Billionaire financier Mark Cuban introduced an online drug store that provides more than 100 generic drugs at a budget-friendly cost with an objective of being “significantly transparent” in its rate settlements with drug business. The Mark Cuban Cost Plus Drugs Company (MCCPDC) is a signed up pharmaceutical wholesaler and purchases drugs straight from makers, bypassing intermediaries to decrease the cost of more than 100 medications, it stated in a declaration. The leukemia drug imatinib is priced at $47 a month on MCCPDC compared to the $9,657 retail rate.
The online drug store’s rates for generics consider a 15% margin on top of real producer costs and a $3 pharmacist cost, the declaration stated. The markup on generics balance “a minimum of” 100%, the MCCPDC stated, while the Wall Street Journal reports sometimes it surpasses 1,000%.
The business does not procedure insurance coverage claims and needs consumers to spend for their medications expense, noting its drugs cost less than many insurance coverage strategies’ deductible and copay requirements. Consumers need to ask for a brand-new prescription from their supplier to position an order for medications on the MCCPDC site.
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