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The startup co-founded by billionaire entrepreneur Mark Cuban to disrupt the pharmaceutical industry is shipping its first drugs to two hospitals that need them.
Bloomberg It was reported that starting Wednesday, Mark Cuban Cost Plus Drug Co. will be sending… The first batch of allergy medications, epinephrine, blood pressure medications, and norepinephrine to 10 hospitals in Texas and Pennsylvania.
Both drugs are facing a nationwide shortage, and Cost Plus began producing them at its Dallas facility last month, according to Bloomberg. According to FDA drug shortage database At the time of writing.
Mark Cuban. Image source: Peng Guan/Bloomberg via Getty Images
Cost Plus, which Cuban co-founded with radiologist Alex Oshmyansky, launched in January 2022 and now offers more than 2,300 prescription medications through its online pharmacy.
Related: ‘I was young and should have known that’: Mark Cuban says this is the only thing he ‘does differently’ in life
The startup has an ambitious mission to sell medicines safely and at the lowest possible price, which it strives to achieve with transparent prices. according to letter Every drug the company sells is priced the same way: Cost Plus takes the base price of the drug they have to pay, increases the price by 15%, then adds the actual cost that the pharmacy charges them to prepare the drug, Cuban wrote on the startup’s website.
So a drug like albendazole, for example, that treats ringworm and is priced at about $113 drugs.com, will be $35 for customers through this pricing method with Cost Plus, according to the letter. The cost the startup had to pay for the drug was $26.08, Cuban wrote.
“Many people spend huge sums of money every month just to stay healthy,” Cuban wrote. “No American should have to suffer or worse — because they can’t afford essential medications.”
Cost is a plus too Announce On Tuesday it will partner with Price.com to integrate its drug prices into Price.com’s artificial intelligence comparison tool.
Customers using Cost Plus can choose to pick up prescriptions at 5,000 affiliated pharmacies nationwide as of Last month or He chooses, decides For pickup at 2,000 Kroger grocery stores as of July From last year.
Amazon Pharmacy is another direct-to-consumer online pharmacy platform Recently announced Same-day delivery in New York City and Los Angeles, with plans to expand to more than a dozen cities by the end of 2024.
Related: ‘Don’t follow your passion’: Mark Cuban shares ‘the worst business advice he’s ever received’
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