Posted on 01/30/2022 6:08:26 AM PST by 11th_VA
Last week, tech entrepreneur, Shark Tank investor, and Dallas Mavericks owner Mark Cuban entered the billionaire class's competitive philanthropy race by launching an online healthcare marketplace offering generic drugs at affordable prices. But his new venture isn't a charity. The new digital pharmacy called Mark Cuban Cost Plus Drug Company (MCCPDC) promises to sell medications for the cost of the drugs plus a 15 percent markup and a $3 dollar pharmacist fee. Shipping is an additional $5.
At launch, the website is selling more than 100 medications, and while insurance is not accepted by the company, the pricing for many of these drugs is less than what people would pay even with insurance.
"It's ridiculous what the pricing for generic drugs is. Period end of story," Cuban told Forbes via email.
The pharmacy's website costplusdrugs.com further lays out his mission of affordability and transparency. "We started Mark Cuban Cost Plus Drug Company because every American should have access to safe, affordable medicines. If you don’t have insurance or have a high deductible plan, you know that even the most basic medications can cost a fortune..
At launch, drugs for conditions ranging from cancer to high cholesterol, HIV, diabetes, and more are available for sale, and the company plans to expand their offerings. "We will add them as quickly as we can," Cuban tweeted to someone asking about a medication not initially included on the marketplace. He also noted that they are "building a plant in Dallas so that we can do our own injectables [sic] as well." And if costs go down, prices will too—though they intend to stick to that 15 percent markup. "If others beat our pricing, we celebrate," Cuban said on Twitter.
(Link to formulary:)
https://costplusdrugs.com/medications/
(Excerpt) Read more at yahoo.com ...
while insurance is not accepted by the company, the pricing for many of these drugs is less than what people would pay even with insurance
Can I get Ivermectin?
I don’t recall him supporting Trumps attempts to lower med costs.
Defund CVS!
< /snark>
Seems like a good thing, but gauging Cuban’s character from Shark Tank, he’s got an ulterior motive.
Making money no doubt, but it’s a great idea.
Wally-World will beat all his prices and do it with no shipping fees.
I’d like to see a price comparison with Canadian generic prices.
Could he wipe out Canadian online pharmacies?
I don't trust anyone that grins/smiles all the time.
I posted a link to the formulary - but I don’t have Canadian prices.
Having said that, I once needed a pain killer in Spain and bought a box of OxyContin in Spain for 11 Euros without insurance. All their drugs are prepackaged, 20 pills to the box, so you don’t need a pharmacist to count out the pills - I’m sure that saves money. And you get higher dose pills, so cut them in half if you need a lower dose
If you change the amount say from 30 to 90 tabs, the cost is not updated in the Pricing.
So if you drug costs $3.60 plus $5 shipping which “includes the pill bottle and envelope for shipping, which costs $0.48, and a variable fee for carriers, depending on where we are shipping to.”
You have to guess that the additional tabs will still have the same amount of markup. Even so, it looks like one will save a few bucks, if you don’t mind the wait.
While this seems like it will save some money, its hard to beat getting the tabs in a few hours, at most, from the local Pharmacy, rather than wait days for the carrier to deliver.
IF this is true & as represented, I will give Cuban credit.
Otherwise, I don’t like him
15% is more than grocery stores make.
No I wouldn’t have posted my comment if I simply thought making money was his motive. Of course there is absolutely nothing wrong with wanting to make money.
But my guess would be that this is a platform that Cuban will launch a political run off of. And I don’t consider that a good thing because, in my humble opinion, Mark Cuban is not an honorable man. Wouldn’t be surprised if he runs as a Third Party candidate in 24 just to knock the Republican off the ballot. You owe me a dollar if it turns out I’m right.
Wait a second...he instituted an vaxx mandate on his employees for the basketball games and a strict mask mandate for attendees.
I think he just wants in on creating his own big pharma. He was anti-Trump to boot.
Three strikes you’re out.
No, all the people on that show clearly have a profit motive. Sometimes there’s a charitable aspect, but it’s ultimately about making more money. They’ve certainly hit some good ideas over the years.
My wife has been getting her 90 day prescriptions at Costco for cash that would cost 3X those prices if “taking advantage” of her insurance pricing.
Please ask what their store price is and what the GoodRX price is and get the cheapest of them all.
Thanks for the clarification. I see your point. That’s entirely possible.
Fortunately, there's a pharmacy next door to my doctor that fills scrips for Ivermectin and HCQ. I go back in for a followup next week. Last 3 weeks have been hell, lost 25 pounds the first ten days, but I've regained half of the lost weight. Was able to work every day last week, with overall good results. I'm feeling pretty good this morning.
Along with the drug regimen (last dose this morning), it's been Ensure, Gatorade, smoothies and Golden Chick chicken.
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