Mark Cuban launches Prescription drug site

[bizlady]

In an effort to get costs under control for many generic drugs, Marck Cuban has launched a prescription drug site. Mostly generic drugs to start and does not accept insurance.

Not sure how prices compare as I do not have any prescriptions, but I think this is interesting. https://costplusdrugs.com/

 

[HF63]

I just check the price for Finasteride/ prostate at 4.50 for a 30 days supply.


I am saving this link!

 

[audreyh1]

I will be watching! Seems like a fairly smart successful guy who has been working on this problem for a very long time.

 

[Bamaman]

Very inexpensive source for common drugs.

Too bad they don't have one drug that retails for $515 a month--$115 my cost after Medicare pays.

 

[sengsational]

Looks good. I randomly selected 10 entries and compared to GoodRx pricing at a few local pharmacies.

Drug|Costco|C V S|Grocery
Entecavir (Generic for Baraclude)|

73%​

|

737%​

|

71%​

|
Diclofenac Sodium (Generic for Voltaren)|

91%​

|

137%​

|

99%​

|
Lovastatin (Generic for Mevacor)|

307%​

|

324%​

|

148%​

|
Metformin Extended Release (ER) (Generic for Glucophage XR)|

314%​

|

542%​

|

185%​

|
Ropinirole Extended Release (ER) (Generic for Requip XL)|

112%​

|

159%​

|

129%​

|
Losartan / HCTZ (Generic for Hyzaar)|

444%​

|

580%​

|

253%​

|
Azithromycin (Generic for Zithromax)|

89%​

|

135%​

|

94%​

|
Amoxicillin / Clavulanate (Generic for Augmentin)|

125%​

|

207%​

|

106%​

|
Clopidogrel (Generic for Plavix)|

196%​

|

598%​

|

224%​

|
Memantine (Generic for Namenda)|

281%​

|

1817%​

|

309%​

|

 

[Letj]

Doesn’t it seem weird that there’s no search function so you can’t query to see if they have your drug by name search without having to select a category?

 

[aja8888]

Doesn’t it seem weird that there’s no search function so you can’t query to see if they have your drug by name search without having to select a category?

I looked for two "Tier Three" drugs (Plan D, Medicare stuff) that my DW needs. Apparently, not carried.

 

[aja8888]

Looks good. I randomly selected 10 entries and compared to GoodRx pricing at a few local pharmacies.

Drug|Costco|C V S|Grocery
Entecavir (Generic for Baraclude)|

73%​

|

737%​

|

71%​

|
Diclofenac Sodium (Generic for Voltaren)|

91%​

|

137%​

|

99%​

|
Lovastatin (Generic for Mevacor)|

307%​

|

324%​

|

148%​

|
Metformin Extended Release (ER) (Generic for Glucophage XR)|

314%​

|

542%​

|

185%​

|
Ropinirole Extended Release (ER) (Generic for Requip XL)|

112%​

|

159%​

|

129%​

|
Losartan / HCTZ (Generic for Hyzaar)|

444%​

|

580%​

|

253%​

|
Azithromycin (Generic for Zithromax)|

89%​

|

135%​

|

94%​

|
Amoxicillin / Clavulanate (Generic for Augmentin)|

125%​

|

207%​

|

106%​

|
Clopidogrel (Generic for Plavix)|

196%​

|

598%​

|

224%​

|
Memantine (Generic for Namenda)|

281%​

|

1817%​

|

309%​

|

Maybe I am dense, but I don't understand the table compared to the Mark Cuban plan.

 

[Sunset]

Doesn’t it seem weird that there’s no search function so you can’t query to see if they have your drug by name search without having to select a category?

You can select "All Medications" , which is already selected for me by default.

Then either scroll down, or to search do "Ctrl F" (also called: Ctrl+F ) to bring up the browser search and search for the drug.

There are not a lot of drugs, I think he is aiming for the common ones, or the ones with greatest profit percentage.

 

[CincyDave]

Maybe I am dense, but I don't understand the table compared to the Mark Cuban plan.

Then color me dense as well.

 

[Midpack]

Hope he does better than Amazon. They were going to save us on a lot on prescriptions but “Amazon Pharmacy Boasts Big Discounts for Prescription Meds, but Probably Isn’t the Best Deal.”

 

[Car-Guy]

Limited number of meds at this time but it looks promising. Only a billionaire like Cuban could possibly take on big pharma, that is unless they decide to take him on or buy him out. Of course my suspicious nature makes me wonder if he's doing things like this to set himself up for a run at the top office.

 

[ncbill]

Where's the sildenafil & tadalafil?

 

[VanWinkle]

Then color me dense as well.

Make that 3 of us!!!

 

[sengsational]

Looks good. I randomly selected 10 entries and compared to GoodRx pricing at a few local pharmacies.

Drug|Costco|C V S|Grocery
Entecavir (Generic for Baraclude)|

73%​

|

737%​

|

71%​

|
Diclofenac Sodium (Generic for Voltaren)|

91%​

|

137%​

|

99%​

|
Lovastatin (Generic for Mevacor)|

307%​

|

324%​

|

148%​

|
Metformin Extended Release (ER) (Generic for Glucophage XR)|

314%​

|

542%​

|

185%​

|
Ropinirole Extended Release (ER) (Generic for Requip XL)|

112%​

|

159%​

|

129%​

|
Losartan / HCTZ (Generic for Hyzaar)|

444%​

|

580%​

|

253%​

|
Azithromycin (Generic for Zithromax)|

89%​

|

135%​

|

94%​

|
Amoxicillin / Clavulanate (Generic for Augmentin)|

125%​

|

207%​

|

106%​

|
Clopidogrel (Generic for Plavix)|

196%​

|

598%​

|

224%​

|
Memantine (Generic for Namenda)|

281%​

|

1817%​

|

309%​

|

Make that 3 of us!!!

I knew it wasn't clear, even after I posted, but must have had something else to grab my attention before adding an example.


Lovastatin, for instance, the 3rd one in the list would cost about 3 times more at Costco and CVS than the Mark Cuban site. So a value under 100% means that drug at that store was cheaper than the MC site, but there are many more that are 2x, 3x up to 18x higher if bought through GoodRx. Clear as mud?

 

[Fermion]

Limited number of meds at this time but it looks promising. Only a billionaire like Cuban could possibly take on big pharma, that is unless they decide to take him on or buy him out. Of course my suspicious nature makes me wonder if he's doing things like this to set himself up for a run at the top office.

If big pharma actually needed taking on. It is one of the worst places to invest right now aside from outliers making some of the vaccines. If they were rolling in the money like Microsoft, it would be different.

 

[target2019]

This is taking on the pharmacies, not big pharma.

 

[Fermion]

This is taking on the pharmacies, not big pharma.

Ok, yeah big pharmacies lol, not big pharmaceuticals.

The more I dabble with investing in pharmaceuticals and read the financials and reports, the more I understand why they do things like spend so much money on advertising. They have so little time to recoup an investment before a generic or biosimilar comes out. This all comes down to the patent needing to be filed (and the timer ticking) before the drug has gone through the years and years (decades for cancer drugs) of testing. You spend 3 or 4 billion dollars and 10 to 12 years on a drug only to have 8 to 10 years left on the patent and heck yeah as an investor I expect you to advertise the hell out of it before it is worthless.

 

[Car-Guy]

This is taking on the pharmacies, not big pharma.

Yes, from my POV, it's pharmacies, drug insurance companies and all the middlemen.

 

[CincyDave]

I knew it wasn't clear, even after I posted, but must have had something else to grab my attention before adding an example.


Lovastatin, for instance, the 3rd one in the list would cost about 3 times more at Costco and CVS than the Mark Cuban site. So a value under 100% means that drug at that store was cheaper than the MC site, but there are many more that are 2x, 3x up to 18x higher if bought through GoodRx. Clear as mud?

Makes perfect sense now. Thanks for clarifying!

 

[aja8888]

Makes perfect sense now. Thanks for clarifying!

Ditto!

 

[Chuckanut]

Doesn’t it seem weird that there’s no search function so you can’t query to see if they have your drug by name search without having to select a category?

Hopefully, as the site is used by more and more people it will evolve to be easier to use. At the beginning, simple is better. Software that confuses and/or overwhelms the user is not good.

 

[Sojourner]

Looks good. I randomly selected 10 entries and compared to GoodRx pricing at a few local pharmacies.

Drug|Costco|C V S|Grocery
Entecavir (Generic for Baraclude)|

73%​

|

737%​

|

71%​

|
Diclofenac Sodium (Generic for Voltaren)|

91%​

|

137%​

|

99%​

|
Lovastatin (Generic for Mevacor)|

307%​

|

324%​

|

148%​

|
Metformin Extended Release (ER) (Generic for Glucophage XR)|

314%​

|

542%​

|

185%​

|
Ropinirole Extended Release (ER) (Generic for Requip XL)|

112%​

|

159%​

|

129%​

|
Losartan / HCTZ (Generic for Hyzaar)|

444%​

|

580%​

|

253%​

|
Azithromycin (Generic for Zithromax)|

89%​

|

135%​

|

94%​

|
Amoxicillin / Clavulanate (Generic for Augmentin)|

125%​

|

207%​

|

106%​

|
Clopidogrel (Generic for Plavix)|

196%​

|

598%​

|

224%​

|
Memantine (Generic for Namenda)|

281%​

|

1817%​

|

309%​

|

This looks good on the surface, but I wonder what the actual dollar savings are for the most commonly prescribed drugs. I mean, it's pretty eye-catching to see that this new service is charging, say, 50% less for a drug than you could get using GoodRx. But if that means paying $5/month instead of $10, it's hardly life changing. Hopefully, the list will grow over time to include drugs that typically cost $100+ per month.

EDIT TO ADD: I just noticed that the dollar savings for each drug is listed in the far right column on the CostPlusDrugs site. HOWEVER, that is the savings compared to the full retail price. For example, they claim you can save $672 (per month?) on aripiprazole (generic Abilify). Yet by using GoodRx you'd pay only about $14 for a one month supply, versus $6 from CostPlusDrugs.

 

[Gotadimple]

Ok, yeah big pharmacies lol, not big pharmaceuticals.

Nope! But close. Drugs, who makes them, who dispenses them, who pays for them is a very complex problem to understand. Two issues here, and not saying who Mark Cuban is trying to take on.

1. Not pharmacies, but pharmacy benefit managers (PBM). These are companies that negotiate prices for drugs for private insurers (not government like Medicaid or Medicare who deal direct). Then the insurers contract with the PBM to develop their formularies (what drugs are covered by insurance).

PBMs make the mega-$, pharmacies merely get a dispensing fee (i.e., $1 per script). So large pharmacies like Walgreens earn based on the volume of prescriptions dispensed. Pharmacies don't pay for the drugs dispensed to those using insurance benefits (PBMs and their insurance partners, and Medicaid, and Medicare) - the PBMs pay.

2. Pharmacies do pay for drugs dispensed to those who have no insurance or choose to not use their insurance because the PBM price is higher than GoodRx et al. GoodRx simply aggregates pricing from pharmacies willing to share their pricing for prescriptions that they sell to the public. So the profit for a pharmacy is in serving the public, which is why an aggregator like GoodRx exists.

Hope that wasn't too confusing!

 

[Gotadimple]

If you haven't read the About page at the CostPlus Drug site, please consider looking at it.

First there is the mission statement from Mark Cuban. Could be political, maybe not.
Then the statement from the CEO, also could be political or maybe not.
Then come the details. CostPlus is not a pharmacy. They contract with a mail order pharmacy.
Then comes the promise. Someday soon they will be making their own drugs in Texas.

I don't know what to think about any of this. The mail order pharmacy is only accredited through next year, and many compounding pharmacies can make drugs today, just not in large quantities.

- Rita