Billionaire investor and Dallas Mavericks owner Mark Cuban announced Thursday the launch of an online pharmacy offering over 100 drugs at an “affordable price.”
The goal of the pharmacy, the Mark Cuban Cost Plus Drugs Company, is to be “radically transparent” regarding price negotiations with drug companies, according to a report.
The company will purchase its drugs straight from manufacturers to lower the prices of the medications, according to a statement.
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Imatinib, a leukemia drug, carries a retail price of $9,657 but can be purchased through the company for $47 a month, the report said.
“The pharmacy’s prices reflect actual manufacturer prices plus a flat 15% margin and pharmacist fee. With the help of digital healthcare company Truepill, patients can expect a seamless, secure e-commerce experience as they navigate the pharmacy’s website,” the statement read.
Insurance claims are not processed by the company, and customers are required to pay out of pocket for their medications.
Customers are also required to request prescriptions from their provider to order from the website, the report said.
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An $11 million, 22,000-square-foot Dallas factory for the company is planned to be completed by the end of 2022, according to the report.
