Entrepreneur & Investor Mark Cuban has launched a low cost generic drug company called the Mark Cuban Cost Plus Drug Company.
According to the company, its first product which is Albendazole, an antiparasitic drug that currently has a market price of approximately $225 per tablet is going to cost only $20 per tablet in retail price.
The Mark Cuban Cost Plus Drug Company will make and distribute the Albendazole drug approximately $13.00 per tablet added with 15% profit margin. So the final cost for a wholesale price to pharmacies, clinics, hospitals, etc will be $15 per tablet.
“Our low cost albendazole product allows physicians to affordably treat hookworm outbreaks throughout America that were previously too expensive to treat systemically before.”, the company said on its website.
The drug company is aiming to introduce more than 100 drugs and build a pharmaceutical factory in Dallas by 2022.
The “Shark Tank” star officially tweet about this launch while announcing a partnership with Baylor College of Medicine Houston to tackle hookworm infections in Alabama.
After seeing the increasing numbers of health issues, the Mark Cuban Cost Plus Drug Company pledges to produce low-cost versions of high-cost generic drugs and to provide radical transparency in the pricing of the drugs.