Mark Cuban's next goals: Enter brand-name drugs market, accept insurance

As the team of 33 at Mark Cuban Cost Plus Drug Co. works to serve its 1.3 million customers, Mr. Cuban told Time his planned next steps for the company that looks to disrupt the $1.4 trillion pharmaceutical industry. 

Since its launch in January, Cost Plus Drug Co. has gone from selling 100 drugs to about 1,000 — some of which cost more than 90 percent less than the market price — but it has yet to break into larger pieces of the market, such as brand-name drugs. In October, the company partnered with its first payer, Capital Blue Cross, and Mr. Cuban said he expects to take more insurance plans in 2023. 

Cost Plus Drug Co. takes a $3 pharmacy dispensing fee, $5 shipping fee and a 15 percent profit margin for each order. Some customers have called it a "game changer," but high demand for the offered generics could be causing supply hiccups, Time reported Nov. 17.  

Having brand-name products enter the fold and its own drug manufacturing plant in Dallas are on the horizon, according to Mr. Cuban. 

Overall, Mr. Cuban said he's working "to f–k things up," he told Time. "That's what capitalism is all about. Capitalism isn't just, 'Everybody should make as much money as they can.' Capitalism is about finding solutions to problems and seeing what you can do to solve them."

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars