Cost Plus Drugs : Lowest Prices on Lifesaving Prescriptions

Mark Cuban Cost Plus Drug Company Has Officially Launched its Online Pharmacy

Definition

Mark Cuban Cost Plus Drug Company (MCCPDC)

Mark Cuban Cost Plus Drug Company (MCCPDC), doing business as Cost Plus Drugs, is a public benefit corporation (PBC) with its primary headquarters in Dallas, Texas. The company is focused on the pharmacy distribution of drugs with a stated goal to lower the prices for generic drugs by removing intermediaries and moving to a cost-plus pricing strategy. As of June 2022, the company has a selection of over 100 generic drugs. The drugs are sold for a price equivalent to the company's cost plus a 15% markup and a $3 pharmacy service fee. The company currently ships to all 50 U.S. States.

Main Digest

The Mark Cuban Cost Plus Drug Company aims to change how the pharmaceutical industry operates fundamentally. As a public-benefit corporation, its social mission of improving public health is just as important as the bottom line. The company transparently charges a standard markup on every drug it sells. With the launch of its online pharmacy's first inventory of 100 affordable generic drugs in January 2022, its establishment as a vertically integrated pharmacy benefits manager, and the construction of a state-of-the-art pharmaceutical factory in Dallas slated for completion by the end of 2022, the company is well on its way to making medication affordable for all.

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Mark Cuban Cost Plus Drug Company (MCCPDC) has officially launched its online pharmacy. The launch comes just weeks after their pharmacy benefit manager (PBM) operation was established - both critical efforts in the company's pursuit to help shield consumers from inflated drug prices.

According to a September 2021 Gallup poll, 18 million Americans were recently unable to pay for at least one prescription medication for their household due to ever-rising costs, and 1 in 10 Americans have skipped doses to save money. The pharmacy's launch represents the first critical milestone in bringing affordable medications to millions.

Notable medications that epitomize the pharmacy's striking savings include:

Imatinib - leukemia treatment:

Retail price: $9,657 per month - Lowest price with a common voucher: $120 per month - MCCPDC price: $47 per month.

Mesalamine - ulcerative colitis treatment:

Retail price: $940 per month - Lowest price with a common voucher: $102 per month - MCCPDC price: $32.40 per month.

Colchicine - gout treatment:

Retail price: $182 per month - Lowest price with a common voucher: $32 per month - MCCPDC price: $8.70 per month.

"We will do whatever it takes to get affordable pharmaceuticals to patients," said Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug. "The markup on potentially lifesaving drugs that people depend on is a problem that can't be ignored. It is imperative that we take action and help expand access to these medications for those who need them most."

As a registered pharmaceutical wholesaler, MCCPDC can bypass intermediaries and outrageous markups. The pharmacy's prices reflect actual manufacturer prices plus a flat 15% margin and pharmacist fee.

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With the help of digital healthcare company Truepill, patients can expect a seamless, secure e-commerce experience as they navigate the pharmacy's website, built and powered by Truepill's digital health platform. Patients will also enjoy reliable prescription fulfillment and delivery through Truepill's nationwide pharmacy footprint.

Because the company refuses to pay spread prices to third-party PBMs to be allowed to process insurance claims, the online pharmacy will be a cash-pay venture. However, its model means patients can immediately purchase a broad array of medications at prices often less than what most insurance plans' deductible and copay requirements would total.

In November 2021, MCCPDC entered the PBM industry to serve companies providing prescription coverage in their employee benefit plans. MCCPDC has pledged to be "radically transparent" in its own negotiations with drug companies as a PBM, revealing the true costs it pays for drugs and eliminating spread pricing and misaligned rebate incentives.

MCCPDC anticipates its PBM could save companies millions of dollars with no changes to its benefits, depending on the size of the employer, because it will eliminate the traditional PBM model. The company plans to integrate its pharmacy and wholesaler with its PBM, so any company that uses its PBM will have access to wholesale pricing through its online pharmacy.

"There are numerous bad actors in the pharmaceutical supply chain preventing patients from getting affordable medicines," Oshmyansky said. "The only way to ensure affordable prices get through is to integrate vertically."

Resources That Provide Relevant Related Information

• Mark Cuban's Cost Plus Drug Company Could Save Taxpayers Millions
• Mark Cuban Cost Plus Drugs Can Save You Plenty

Attribution/Source(s):

This quality-reviewed article relating to our Pharmaceutical Information section was selected for publishing by the editors of Disabled World due to its likely interest to our disability community readers. Though the content may have been edited for style, clarity, or length, the article "Cost Plus Drugs : Lowest Prices on Lifesaving Prescriptions" was originally written by Mark Cuban Cost Plus Drug Company, and published by Disabled-World.com on 2022-01-19 (Updated: 2023-06-12). Should you require further information or clarification, Mark Cuban Cost Plus Drug Company can be contacted at costplusdrugs.com. Disabled World makes no warranties or representations in connection therewith.

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