Mark Cuban launches online pharma website, cuts high prices

American businessman and billionaire, Mark Cuban has launched his own online drugstore by the name of Mark Cuban Cost Plus Drug Company, reports the PBS. Cuban is also the owner of the US basketball team Dallas Mavericks. He was part of the Shark Tank as well.

His company sells more than 100 generic pharmaceuticals at low prices. “The goal is to be the low – cost provider for all drugs, period, end of story,” Cuban told CNN earlier this month.

The anti parasite drug albendazole, has been reduced from $438 to $33 per dose; the leukemia “miracle drug” imatinib (the generic form of Gleevec), has been reduced from $9,657 for a month’s supply of 400 mg pills to $47.10, the reports are presented by The Independent UK.

“The one industry where people say every minute of every day, ‘we need lower prices’ – this is it. We’ll just have that very singular mission. You’re not going to see us add bells and whistles,” Mark Cuban said.

“As an entrepreneur, anytime I see an industry that’s been run the same way for decades, if not generations, and its been obfuscated to the point where there’s no transparency, and you have associations trying to protect that opaqueness, to me that’s an opportunity. And that’s exactly what we saw with the prescription drug industry,” he told PBS in an exclusive interview.