DALLAS† 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 their Pharmacy Benefit Manager (PBM) was founded [www.costpluspbm.com] – both critical efforts in the company’s drive to protect consumers from overpriced drug prices.
According to an September 2021 Gallup Poll, 18 Million Americans Recently Couldn’t Pay
at least one prescription drug for their household because of the ever-rising costs, and 1 in 10 Americans skipped doses to save money. The pharmacy’s launch is the first critical milestone in making affordable medicines available to millions of people.
Notable drugs that epitomize the pharmacy’s notable savings include:
- Imatinib – leukemia treatment
- Selling price: $9,657 per month
- Lowest price with joint voucher: $120 per month
- MCCPDC Price: $47 per month
- Mesalamine – treatment of ulcerative colitis
- Selling price: $940 per month
- Lowest price with joint voucher: $102 per month
- MCCPDC Price: $32.40 per month
- Colchicine – Gout Treatment
- Selling price: $182 per month
- Lowest price with joint voucher: $32 per month
- MCCPDC Price: $8.70 per month
“We will do everything we can to get affordable medicines for patients,” 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 that we take action and help expand access to these drugs to those who need them most.”
As a registered pharmaceutical wholesaler, MCCPDC is able to bypass middlemen and excessive price increases. Pharmacy prices reflect the manufacturer’s actual prices plus a 15% flat margin and pharmacy fees. With the help of Truepill, the digital healthcare company, patients can expect a seamless, secure e-commerce experience as they navigate the pharmacy’s website, built and powered by Truepill’s digital health platform. Patients will also enjoy reliable prescription fulfillment and delivery through Truepill’s nationwide pharmacy footprint.
Because the company refuses to pay installment prices to outside PPE to process insurance claims, the online pharmacy will be a cash payment. However, the model means that patients can immediately purchase a wide variety of medications at prices often lower than what most deductible and copay insurance plans would cost.
In Nov 2021 MCCPDC entered the PPE industry to serve companies that provide prescription coverage in their employee benefits plans. MCCPDC has pledged to be “radically transparent” in its own negotiations with drug companies as a PBM, expose the true costs it pays for drugs and eliminate staggered pricing and misaligned discount incentives. MCCPDC expects its PPE to save companies millions of dollars with no changes in benefits, depending on the size of the employer, as the traditional PPE model will eliminate. The company plans to integrate its pharmacy and wholesale business with its PBM so that any business using its PPE can access wholesale prices through its online pharmacy.
“There are plenty of bad actors in the pharmaceutical supply chain that prevent patients from getting affordable drugs,” Oshmyansky said. “The only way to make sure affordable prices come through is to integrate vertically.”
About Mark Cuban Cost Plus Drug Company
The Mark Cuban Cost Plus Drug Company aims to fundamentally change the way the pharmaceutical industry works. As a public benefit company, its social mission to improve public health is just as important as the end result. The company transparently charges a standard fee on every drug it sells. With the launch of the first inventory of 100 affordable generics from its online pharmacy in January 2022establishment as a vertically integrated benefit manager for pharmacies and construction of a state-of-the-art pharmaceutical factory in Dallas The company is scheduled to open by the end of 2022 and is well on its way to making medicines affordable for everyone.
Media contact: Bishop Wash | (972) 854-1586 | [email protected]
SOURCE Highlight Cuban Cost Plus Drug Company