- Source: Cost Plus Drugs
Mark Cuban Cost Plus Drug Company (MCCPDC), doing business as Cost Plus Drugs, is an American public benefit corporation with its main headquarters located in Dallas, Texas. The company is focused on the pharmacy distribution of drugs with a stated goal to lower the prices for generic drugs by removing middlemen and by moving to a cost-plus pricing strategy.
Origins and concept
The company was launched in January 2022. It was co-founded by radiologist Alex Oshmyansky and billionaire Mark Cuban. According to Cuban, in 2018, Oshmyansky contacted Cuban with an email titled "cold pitch" in which he asked Cuban to invest in a pharmacy he envisioned to manufacture generic drugs and skip the middleman wholesalers. The company has said that the intermediary layer of the pharmacy benefit managers is typically responsible for the heavy markup that drugs see between the manufacturers and the customers. The company uses Truepill Pharmacy's accredited pharmacists to fill prescriptions. Prices are direct to consumer, without any need or role for insurance.
Operations
As of February 2022, the company is in the process of constructing a 22,000-square-foot (2,000 m2) factory in Deep Ellum, Dallas, for the purpose of manufacturing drugs in-house, which is scheduled to open in the 4th Quarter of 2022.
As of June 2022, the company had a selection of over 100 generic drugs, and by March 2023, over 350 drugs were available. In December 2023, the company has over 2200 drugs available. The drugs are sold for a price equivalent to the company's cost plus 15% markup, a $5 pharmacy service fee, and a $5 shipping fee. As of October 2024 the company ships to all 50 US States.
Oshmyansky is the founder and CEO, and was still serving as CEO as of October 2024.
References
External links
Official website
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