Billionaire investor Mark Cuban aims to reshape the drug industry with his latest venture, and now those using the service can pick up their medication through any of Cincinnati giant Kroger's pharmacies.
In a tweet July 19, Mark Cuban Cost Plus Drugs Co. announced its "Team Cuban Card" is now accepted at Kroger pharmacies nationwide. That opens up more than 2,200 locations in 35 states where customers can physically get their medications at the lower prices Cuban's company vows to offer.
Launched in 2022, Mark Cuban Cost Plus Drugs Co. provides transparency when it comes to manufacturing, distribution, and marketing of its drugs – something Cuban argues has long been missing in an industry worth more than $1 trillion in the U.S. alone. The company charges as close to cost as possible for its medications, plus 15% markup, a $3 pharmacy labor fee and a $5 shipping cost.
The company's portfolio includes more than 1,000 generic prescription drugs, according to its website.
In April, it launched its own pharmacy network, using Team Cuban Cards, to give customers the ability to physically go get their prescriptions. Previously, its drugs were only available by mail.
Kroger's pharmacies generated $13.4 billion in 2022 sales, or roughly 9% of the grocery chain's total sales, according to its most recent annual report. That report shows Kroger operated 2,252 pharmacies at the end of the 2022 – a number that could swell by more than 1,600 if Kroger's $24.6 billion acquisition of Albertsons Cos. receives regulatory approval.
Kroger ranks as Cincinnati's largest public company, with $148.3 billion in 2022 revenue, according to Business Courier research. The company operates nearly 2,800 stores in 35 states operating under 28 different names.
