Mark Cuban started a company that offers generic versions of medication at extremely low prices. A recent study calculated that Medicare could save billions with this business model.
Why it matters
Life-saving prescription drugs in the United States are often too expensive, especially for people without insurance.
Billionaire entrepreneur Mark Cuban’s new company, which is less than six months old, is selling hundreds of generic, commonly used medications with absolutely massive cost cuts. And I mean massive. Perusing the price tags will make your jaw drop.
The generic version of Actos — prescribed for patients with diabetes and typically sold for $74.40 at standard pharmacies — is available for $6.60, according to the website. The generic version of Apriso — prescribed for patients with gastrointestinal disease and sold for $122.70 at standard pharmacies — goes for $36.60.
And that’s just a snippet. The medication ledger of the Mark Cuban Cost Plus Drug Company (yes, that’s the full name) is long. The drugs treat conditions ranging from mild migraines to acid reflux to cancer to neurological disorders. It also sells the generic versions of a variety of mental health medications like Wellbutrin, used to treat depression, and Adapin, sometimes prescribed for anxiety.