The Mark Cuban Cost Plus Drugs Company is known for “cutting out the middleman” for nearly 2 million customers.
, the billionaire owner of the Dallas Mavericks and celebrity investor on ABC’sHe kept to his promise.
Mark Cuban talked with moderator Emily Ramshaw, co-founder and CEO of The 19th News, during the annual Dallas Regional Chamber meeting Jan. 17, 2023, at the Winspear Opera House in Dallas.has simplified things for nearly 2 million customers, Cuban told a packed crowd at the Dallas Regional Chamber’s 2023 annual meeting Tuesday. The only company Cuban has ever put his name on sells drugs at a flat 15% markup, a $3 pharmacist fee and a $5 fee for shipping.
“Sometimes disruption is just about simplifying,” he said. “The pharmaceutical industry has just morphed into a very complicated industry.” The company cuts out middlemen and negotiates directly with drug manufacturers and pharmacies for rebates and discounts on behalf of employers, health insurers and government health programs. He said Cost Plus has already signed deals with a few independent pharmacies in Dallas and other cities.It’s a method that could save money for even an NBA team like his Dallas Mavericks.
Mavs CEO Cynt Marshall compiled a list of the generic medications priced over $30 that the team bought in 2021 and 2022. The team spent $165,000. If the team had bought through Cost Plus, it would have cost $19,000, Cuban said.
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