Movie star investor Mark Cuban is receiving reward on social media after he launched a brand new firm that gives sufferers entry to inexpensive medicines.

Proprietor of the Dallas Mavericks basketball workforce and an investor on the TV present Shark Tank, Cuban launched the Mark Cuban Value Plus Drug Firm (MCCPDC), a direct-to-consumer on-line firm that provides greater than 100 generic medicines at discounted costs.

The investor stated ​​he goals to "be the low-cost supplier of medicines to sufferers."

"There was an apparent want for [MCCPDC] for sufferers, and the business is so convoluted. We felt by simplifying issues, we might supply decrease pricing for medicines," Cuban stated of the brand new enterprise, per PharmaPhorum.

In a press release on the corporate's web site, Cuban stated he began the corporate as a result of "each American ought to have entry to secure, inexpensive medicines."

Mark Cuban
Proprietor Mark Cuban of the Dallas Mavericks appears to be like on previous to the sport towards the Philadelphia 76ers on the Wells Fargo Middle on March 18, 2022 in Philadelphia, Pennsylvania. Getty Photos

He continued: "If you do not have insurance coverage or have a excessive deductible plan, you understand that even probably the most fundamental medicines can break the bank. Many individuals are spending loopy quantities of cash every month simply to remain wholesome. No American ought to must endure or worse—as a result of they cannot afford fundamental prescription medicines."

The corporate's low prices are achieved by working instantly with companions, which "permits us to solely markup our prices by 15 p.c," Cuban defined.

Explaining the enterprise mannequin, Cuban cited the drug prescribed for hookworm, Albendazole, which might value as a lot as $500 per course.

"Our value for Albendazole is $26.08 per course. We mark that worth up by 15 p.c so we are able to proceed to run the corporate and put money into disrupting the pricing of as many medication as we presumably can," he defined. "That makes the bottom worth of the drug $30. Then we add on the precise value, $3.00, that our pharmacy companions cost us to arrange and supply your prescription to you.

"That makes the gross sales worth on this web site $33. Far, far decrease than the pricing out there within the market."

This information has introduced reward for Cuban on-line, with one Reddit submit concerning the MCCPDC costs on r/MadeMeSmile subreddit clocking up 140 upvotes.

"I really use this pharmacy and it is the one motive I will nonetheless get my medicines. It is legit," reads one remark.

Cuban Laments Biden Administration's Lack of Charisma
Billionaire entrepreneur and proprietor of the Dallas Mavericks, Mark Cuban, criticized President Joe Biden's administration for missing charisma. Above, Cuban smiles from the bench previous to the sport towards the Philadelphia 76ers on the Wells Fargo Middle on December 20, 2019 in Philadelphia, Pennsylvania. Mitchell Leff

Whereas one other described the inexpensive meds as "financially life-changing."

"My husband takes that leukemia drug and he will get it from Mr. Cuban's firm. For us that is financially life-changing. We're eternally grateful to Mr. Cuban. We're 59, have labored laborious all of our lives. We thought we'd lose the whole lot on account of drug prices. Now we look ahead to a modest retirement," the commentator wrote.

In the meantime, on Twitter, one individual wrote: "In case you do not have a prescription plan. This can be a respectable web site and the costs are laborious to beat. Mark Cuban must be applauded for doing this."

Whereas one other added: "Mark Cuban simply saved humanity."