Mark Cuban continues to push his pharmaceutical company -- and he’s targeting politicians to help him move it forward.
Cuban made a bipartisan call out on Twitter, asking President Joe Biden, senate minority leader Mitch McConnell, and senator Bernie Sanders whether they were interested in improving accessibility to medication in the United States.
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“Hey @POTUS @LeaderMcConnell @BernieSanders , want to know how to cut the costs of medications ?” Cuban’s tweet read while quote-tweeting his company, Mark Cuban Cost Plus Drugs.
Cost Plus Drugs has been challenging major drug retailers by severely cutting the cost of medication. Its website says it’s able to cut costs by removing the “pharmacy middlemen” which causes the raise in prices between the manufacturer and retailer.
Cuban went on The Daily Show in September and mentioned that Cost Plus Drugs also wants to gain the trust of its customers because “no one trusts the drug industry.” His company does this by showing the calculation of what each person is paying for: Cost of the drug + 15% mark-up + $3 for labor + $5 for shipping. This formula can be found on the company’s website.
Cost Plus Drugs also cuts down on marketing in order to drive down costs, but given Cuban’s following and influence, he’s become his company’s biggest endorser. And now he’s using his platform to call out the government.
The reason being is that the government could work with Cuban to improve accessibility to drugs. In 2020, a study showed that Medicare could have saved $4 billion by purchasing from Cost Plus Drugs.
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