Millions of people in the U.S. are unable to afford certain prescription medications, including some that are life-saving. That is why Mark Cuban has launched an online pharmacy that offers generic drugs at a discount.
In January, the billionaire investor and Dallas Mavericks owner launched the Mark Cuban Cost Plus Drug Company, according to a press release. MCCPDC says it will negotiate drug prices directly with manufacturers to lower costs for consumers.
The pharmacy says that by bypassing health care industry “middlemen” and “outrageous markups” it can offer consumers a flat rate of the manufacturers’ prices plus a 15 percent margin. The pharmacy won’t accept health insurance but says prices will still be lower than what most people would typically pay at a pharmacy.
“The markup on potentially lifesaving drugs that people depend on is a problem that can’t be ignored,” Alex Oshmyansky, CEO of Cuban’s online pharmacy, said in the release. “It is imperative that we take action and help expand access to these medications for those who need them most.”
The website currently offers 100 generic drugs to treat a wide range of illnesses, including diabetes and asthma, and can deliver to every state in the U.S. except North Carolina.
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