Billionaire and NBA team Dallas Mavericksโ owner, Mark Cuban, is now helping countless US citizens by offering affordable generic medicines. In January 2022, he launched the Mark Cuban Cost Plus Drug Company (MCCPDC), more popularly called Cost Plus Drugs.
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The companyโs mission: โWe started Mark Cuban Cost Plus Drug Company because every American should have access to safe, affordable medicines. If you donโt have insurance or have a high deductible plan, you know that even the most basic medications can cost a fortune. Many people are spending crazy amounts of money each month just to stay healthy. No American should have to suffer or worse โ because they canโt afford basic prescription medications.โ
Cost Plus Drugs was co-founded by radiologist Alexander Oshmyansky and Cuban himself. According to the billionaire, in 2018, Oshmyansky contacted him via email entitled โcold pitchโ and asked him to invest in a pharmacy that he envisioned to manufacture generic drugs and skip the middleman wholesalers.
They aim to give the citizens generic medicines without punching a hole in their pockets.
The idea of putting up such a pharmacy grew stronger when โPharma Broโ Martin Shrkeli, raised the price of Daraprim, an antiparasitic drug, from $13.50 to $750 per tablet.
โItโs ridiculous what the pricing for generic drugs is. Period end of story,โ Cuban wrote to Forbes in an email.
While Oshmyansky said, โI was just so livid about that. I had patients have serious injuries from the high cost of drugs, which should have been very cheap. Iโve been angry about it for a long time.โ
As of this writing, Mark Cubanโs net worth is at 4.6 billion USD, and heโs proud of what Cost Plus Drugs has accomplished.
โI put my name on it because I wanted to show that capitalism can be compassionate and to send the message I am all in,โ he said.
Theyโve also teamed up with Rojelio Mejia, an assistant professor, and physician at Baylor College of Medicine. Heโs to study the extensiveness of hookworm in the rural areas of Alabama.
Hookworm infection is commonly treated with albendazole which averages $225 per tablet but Cost Plus Drugs sells it for only $33.
More convenient, safe, effective, and budget-friendly.
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Thatโs how most people would describe Cost Plus Drugs because of the huge savings that their generic medicines offer to their consumers.
On top of being the wealthiest among the Shark Tank hosts, Cuban is definitely making good use of his money by keeping himself aware of the capability of people to buy their medicine. Thankfully, he partnered with the right people who share the same mission as him.
โWe will do whatever it takes to get affordable pharmaceuticals to patients,โ Oshmyansky said. โThe markup on potentially lifesaving drugs that people depend on is a problem that canโt be ignored. It is imperative that we take action and help expand access to these medications for those who need them most.โ
Picked up 4 prescriptions yesterday, using GoodRX at Walgreens: almost $240. Checked the price on CostPlus Drugs, $33.60 for all 4. Looks like $5 shipping for each, so total would be $53.60, 90 days worth of each. Retail price for all 4? $643.76. https://t.co/yiL2sKm8lr
โ Hayley (they/them/squealing Jutty Taylor fanboy) (@undeclared_milk) June 19, 2022
Because of Cost Plus Drugsโ mission, more and more people are patronizing them and spreading good words about the online pharmacy. And not only consumers, but major news outlets have also featured Cuban and his new venture.
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Hopefully, Cost Plus Drugs will prosper and reach out even to other countries that needed their safe and affordable generic medicines.
Watch the report in the video below to know more about Cost Plus Drugs.
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