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Cost Plus Drugs

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Mark Cuban Cost Plus Drug Company, PBC
IndustriePharmaceuticals
GründerAlex Oshmyansky and Mark Cuban
Hauptsitz
Dallas, Texas
,
US
Key people
Alex Oshmyansky and Mark Cuban
Websitecostplusdrugs.com

Cost Plus Drugs, more formally known as Mark Cuban Cost Plus Drug Company (MCCPDC), is a Public Benefit Corporation (PBC)[1] with headquarters in the US state of Texas. The company is focused on the pharmacy distribution of drugs with stated goal to lower the prices for generic drugs by removing middlemen and by moving to a cost-plus pricing strategy.[2]

Origins and concept

The company was launched for the public in January 2022.[3] It was co-founded by radiologist Alexander Oshmyansky and Mark Cuban. According to Cuban, in 2018, Oshmyansky contacted Cuban with an email entitled "cold pitch" in which he asked Cuban to invest in a pharmacy he envisioned to manufacture generic drugs and skip the middleman wholesalers.[4] The company claims that the intermediary layer of the pharmacy benefit managers, is typically responsible for the heavy markup that drugs see between the manufacturers and the customers.[5][6] The company uses Truepill Pharmacy's accredited pharmacists to fill prescriptions. It does not accept all insurance policies.

Operations

As of February 2022, the company is in the process of constructing a 22,000 square-foot factory in Deep Ellum, Dallas, for the purpose of manufacturing drugs in-house, which is scheduled to open in the 4th Quarter of 2022.[7]

As of June 2022, the company has a selection of over 100 generic drugs.[8] The drugs are sold for a price equivalent to the company's cost plus 15% and a $3 pharmacy service fee.[5] Oshmyansky is the CEO[4] and Cost Plus Drugs ships to all 50 US States.[9]

References

  1. ^ "Mark Cuban Cost Plus Drug Company". www.markcubancostplusdrugcompany.com. Retrieved 2022-06-19.
  2. ^ "Mission of Mark Cuban Cost Plus Drugs". costplusdrugs.com. Retrieved 2022-06-26.
  3. ^ Hernandez, Joe (2022-01-24). "Billionaire Mark Cuban launches online pharmacy aimed at lowering generic drug prices". NPR. Retrieved 2022-06-19.
  4. ^ a b Cesaric, Corin How Mark Cuban's online pharmacy plans to make medications affordable, NBCChicago.com April 14, 2022
  5. ^ a b Foster, Tom Mark Cuban's audacious cure for high-priced drugs, Inc.com May 2022
  6. ^ Mark Cuban Cost Plus Drug Company's online pharmacy launches with lowest prices on 100 lifesaving prescriptions, PRNewswire.com January 19, 2022
  7. ^ Innovates, Dallas (2022-02-02). "Mark Cuban Cost Plus Drug Co. Tops Out Its Deep Ellum Facility". Dallas Innovates. Retrieved 2022-06-19.
  8. ^ "New Mark Cuban company slashes high drug prices: "Life changing"". Newsweek. 2022-06-07. Retrieved 2022-06-19.
  9. ^ https://costplusdrugs.com/faq/
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