In the last 30 days, Mark Cuban Cost Plus Drug Co. has spread its affiliate pharmacy network to 12 states and secured three partnerships.
Eight recent moves from the pharmaceutical company:
1. Cost Plus Drugs began a collaboration with Posterity Health, a male fertility business, on June 28. "By aligning with Cost Plus Drugs, males will have access to affordable and effective medications that treat infertility, sexual dysfunction and low testosterone," according to a news release.
2. The company has been working to become more appealing to health plans. At the AHIP 2023 conference, CEO and co-founder Alex Oshmyansky, MD, PhD, said customers' drug purchases could be applied toward a member's deductible if Cost Plus Drugs is affiliated with a pharmacy benefit manager or a health plan allows it.
3. Dr. Oshmyansky also said the upcoming drug manufacturing facility the company is building in Texas will include "low-cost versions of traditionally overpriced drugs," such as cancer drugs and the local anesthetic lidocaine — which have been in shortage for months. The plant is expected to open in late 2023.
4. Cost Plus Drugs proposed selling insulin in late 2022, but after multiple drugmakers slashed their insulin prices by about 70 percent, or to about $35 for a month's supply, Mark Cuban's company found there would not be a benefit to its customers because the list price would land at $65 with shipping and handling costs.
5. Its network of independent pharmacies grew from 80 locations in early June to 146 across 12 states as of June 28. By being an affiliate pharmacy, the businesses can use the "Team Cuban Card" to sell some drugs at Cost Plus Drugs' listed prices.
6. On June 6, the company told customers it partnered with Truepill and HealthDyne, two mail-order pharmacies.
7. Citing inflationary pressures, the company said it will raise its pharmacy labor fee from $3 to $5, effective Sept. 1.
8. Mr. Cuban's company will begin selling a Humira biosimilar in July. The drug, Yusimry, is the first biologic product Cost Plus Drugs will offer.