Chris Davis

Chris Davis

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Mark Cuban's Pharmacy Could Save Medicare Billions Every Year

selective focus of a dog and a hand with a thyroid pill for a springer spaniel. Senior dog

Photo: Getty Images

Here's today's feel-good story:

Scientists have published a paper finding that if Medicare, a government health insurance provider, bought 77 generic medications from Mark Cuban's drug company, it could save almost $3.6 BILLION annually.

Mark Cuban’s Cost Plus Drug Company was founded last year, with the mission statement being to offer drugs to Americans at a significantly lower cost than they otherwise would be. The company prices the drugs with the cost of ingredients and manufacturing as well as a few other processing and shipping fees included. The medications are still half or even a quarter of what the name brand companies would charge.

The study, written by Harvard University, concluded that “our findings suggest that Medicare is overpaying for many generic drugs.”

Read more here.


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