“As far as the process, we choose drugs that we can offer at a price that is lower than what is out there already,” Cuban added. “It’s like any business.”
“We will add them as quickly as we can,” Cuban tweeted of medications not initially included on the marketplace. And he noted that MCCPDC is “building a plant in Dallas so that we can do our own injectables, as well.”
As costs get lower so will prices. And the platform will stick to a 15% markup. “If others beat our pricing, we celebrate,” Cuban said on Twitter.
Competition and Trends
According to research studies done by Kaiser Family Foundation, 83% of adults say that the cost of prescription drugs is unreasonable. Additionally, 35% of survey respondents with a household income of $40,000 or less reported having difficulty affording their prescription drugs.
Cuban’s start-up is trying to mitigate drug costs by working both as a pharmacy benefits manager (PBM) and as a standard retailer. Cost Plus Drug expects to compete with CVS, Walgreens, and even Amazon in the crowded space.
