Cheaper Drugs? Dallas Mavericks Owner Mark Cuban Says He Can Do It
Tired of medication prices?
When Congress can't bring us cheaper prescription medication, we can always count on Mark Cuban, who says he wants to help people fight back against inflated drug prices.
Deadspin.com is reporting that the billionaire owner of the Dallas Mavericks has launched the Mark Cuban Cost Plus Drug Company, an online pharmacy.
Cuban says he wants to offer his own brand to combat price gouging by the pharmaceutical companies.
The Rising Cost of Prescription Drugs
It's terrible to have to choose between eating and paying for needed medications, but it's a reality for a lot of people in America every day.
According to Gallup, last year 7% of adults said they could not pay for at least one doctor-prescribed medication for their household.
Among those in households earning less than $24,000 per year, however, the percentage has gone from 10% to 19% - a statistically significant increase.
Even among higher-income households earning over $90,000, 7% of respondents report having skipped a pill in the prior 12 months.
How it Works
The Mark Cuban Cost Plus Drugs Company is a registered pharmaceutical wholesaler and purchases drugs directly from manufacturers, bypassing middlemen to lower the price of more than 100 medications.
The company doesn’t process insurance claims, and customers have to pay for their medications out of pocket.
These drugs will be purchased directly from the manufacturers and sold online with a 15 percent markup across the board and a small pharmacist fee.
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