Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

In July 2024, the Company executed a purchase agreement to acquire all membership interests of a 503B compounding outsourcing facility registered with the Food and Drug Administration and located in the United States, for total cash and stock consideration of approximately $31 million. The Company entered into the purchase agreement in order to expand its compounding capabilities. Closing is subject to certain conditions pursuant to the purchase agreement, including certain regulatory approvals.

In July 2024, the Board of Directors authorized and approved a new share repurchase program pursuant to which the Company may repurchase up to $100 million of the Company’s Class A common stock. The program expires on August 31, 2027. The Company intends to use the program to repurchase shares on a discretionary basis from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases, privately negotiated transactions or other means. This repurchase program may be commenced, suspended or discontinued at any time.