  We report the detection of OH 1667 MHz and wide HI 21cm absorption at $z \sim
0.67$ towards the red quasar 1504+377, with the Green Bank Telescope and the
Giant Metrewave Radio Telescope. The HI 21cm absorption extends over a velocity
range of $\sim 600$ km/s blueward of the quasar redshift ($z=0.674$), with the
new OH 1667 MHz absorption component at $\sim -430$ \kms, nearly coincident
with earlier detections of mm-wave absorption at $z \sim 0.6715$. The atomic
and molecular absorption appear to arise from a fast gas outflow from the
quasar, with a mass outflow rate ${\dot M} \sim 12 M_\odot$ yr$^{-1}$ and a
molecular hydrogen fraction $f_{\rm H_2} \equiv (N_{\rm H_2}/N_{\rm HI}) \sim
0.2$. The radio structure of 1504+377 is consistent with the outflow arising
due to a jet-cloud interaction, followed by rapid cooling of the cloud
material. The observed ratio of HCO$^+$ to OH column densities is $\sim 20$
times higher than typical values in Galactic and high-$z$ absorbers. This could
arise due to small-scale structure in the outflowing gas on sub-parsec scales,
which would also explain the observed variability in the HI 21cm line.
