The online pharmacy that was launched by Mark Cuban was widely and warmly accepted by the people as its cheaper price makes it readily available to the public, potentially saving billions already according to a Dallas Morning News article from June 21. They say,
“Medicare could have saved $3.6 billion in a single year if it had bought generic drugs from Mark Cuban’s online pharmacy, according to a Harvard University report.
In the report, published this week in Annals of Internal Medicine, researchers from Brigham’s and Women’s Hospital with the Harvard Medical School made major claims that Medicare wastes money in the way it buys drugs.
Their report estimates the annual Medicare Part D spending on 89 generic drugs is $9.6 billion under the current purchasing model, in which the government is prohibited from buying drugs directly from manufacturers.
“If Medicare purchased generic drugs in the maximum quantity supplied by [Mark Cuban Cost Plus Drug Co.], it could have saved $3.6 billion on 77 of 89 generic drugs,” reads the study, which notes the savings would come from cutting out drug distributors.
Meanwhile, Cuban has been entirely proud of the success of Cost Plus Drugs and thanks the public for its support since the company did not have to waste resources for advertising according to a People article from June 23 which reports,
“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.
In response, Cuban said: “Glad http://costplusdrugs.com can help! We are just getting started and have a long way to go!”
Currently, Cost Plus Drug is making efforts to build a headquarters and factory in Dallas in order to produce its own generic drugs that can help the country and the people with its incredibly low prices.