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Mark Cuban Wages War on Drug Prices (Twitter Loves Him for It)

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Mark Cuban Wages War on Drug Prices (Twitter Loves Him for It)

For decades, politicians—mostly Democrats—have tried to reform health care. This has largely failed because health care reform has always been a political issue. Once that happens, true progress becomes impossible due to the nature of American politics.

Few, even politicians, agree that the current system works, but little has changed. Barack Obama did get the Affordable Care Act (ACA) (often referred to as Obamacare), but that just expanded access to health care and didn’t address the underlying problem.

That leaves many Americans struggling with high drug prices forced to choose between paying for the medicines they need and other necessities. It’s not just a problem for people without health insurance, high drug prices can affect those who think they have good insurance.

This is a problem that politicians cannot solve. Enter “Shark Tank” panelist, Dallas Mavericks owner and outspoken billionaire Mark Cuban. Despite having no background in healthcare, Cubans have quietly offered an alternative to the U.S. healthcare system that politicians have been unable to address for decades.

Mark Cuban takes on Big Pharma, pharmacy

Instead of trying to generate political change, which is made more difficult in the current environment, Cuban used business logic to start his cost-plus drug company. Using a simple slogan: “No middlemen. No price game. Save big on drugs”, the billionaire’s company has a simple model: It buys large quantities of drugs that are in high demand , and then sold to customers at a 15% markup.

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“Every product we sell is priced exactly the same way, our cost plus 15% plus pharmacy fees, if any. When you get a drug from Cost Plus Drug Co., you will always know we are How come you pay for that price. As we grow and costs come down, we’ll always pass the savings on to you,” the company shares on its website.

Cuban found a problem and applied business logic to solve it. Ordinary people have no purchasing power or influence when it comes to buying medicines – they are at the mercy of pharmaceutical companies and pharmacies. Cost-plus essentially creates a buying group to lower prices, while the company’s fixed mark-up excludes the pharmacy as a middleman.

“We started the Mark Cuban Cost Plus Drug Company because every American should have access to safe, affordable medicines,” Cuban wrote in a letter on the company’s website. “If you don’t have insurance or have a high deductible plan, you know that even the most basic medications can cost a fortune. A lot of people are spending like crazy every month just to stay healthy. Anything No one in America deserves to suffer or suffer. Worse — because they can’t afford basic prescription drugs.”

Twitter likes Mark Cuban’s Cost Plus Drug Co.

Cuban tackles a problem that politicians have failed to address that affects real people. This has made him and his pharmaceutical company very popular on Twitter. Cost Plus also regularly tweets about how its prices compare to what people have traditionally paid for drugs.

This, along with other drug price changes, has been widely praised by customers and potential customers alike.

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