Mark Cuban is mad about the high costs of prescription drugs in the United States, and that’s all we need to hear to know about the impending dunk against the pharmaceutical industry. (You see, what I did there, ‘dunk’ because Cuban is the owner of the NBA team Dallas Mavericks!) For those who don’t know who Cuban is, he is a billionaire.
He is not just a random billionaire, he is the one who uplifts others with him when he rises. Also, if you don’t know who he is, are you even living on this planet? Well, if you have lived on this planet, then you might have known about the famous show ‘Shark Tank’ in which he is the best-known investor. Now, he is planning to take down the pharmaceutical industry that makes people choose between – “Food, Clothes, And Drugs.”
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Why Mark Cuban Is Planning To Upend The Pharmaceutical Industry?
In an interview with Forbes, Cuban revealed that he is mad at the pharmaceutical industry for keeping high costs on prescription drugs. Hence, he took the matters into his own hands and geared up to mess with the industry. We can soon see his name on pill bottles at hospitals and pharmacies.
The ‘Shark Tank’ mega mind bought in stealth, a drug company, recently. He aims to sell 100 different generic drugs at transparent prices by the end of this year. The Mark Cuban Cost Plus Drugs Company will “f***” the whole pharmaceutical industry in 5 years, although he is at loss now.
“It’s ridiculous what the pricing for generic drugs is. Period end of story,” Cuban wrote in an email to Forbes. The billionaire did not disclose how much he invested on the eponymous drug company. He said, “I put my name on it because I wanted to show that capitalism can be compassionate and to send the message I am all in.”
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What Did The Billionaire Say About His Motifs To Trevor Noah On ‘The Daily Show’?
After congratulating Cuban on the 14th Season of the “successful” and “fun” show, ‘Shark Tank’, Noah gradually started his interview. The host asked him, “You are having a great time and you haven’t lost that drive. Like what makes you get out of bed every single day, if it’s not the money?”
The billionaire answered, “I’m competitive. I like to kick a**.” He also added jokingly, “If you start a business and you’re in my business, I’m gonna f*** you up.” Noah then entered the topic of pharmaceutical industry. He said that he saw a tweet of Cuban stating that he was going to upend the pharmaceutical industry and thought this would just be another billionaire professing something outrageous and not do anything about it. However, the host was surprised to find out that Cuban “actually did it.”
Cuban said that they have started a company called CostPlusDrugs.com. He added, “If you go and put in the drug and if we carry it, it will show you not only what we sell it for. It’ll show you our cost.” Noah then interrupted and asked, “Actual cost?”, to which the investor replied, yes. He also stated that the company would only charge a “three-dollar pharmacy fee”, and “five dollars for shipping.” “You know what exactly you paid and so, you can trust it,” he said.
The ‘Shark Tank’ mega mind said that this is the first time in the pharmacy industry where, when someone is buying a medication, they can trust that they’re paying a fair price. Following the conversation, the host asked whether the investor is making money by implementing this. Cuban replied, “Not yet. But we will eventually.”
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Why Cuban Is Adamant About Changing The Way Of Pharmacy Industry?
Cuban shared, “I just had a friend literally two days ago, a guy that I knew in college, Landon Turner. He was taking this drug dera-cot? and He’s like, “Mark, it costs me $3,000 a month. I can’t afford it? Can you help?”“
So, the billionaire had his guys get into it. Cuban told Noah, “Not five minutes ago while I was waiting in the green room, he came back. Landon was paying $3000 a month. It’s now gonna cost him $63 a month.” When the audience gasped and clapped with joy, the billionaire interrupted to correct his mistake and said that it was not $63 dollar for month rather “$63 for three months.”
Noah then asked, “I’m sure you can’t be bought. But surely, people are not happy with what you’re doing. Like it doesn’t seem like you are good for business.” The host then added, “It feels like you are gonna make lots of enemies for doing this. And, as you say, you’re competitive, so you don’t really care. But is there no way they can undercut you?”
The billionaire had the best answer. He said, “I mean, there’s ways, right, but,” he had to laugh it out before answering, “It ain’t gonna happen.” Cuban explained that there are three big companies which control the distortion of prices in the industry, and his company is working outside of that. “Because we work outside of the system, they can’t stop us,” the billionaire boasted himself.
Cuban ended the segment by stating, “Five years from now, we can look back and say, we f***ed them up.” He then added, “That’s my goal.” The audience cheered for the right-minded billionaire with the goal of making a huge impact on the people. Noah praised him and said, “One of the reasons you are so successful is because you have a different view on how to be successful and what success means.” This is true! What do you think about Cuban and his soon-to-be successful goal?
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