Shark investor Mark Cuban has made plenty of waves over the course of his multibillion-dollar career, but most recently he's launched a successful excursion into the generic drug trade:
People searching for cheaper alternatives to high priced prescription drugs have a new and perhaps unexpected option. It's an online pharmacy founded by Mark Cuban, a billionaire businessman, Shark Tank star and owner of the Dallas Mavericks. His new direct-to-consumer company, Cost Plus Drugs, offers more than 100 generic medications at discounted prices.
Is he having success? You'd better believe it—it's been such a success that it's making the federal government look like a total putz:
The United States government could save billions of healthcare dollars if it purchased generic drugs at the prices offered by Mark Cuban's new online pharmacy that was launched this year.
In a comparison between Medicare's spending in 2020 and the prices of Cuban's Cost Plus Drug Company, researchers found that Medicare could have saved $3.6 billion, according to new research from Brigham and Women's Hospital and Harvard Medical School published Monday in the journal Annals of Internal Medicine.
Dr. Hussain Saleem Lalani, a researcher at Brigham and Women's Hospital in Boston and the study's lead author, said that the study "does show that Medicare is overpaying for some of the generic drugs."
"This is a conservative estimate, so the actual savings are likely higher," Lalani added.
The federal government to Mark Cuban right now:
Meanwhile, people haven't been shy about celebrating the amount of money they're saving by opting for Cost Plus instead of a traditional pharmacy:
Saving people money, getting people life-saving medicine, and making Washington look clownish and inept? Well done, Mark Cuban, well done sir!
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