Billionaire Mark Cuban’s New Business Seeks To Cut Drug Costs


When it comes to slashing the notoriously high prescription drug prices in the United States, who better to haggle for you than a loud-mouthed NBA team owner best known for intimidation of referees and host a reality TV show?

It is Shark aquarium The shot of Dallas Mavericks star and owner Mark Cuban. He announced Monday that he was entering the market as the Pharmacy Benefits Manager (PMB), which negotiates with Big Pharma the cost of your blood pressure pills (you know, the ones you take because you’re so stressed. by the cost of your blood pressure pills).

thank you so much

The Mark Cuban Cost Plus Drug Company – yes that’s really the name – enters a sector dominated by three more familiar players: Caremark from CVS, Express Scripts from Cigna or OptumRx from UnitedHealth Group.

And these managers are in the hot seat: Several states, including Ohio, Oklahoma, Georgia, New Mexico, Kansas, Arkansas, and Mississippi, are investigating whether their pricing and discount practices are transparent.

To counter these concerns, the new Cuban company is committed to keeping its books crystal clear:

  • The company will provide full details of its operating costs to customers and give them 100% of the discounts it gets from drug manufacturers.
  • She’s also launching her own online pharmacy to sell 100 of the most commonly prescribed generic drugs, charging customers a 15% markup and $ 3 fee on top of what she negotiates directly with generic manufacturers.

“We have decided that the only way to get our medicines to the people who need them is to build a parallel supply chain where we control all the intermediary players and ensure the same level of transparency at all levels,” said Alex Oshmyansky, CEO of the company. , Recount The Wall Street Journal.

A shark lark: True to his reality TV form, Cuban enlisted Oshmyansky, a radiologist, to run the business after sending the billionaire a cold email with the idea of ​​PMB. Who knows, it might work just as well as it did in Cuban times spent a day managing a Dairy Queen.


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