The new date is Jan 20, 2022.
Mark Cuban, a billionaire investor, launched an online pharmacy Thursday that offers more than 100 generic drugs at an affordable price with a goal of being "radically transparent" in its price negotiations with drug companies.
Mark Cuban is in Santa Monica for the NBA Awards. Rich Fury poses for a picture.
The images are from the same company.
The Mark Cuban Cost Plus Drugs Company (MCCPDC) is a registered pharmaceutical wholesaler and purchases drugs directly from manufacturers to lower the price of more than 100 medications, it said in a statement.
The leukemia drug imatinib is priced at $47 a month on MCCPDC compared to the retail price.
The online pharmacy's prices for generics include a 15% margin on top of manufacturer prices and a $3 pharmacist fee.
The Wall Street Journal reports in some cases it exceeds 1,000%, while the MCCPDC says the average is at least 100%.
The company doesn't process insurance claims and requires customers to pay for their drugs out of pocket.
Customers have to request a new prescription from their provider to place an order on the website.
Cuban was reached out to by Alex Oshmyansky in a cold email with an idea for a low-cost generic drug company. They were motivated by Turing Pharmaceuticals CEO Martin Shrkeli raising the price of the life-saving drug Daraprim from $13.50 to $750 per tablet. Cuban told Forbes last year that the pricing for generic drugs was ridiculous. He said he put his name on the company to show that capitalism can be compassionate. It is not clear how much he invested in the company.
It's called Tangent.
The company hopes to finish construction of the Dallas pharmaceutical factory by the end of the year.
The number is big.
$4 billion. As of Thursday, Forbes estimated Cuban to be worth about $1 billion.
Mark Cuban has an online pharmacy.
Mark Cuban wants to lower drug prices.
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