They’ve been criticized for what critics say is a lack of transparency about the rebates they receive and for keeping a large portion of cost savings from consumers.Ĭuban’s company’s refusal to pay spread prices to third-party pharmacy benefit managers prohibits it from processing insurance claims. These middle managers are considered the quiet, lesser-known partner in the pharmaceutical model. Those are the people who manage prescription drug benefits on behalf of large employers, health insurers, and others. “My goal,” Cuban added, “is to make a profit while maximizing impact.”Ĭuban says Cost Plus Drug, which will compete with such pharmacy giants as Rite Aid, Walgreens Boots Alliance Inc., and CVS Health Corp., is organized to eliminate pharmacy benefit managers from the equation. “Not everyone sets the goal of being the lowest cost producer and provider,” Cuban told Axios. The Mark Cuban Cost Plus Drug Company will give consumers substantial discounts on various medicines, according to the company’s website. This time, he’s got his sights set on the cost of prescription drugs.Ĭuban, the billionaire investor, owner of the NBA’s Dallas Mavericks, and panelist on the television show “Shark Tank,” has launched an online pharmacy for generic medications. A consumer advocate points out, however, that the new online pharmacy so far has no limited options and doesn’t offer brand name drugs.
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