Uses of beets (Beta vulgaris) and molasses (Saccharum officinarum)
June 12, 2022
As a middleman in a long line of insurance companies, pharmaceutical companies, and drugstore chains, Mark Cuban’s PBM is expected to help reduce drug costs.
Because they typically receive a percentage discount on the manufacturer’s list price, PBMs will receive larger discounts on more expensive drugs than those that might provide value better at lower cost.
MCCPDC has been a registered pharmaceutical wholesaler for over a year, but initially stocked only a small number of drugs. It now buys more than 100 generic drugs directly from manufacturers, bypassing middlemen to lower prices significantly. It’s essentially a combination pharmacy, which focuses on drugs that are on the Food and Drug Administration’s shortage list.
On February 15, the company announced a discount on 4 drugs.
There is no doubt that Mark Cuban’s venture will have an impact, but will it be as disruptive to the prescription drug market as some media projects? Not initially. The company’s impact on the overall drug market will be limited by the quantity and type (generic drug) offered, as well as the fact that it is a cash-only system.
The company’s mission statement describes how the company specializes in manufacturing low-cost versions of high-cost generic drugs. Here, the stated goal is “complete transparency” in price negotiations with pharmaceutical companies.
has some limitations on the scope of the online pharmacy. Currently, the number of products offered – 100 – is relatively small.
More importantly, Cuban society does not accept prescription insurance. Obviously, for those without insurance, this shouldn’t be a problem, and having access to some low-cost generic drugs from the Cuban company would be very helpful. Likewise, for policyholders with high deductibles or other coverage gaps in coverage, the MCCPDC will help. Outside of the deductible space, however, for most insured customers, MCCPDC is less appealing.
In addition, by providing better access to some of the life-saving drugs on which patients depend, MCCDPC provides a valuable service. In a statement, Alex Oshmyansky said “it is imperative that we take action and help expand access to these medicines to those who need them most.” Indeed, MCCPDC is currently delivering drugs to treat various diseases, including diabetes, cancer, asthma, and cardiovascular disease.