In an effort to lower the price of medication for consumers, billionaire investor Mark Cuban has launched an online pharmacy, with over 100 generic drugs listed at a significantly more affordable price than usual.
The Mark Cuban Cost Plus Drugs Company (MCCPDC) purchases drugs directly from manufacturers, bypassing the middleman that oftentimes astronomically hikes up the price of the medication. The leukemia drug Imatinib, for example, is priced at $47 a month on MCCPDC’s registered pharmaceutical wholesaler website, compared to the whopping $9,657 price tag for the same drug in a regular pharmacy.
“I wanted to show that capitalism can be compassionate and to send the message I am all in,” Cuban says of his investment.
The company is currently building a pharmaceutical factory in Dallas, expected to be completed in April, in order to fill and package the medication under sterile conditions. Customers will be required to pay out of pocket for medications, though the price tag of generic drugs bought from MCCPDC will cost less than most insurance plans’ deductible and copay requirements. “Radical transparency” is the name of Mark Cuban’s game.
