By Sima Greenberg
On Monday, January 24, 2022, Mark Cuban launched his online pharmacy, which offers generic prescription drugs at very low prices. The company is called the Mark Cuban Cost Plus Drug Company (MCCDPC).
Cuban’s goal is to combat the high markups in the pharmaceutical industry and make sure people receive the medications they need at an affordable price. MCCPDC’s website cites Mark Cuban outlining the company’s goal, saying,, “Everyone should have safe, affordable medicines with transparent prices.” Following this motto, each drug has the same 15% markup from the manufacturer price plus a $3 pharmacist fee.
The startup sells affordable versions of expensive medications. As of now, they offer over 100 drugs treating a variety of serious health conditions including leukemia, diabetes, and heart conditions. In order to demonstrate the lower cost of MCCPDC’s drugs the website shows the regular retail price and the amount the customer is saving by purchasing through MCCPDC.
If this initiative becomes the new method in which medications are purchased, how will this affect pharmacies? Forbes wrote an article on how this might affect the pharmaceutical industry as a whole. One major limitation is that only generic drugs are included. Since MCCPDC doesn’t accept any insurance, these costs don’t count towards a deductible. The new system is only helpful for those without health insurance, giving the unfortunate a chance to receive the medical treatments they deserve.
An article in the Washington Post cited a study conducted by the Department of Health and Human Services that revealed that 3.5 million Medicare recipients struggle to pay their bills for prescription medications. Making these drugs and treatments accessible is lifesaving.
Mark Cuban’s online pharmacy is just one aspect in which American healthcare has been being revolutionized in recent years. Beginning with Telehealth during the COVID-19 pandemic, people were able to get appointments with a doctor through their insurance company all from the comfort of their home. These changes are breaking the barriers one step at a time and making medical treatment available to all.