- Mark Cuban Cost Plus Drug Company claims to provide complete transparency about costs starting from production to drug delivery
- The company claims that currently, its pharmacy has more than 150 'highly utilized' and most 'high-cost' generic medications
- MCCPDC is set to launch its 22,000 square-foot manufacturing facility in Dallas, Texas, in Q4 2022
Mark Cuban Cost Plus Drug Company (MCCPDC) has gained attention since its inception by aiming to make drug medications affordable for Americans. In an official letter, billionaire entrepreneur Mark Cuban said that every American should have access to safe pharmaceutical drugs at affordable prices to stay healthy, a key reason behind the foundation of Mark Cuban Cost Plus Drug Company.
This start-up led by Mark Cuban could draw some interest amid growing health concerns worldwide. Hence, this article by Kalkine Media® discusses Mark Cuban Cost Plus Drug Company, how it works, and whether it is planning for an initial public offering (IPO) or not.
What should you know about Mark Cuban Cost Plus Drug Company?
MCCPDC is a public-benefit corporation (PCB) focused on redefining the supply chain system in the pharmaceutical industry by offering prescription drugs at fair prices to improve public health. The start-up claims to provide complete transparency about costs, from production to drug delivery, so that patients know they are getting prescriptions at fair prices.
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According to the MCCPDC website, it is a licensed drug wholesaler across the country with supplier pricing and fixed markup of 15 per cent. Under its wholesale business, the low-cost drug seller negotiates terms with producers and supplies all pharmaceutical drugs to its Cost Plus Drug Pharmacy. Mark Cuban’s company also stated to increase its buying power and minimize acquisition costs, and with this, it will plan sponsors instead of passing discounts directly to patients.
Cost Plus Drugs online store delivers prescription drugs at cost plus a fixed margin of 15 per cent. Prescriptions are filled by its URAC Mail and Speciality accredited facilities and then shipped to patients sitting anywhere within the country. Consumers directly or via employer-sponsored programs can avail themselves of online drug delivery services.
Mark Cuban Cost Plus Drug Company also claims that currently, its pharmacy has more than 150 ‘highly utilized’ and most ‘high-cost’ generic medications. The company wants to increase this figure to more than 1,500 generic medications in the coming six months.
Mark Cuban Cost Plus Drug Company is also set to launch its 22,000 square-foot manufacturing facility in Dallas by this year's fourth quarter. The company said that this facility will be equipped with aseptic robotic filing lines and will manufacture injectable medications and items on the Food and Drug Administration (FDA) Drug Shortage list at ‘lowest’ possible cost. This facility is said to be designed to respond immediately to drug shortages and price pressure.
Is Mark Cuban Cost Plus Drug Company planning for an IPO?
The company has not revealed any plans of going public or IPO or given the public any other option to invest in. Hence, investors interested in this Mark Cuban-led drug seller will have to wait for such official announcement.
Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.