Mavericks owner and billionaire Mark Cuban is taking on big pharma with his latest venture, Mark Cuban Cost Plus Drug Company.
The venture spawned from a cold email sent by radiologist Alex Oshmyansky, who was frustrated with the cost of medications and how patients were receiving their prescribed medications. The email got a hugely positive response from Cuban, who then backed the venture.
The company plans to launch an online pharmacy, which will see the 100 most-often prescribed generic prescription drugs. The company plans to be transparent with cost and will tack on a flat 15% margin to the manufacturing price of the drug, plus a $3 dispensing fee. Then will sell that wholesale to pharmacies. The company will then set the suggested retail price.
The company first product will be Albendazole, an antiparasitic drug that sells for around $225 a pill. Patients getting the pill from Mark Cuban Cost Plus would pay $20.
The company will build a plant in Deep Ellum in 2022 which will combine manufacturing, distribution and pharmacy services under one roof.
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