STAT August 10, 2023
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Pharma tightening trickles down to Doximity
Health care networking portal Doximity posted better than expected earnings on $108 million in revenue last quarter, an increase of 20% year over year. But it wasn’t all sunny news as the company also lowered its forecast for the year and announced it would lay off about 100 people, or 10% of its workforce.
Doximity’s headwinds around its marketing solutions — which help pharmaceutical and hospital clients advertise their products — are notable. CEO Jeff Tangney told investors that “pharma’s...
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