Billionaire financier Mark Cuban introduced an online drug store that provides more than 100 generic drugs at a cost effective cost with an objective of being “drastically transparent” in its cost 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 reduce the rate 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 charge, 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 a lot of insurance coverage strategies’ deductible and copay requirements. Consumers need to ask for a brand-new prescription from their service provider to put an order for medications on the MCCPDC site.
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