Mark Cuban, the billionaire investor, has just opened an online pharmacy that sells more than 100 generic drugs at prices intended to be more affordable than those of other pharmacies.
The entrepreneurial expert on the ABC reality TV series “Shark Tank” launched the Mark Cuban Cost Plus Drug Co. (MCCPDC) website with the intention to “help shield consumers from inflated drug prices,” according to a press release.
In the press release, the company cites its prices for a trio of drugs and compares them with prices elsewhere:
Imatinib (leukemia treatment)
- Retail price: $9,657 per month
- Lowest price with common voucher: $120 per month
- MCCPDC price: $47 per month
Mesalamine (ulcerative colitis treatment)
- Retail price: $940 per month
- Lowest price with common voucher: $102 per month
- MCCPDC price: $32.40 per month
Colchicine (gout treatment)
- Retail price: $182 per month
- Lowest price with common voucher: $32 per month
- MCCPDC price: $8.70 per month
Mark Cuban Cost Plus Drug Co. says it is able to offer medications at more affordable prices because it is a registered pharmaceutical wholesaler. That allows it to “bypass middlemen and outrageous markups,” the company says.
It adds that its prices boil down to actual manufacturer prices plus a flat 15% margin and pharmacist fee.
The company does not accept health insurance but notes that its prices often are less than the copay and deductible requirements of most insurance plans.
To use the new website, you should:
- Find your medication by searching the online store. You can also browse alphabetically or by medical condition.
- Sign up for an account and choose your medication.
- Notify your doctor or other health care provider with the instructions provided by the pharmacy (costplusdrugs.com/contactyour-doctor) so you can get your prescriptions.
Once the pharmacy receives the prescription from your doctor, you will receive a notification to check out. After that, your prescriptions will be delivered within a few days. The Truepill pharmacy fills the prescriptions.
For more ways to save on your medications, check out “5 Websites You Should Check Before Buying Prescriptions.”