Mark Cuban launches online drug company in an effort to eliminate costly pharmaceutical prices.

Ella McAlister, Leady Copy Editor/Asst. Editor

On January 19, Mark Cuban launched his own online drug company titled Mark Cuban Cost Plus Drug Company (MCCPDC). This company is making the effort to eliminate some of the struggle that comes with the costly pharmaceutical prices. 

According to a poll from Gallup and West Health, about 7% of U.S. adults (approximately 18 million Americans) “were unable to pay for at least one prescription medication for their household” in September 2021. This poll shows how these shockingly high prices have affected millions across the nation. 

On Cuban’s website, Costplusdrugs.com, Cuban included a letter explaining that “Our goal is to dramatically reduce the cost of drugs…but we also think that it is just as important to introduce transparency to the pricing of drugs so patients know they are getting a fair price.” In other words, the MCCPDC is looking to fundamentally improve public health costs by eliminating the usage of spread pricing and making the process of prescribing medication less complicated. 

This online pharmacy uses Truepill (a digital healthcare company) for patients to navigate the company’s website. This offers a reliable way for consumers to have their prescriptions fulfilled and delivered through a nationwide platform. 

While the MCCPDC is able to avoid these excessive prices, the company’s prices will mirror the actual drug manufacturing price with an additional 15% margin and pharmacist fee. They have refused the act of paying other third-party Pharmacy Benefit Managers to process claims of insurance, so the pharmacy will use a cash pay venture for patients. 

One medication that exemplifies the pharmacy’s efforts includes Imatinib, which is a treatment for leukemia. The retail price for this pharmaceutical is about $9,657 per month, with the lowest price being about $120 per month with a common voucher. However, the MCCPDC price is about $47 per month, showing over two and a half times the difference. 

“We will do whatever it takes to get affordable pharmaceuticals to patients,” states Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug Company. “The markup on potentially lifesaving drugs that people depend on is a problem that can’t be ignored.”

The MCCPDC established an inventory of 100 drugs made affordable to patients in January 2022, and they are expected to have their own pharmaceutical factory in Dallas by the end of 2022. This company is truly making affordable healthcare possible for citizens nationwide.