Mangoceuticals (NASDAQ: MGRX) shares climbed about 24% to 35% in premarket trading on Thursday after the company announced new arrangements with Eli Lilly And Co (NYSE:LLY) and Novo Novo Nordisk A/S (NYSE:NVO).
The company joined LillyDirect and NovoCare pharmacy programs, giving its customers streamlined access to the GLP1 weight loss drugs Zepbound and Wegovy through a cash pay model. Pricing starts at 499 dollars per month for medication and includes a 99 dollar monthly membership for Mangoceuticals telemedicine services.
The announcement was released early Thursday morning before the opening bell and immediately drew investor interest, triggering a sharp move in the stock.
#Investor Takeaway
The agreements expand Mangoceuticals service lineup with in demand obesity treatments, a shift that could strengthen its position in the competitive telemedicine space.
#Market Impact
The news lifted investor sentiment around MGRX as the company links to established drugmakers. Mangoceuticals remains a small cap company, so volatility may continue.
#What’s Next
Investors should watch for updates on product availability and integration of GLP1 treatments into Mangoceuticals platforms.