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Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

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Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

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Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
HealthMark Cuban

Mark Cuban opens his own online pharmacy

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
January 20, 2022, 11:05 AM ET

Mark Cuban has added another title to his multi-hyphenate résumé: drugstore owner.

The entrepreneur–Dallas Mavericks owner–Shark Tank host–crypto enthusiast has launched the Mark Cuban Cost Plus Drug Company, an online pharmacy that promises lower prices on over 100 medications, including ones commonly prescribed for high cholesterol and hypertension.

To lower costs, Cuban cut out the middleman, setting up his own pharmaceutical wholesaler and negotiating directly with drug manufacturers and pharmacies for rebates and discounts. It sells the drugs at a 15% markup and an added $3 pharmacist fee. Shipping is $5.

Among the discounted drugs is mesalamine, which treats ulcerative colitis. Normally, that retails for $940 per month, which falls as low as $102 per month with vouchers. Cuban Cost Plus will sell it for $32.40 per month. Atorvastatin (a generic version of cholesterol medicine Lipitor) generally sells for $55.08, but will cost $3.60 on Cuban Cost Plus, the company website said.

“There are numerous bad actors in the pharmaceutical supply chain preventing patients from getting affordable medicines,” said CEO Alex Oshmyansky in a statement. “The markup on potentially lifesaving drugs that people depend on is a problem that can’t be ignored. It is imperative that we take action and help expand access to these medications for those who need them most.”

The venture will not accept insurance payments at this time, requiring cash, but it claims its prices are still below what patients would pay with insurance at a typical pharmacy.

The online pharmacy, which stealth-launched under a different name in 2018, was sparked after so-called pharma bro Martin Shkreli dramatically raised the price of certain essential drugs and became a lightning rod for consumer ire over drug prices.

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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