Jimmie Johnson Reporter

‘It’s just wrong’: Mark Cuban’s Cost Plus Drugs takes on Big Pharma

Jul 26, 2022

Jimmie Johnson Reporter

Getting access to affordable and potentially life-saving medications is an ongoing challenge in America, especially if you find yourself unemployed and uninsured. Cost Plus Drugs, a new online pharmacy, is aiming to shake up the pharmaceutical industry by charging a fraction of the price that large pharmacies charge. Billionaire Mark Cuban, the owner of the Dallas Mavericks and an investor on the hit television show Shark Tank, founded the company.

Y’all, @mcuban’s drug company is NO JOKE!! Many of my husband’s cancer patients need this chemotherapy drug, but it can bankrupt them at $2,500/month. Cuban’s price? $14.40. husband almost cried!! 😍😭 #costplusdrugs #cancermeds pic.twitter.com/6d5SM4KQKs
— Hannah Wanebo (@hannahwanebo) June 25, 2022

Cuban, a walking billboard, said he’s fed up with lawmakers in Congress bickering over ways to lower costs.

“It’s just wrong that people have to choose between eating, their rent, and taking their medication or buying their medication,” Cuban said. “In the United States in 2022, it’s just wrong. It was obvious there was not going to be a political solution, and the attempts that are being discussed don’t get to the heart of the problem.”

The company offers over 800 generic drugs.

How does the company keep costs low?

For starters, the company negotiates directly with drug companies, cutting out middlemen like pharmacy representatives.

Cost Plus Drugs also does not accept insurance. According to their website, “Prices are less than what you would pay when using your insurance at a typical pharmacy.”

In addition, the company breaks down pricing from production to delivery, letting you know how much it marks up the drug, unlike traditional pharmacies.

Cuban said the company has only been shipping for less than a year and has already exceeded its two-year expectations.

In the coming months, the company plans to add name brand drugs to its inventory, but the biggest challenge has been getting Big Pharma to sell directly to them.

JIMMIE JOHNSON: THIS WAS THE COST OF A DRUG DOCTORS PRESCRIBED TO ME WHEN I WAS SICK AND UNINSURED IN 20-20.

THE HIGH PRICE OF PILLS AND OTHER MEDICATIONS IS SOMETHING WE’VE TALKED ABOUT BEFORE.

NOW- THE PHARMACEUTICAL INDUSTRY IS FACING A DISRUPTION FROM ONE COMPANY CHARGING A FRACTION OF THE PRICE.

PRICES LIKE THESE – WITH NO INSURANCE, AND NO ADVERTISING – HOW DOES THIS EVEN WORK? LET’S GET THIS STRAIGHT.

COST PLUS DRUG COMPANY CARRIES MORE THAN 8-HUNDRED GENERIC DRUGS.

FOUNDER MARK CUBAN BECAME A WALKING BILLBOARD FOR THE BRAND.

THE BILLIONAIRE BUSINESSMAN AND ONE OF THE INVESTORS ON SHARK TANK WAS [pics: GettyImages-760888 + GettyImages-1164915887]

FED UP WITH POLITICIANS BUTTING HEADS OVER LOWERING COSTS.

MARK CUBAN: “It’s just wrong that people have to choose between eating, their rent, and taking their medication or buying their medication.” in the united states of America in 2022, it’s just wrong. It was obvious there was not going to be a political solution, and the attempts that are being discussed don’t get to the heart of the problem.”

JOHNSON: UNLIKE TRADITIONAL PHARMACIES, THE COMPANY NEGOTIATES DIRECTLY WITH DRUG COMPANIES, CUTTING OUT THE MIDDLE MEN.

WHILE THE COMPANY DOES NOT ACCEPT INSURANCE, “PRICES ARE LESS THAN WHAT YOU WOULD PAY WHEN USING YOUR INSURANCE AT A TYPICAL PHARMACY.” ACCORDING TO THEIR WEBSITE.

AT CHECKOUT, THEY ALSO BREAK DOWN THE COST OF THE DRUG, FROM PRODUCTION TO PROFIT, ALL THE WAY TO THE PHARMACIST.

CUBAN SAYS THE COMPANY HAS ONLY BEEN SHIPPING FOR ROUGHLY SIX MONTHS AND HAVE ALREADY EXCEEDED THEIR TWO YEAR EXPECTATIONS.

THEY ALSO PLAN TO ADD BRAND NAME DRUGS BUT THEIR BIGGEST CHALLENGE RIGHT NOW IS GETTING BIG PHARMA TO SELL TO THEM.