Dalrada Financial Corporation’s Wholly-Owned Subsidiary, Genefic, Inc. Announces New Telemedicine Services, Enters Booming Weight Loss Drug Market
The pharmaceutical subsidiary plans on capturing a large portion of a growing market with an innovative prescription method.
SAN DIEGO, April 23, 2024 (GLOBE NEWSWIRE) -- (OTCQB: , “Dalrada,” “the Company”), announced today that its wholly-owned healthcare subsidiary, (“Genefic”), has added a telemedicine service to its , allowing Genefic to efficiently offer clients direct access to its pharmaceuticals, including access to Genefic’s own weight loss drug, as the subsidiary enters the world’s booming weight loss drug market.
With the global weight loss drug market currently worth approximately $6 billion and projected to reach nearly $100 billion by the end of the decade, the overall popularity of weight loss drugs is driving a meteoric rise in market value.
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, Dan Riley.
“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 Oprah Winfrey, Elon Musk, Tracy Morgan, and Kelly Clarkson, among others, to tout their success—and the general public is following suit.
Brian Bonar, CEO of Dalrada, added, “We’re excited about providing access to these life-changing medications, and we believe this will open the door to similar opportunities within the specialty pharmacy space. Working within the weight loss drug market will present us with a wider reach than ever before while driving significant revenue.”
About Dalrada Corporation
Dalrada Financial Corporation (OTCQB: ) is a multi-national holding company that develops, manufactures, and sells a robust suite of products and services in the Clean Energy and Health Care sectors. Dalrada’s core segments include , which offers cutting-edge heat pump technology for industrial and residential applications, and , which provides end-to-end prescription services as well as patient advocacy and support.
Dalrada Financial Corporation consistently drives innovation that delivers maximum impact, bringing increased value to its shareholders.
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About Genefic
A wholly-owned subsidiary of Dalrada Financial Corporation, proudly delivers frontline health products and services through redesigned systems and reimagined patient care. Genefic’s unique pharmacy solution, , offers more than 30 years of dedicated expertise providing patient advocacy through end-to-end prescription services, medical education, and patient advocacy and support.
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 US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
Media contact: Isabella Monteparte ()
