A little over one year ago, Mark Cuban, the entrepreneur, Shark Tank investor, and one of America’s most famous billionaires, opened the “Mark Cuban Cost Plus Drugs Company.” The company is an online pharmacy aimed at shaking up the generic drug market and, according to Cuban, is something that has turned out to be one of his most important investments to date.
The company is a registered pharmaceutical wholesaler, so it negotiates with drug manufacturers for a low price and bypasses other secondary middlemen distributors. In doing so, Cuban’s company is able to avoid large markups on generic medicine so that customers buying from them receive their drugs for a fixed price that includes, as Cuban noted, a 15% margin, a $3 pharmacist fee, and a $5 shipping fee.
Cost Plus Drugs doesn’t accept insurance, meaning drugs are paid for out of pocket. For people purchasing really expensive drugs, this could push Cost Plus Drugs out of the equation. For very cheap drugs, too, something as minor as the $5 shipping fee could make the price of certain drugs on Cuban’s website more expensive than at local pharmacies where shipping is not required.
Cuban is unfazed by Amazon’s imitation pharmacy and believes his company remains a notch above. “Anything that lowers the cost of meds is good,” he said. “But we don’t have any membership or monthly fees. And with costplusdrugs.com, your doctor can prescribe three, six, nine, or 12 months supply that can cost less than Amazon.”
A shark in the tank he may be, Cuban views altruism and capitalism as entirely compatible. “For me, capitalism means just being able to start a company or run a company and accomplish the goals that are important to me. It’s not just about making as much money as you want to make,” he said in a 2022 Forbes interview. “Gen Zers and younger millennials that are coming on to pitch us businesses, there’s always a social construct, there’s always a social mission.
If you didn’t know better the liberal wussbag is actually doing something for the people in this country the democrats are F’ing. Democrat communists SUCK
Marks company only sells generics which can be purchased for low prices almost everywhere.
The wife and I spent approximately $250. Canadian touch wood