Mark Cuban Cost Plus Drug Co. in Dallas officially launched its online pharmacy.
The site features about 100 prescriptions that address issues that range from asthma to cancer, a statement said. The prices for the generics are posted next to the “retail price” for the medicines on the website.
The company had a soft launch around November, and the response has been positive, according to CEO Alex Oshmyansky.
“It's been fantastic,” Oshmyansky said in an interview. “People seem very enthusiastic."
The pharmacy’s prices reflect “actual manufacturer prices” plus a flat 15% margin and pharmacist fee, the statement said.
One leukemia treatment has a "retail price" of more than $9,000 per month, and the lowest price with a common voucher is $120 per month, the company said in the statement. But with Mark Cuban Cost Plus Drug, it's $47.
The company is working on a pharmaceutical factory in Dallas that’s slated for completion later this year. According to plans submitted to the state, the $11 million facility covers 22,000 square feet and is described as “demo and new construction” on an existing footprint on South Watson Street. Oshmyansky said the Deep Ellum site could be operational by late third quarter or early fourth quarter.
The launch comes after the company's pharmacy benefit manager (PBM) operation was established. It serves companies providing prescription coverage in their employee benefit plans. Pharmacy Benefit Managers, or PBMs, are traditionally third-party organizations that act as intermediaries between insurance providers and pharmaceutical manufacturers but Mark Cuban Cost Plus Drug Co. said it will use the program to provide information on pricing directly to consumers.
The online pharmacy will be a cash pay venture, given the company refuses to pay spread prices to third-party PBMs and be allowed to process insurance claims. According to the company, folks using their service often can pay less than what most insurance plans' deductible and copay requirements would total.
The company gained attention in early 2021 as it began to use Cuban's name. The company started in July 2018 as Osh's Affordable Pharmaceuticals and four months later Cuban invested in the company. It subsequently rebranded and relocated to Dallas in late 2020 from Colorado.
