Mark Cuban, a billionaire best-known for his role on “Shark Tank” and for owning the Dallas Mavericks, is planning to disrupt the generic drugs industry with a new company.
Dubbed the Mark Cuban Cost Plus Drugs Company, the new venture is aiming to build a manufacturing site in Dallas and launch about 100 new drugs by the end of this year. Cuban’s first target will albendazole — a hookworm treatment with a list price of $225 per tablet that Cuban has pledged to sell for $20.
Driven by drug cost controversies in recent years, Cuban has promised a business structure that involves “radical transparency” about how it prices its drugs. Ultimately, Cuban says that the company will disclose its manufacturing, distribution and marketing costs, and add a flat 15 percent margin to all of its drugs for wholesale.
According to the company, the goal is to offer “low-cost versions of high-cost generic drugs.”
Read the full Forbes report.
