- Mark Cuban Cost Plus Drug Company launched a new digital marketplace in 2022 to help people find their medications at lower prices.
- Mark Cuban Cost Plus Drug Company looks to focus on providing medicines to treat diseases like cancer, heart problems, and mental health.
- Mark Cuban, is a celebrity investor and has never failed to attract people's attention.
American billionaire entrepreneur, Mark Cuban, is a celebrity investor and has never failed to attract people's attention ever since he started appearing on the famous TV show 'Shark Tank'.
In 2022, Mr Cuban has attracted investors' attention who want to invest in the newly launched Mark Cuban Cost Plus Drug Company (MCCPDC). The Shark Tank investor and his partners created the MCCPDC as a public-benefit company and online pharmacy that provides people with lower-cost drugs.
According to some published reports, California is entering the prescription medication market, seeking to accomplish something no other state has done before: producing its brand of generic insulin and selling it at below-market pricing.
The state has reportedly contacted the MCCPDC for discussions, which could have renewed potential investors' interest.
What is Mark Cuban Cost Plus Drug Company?
The company quoted the 2021 Gallup poll in its official statement and revealed that 18 million Americans could not afford at least one prescription medication due to ever-rising costs.
In addition, it noted that at least one in 10 Americans skipped doses of their prescribed medicines to save money.
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Mark Cuban Cost Plus Drug Company aims to address this issue, and its online pharmacy is said to be one of the first milestones to enable Americans to access affordable medications.
The Dallas-based company will focus on providing medicines to treat diseases like cancer, heart problems, mental health, and gastrointestinal issues, among others.
For example, the company claims that a drug named Imatinib (used for the treatment of leukaemia) has a retail price of US$ 9,657 per month, and its lowest price with a common voucher is US$ 120 per month.
However, the MCCPDC price for Imatinib will be US$ 47 per month.
Mark Cuban Cost Plus Drug Company has not announced any IPO plans as of now, making it a private company.
Hence, retail investors will not be able to buy MCCPDC stock yet, and may have to wait for the company to go public.
As per the official statement, the company is looking to change the way the pharmaceutical industry functions and is looking to improve the public health industry.
Mark Cuban Cost Plus Drug Company said that it will offer 100 affordable generic drugs through its online pharmacy, and its inventory could expand in future.