Mark Cuban is entering the generic drug industry with the launch of his new company, Mark Cuban Cost Plus Drug Company.
The company will manufacture, distribute and market its drugs to pharmacies.
“The Mark Cuban Cost Plus Drug Company is dedicated to producing low-cost versions of high-cost generic drugs,” according to the company’s website. “We pledge to provide radical transparency in how we price our drugs.”
The first drug the company is producing is called Abendazole, an antiparasitic drug used to treat hookworm infections that costs more than $200 per tablet. Cuban’s company sets the manufacturer’s suggested retail price at $20 per tablet.
According to the website, the company is working to produce more than 100 drugs by the end of the year. It is also hoping to build its own factory in Dallas by 2022.
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