Mark Cuban is an American billionaire businessman, film producer, investor, and television personality. Recently, he has been focusing on Cost Plus Drugs, a public benefit corporation he started in January 2022 with Dr. Alex Oshmyansky. The company aims to lower prescription drug prices by selling generic drugs with a flat 15% markup (plus $8 for shipping and fees). Cost Plus Drugs has already booked at least $25 million in sales from its more than 1 million customers. The company has since doubled its customer base to over 2 million and forged new partnerships with pharmacies at major grocery store chains and health plans.
The PBM space has attracted more and more big names. Competition in the generic drug market is growing, with healthcare insurance giant Cigna Group announcing plans to start selling drugs using a “cost plus” model similar to Cuban’s firm.
Cuban remains closely involved with Cost Plus Drugs, and he was recently listed as one of seven co-authors on a study that found significant price disparities for services offered by a sampling of 60 hospitals depending on how patients asked for price information.
4C Digital Health is closely monitoring trends in the healthcare space. Stay tuned for more updates.
Find out more about how this billionaire is shaking up the industry in this Forbes article:
McEvoy, Jemima. “The Real Reason Mark Cuban Is Exiting Shark Tank–and Maybe the Mavericks.” Forbes, Forbes Magazine, 29 Nov. 2023, www.forbes.com/sites/jemimamcevoy/2023/11/29/the-real-reason-mark-cuban-is-exiting-shark-tankand-maybe-the-mavericks.