Billionaire Mark Cuban Reacts to Praise for Cheap Online Pharmacy: 'We Are Just Getting Started'
Mark Cuban's online pharmacy is already making a difference.
In January, the 63-year-old billionaire launched Mark Cuban Cost Plus Drug Company, an online pharmacy claiming to offer lower prescription drug prices.
In a recent report published in the Annals of Internal Medicine, researchers claimed that Medicare could save $3.6 billion per year if it purchased drugs through Cuban's pharmacy.
"If Medicare purchased generic drugs in the maximum quantity supplied by [MCCPDC], it could have saved $3.6 billion on 77 of 89 generic drugs," researchers said, according to theDallas Morning News.
In a press release, the company said it can provide savings to customers because it is registered as a pharmaceutical wholesaler, allowing it to bypass "outrageous markups."
On Twitter, Cuban said the company does not spend "a nickel" on advertising and is "completely relying on word of mouth."
"This allows us to price at such low prices. So all help is welcome from everyone and anyone!" Cuban wrote in a tweet on Saturday.
"Congrats @mcubanThis is saving so many people's lives," the 41-year-old tweeted.
Other customers have praised the pharmacy on social media as well.
"Thanks @mcuban for @costplusdrugs because instead of $25 for this month, I paid $10, including shipping!" one Twitter user wrote on Tuesday.
Added another: "Over a dozen family members & friends have saved so much by using @costplusdrugs. My elderly family members are especially grateful for the savings. For myself, even omeprazole is less than $5 - and so much less than OTC versions. It's legit a great service."
In response, Cuban said: "Glad http://costplusdrugs.com can help! We are just getting started and have a long way to go!"
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After its launch in January, the company said it has plans to build a pharmaceutical factory in Dallas, which is slated to be finished by the end of the year.
"The company is well on its way to making medication affordable for all," they said in their January press release.