Billionaire venture capitalist Mark Cuban has started his own drug company that provides medicine for low prices and is disrupting the $365-billion U.S. prescription drug market.
- Mark Cuban founded The Mark Cuban Cost Plus Drug Co. to stop the price gouging in the drug industry and bring down the costs for those who rely on medication.
- The business works by cutting out the pharmacy middleman and getting the best possible medication price straight from the drug manufacturers.
- The company has a 15% margin to stay in business and still give the customer the lowest possible price.
- Examples of price differences, according to The Mark Cuban Cost Plus Drug Co. website…
- Imatinib (generic for chemotherapy medication Gleevec) $14.40 compared to $2,502.50
- Mesalamine (generic for Crohn’s disease medication Canasa) $26.70 compared to $766.80
- Albendazole (generic for parasite medication Albenza) $33 compares to $437.68
Why it’s important
The U.S. prescription drug market is worth $365 billion in which most of the money comes from the pharmaceutical middle man gouging prices.
To disrupt this industry and make prescription medication prices more affordable, billionaire venture capitalist Mark Cuban has started his own drug company—The Mark Cuban Cost Plus Drug Co.
The Mark Cuban Cost Plus Drug Co. works by cutting out the pharmaceutical middleman and getting drugs directly from manufacturers, dramatically lowering drug costs. The company has a 15% margin to remain in business while still providing customers with the lowest price for prescription medication.
“Everyone should have safe, affordable medicines with transparent prices,” says Cuban.
The company offers 350 prescription drugs to customers. The website has a list of all available medications and prices. Once a customer finds the needed drug on the website and sends the company’s pharmacy partner a prescription, the drugs will be delivered to the customer’s home.