The pharmaceutical subsidiary plans on capturing a large portion of a growing market with an innovative prescription method.
With the global weight loss drug market currently worth approximately
Additionally, the expected compound annual growth rate (CAGR) of 45.7% suggests that 2024 is ideal for Genefic to enter the weight loss drug market, according to the subsidiary’s president,
“Through the use of our robust new telemedicine service, we’re now able to offer a selection of the most successful weight loss drugs on the market today,” said Riley. He continued, “Genefic has already partnered with one of the world’s leading weight loss providers with more than two decades of established market acceptance. We know that this will accelerate further expansion of our client base.”
Increased awareness and acknowledgment of the efficacy of weight loss drugs have caused several celebrities including
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About Genefic
A wholly-owned subsidiary of
Forward-Looking Statements
Statements contained in this press release, other than statements of historical fact, particularly statements relating to cost reductions and the anticipated pre-tax savings from the cost reduction program, restructuring costs, footprint rationalization, simplifying and streamlining our operations, reducing complexity, enhancing the speed of decision-making, leveraging our sourcing capabilities and the timing of implementation and completion of the cost reduction program, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to us at the time such statements are made. These statements, which are generally identifiable by the use of the words “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “forecast,” “project,” “plan,” and similar expressions, are subject to certain risks and uncertainties, are made as of the date hereof, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of many events outside the Company’s control and actual results and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the
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2024 GlobeNewswire, Inc., source