Mark Cuban started a company that offers generic versions of medications at extremely low prices.
A recent study calculated that Medicare could save billions with this business model.
Life-saving prescription drugs in the United States are often too expensive, especially for people without insurance.
And I mean massive.
And that’s just a snippet.
The drugs treat conditions ranging from mild migraines to acid reflux to cancer to neurological disorders.
Picked up 4 prescriptions yesterday, using GoodRX at Walgreens: almost $240.
Checked the price on CostPlus Drugs, $33.60 for all 4.
Retail price for all 4?
How is it possible to slash drug prices?
But at the end of the day, the cost of medication reflects its demand.
Checked Mark Cubans Cost Plus Drugs to see how much my prescriptions would be.
My monthly generic meds would be less than half the price of what my insurance charges me.
This could be a game changer.
Cost Plus Drugs has quite a different approach from the norm.
First, the company aims to remove all the elusive complexities behind drug manufacturing.
Second, it intends notto charge much more than manufacturing costs.
“Every product we sell is priced exactly the same way,” Cuban said in the mission statement.
“Our cost plus 15%, plus the pharmacy fee, if any.”
Add on the pharmacy fee of $3 and you get a grand total of $33.
That’s the final price, the company states, not including shipping.
In short, billions.
Minimum quantity referred to 30 count, and maximum to 90 count.
Then, the team looked up 2020 Medicare Part D spending for 89 of those 109 drugs.
Nevertheless, the study said, “our findings suggest that Medicare is overpaying for many generic drugs.”
