Billionaire Mark Cuban has received widespread praise this weekend for selling low-cost prescription medicines through his start-up Cost Plus Drug Company launched earlier this year. Here are more details. @mcuban #costplusdrugs
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Cuban started the company with the tagline, "No middlemen. No price games. Huge drug saving." The firm purchases large quantities of high-demand pharmaceuticals and sells them to customers at a 15% markup, which is far lower than rivals' prices.
"When you get your medicine from Cost Plus Drug Co., you'll always know exactly how we arrived at the price you pay," he said adding that the company would pass savings to the buyers as and when costs decrease.
Cuban's drug company went viral on social media after several people talked about how much money they saved using the prescription drug website. Meanwhile, Cuban says the site only sells 100 drugs at the moment but they plan to expand to sell over a thousand drugs within a year.
"I just got a three-month supply of two of my prescriptions with shipping for a total of $20," said a Twitter user. "With insurance co-pay, I was paying $200 [for a three-month's supply] before." Another said, "My mom's monthly prescription is only $14 on there, down from $270."
As per its website, Cost Plus presently stocks over 700 generic medications manufactured by its supplier network. It has medicines for a wide range of chronic illnesses, from diabetes to cancer, hypertension & high cholesterol & problems from arthritis to allergies.
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