FROM THE, January 19, 2022 / PRNewswire / – Mark Cuban Cost Plus Drug Company (MCCPDC) officially launched its online pharmacy today [www.costplusdrugs.com]. The launch comes just weeks after the creation of their Pharma Benefit Manager (PBM) business. [www.costpluspbm.com] – both of the company’s critical research efforts to help protect consumers from drug price inflation.
According to a September 2021 Gallup poll, 18 million Americans recently were unable to pay
at least one prescription drug for their family due to rising costs, and 1 in 10 Americans skipped doses to save money. The launch of the pharmacy represents the first fundamental milestone in bringing affordable drugs to millions of people.
Notable drugs that embody the drugstore’s substantial savings include:
- Imatinib – treatment of leukemia
- Retail price: $ 9,657 per month
- Lowest price with common voucher: $ 120 per month
- MCCPDC Price: $ 47 per month
- Mesalamine – treatment of ulcerative colitis
- Retail price: $ 940 per month
- Lowest price with common voucher: $ 102 per month
- MCCPDC Price: $ 32.40 per month
- Colchicine – treatment of gout
- Retail price: $ 182 per month
- Lowest price with common voucher: $ 32 per month
- MCCPDC Price: $ 8.70 per month
“We will do whatever it takes to provide affordable pharmaceuticals to patients,” he said Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug. “The markup on potentially life-saving drugs that people depend on is an issue that cannot be ignored. It is imperative to take action and help expand access to these drugs for those who need them most.”
As a registered pharmaceutical wholesaler, MCCPDC can bypass scandalous intermediaries and mark-ups. Pharmacy prices reflect the manufacturer’s actual prices plus a fixed margin of 15% and a pharmacist’s commission. With the help of digital health care company Truepill, patients can expect a seamless and secure e-commerce experience as they navigate the pharmacy website, built and powered by Truepill’s digital health platform. Patients will also enjoy reliable prescription fulfillment and delivery thanks to Truepill’s national pharmaceutical footprint.
Because the company refuses to pay spread prices to third-party PBMs in order to process insurance claims, the online pharmacy will be a cash payment firm. However, its model means that patients can immediately purchase a wide range of drugs at prices often lower than the total of most insurance plans and copay requirements.
In November 2021 MCCPDC entered the PBM industry to serve companies that provide prescription coverage in their employee benefit plans. The MCCPDC has pledged to be “radically transparent” in its negotiations with drug companies such as PBM, revealing the true costs it pays for drugs and eliminating tiered pricing and misaligned discount incentives. MCCPDC predicts that its PBM could save companies millions of dollars without changing its benefits, depending on the size of the employer, because it will do away with the traditional PBM model. The company plans to integrate its pharmacy and wholesaler with its PBM, so any company using its PBM will have access to wholesale pricing through its online pharmacy.
“There are numerous bad actors in the pharmaceutical supply chain that are preventing patients from obtaining affordable drugs,” Oshmyansky said. “The only way to ensure affordable prices is vertical integration.”
About Mark Cuban Cost Plus Drug Company
The Mark Cuban Cost Plus Drug Company aims to fundamentally change the way the pharmaceutical industry operates. As a non-profit corporation, its social mission to improve public health is just as important as the bottom line. The company transparently charges a standard markup on every drug it sells. With the launch of its online pharmacy’s first inventory of 100 affordable generic drugs in January 2022establishment of a vertically integrated pharmaceutical benefits manager and construction of a state-of-the-art pharmaceutical factory a Dallas scheduled for completion by the end of 2022, the company is on track to make drugs affordable for all.
Media contact: Bishop Wash | (972) 854-1586 | [email protected]
SOURCE Mark Cuban Cost Plus Drug Company