Mark Cuban last week launched an online pharmacy promising affordable prescription drugs by cutting out the middlemen.
“The Mark Cuban Cost Plus Drug Company is trying to reduce patient’s drug costs by really any means necessary,” the company’s CEO Alex Oshmyansky said, according to The Dallas Morning News.
“In our online pharmacy, we’ve essentially found a category of drugs which are extremely expensive, not really because of the price from the manufacturer, but because of the price markups due to middlemen in the supply chain, primarily pharmaceutical wholesalers and pharmaceutical benefit managers.”
In one instance, the drug Albendazole, listed for $6,565.28 at other retailers, can be bought instead at a generic version for $453.00 on Cuban’s website.
The company, which is set up as a pharmaceutical wholesaler buying drugs directly from manufacturers, says it sells drugs at a flat 15% markup and a $3 pharmacist fee.
Oshmyansky adds that “our goal is not just to catch attention today, but to try to help people out every day, so hopefully we can keep the enthusiasm going.”
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