Mark Cuban Price Plus On-line Pharmacy Sends Meds To Hospitals

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The startup that billionaire entrepreneur Mark Cuban co-founded to disrupt the pharmaceutical business is delivery the primary medicine it manufactured to 2 hospitals that want them.

Bloomberg reported that beginning Wednesday, Mark Cuban Price Plus Drug Co. is sending out its first batch of allergy remedy, epinephrine, and blood stress drug, norepinephrine, to 10 hospitals in Texas and Pennsylvania.

Each medicine face nationwide shortages and Price Plus started producing them at its Dallas facility final month, based on Bloomberg. Epinephrine injections are at present in scarcity, based on the FDA drug shortages database on the time of writing.

Mark Cuban. Picture credit score: Bing Guan/Bloomberg through Getty Photos

Price Plus, which Cuban co-founded with radiologist Alex Oshmyansky, launched in January 2022 and now delivers greater than 2,300 prescription medicines by its on-line pharmacy.

Associated: ‘I Was Younger and Ought to Have Recognized It’: Mark Cuban Says This Is the 1 Factor He’d ‘Do In a different way’ in Life

The startup has an formidable mission, to promote medicines safely and on the lowest attainable worth level, which it strives to perform with clear costs. In keeping with a letter Cuban wrote on the startup’s web site, each drug that the corporate sells is priced the identical approach: Price Plus takes the bottom worth of the remedy that it has to pay, marks up the worth by 15%, after which provides on the precise value that the pharmacy prices them to organize the remedy.

So a drug like Albendazole, for instance, which treats ringworm and prices round $113 based on Medicine.com, could be $35 for purchasers by that pricing technique with Price Plus, as per the letter. Cuban wrote that the associated fee the startup needed to pay for the remedy was $26.08.

“Many individuals are spending loopy quantities of cash every month simply to remain wholesome,” Cuban wrote. “No American ought to must endure or worse – as a result of they can not afford primary prescription medicines.”

Price Plus additionally introduced on Tuesday that it could be partnering with Worth.com to combine its drug costs into Worth.com’s AI comparability instrument.

Prospects who use Price Plus can decide to select up prescriptions at 5,000 affiliated pharmacies throughout the nation as of final month or decide for pickup at 2,000 Kroger grocery shops as of July of final yr.

Amazon Pharmacy is one other direct-to-consumer on-line pharmacy platform that not too long ago introduced same-day supply in New York Metropolis and Los Angeles, with plans to increase to greater than a dozen cities by the tip of 2024.

Associated: ‘Do not Comply with Your Ardour’: Mark Cuban Shares the ‘Worst Piece’ of Enterprise Recommendation He is Ever Acquired

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