'Capitalism is about finding solutions to problems and seeing what you can do to solve them,' says Mark Cuban (mcuban). His new online pharmacy is a bid to bring benevolent disruption to an industry that charges steep markups
ark Cuban, the tech titan, Dallas Mavericks owner, and star of ABC’s, moves through the world like a friendly great white, all teeth and eyes and relentless motion. When we meet on an October morning at his office in the Mavericks’ headquarters, the serial entrepreneur, 64, is wearing a long-sleeved T-shirt advertising his last investment: Mark Cuban Cost Plus Drug Co.
Though Cuban won’t say exactly how much of the company he owns, he calls the new online pharmacy a win-win. If established pharmacies keep charging patients artificially high prices, Cost Plus may emerge as a popular low-cost alternative. If the industry slashes consumer prices to compete, he’ll have almost single-handedly brought reform to an industry that stubbornly resists it. “The incumbents could come along and copy us, get a heart, get a conscience,” Cuban says. “That would be OK.
The venture has a long way to go to upend the $1.4 trillion pharmaceutical industry. Cost Plus Drugs offers about 1,000 medications in the U.S.—a small fraction of the drugs available—and does not yet take most insurance, although Cuban says that will change in 2023. While some customers say Cost Plus has lowered their medical bills, it’s too early to tell whether the model can scale.
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