The startup that billionaire entrepreneur Mark Cuban co-founded to disrupt the pharmaceutical trade is transport the primary medication 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 strain drug, norepinephrine, to 10 hospitals in Texas and Pennsylvania.
Each medication face nationwide shortages and Price Plus started producing them at its Dallas facility final month, in keeping with Bloomberg. Epinephrine injections are at present in scarcity, in keeping with 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 drugs by its on-line pharmacy.
The startup has an formidable mission, to promote drugs safely and on the lowest doable value level, which it strives to perform with clear costs. In line with a letter Cuban wrote on the startup’s web site, each drug that the corporate sells is priced the identical manner: Price Plus takes the bottom value of the remedy that it has to pay, marks up the value by 15%, after which provides on the precise price that the pharmacy prices them to arrange the remedy.
So a drug like Albendazole, for instance, which treats ringworm and prices round $113 in keeping with Medication.com, could be $35 for purchasers by that pricing methodology 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 need to endure or worse – as a result of they can not afford fundamental prescription drugs.”
Price Plus additionally introduced on Tuesday that it could be partnering with Value.com to combine its drug costs into Value.com’s AI comparability device.
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 develop to greater than a dozen cities by the top of 2024.
