Shark Tank Investor Opens Online Pharmacy to Battle High Drug Prices

Shark Tank Investor Opens Online Pharmacy to Battle High Drug Prices

( – Billionaire Mark Cuban is a complicated guy. He’s a shrewd businessman and a compassionate human being. He holds both progressive and conservative opinions. One thing that isn’t complicated about the Shark Tank host is his dedication to helping people and he’s hoping his latest venture will do just that.

On January 19, the Mark Cuban Cost Plus Drug Company (MCCPDC) launched its online pharmacy. The pharmacy is promising deeply-discounted drugs made possible by reportedly bypassing the “middlemen” to help customers avoid massively marked-up prices. Instead, the company will sell the drugs at cost with a 15% markup.

According to reports, MCCPDC wants to show consumers how much drugs actually cost. Officials said the current system allows outrageous markups because of the fees paid to pharmacy benefit managers, pharmacists, and pharmacies. One example of the discounted price is for a leukemia treatment called Imatinib. The drug usually costs about $120 a month with a voucher but Cuban’s pharmacy will offer it for $47 per month.

Cuban urged Americans to sign-up for the website and report their experiences with the company.

MCCPDC CEO Alex Oshmyansky told reporters the problem of high costs for life-saving drugs is something he doesn’t believe should be ignored. He said the company “will do whatever it takes” to lower prescription costs for people.

Let us know, would you use Mark Cuban’s website for prescriptions?

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