Mark Cuban has set ablaze a game-changer in the pharmaceutical supply chain that many lives will benefit from.
TechCrunch reports that the billionaire recently announced the launch of The Cost Plus Drug Company, his online pharmacy that aims to offer affordable prices for generic drugs.
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
Mark Cuban is known for always being ten steps ahead with his business moves, and his latest move could serve as a vital resource for underserved communities as the online pharmacy isn’t necessarily for the entrepreneur’s gain. It’s ultimately for the benefit of the masses.
“I want to be above break even while maximizing the number of people who can afford their medications,” he told the outlet. “Shoot. I would be happy if we can make a little, but push pricing of generics sold elsewhere down significantly.”
He continued: “Our challenge is to keep pushing prices lower. Our KPI is how much we can reduce the stress of our patients who buy generic meds. When people save a lot of money on their medications, they often will tell others they know that have the same challenges. That word of mouth impacts our growth the most.”
What The Cost Plus Drug Company Offers
The online pharmacy intends to provide low prices for as many common medications as possible ranging from ones for migraines to HIV and birth, according to the outlet. There will be no IP deals or insurance companies involved. Consumers will pay with all cash for the pills based on what it costs to make and 15 percent to cover overhead.
The Public's Reactions
People on social media were elated to learn about Cuban’s new endeavor. Many expressed their joy for how the online pharmacy will spearhead affordability for life-saving medications.
“A 2k+ cancer drug is $17 on that pharmacy’s website. Mark Cuban going crazy for that, how incredible and life changing for so many people. Hope they add more drugs as time goes on,” a Twitter user expressed.
Some also expressed that they would love to see insulin added to the website as time progresses.