Mark Cuban venture partners with Price.com
The two companies will provide consumers with a platform where they can compare drug prices.
© Vitalii - stock.adobe.com
Mark Cuban’s at it again.
The businessman’s pharmaceutical company, Cost Plus Drugs, is partnering with Price.com to build a platform where consumers can compare drug prices. According to a press release from Price.com, the goal of the platform is to make prescription drugs more affordable to the people who need them. By being able to compare drug prices, users will be able to find the most affordable sources.
In a press release, Mark Cuban Cost Plus Drug Company CEO Alex Oshmyansky said, “We are thrilled to collaborate with Price.com in our mission to make prescription drugs more affordable for consumers. At Cost Plus Drugs, our commitment to transparent drug pricing has always been unwavering, and with Price.com, we are dedicated to providing affordable and accessible healthcare solutions for all."
In the same press release, Price.com CEO and founder RJ Jain also said, “Teaming up with Mark Cuban Cost Plus Drug Company is a pivotal step towards achieving our shared goal of improving healthcare affordability and accessibility. Thanks to this collaboration, Price.com users can make informed choices that best suit their health and financial needs."
This is just the latest move Cuban’s company has made towards increasing its prominence in the pharmaceutical landscape.
In mid-March, Cost Plus Drug Company announced that it had teamed up with Provell Pharmaceuticals to provide patients with direct access to Euthyrox, a leading hypothyroid drug. The goal of this partnership is— similarly to the company’s partnership with Price.com—to provide the drug at affordable prices.
According to a press release from Provell Pharmaceuticals, Euthyrox is one of the most prescribed drugs worldwide.
In the press release, Provell Pharmaceuticals CEO Steve Hodge said, “Our mission is to remove the cost barrier for millions of Americans, regardless of insurance coverage, who need quality medications but who often cannot afford them due to markups imposed by a variety of players in the US healthcare landscape. By working directly with online platforms such as Cost Plus Drugs, which shares our vision to make drugs affordable and accessible to all, we are disrupting the traditional model and conferring significant savings to patients."
In the same press release, Oshmyansky added, “Drug prices continue to rise exponentially, and it's an unsustainable trend that is extracting a huge toll on the health and well-being of many Americans. We've developed an alternative model–and are partnering with like-minded companies such as Provell Pharmaceuticals—to offer prescription drugs directly to consumers at a fraction of the cost by showing consumers exactly what the drugs cost, exactly what our margin is, and exactly what consumers will pay. It's fair, transparent, and is dramatically less expensive for patients."
