People Are Saving Thousands of Dollars on Prescriptions With This New Low-Cost Pharmacy

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Mark Cuban is well known as a successful tech entrepreneur, shark tank investor and as owner of the Dallas Mavericks. Now the self-made billionaire has launched an online pharmacy called Cost Plus Drugs. His pharmacy claims to offer lower prices for prescription drugs. How weak? According to a recent report from the Annals of Internal Medicine, researchers say Medicare could save $3.6 billion a year if it purchased drugs through the Cuban Pharmacy.

How Mark Cuban’s Pharmacy Offers Low Prices

According to its website, each drug sold “carries the same price: our cost plus 15%, plus pharmacy fees, if any.” As an example, the site compares its costs to the hookworm drug Albendazole, which can cost up to $500 per course. Cost Plus Drugs cost for albendazole is $26.08 per course. After marking that price up by 15% and adding the $3 pharmacy fee, the same drug costs $33, almost 93% less than its competitors.

Cuban said on Twitter that his company doesn’t spend “a penny on advertising” and “relies entirely on word of mouth.” This is what allows them to offer low prices on over 100 prescription drugs. In a press release, the company said its direct-to-consumer model and status as a pharmaceutical wholesaler allow it to offer lower prices.

“As a registered pharmaceutical wholesaler, Mark Cuban Cost Plus Drug Company (MCCPDC) can bypass middlemen and outrageous markups,” the press release reads. “Because the company refuses to pay tiered prices to third-party pharmacy benefit managers (PBMs)…patients can immediately purchase a wide range of drugs at prices that are often lower than what the deductible and co-payment requirements would total. most insurance plans.” While the federal government could save billions through Cuban Pharmacy, regular consumers can see thousands of dollars in savings annually.

Mark Cuban reacts to people raving about his pharmacy

Since launching its online pharmacy in January, customers have commented on how much they have saved. Kim Kardashian tweeted that the Cuban Pharmacy “…is probably the most amazing thing ever!!” One user tweeted “I just paid $17.00 for a 90 day supply of an rx that would have cost me $360 for a 30 day supply with a national chain. When I spoke to Doc from @ costplusdrugs, she was blown away! She said it would be life changing for many patients.”

Another added “Thank you Mark Cuban for bringing my prescriptions down to $30 from nearly $400.” In response to dozens of tweets like these thanking Cuban for pharmacy, he replied, “Glad costplusdrugs.com can help! We are just getting started and we still have a long way to go! Cuban in another tweet said, “And for those looking to save money on their medications, even if you have co-pay, please sign up at costplusdrugs.com. If we don’t carry what you have need, we are working hard to add it to.”

CEO and Founder Alex Oshmyansky said in an interview that more than 400,000 people have created accounts with Mark Cuban’s Cost Plus Drugs pharmacy. Half of them bought prescriptions through the company’s online mail-order pharmacy. With inflation at its highest level in 40 years and an officially bearish stock market, consumers can benefit from prescription drugs at lower costs.

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