Mark Cuban launches generic drug company

Billionaire investor and Shark Tank star Mark Cuban has launched a generic drug company called the Mark Cuban Cost Plus Drug Company.

The new company's website says it is dedicated to producing low-cost versions of high-cost generic drugs and pledges to "provide radical transparency in how we price our drugs."

The Cost Plus company will publish the costs to manufacture, distribute and market its drugs to pharmacies. It said it adds a 15 percent margin to get its wholesale prices and make sure it remains profitable, but that there are no middlemen and no rebates for insurance companies. 

"Everybody gets the same low price for every drug we make," the company website states. 

The first drug it will produce is albendazole, an antiparasitic drug. The company is hoping to introduce more than 100 drugs by the end of 2021, as well as build a pharmaceutical factory in Dallas by 2022. 

The Mark Cuban Cost Plus Drug Company has also partnered with Baylor College of Medicine in Houston to aid researchers in providing care for children with hookworm infection in rural Alabama.

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