Mark Cuban launches online drug company with promise to offer competitively low pricing

Last week, billionaire investor and owner of the Dallas Mavericks, Mark Cuban, announced the launch of his own online prescription drug company, Mark Cuban Cost Plus Drug Company (MCCPDC).

The new online pharmacy joins several competitors in the web-based prescription-filling space, including Amazon Pharmacy and Ro, and promises to dramatically slash prescription drug costs for customers.

The site will cut prices by offering drugs to customers at “cost plus 15%” and cutting out the pharmaceutical  benefits managers (PBMs) that usually exist as middlemen between drug manufacturers and insurers and often drive up prices to the consumer. 

“Not everyone sets the goal of being the lowest cost producer and provider,” Cuban told Axios. “My goal is to make a profit while maximizing impact.” The pharmacy will fill and deliver prescriptions using the Truepill platform, and will only accept cash. The site does not accept insurance but promises lower prices than insurance companies can offer.

The site currently offers over 100 common prescription drugs for a variety of conditions including diabetes, heart problems, and asthma.

The company’s website states, “aims to fundamentally change the way the pharmaceutical industry operates. As a public-benefit corporation, its social mission of improving public health is just as important as the bottom line. The company transparently charges a standard markup on every drug it sells.”