Mark Cuban’s Affordable Drugs

Generally, the super-wealthy are obsessed with their own pet projects. One who has a pretty-positive perception is Mark Cuban. Best known for owning the Dallas Mavericks along with being the wealthiest Shark on Shark Tank, Cuban has done something amazing. He’s opened an online pharmacy so people can actually get their medications for an affordable price. Chris Morris at Fortune has the details.

To lower costs, Cuban cut out the middleman, setting up his own pharmaceutical wholesaler and negotiating directly with drug manufacturers and pharmacies for rebates and discounts. [There is an] added $3 pharmacist fee. Shipping is $5.

Fortune

CostPlus does not accept insurance. Per their FAQ they state “…our prices are less than what you would pay when using your insurance at a typical pharmacy.” The interesting part is how up-front Mark Cuban and CostPlus are about the nuts & bolts about this venture. Cuban wants people to have affordable medications and they’re cutting prices by going direct to the manufacturer. They’re even transparent about their profit margin.

Every product we sell is priced exactly the same way our cost plus 15%, plus the pharmacy fee, if any.

CostPlus Mission Statement

It’s a sorry state of affairs that in the United States the cost of simply staying healthy and using any medical services is cost-prohibitive. Other countries have figured this out. And while no system is perfect, it is shameful that GoFundMe has become the de-facto insurance plan for so many people in America.

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