having a negative impact on their daily lives. We are excited about our partnership with LifeMD, as it will provide a digital front door to our patients, promoting access to healthcare solutions that restore, restart and regulate fundamental female body processes,” said Cyrille Labourel, Chief Executive Officer of ASCEND Therapeutics. “We look forward to a continued partnership with LifeMD, including similar market strategies in support of AndroGel® 1% and 1.62%, and a potential joint venture that would provide access to a broader set of men’s and women’s hormonal therapies.”
1 Global Progesterone Market Demand, Size & Share to Surpass USD 2136 Million by 2030, Bloomberg, January 2023.
2 Testosterone Replacement Therapy Global Market Report 2023, The Business Research Company, May 2023.
3 EstroGel® [package insert]. Herndon, VA: ASCEND Therapeutics; 2020.
4 In a survey sponsored by ASCEND Therapeutics, 89% of 620 women using EstroGel® after a previous therapy said that they prefer EstroGel® over their previous therapy.
LifeMD is a leading provider of virtual primary care. LifeMD offers telemedicine, laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men’s health, women’s health, allergy & asthma, and dermatology. Leveraging a vertically-integrated, proprietary digital care platform, a 50-state affiliated medical group, and a US-based patient care center, LifeMD is elevating healthcare by increasing access to top-notch and affordable care. For more information, please visit LifeMD.com.
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Marc Benathen, CFO