Experts in healthcare and the pharmaceutical industry have questioned Mark Cuban's ability to puncture high-priced medicines. In a 90-minute fireside chat with one of his critics, Mr. Cuban said his company has "truly changed the game."
Of the 2,200 medications Mark Cuban Cost Plus Drug Co. sells at a discounted price, about a dozen are branded — but brand-name drugs account for a majority of consumer costs.
Architect of the ACA and UPenn professor, Ezekiel Emanuel, MD, PhD, said the company would mitigate shortages but, with its small pool of branded medicines, generate minor cost reductions. Dr. Emanuel wrote the argument in a July STAT opinion piece.
The two recently met at a UPenn event to discuss pharmacy benefit managers, generic drug shortages and the pharmaceutical industry at large.
To answer the disruption power question, Mr. Cuban said several research teams have retroactively found CMS could have saved billions of dollars had it offered generic drugs under Cost Plus Drugs' prices. Since the company launched in 2022, Mr. Cuban has repeatedly promised to "f— up" the industry.
In an April 2023 interview with Becker's, Mr. Cuban said he hasn't accomplished the transformation yet, adding that his planned disruption would require Cost Plus Drugs to offer virtually all therapies.
Another disruption tactic is Cost Plus Drugs' $11 million drug manufacturing plant in Dallas, which is "capable of cranking out 2 million vials," Mr. Cuban said at the UPenn event.
The end goal isn't to make profit — it's to reduce PBMs' earnings, according to Cost Plus Drugs CEO and co-founder Alex Oshmyansky, MD, PhD. Mr. Cuban echoed these comments.
"If you look at the history of the supply chain, there are people who have come up with really good ideas that have had an impact, but then somebody comes in to buy them up and kill them," Mr. Cuban said. "Well, you know what? I don't need any more money. I'm rich as hell. So, I don't need to do this for more money. My joy comes from screwing the PBMs. Every one of these sales that we close [with drug] manufacturers is like a great day with the sun shining brightly for me."