Mark Cuban is Shaking Up the Pharmaceutical Game
- Ethan Mehta
- Mar 11, 2022
- 2 min read
The State of Pharmaceutics in America
In the United States, healthcare is a largely privatized business. This means that individual companies control the healthcare and medication needs of the country. Companies such as Pfizer and Johnson and Johnson for example profit massively due to a system of patents on drugs. The system works as follows: the highest selling and most popular medications in the country are produced in mass by big pharma companies. These companies file patents on the ingredients and put massive markups on the medicine they make as a result. Median price markups for cancer drugs ranged from 118% to 634% as well as other drugs such as inulin which are needed for daily living for many across the country costing anywhere from $50 to $1000 per vial, a cost many cannot afford. For a long time, this behavior has gone unchecked and these patents have been in effect for upwards of 20 years at a time. Although many have complained to the government over these exploitative practices, Big Pharma companies usually settle outside of court or use connections with the government to protect themselves. What the industry needed was a billionaire who had the funding and public image to stand up to Big Pharma. Mark Cuban is doing just that.
What Is CostPlus Drugs?
Mark Cuban and Alexander Oshmyansky have launched a website to directly supply medicine to those in need at a fraction of the cost. The CostPlus Drug Company has a simple goal: to make medicine affordable for people across America. The business is very simple yet genius. They use the generic brand medicines formulas and take the cost of manufacturing plus a 15% markup and sell this directly to customers if a prescription is provided by one's doctor. The company has done just that. Major drug prices are much lower on CostPlus Drugs than when they are being sold by Big Pharma Companies.
Cost of Drugs
Listed below are just some of the drugs that CostPlus Drugs offers
Retail Price: $1,096.10
CostPlus Price: $57.60
Save $1,038.50
Retail Price: $437.68
CostPlus Price: $33.00
Save $404.68
Retail Price: $677.80
CostPlus Price: $6.00
Save $671.80
Capsule
Retail Price:$357.60
CostPlus Price: $9.30
Save $348.30
Retail Price: $824.59
CostPlus Price: $11.40
Save $813.19
What does this mean?
CostPlus Drugs is looking to completely revolutionize the pharmaceutical game. By circumventing the patents and making the price as low as possible, CostPlus Drugs is saving lives all across America. With more people learning about this website, it has the potential to change the way that people across America get their medication. Cuban and Oshmyansky are ushering in a new wave; one focused on the consumer.
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