How Mark Cuban Is Trying to Disrupt Big Pharma | WSJ

34

Mark Cuban’s drug company Cost Plus sells more than 200 generic medications, often at steep discounts to list prices. As drug prices remain out of reach for many Americans, Cuban is seeking to supply more affordable prescription drugs by removing insurance plans and healthcare industry middlemen, known as pharmacy benefit managers.

In an interview with WSJ, billionaire investor Mark Cuban explains how his low-cost, online drug company works and the challenges it faces in a consolidated industry run by big pharma.

0:00 Mark Cuban’s goal
1:11 Drug supply chain and PBMs
3:48 Cost Plus
5:41 What’s next?

#Healthcare #MarkCuban #WSJ

source

RELATED ARTICLESMORE FROM AUTHOR

34 COMMENTS

  2. So my estrogen patch had reduced from 81 to 56 all last year then they went back up with my insurance its 114 but cash pay which they’re not allowed to tell you about is only 81 Dollars Highway robbery I pay out the nose for insurance for zero savings.

  3. I am still trying to wrap my head around how the cost difference between my old provider and CPD could be so different. Mark is literally saving me $100 per 90 day supply. The benefits managers must just be such a drain on the system. He’s doing us a public service with this company, since our “representatives” are so deep in the pockets of health care lobbyists. Would that there were a collaborative effort among healthcare providers to provide basic services for cash cheaper than the insurance price.

  9. I have lupus, and after losing my insurance after my divorce, I'm so glad that I found Mark Cuban's Cost Plus Drug Company. 4 out of 7 of my prescriptions are listed on the site and will save me thousands of dollars. One of my meds would have cost me $285 for a 90 day supply at my pharmacy, but I can get it from Cost Plus Pharmacy for $29.30 for a 90 day supply! What a blessing and a game changer! Thanks Mark!!

  10. Our domestic company supplies anti-cancer drugs-
    (Including formula, raw materials and semi-finished products). Your company will reproduce it and make it a more valuable product.

  11. Our domestic company supplies anti-cancer drugs-
    (Including formula, raw materials and semi-finished products). Your company will reproduce it and make it a more valuable product.

  12. Wow.. I was never sure if i liked Mark cuban or not. But i gotta say hearing this, definitely just made up my mind. He gets a big 👍 now…Someone should not live a shorter life or stay sick, because they cant afford the correct meds..

  16. US citizens are rich they don't need cheap generic medicines.
    They should use branded drugs.
    Note: its not my words, these are worlds by the CEO of Novartis when they lose a case in the Indian supreme court against evergreening of patient.

  20. This is a great idea. However there is a huge problem. That problem is when you need to refill this medication and it has expired on the cost plus sight. That next step is virtually impossible. I believe today I found one of the basic problems. It’s a very old problem the right hand doesn’t know what the left hand needs or is doing. Example when you need to refill the prescription and it doesn’t go through everyone you talk to seems to have a different list of the information that is needed. Example the people receiving the faxes will reject them for a number of reasons. This is exactly the problem no one has the same list of information needed. The fax people reject it if there’s no costumer (patient)email. No other group knows that except the fax people. Next a wet signature is needed people other than the fax people don’t even know what a wet signature is. The list goes on. The answer is fairly simple a blanket email to employees with a list of the necessary information a no frills memo step by step what’s called in the entertainment industry as a script.

  21. To really disrupt the pharma industry, Cuban will have to start a pharmaceutical company go through all the hula hoops of the FDA, spend on R&D and then bring new cost and competitive drugs to the market.

  22. Mark cannot be effective until he is supporting one arm of this cartel, that is, the government and opposing the other arm, that is, big pharma. The government already has a lot of roles. Have they ever heard of Obamacare, Medicaid and Medicare which have only made it worse. Cuban companies spend zero on R&D and people live in abject poverty because the government steals all their labor and incomes.

  24. How can anyone rightfully say pharmaceutical drugs , over-the-counter and prescription drugs, are safe and effective medicines and not drugs when they kill and give dangerous side effects. pharmaceutical drugs can and often do kill. FOOD IS OUR MEDICINE. The right foods for the right nutritional needs, the human body is a wonderful self repairing vessel . Drugs damage the body hoping to stimulate the bodies natural healing supposedly. Food gives the body nutrients needed to heal the body, without enough of the right nutrients the body will produce more receptors to try to gather more of the nutrients needed to heal and my become cancerous tumors if it can't find the nutrients it needs , but if the body is given the right nutrients from the right foods it will not only heal but also miraculously trigger apoptosis in the cancerous tumor cells produced by lack of nutrients or damage caused by pharma drugs.
    Rx=take ,
    pharma=poison
    Drugs= toxins that can and often do kill.

    Remember the Nuremberg trials ? They may need to happen again.

  29. anyone who had courage could have known EDLP pharmaceuticals was needed. but the timing is good because the last two presidents have started saying something about this on agendae

  31. I have severe adhd, and I’ve had to pay at least $150 per month out of pocket because my insurance doesn’t cover Vyvanse, cost plus doesn’t have it yet but if they do this’ll change my life

  32. It really surprises me how much the US charges for their medicine/health services, here in Mexico there are some places that kinda exaggerate on their medical services but the medicines are quite cheap if you know where to buy them

  33. Our entire Healthcare and pharmaceutical system is a fraud.. we do not have the best Healthcare system in the world although that is commonly and thoughtlessly said.
    The current system ONLY serves investors, insurance companies, PBM's, and Healthcare providers. The average person is completely priced out. Middle & lower class & people without insurance or plans paid by taxpayers are completely blacklisted from healthcare in the US.

Comments are closed.