Mark Cuban is getting involved in generic drugs.
The Dallas Mavericks owner has attached his name to a company that will produce low-cost versions of expensive generic drugs. The Mark Cuban Cost Plus Drug Company pledges “to provide radical transparency” in how it prices its drugs.
The company will manufacture, distribute, and market its drugs to pharmacies and add a flat 15% margin to get wholesale prices.
The first drug to be produced is albendazole, an anti-parasitic pill that can retail for over $400 per tablet. The company plans to make and distribute the drug for about $13, charge $15 as a wholesale price and set a manufacturer’s suggested retail price of $20 per tablet, according to the company’s website.