Social & Lifestyle

Billionaire Launches Drug Company To Offer Low-Cost Versions Of High-Cost Drugs

Billionaire Mark Cuban has launched a generic drug company called the Mark Cuban Cost Plus Drug Company.

The company says it is dedicated to producing low-cost versions of high-cost generic drugs and pledges to "provide radical transparency in how we price our drugs."

The Cost Plus company will publish the costs to manufacture, distribute and market its drugs to pharmacies.

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"We add a flat 15% margin to get our wholesale prices. This makes sure we remain viable and profitable. There are no hidden costs, no middlemen, no rebates only available to insurance companies. Everybody gets the same low price for every drug we make," the website states.

The first drug Cost Plus will produce is albendazole, an antiparasitic drug.

The company is hoping to introduce more than 100 drugs by the end of 2021, as well as build a pharmaceutical factory in Dallas by 2022.

"Our goal is that everyone should be able to afford their medicine," the company says.

"Everyone should know what it cost to make their medicine. Everyone should feel the price they paid for their medicine was fair."