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How Mark Cuban Is Trying to Disrupt Big Pharma | WSJ
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- čas přidán 6. 08. 2024
- Mark Cuban’s drug company Cost Plus sells more than 200 generic medications, often at steep discounts to list prices. As drug prices remain out of reach for many Americans, Cuban is seeking to supply more affordable prescription drugs by removing insurance plans and healthcare industry middlemen, known as pharmacy benefit managers.
In an interview with WSJ, billionaire investor Mark Cuban explains how his low-cost, online drug company works and the challenges it faces in a consolidated industry run by big pharma.
0:00 Mark Cuban’s goal
1:11 Drug supply chain and PBMs
3:48 Cost Plus
5:41 What’s next?
#Healthcare #MarkCuban #WSJ
Thank you Mark Cuban, I went from $456.00 to $33.00 a month for my medications!
Sure!
Prove it
Nvm don't stay safe yo.
@@jeffder7143 You're hired.
Haha those are very specific numbers you’re giving for your net monthly medication costs. God I love internet trolls hahaha
CVS was charging my father $114 for his cholesterol medication under his new insurance. Mark Cuban had the lowest price of any retailer for that medicine at $16.70.
Just curious what cholesterol medication? Atorvastatin?? And how many tablets??
@@wisdomisawesome5934 His is 90 count Fenofibrate
@@andreeab82 oh wow that’s really expensive for something like that. Any discount card would be better than that
Government run healthcare ruins the free market, it takes away the competition. When a Doctor chooses a prescription for you, he is going to choose the most expensive one, because he knows Government run healthcare will pay for it and he gets a kick back by using the Government system. In order for Mark Cuban to survive, Government needs to get out of the healthcare business and bring back competition and the free market to healthcare.
Just stop eating meat and eggs and you wont need any medication
As a broke college kid that has to pay $500/mo for a single medication, Mark Cuban might be my new favorite person. I can't get mine from his pharmacy yet, but the fact that he's out there doing this gives me hope
As a European 500 a month for something necessary to stay alive is crazy... really rooting for you and everyone in the states to finally normalize the healthcare industry.
@@max2themax don't believe everything you read on the internet. If they were a real broke college kid the government would cover all the costs through Medicaid
@@max2themax also in college, I pay $429 per month just for meds. Almost $300 for my health insurance.
@@onemorelivingvids That's so sad... Rich people in power really don't care about the public, do they?
@@onemorelivingvids what do you get? Controlled substance?
My medication was $43 with insurance and $900 without insurance. But it was $28 through Cost Plus. Thank you so much, Mark Cuban!
A billionaire who is changing the world for the better, wow, thanks Cuban you're an actual hero
Hard to believe. I keep wondering what the catch is.
It's about time, his prior behavior did not predict this, but it's never too late to "break good".
@@rabbit251 The catch is that money doesn't actually turn you evil.
@@rabbit251 Yes there might be a catch, Mark Cuban is a businessman at the end of the day. But you also have to understand a larger situation and what his business helps to alleviate. People in the US are being gouged deeply for medication, generics even, that are extremely cheaper outside of the US. His company sells the generic medication for a whole lot cheaper.
You might have to take some bullets to win a war. Yes, there might be a catch. But also yes, his business helps save people's lives. And in the absence of other options, I guess you have to swallow whatever doubts you have and let him operate if it means his company can help make drug prices in the US go down a lot.
He should be our president
I am a European, liking and commenting to support this company. Just learned on Twitter they don't do marketing, one of the reasons they can offer low prices.
When was the last time you've seen marketing being done for a generic drugs retailer? Name one. It already doesn't happen. Business is done through farmacies.
@@stertcraft I get what you mean but he's not competing against generic drug brands.
You’re European? Cool. I’m North American. Lol.
@@stertcraft in the Philippines we have riteMed. They do a lot of marketing, and their business model is similar to Cuban's.
I appreciate that, fellow human
I’m worried for his safety 😭 I hope he’s upped his security 🙏🏾 What a great man to actually use his power for good ❤️
Right?! Thats EXACTLY what I commented saying!
He's a billionaire. He's probably got a whole entourage watching his back at all times.
We can wish and pray for his safety everyday
Big business in the US is violent in its own way but it's not Russia, these kinds of murders don't happen
@@huguesjouffrai9618 you'd be surprised
Thank you Mark Cuban for taking a stand and actually doing something about this huge problem.
Too much money in it. They wont pass for him to get his managers. Too much money in it for the rich to lose, capitalism always wins, mark will lose this fight. BILLIONS in revenue will be lost every year if he succeeds.
@nuck. What do you think capitalism actually is? It is not “all money goes to the wealthy” it is a system where the most competitive product wins. Cuban is doing just that, putting out a better product at a cheaper price…Yes, capitalism will win because it is a better product in this case. The only thing that can derail this would be the government stepping in on behalf of the pharmacies…which is distinctly not capitalism.
@@jhassemer good thing cuban is a well known figure and billionaire, so they have to play it safe with him.
I'm from India and we have some of the cheapest medication in the world. I truly hope this works and that the good people of America don't have to suffer simply because medication is too expensive
They don't have mrp system in place. So costs differ at different places
Umm, no thank you India you can keep your medications, you guys probably add asbestos to your meds to save a few $$$
@@donator5724 Or Insurance which makes a big difference. The direct pay system works for 90% of the people. Just gets expensive at the upper end for cure and treatment of big diseases. Over inflated admin costs (jobs for the sake of having jobs) always tend to inflate prices.
@@donator5724 they don't have as many generic drugs as we do.
Y’all sell it for cheap and America ads 2 extra 0s to make a big profit 🤣
I went to Costco when I told them I didn’t have insurance my 60$ drugs became 15$ lol like how is it cheaper to not have insurance. The whole system is nuts
They are probably applying some discount card on the Rx. Usually pharmacies lose money when they do that.
Probably used a GoodRX card
I tried that at a pharmacy once and my $70 prescription became $400 😭
@@4FYTfa8EjYHNXjChe8xs7xmC5pNEtz that's what they charge without insurance. That's why you use a drug discount card to lower the price. There free.
Funny because even here in Canada you end up paying more for prescriptions unless you're part of some sort of drug benefit program (insurance).
I saw him on CBS morning news a week or so ago. He said he saw a need and since he was in a financial situation where maximum profit wasn't something he needed, he decided to help instead. If only more CEO's had that kind of mindset.
I mean, he's said before that he's at the point in his life where he doesn't care about maximizing profit (as much) anymore, he's said he just wants to compete and disrupt industries and he is really making waves so far. He has also mentioned about trying to do a bare bones college type of program too, to disrupt higher ed, which I would be all for.
$800 without insurance, $300 with insurance, $80 through Cost Plus (adjusting for dosage and using a variation of one ingredient). I was seriously considering not treating my asthma for a few minutes before I remembered Cost Plus exists.
In New Zealand, prescriptions cost $5 per item, and once you've spent $120 in a year, they're free for the rest of the year. It's so cheap that many supermarkets and cosmetics superstores have their own pharmacies where they offer the entire prescription for free, just absorbing the $5 cost so they can get you in the door to hopefully buy other items.
We have a similar system in the UK, it’s £9.95 ($19.46 NZD) per item, but you can get an annual pass for £108.10 ($211.40 NZD).
Nice
New Zealand is also one of the biggest consumers of anti-depressants. I guess when it's $5, once you pop you can't stop. I've always wanted my home country to be hooked on anti-depressants. There's benefits and drawbacks to every system. But sure, new Zealand sunshine and daisy's, just ask the aboriginals.... oh wait......
@@johnnyduran4019 the us famously has never had drug problems, not in the poor minority communities, not in rural mountain communities, not in the suburban middle class, and not in rich communities. Famously crack heroin weed/Adderall and cocaine do not exist
@@johnnyduran4019 Hahahha this is such a cope. If one country in the world has a problem with people getting addicted on drugs through prescription medicine its the US. Ever heard of the opiod crisis?
Protect this man at all costs
Yours is the wisest post of the day. These large companies are akin to the mafia and will crush any person, place, or thing that gets in their way. We are governed by money in politics and not those we elect to govern us. We are governed from corporate boardrooms. If he doesn't have it he would be wise to keep a bodyguard or two around.
Yeah.
He needs to be careful he doesn't get Epstein'd
Literally… watch out for gates
@@foycur I don’t think Cuban has sex with children
I switched my prescriptions, two generics. Neither were unmanageably expensive, but they still went down to a fifth the original cost, and I can get it three months at a time, which my insurance screamed about. Thank you, I hope he can make this happen for non-generics too!
From a DIE HARD San Antonino Spurs fan. I can say this without any qualms. I LOVE MARK CUBAN and what he has done.
It’s shocking how the US leadership has left companies play games with people’s lives.
What do you expect when corporations run the country- not elected officials? This has only become more extreme since the Raegan Era.
@@MAYK1NG and why would elected officials run the economy? They are just chosen people who are truly incompetent in understanding how a particular industry works
Because government intervening in the US for the public is often painted as being communism
@@tomlxyz its not communism, but gives government a lot of control to abuse citizens later in very subtle ways like subsidies, corruption, bailouts, federal funding, etc
US ‘leadership’ have now successfully outdone the companies in playing games with peoples lives. They are gaslighting the population into the ground
Didn't watch video, just wanted to say that I use his service and my RX bills have gone from $300 a month to $80. Yes it does work and I hope he breaks up big pharma.
making obscene profits from sick people is absolutely disgusting. people should be in jail rotting away for that kind of inhumanity toward the most vulnerable.
That's awesome man.
@@mango-strawberry Thanks. I am telling anybody and everybody that he is saving me tons of money for the same drugs. Amazing how he can get it done, but CVS, Rite Aid are still screwing the public over.
Big pharma would epstein him
@@Fanta.... If you think they're bad, don't look at your doctor's books, you'll never trust them again.
I’ve been getting my antidepressant and heart meds from Cost Plus for months. I absolutely love it. So thankful to Mark Cuban for doing this.
God bless this man for taking a huge risk to do this going against the big mafias in the medicine industries and the govt. Let us pray for Mark's well being and success.
Finally someone putting money towards a noble cause. I hope you become the biggest low-cost drug company in the world. I wish more people would throw money into businesses and have them run on razor thin or break even profits purely to kill monopolies and help the average battler.
Let buy share in the company. Now
@@umarmoro4336 They'd have to be public for you to do that, they're not, and probably won't be or else they'd be victim to a hostile takeover very very rapidly.
Nobody would put a billion dollars out just to get their money back.
@@blipblop92 you are so close to understanding why governments need to protect healthcare
@@Randomkloud Protecting healthcare the Bureaucrats decide who wins and the job after government depends on how well they do FOR the drug companies
Medicine costs in USA are unbelievable. The same medicine that costs 100$ in USA can be as low as 7$ in Asia
Yes, but that is because their governments basically don't let pharma companies set their own prices and extend their patents forever. Essentially, US consumers fund drug R&D for the rest of the world right now. If the US gov't stops this, who will pay the billions of dollars necessary to develop and test each new drug?
If they do make any changes to this system, it needs to be done very carefully. There's very good reasons why most major pharma companies are US companies primarily earning money in the US.
@@TohaBgood2 Lol no, much of the money earned by drug companies actually vanishes into the pockets of shareholders and executives.
@@TohaBgood2 the majority of R&D is funded by government programs. Only the last steps to commercialisation of the drug is handled solely by the manufacturer. Many drug research companies also fund that with investments and the stock market. There's a reason why holding drug company stock is so popular, massive profit margins.
@@TohaBgood2 I'm curious, do you work for big pharma or have you just been taken in by their propaganda? What you say is nonsense. It's been studied & proven as such
The United States accounted for 42% of prescription drug spending and 40% of the total GDP among innovator countries and was responsible for the development of 43.7% of the NMEs (new drugs). The United Kingdom, Switzerland, and a few other countries innovated proportionally more than their contribution to GDP or prescription drug spending
@@Refrack Similarly, when a drug doesn't work out they eat the billions in sunk costs they just wasted over 10 years with zero results. Are you prepared to pay for that as a taxpayer? I'm honestly not. The government is the only entity that is capable of funding fundamental research and we need to fund more of it. But when it comes to bringing products to market, the government is basically incompetent.
The profits are a payment for risk. If we were to do all of that R&D and testing on the government's dime we'd have to eat all those costs. Right now, the company can either eat the cost or file for bankruptcy. Either way investors pay for it not the taxpayer.
Look, I'm not saying this is the best way of doing this, not by a long shot. But this system works right now. If you propose we change something, then that something needs to work better than the current system. Otherwise, there's not reason to make the switch, is there? How can you do that if you don't even understand how the current system works?
Costco had one of meds already pretty cheap ($13 for 90 day supply) but I was surprised to see that it is even cheaper on his website. That’s really crazy. I hope the business becomes a massive success.
Now this is the kinda "disruption" I like...actually HELPING people, instead of distracting and monetizing off people.
he’s monetizing alright.. but it’s deserved.
I have health insurance… and I really want this to become really popular. This will benefit EVERYONE.
More than willing to bet that health insurance is a big part of the reason why healthcare is so expensive to begin with. In America, all they do is incentivize cost shifting which makes everything more expensive down the line.
@@Misaka-gt5yj It's the "cut" of the Pharmacy Benefit Manager (PBM) that sends the cost of prescription medications into outer space. 😱💸😒 If the drug companies could figure out how to cut out the PBM, even new drugs could become way cheaper.
I dont understand why you have to specify that you have health insurance. In my country everyone has health insurance. It is the norm.
@@thekraken1173 congratulations for living in a sane country. Here it is not the norm.
@@thekraken1173 here, it’s dictated by whether you have a decent job or not. Don’t my fellow Americans love having insurance up until your employer has to lay you off?
I don’t know if I necessarily like Mark Cuban personally, but this is absolutely INCREDIBLE for the big pharma industry!!! Thank you mark! This is what using your wealth for good looks like!
I hope so. I give him credit for trying to do something. If more billionaires did something like this instead of that charity PR scam that most do for good publicity, when it's nothing more than a tax dodge, the world would be a better place. Paying their taxes, which many don't, would be even better.
Generic drugs could be extremely cheap. A lot of things Americans pay hundreds of dollars is very cheap abroad.
Yeah, but that's because those countries' governments specifically provide for that to be the case. In the US pharma companies can basically extend their patents forever so generics are almost never truly an alternative for a certain class of medications, usually the most lifesaving.
We could end this system, but that would mean that these pharma companies would never make enough money to justify the costs of developing some kinds of new drugs. Basically, right now the US consumer pays for drug R&D for the rest of the world. We could make existing drugs cheaper, but at the cost of not having as much new lifesaving drugs being developed in the future.
As with all things, this is a double-edged sword. Short term gain for longterm pain, if we do it wrong.
@@TohaBgood2 you’re absolutely right and a lot of people don’t know this…. They only see the big pharma as evil
@@TohaBgood2 Why confuse a band aid, with a cure.
@@TohaBgood2 a lot of them don't really 'research' the drugs. Buying out small companies, or the product and patent itself counts as 'research'.
@@alexandervowles3518 Where exactly are you getting your data on this from?
That’s not really true. Whether done by the parent company or whatever smaller company they acquire, you still need to do massive amounts of work to bring anything remotely medical to market. The FDA isn’t messing around and a single dangerous drug can be game over for an entire pharma company.
The patent can come at any stage they feel like they have worthwhile IP to protect. Someone still needs to develop both the drug itself as well as the technology to produce it cheaply and safely. All of that costs enormous amounts of money snd usually is an upfront investment before they can even begin trials and see if it really works.
This is so exciting! It's so crazy how drug companies are able to price gouge patients who have no other choice because they lack insurance. I hope Cuban business keeps growing.
They will negotiate with you. They never advertise this, of course.
People without insurance actually can get the best rates.
Protect this man
even when you're insured, it's a scam. the profits from insurers that flow to the producers keep the prices high.
Insurance is sadly one of the reasons prices are so high. They know insurance companies will cover the costs. It’s pure greed.
Most people venture into crypto to be millionaires, meanwhile i just want to be debt free
That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to getting rich
Just do the right thing, by trading with an expert, I trust me you will be a millionaire and debt free
Your businesses will make you rich but your investments will make you wealthy
When you invest in crypto you are buying days you don't need to work
Now is the best time to purchase and invest in bitcoin, stop procastinating.
I love Mark Cuban for this man the look on my dad’s face when I told him there’s a way for him to get his medication he’s been prescribed but could never afford‼️🙌🏽
WSJ: "There's still no long term solution to high drug prices in the US"
The rest of the developed world with socialized medicine: ????????
The rest of the world pays for that socialized medicine with their much higher taxes. They are still paying, the cost is just hidden.
Also note a huge part of the insanely inflated costs here in the US are because of artifically created (by the government) boundaries insurance companies can operate in which has prevented competition and allowed them to control pricing for thier profit.
I'd rather have USA medicine than the medicine we have now in South Korea, socialized medicine. Reimbursement rate for doctors are ridiculously cheap to reduce cost that doctors just gave up on practicing some specialties, like general surgery, cardiothoracic, and ob/gyn. They lose money for hospitals so no hospitals are willing to hire them. It's great for patients but no one wants to do these jobs anymore. 1 cardiothoracic resident covers 5 hospital systems it's ridiculous. This system cannot be sustained and the govt is trying to turn it to more Americanized medicine
they mean there's no long term solution to where they can make a lot of money off of it..
@@Luckingsworth lol check your taxes mate. Americans pay more than Europeans for healtcare in taxes and gets nothing back🤣 love how you cope about your corrupt system
@@Luckingsworth no, not how it works.
I am from Bangladesh and we have one of the cheapest medicine cost in the world. USA medical industry is straight up cut throat ripping off people to such an extent that is a crime.
I genuinely hope Mark succeeds with this company and if he goes public with it, I will happily buy this stock.
You are aware that 99% of all those cheap drugs you enjoy where developed by American and European companies spending billions in R&D? All this is possible because US and European countries pay a lot for these drugs that you enjoy so cheaply. If all countries would have such cheap prices as your country, there wouldn't be any new and expensive medicines in development. Im not arguing for ripping of US consumers, but pointing at them for "being stupid" while you are so smart, is kinda ...
You have a misconception. Maybe some drugs that are difficult to produce may be imported from other countries but most prescription medicine(~80-90%) in Bangladesh are manufactured by pharmaceuticals in the country.
@@anujpandita3387 Bangladesh has around 200 local pharma companies who meet 97% of the local demand and export Pharma products to 79 countries across globe, majority being in Europe.
@@anujpandita3387 as a physician in Bangladesh, I can confirm you are wrong. 99% drugs here are produced by our local pharma and international Pharma’s are running out of business every year. Even we export drugs to menu country’s even in USA
It's cheap because Bangladesh does effectively no R&D research. Just taking already researched and developed molecules and manufacturing them. America is responsible for 50% of new drug discovery and the American market is the primary market for all pharama companies to earn their billions spent in R&D back. Make no mistake, Americans are fed up with their current subsidization of global pharma development, but that will mean a serious global slow down in new drug research.
Mark Cuban might have made his biggest contribution to society yet. So much respect for the man now.
spotted another cuban bot
He is doing the community a great service.
I hope he success, we need more like this in the world
Mark Cuban showing some integrity, leadership and compassion for his fellow Americans. Thank-you Mark for committing yourself to this worthy cause, I hope this business model succeeds.
The fact that prices going down that steep should tell you it is selfless act. Great job Cuban.
That's how you use your money! I didn't dislike him before, but I'm liking Mark Cuban so much more now.
My medication costs $140 out of pocket if I use my "insurance". It costs just $40 all-in if I pay cash.
That's what happens when they can bill a large financial services company who never tries to negotiate a better price.
The price is magically lower if the end user pays.... that's corruption.
insurance is suppose to negotiate a price. that is what they did, they negotiated the higher price so they make more money :p
Imagine your government failing so badly that a Billionaire is lauded as a hero for simply trying to exploit the gap in the market.
All that being said, I hope his company thrives.
he will probbly build the company up prob then sell it later on like he has in the past
@@codien-a2217 I wouldn't blame him, as long as the business model doesn't change, he can do what he wants.
Right, its HIM exploiting the gap, not the 5000% markup drug companies....right?
@@chaoswraith Exactly! How is HE exploiting the market?
@@chaoswraith both ideas can exist at the same time. It's just that one is actually doing some good as a consequence.
It's refreshing to see a disruptor who isn't just "disrupting" to funnel more money into his own pockets at the expense of the average American.
im so glad i heard about it. my meds were almost 500 bucks. i get them at 60 now. thank you so much.
Saying there is demand for this company is an understatement
Joaquín Guzmán would be proud of Mark.
Hopefully he can get into hospitals and medical too, I haven't seen a doctor in 7 years, since 2015... I'm terrified of the cost
Good for you iatrogenic harm is a leading cause of death.
Go abroad brother
i live in italy i have a genetic desease i see my doctor at least 3 time at year, also all my medicine and my specialist( neuorosugent, mri, optometrist, dermatolog) are free (i pay only the gas for the car).
@@Lorre982 oh
if your income is low, most of the "Obamacare" plan is paid for by the govt. Just sign up online!
You are a hero, thanks Cuban! We need more people like you
CAN NOT BE BEAT. THANK YOU MARK FOR YOUR KINDNESS AND HELP. I AM SAVING OVER 56% on my cholesterol 90 day supply and its the same pill. Makes me wonder why when WB, JB & BG. could not do this when they said they would try. Maybe a little to much greed? Go to his website you do not have to sign up to see the prices.
I have lupus, and after losing my insurance after my divorce, I'm so glad that I found Mark Cuban's Cost Plus Drug Company. 4 out of 7 of my prescriptions are listed on the site and will save me thousands of dollars. One of my meds would have cost me $285 for a 90 day supply at my pharmacy, but I can get it from Cost Plus Pharmacy for $29.30 for a 90 day supply! What a blessing and a game changer! Thanks Mark!!
It's great to have some decent rich people like him.
What is more impressive is that he’s self made too
@@Aguynearu I didn't know that!! That's probably why he is so humble.
@@DrewRueDoo yeah until you see him on shark tank. But that’s just a fake persona for a show
"It's great to have some decent rich people like him."
Yes, I agree!
Mark Cuban
Joaquín Guzmán
Ismael Zambada
Heriberto Lazcano
Vicente Carrillo Fuentes
Jorge Eduardo Costilla
Héctor Beltrán Leyva
Nazario Moreno González
Juan José Esparragoza
Antonio Ezequiel Cárdenas
Luis Fernando Sánchez Arellano
I hope this company succeeds. It's disgusting how corporations can commodify life saving treatments.
Incredibly happy to hear about Mark Cuban's continous good deeds! Great work man.
This is amazing. I wish we can do the same for the medical industry.
I was pretty skeptical but I went on there to look at prices of medication for my mom and found that they have the same medication that my mom uses for high blood pressure significantly cheaper than what she pays at the pharmacy.
Is it safe?
@@glizzyketchup5822 I mean my mom has been taking it for awhile now and hasn’t had any problems
@@glizzyketchup5822 it's the exact same drugs. Totally safe.
@@glizzyketchup5822 There are 0 differences between a "brand name" and "generic name" drug. The active ingredients are the same. Branding is something marketing in capitalism has been widely successful at. It's based on psychology, I believe. We like to trust things that have names as opposed to "no names".
All the best CostPlus. Thanks for at least trying to make a difference. We will try everything we can do as voters in this country to support you.
This info need to be shared to more people! I wasn’t aware of this until this came into my feed
Since shark tank aired years ago I can tell Cuban had a big heart. He often has sympathy or atleast great advice even with those he never planned to invest with. And this just seals the deal and proves it
This is huge! Apparently I can save $80/mo on allergy related medicine, the costs for Azelastine are $80 lower than retail and $30 lower than what I've been paying with my "insurance discount". Screw the insurance markups, claiming to incur costs for you while in reality raking in huge profits. EDIT (1 months later): confirming I was able to get the same allergy meds for $8+5 shipping direct to my house that used to cost $45 "with insurance discount" at CVS. Switching over was super easy!
Thanks Mark Cuban.
I was really excited with the talks about price transparency in the medical field in general. Idk if that’s still a thing, but I’m glad to see that this shows just how messed up our system has become. I don’t think you need to have universal healthcare, but finding ways to reach equilibrium with supply and demand. Makes no sense that I can go in for a procedure and have no clue what I’m going to be charged until after everything is already done. An MRI can be thousands of dollars, or a couple hundred, depending where you’re at. Same procedure, same expertise, but somehow massively inflated pricing. Guarantee when you start having people going to the doctor who’s the best and cheapest, others would follow. Forcing other doctors to either follow suit, or be priced out of the market.
Not just disrupt drug industry we also need people like this to distrust the gas n electric industries.
“Selling is helping, not convincing”. That’s a solid quote.
I am from India, medicines or any kind of surgery is completely free in government colleges, hospitals, btw medicines are really cheap, this is crazy, I didn't know this much price difference, 🤷♂️
No one would not like to be treated for free in Govt Hospitals. Only people with out any other option go there
@@gsnayak06 lol,😂 in India best doctors are found in government hospitals, those who couldn't able to clear the test, go for private hospitals, obviously big giant private hospitals are exception
@@vitaminprotein325 could be but facility / infra, cleanliness, security of govt hospital is not something any one wants to put up with
@@gsnayak06 Cant say it has ever crossed my mind to go private when I have an free to use public hospital university near by.
@@gsnayak06 “no one would not like to be treated for free…” you know what, in your mistake you actually said the truth.
ER Doctor here ! This is Wonderful :) Love it ! Bring down big useless companies overcharging for Medication... SO many patients cannot afford their Insulin and is crazy/sad. STAY SAFE ALL !!!!!
People like him make America great
THIS is the content that I NEED.
Transparency really should be what we focus on. Good on this guy for disrupting "the game" than no consumer ever agreed to play.
This just makes me so happy and sad at the same time. I wish cuban had fought big pharma earlier, my grandpa would probably be still be alive, we couldnt afford his meds. Though Im also extremely happy this guy is now waging war with the big pharma making meds more affordable
I'm so glad he's doing this. I work as a medical assistant in an internal medicine office. It is Bizzar to me, on the amount of patients that call our office stating that "I need an alternative, this medicine is to expensive, @30 day supply for $ 200+ or 90 day supply for 3-6000$. (it can range drastically) It truly saddens me. OUR Dr's CAN Not be Drs due to medicine price/radiology pricing. etc... Thank you Mr. Cuban.
Bless Mark Cuban. I'm happy to see he's doing something directly helpful for the working class.
YES! he totally seems like he is for the working class: just a normal billionaire worth about 4 billion and he owns the Dallas Mavericks. Recently Mark Cuban admitted that the Mavericks were intentionally losing games and was fined 600,000 dollars for it Cuban is an associate of the intermarried Borghese and Torlonia families
human life for money .how do these drug companies function charging thousands of dollars for a $5 drug to a poor sick or dying person .sickening to think people could be so cruel .way to go mark ' hope you make progress fast .
I am still trying to wrap my head around how the cost difference between my old provider and CPD could be so different. Mark is literally saving me $100 per 90 day supply. The benefits managers must just be such a drain on the system. He’s doing us a public service with this company, since our “representatives” are so deep in the pockets of health care lobbyists. Would that there were a collaborative effort among healthcare providers to provide basic services for cash cheaper than the insurance price.
Today I learned there's a whole industry of leeches to specifically exploit people in a vunerable position of needing medication: pharmacy benefit managers. It's about time someone comes to market to compete with volumes to disrupt the unethically high medicine margins.
Facts! PBMs are ruining the pharmacy industry.
Way to go mark Cuban! We need more influential people like you making a difference for us commoners!
Part of why I think the market is so fragmented is because of our belief in the free market economy. Not bad when you have actual competition between pharma companies, but there has been no motivation for actual consumer competition given the landscape of pharmaceutical industry compared to other products. Hopefully something like this will get companies to actually start behaving like real business again
put all prescription drugs in the public domain after a year.
Lol the market is broken only in US thanks to Bush.
Price transparency will help promote consumer awareness and will bring down the price
@@velgurusamy971 absolutely. The consumer should be price shopping, but if CVS has is for $142, Walgreens $141, and Rite Aid $143, there's not any real competition. But if Cuban can be like "it costs $15 to make and I'm selling it for $40, not $140" THEN you have market disruption.
The reason there is no competition in the drug market is *because* of government regulation. Look at prices of rhinoplasty and laser eye surgery if you want to see how competitive markets work in this industry. The broken marketplace is a government created one.
If it’s Generic, it doesn’t mean that it isn’t as good as Branded medicines. Branded ones are expensive for a reason, but generic ones really works well as branded ones.
This man is a hero. We need to help him spread the word. Hope he has started a revolution.
Good Job Mark
This has actually benefited my mother a lot because she has leukemia and Pfizer’s options like eliquis just isn’t feasible for her. The medication actually is a god sent
That's awesome to hear! Best of luck to your family and mother!
This man is going to save a lot of lives, well done sir 👏👏👏
I always liked mark , now I love mark . Thanks mr Cuban. You will save lives !
Thank you for stepping up to save so many lives, with affordable prices. 😊❤️
What’s sad is when you realize that these pharmaceuticals are not just abstract drugs, it’s healthcare. How can a country claim to protect the lives of citizens and not play a hand regulating drug prices
Moreover large companies use huge ammount of public money invested in research and development. Public input, private output.
- It’s all about the GREED.
@@hissyfitz7890 Yup. But it isn't hard to fight against it with proper policy. Full transparency, regulation cutting. It's beyond believable how insulin costs in United States.
@Feng Which drugs? Generics? Insulin? This hasn't anything with capitalism, more with over regulation and cronyism. In free market such things could be much cheaper. You know, some Americans buy them abroad for lower prices.
Just gotta be someone with good genetics honestly. This world is survival of the fittest type mentality.
Hope he can promote more transparency in medical field, for example, surgeries,.Exams and tests. Thank you Mr Cuban for going this far!
This is so great to hear.
This is exciting. I really hope it works. *THIS is the real pro-LIFE movement in the USA.*
Thank you on behalf of all the poor and needy consumers.
He needs our support to change the pharmaceutical business !!!
This is amazing!
I wish more billionaires and CEO’s would have the moral integrity to adopt similar business models that would help the people of the world, rather than being driven by shear profit. We are lucky if we get 80 years in this life, isn’t better to leave a legacy of helping others over how much wealth you left in your bank account?
I soooo agree with everything you have said! It is going to take more people like this man who have more money then any one person needs and now they are trying to do their part to help our country!
no, we need to make it so that CHEAP medicines are PROFITABLE and HIGH MARGIN medicines become a liability only by then they will lower their margins
Elon Musk is like that. Yeah he’s obnoxious at time but it doesn’t take a rocket scientist to see how bad fuel cars are for our planet. Electric is required to keep Earth sustainable
if you only know how many billionares changed the world. your mind would explode.
@@talavera180 agreed. Although some billionaires don’t act like it , they all had vision . Almost every thing you use that made your life easier is made by a billionaire.
This is a big idea with a lot of potential - I hope it catches on quick! Its good for consumers, and good for the healthcare system. Pharma is so inefficient right now.
this is soooo awesome
Thanks so much for helping the people
I truly commend Mark Cuban for this. But my god, it’s a bit too dystopian that the government is so held by billionaires it’s taking another billionaire to support the struggling public.
Nice. And I wish Mark Cuban well with his future endeavors to bring low-cost drug options to the US market place. I think that the prices that some Pharma's charge for essential treatments and medications are nothing short of iniquitous at best and completely exploitative at worst. Hopefully his model can be rolled out to the rest of the world as well where the need for low-cost drug options is enormous, both for individuals and States.
Protect this man at all costs .
Africa Needs This Revolution
My prescriptions cost over $17,000.00 a month! I've been on Humira for about 15 years. It started at $1,000. and is now over $14,000. Meanwhile it sells for under $1,000. internationally despite being produced in USA. All those prices are for my monthly dosage. Since I started, Humira has been used for many more diseases. I am forced to not work, get Social Security Disability, because private insurance co-pays were costing half of my wages. I don't understand how those people price gouging us can sleep at night!
Sounds like a super good (safe and effective )medication as it is NEW, POPULAR, and EXPENSIVE...
"After paying California $24 million to resolve the state's lawsuit over an alleged Humira kickbacks scheme, AbbVie will now have to answer to investors who've filed a class action lawsuit in the company's home state.
On Monday in federal court in Chicago, Judge Charles Norgle certified the class action status of a securities fraud case against the drugmaker. In the case, investors claim AbbVie inflated its stock price by misleading the public about the effect a kickbacks scheme had on Humira's value."
"The California case was prompted by a Florida whistleblower, a former AbbVie nurse, who said that the company used tactics to prevent patient complaints about Humira from reaching doctors."
www.fiercepharma.com/pharma/kickback-case-against-abbvie-judge-rules-for-investors-to-certify-lawsuit-as-a-class-action
Can you buy this medication from somewhere else and get it shipped to you
@@taventube2151 I am getting meds through Medicare and Mass Health, forced to stop working purely because of med costs, and since I live below poverty rate my meds are free now!
Most drugs are formulated entirely in a lab, it's mostly extremely cheap to do so too.
They simply shouldn't cost as much as as they do.
Yeah, and the R&D is totally free too!
A quote from the TV show 'The West Wing ',
"The pill costs $1 to make"
"No, the second pill costs $1 to make, the first one cost $1B".
Don't get me wrong, I support what he's doing because your prices (Aussie here) are insane. But let's not discount the efforts to create those drugs in the first place.
I 💜 Cuban 4 what he’s doing. He’s really a person who got it from the ground & through his entrepreneurship & his investing is making a change in the 🌎. Much 💜 from NYC Mark.
Thanks Cuban what a blessing. I’m praying for you🙏