Mark Cuban knows good business deals. Now the billionaire investor, Dallas Mavericks owner and Shark Tank host may have a deal for you. Last week, he launched an online pharmacy that offers over 100 generic drugs—including cancer, diabetes, HIV, hepatitis and cholesterol meds—and they’re all sold at the manufacturers’ cost plus a flat 15% markup and a pharmacist fee.
The online pharmacy—Mark Cuban Cost Plus Drug Company—does not accept insurance, which means customers must pay out of pocket. However, the generics on Cuban’s site, CostPlusDrugs.com, are often considerably cheaper than what people with insurance are paying.
If you are looking for lower pricing on your generic drug purchases, go to https://t.co/LYIIV9Pqzd and sign up ! All drugs are priced at cost plus 15% ! Sign up and share your thoughts and experiences with us ! https://t.co/bFXCMccmvy— Mark Cuban (@mcuban) January 20, 2022
A slew of costumer tweets attest to the savings (several are embedded in this article), as do reports from Deadspin (“It’s Quite a Country When Mark Cuban, Not Congress, Will Give Americans Cheaper Drugs”), NPR (“Billionaire Mark Cuban Launches Online Pharmacy Aimed at Lowering Generic Drug Prices”) and FierceHealthcare (“Cuban’s Drug Company Launches Pharmacy, Promising Striking Savings on Generic Drugs”).
“If you are looking for lower pricing on your generic drug purchases, go to CostPlusDrugs.com and sign up,” tweeted Cuban, adding: “All drugs are priced at cost plus 15%!”
Browse the site’s Medication page to find whether Cost Plus Drug offers your meds and, if so, what it charges. You’ll find the generics listed alphabetically as well as divided into categories, such as Allergies, Cancer, Diabetes, Heart Health, High Blood Pressure, High Cholesterol, HIV, Mental Health, Smoke Cessation and much more.
A few samples of price differences: A 30-count supply of 500 mg tablets of the diabetes drug metformin (generic Glucophage) sells for $3.90 on CostPlusDrugs.com and retails at a pharmacy for $20.10. The website further breaks down the price. In this case, the manufacturing cost of metformin is 60 cents; the 15% markup amounts to 30 cents; and the pharmacy labor fee is $3, for a total of $3.90. Of note, there is an additional shipping cost at checkout. In this case, it’s $5.
Mark Cuban is the ????????— Hannah Konit$hek ???? ⚖️ (@HannahKonnn) January 22, 2022
I pay $50 for one of my prescriptions (and I have a solid insurance plan). This drops it down to $8. 84% cost savings.
If politicians won’t fix our healthcare system, entrepreneurs will just innovate around it. ???????? https://t.co/IU7NAGKTMN
In other instances, the price difference is staggering. The HIV med abacavir/lamivudine (generic Epzicom) retails for $1,096 but is sold for $57.60 on CostPlusDrugs.com. The manufacturing cost the the drug is $47.40; the 15% markup comes to $7.20; and the pharmacy labor fee is $3, for a total of $57.60, with $5 for shipping added at checkout.
One last example: The med imatinib (generic Gleevec), a leukemia treatment, retails for $2,502 at pharmacies and, according to a Cost Plus Drug press release, is available with a voucher for $120 per month. But on CostPlusDrugs.com, the same med costs $17.10.
Hey #IBD folks on generic drugs - check out the GI meds at @costplusdrugs (A PBC) - Canasa, mesalamine, esomeprazole available at reasonable prices. Hoping that budesonide and biosimilars (adalimumab, infliximab) are next. Fewer patients driving to Canada? https://t.co/Xcrgjkctt1— Peter Higgins (@ibddoctor) January 22, 2022
“We started this company as an effort to disrupt the drug industry and to do our best to end ridiculous drug prices,” Cuban explains in the company’s mission statement. “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.”
“The markup on potentially lifesaving drugs that people depend on is a problem that can’t be ignored,” said Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug, in a press release for the company’s launch. “It is imperative that we take action and help expand access to these medications for those who need them most.”
We will add them as quickly as we can. We are building a plant in Dallas so that we can do our own injectibles as well . https://t.co/h08SYvR3xJ— Mark Cuban (@mcuban) January 22, 2022
Cost Plus Drug works with Truepill to ensure prescription refill and delivery.
According to Cuban, the online pharmacy plans to increase the number of generics it offers. “We will add them as quickly as we can,” he tweeted. “We are building a plant in Dallas so that we can do our own injectables as well.”