Mark Cuban’s Plan To Take Down Big Pharma

Mark Cuban's Cost Plus Drugs Company is fighting Big Pharma on the rising costs of pharmaceutical prescription medication. The billionaire launched his own business circumventing the Pharmacy Benefit Managers. Can Mark's startup compete or will they be crushed? Martin Shkreli brings his take on the battle. This is a Billionaire vs Millionaire competition. Mark Cuban is famous from the tv show Shark Tank, meanwhile Martin Shkreli is famous for raising drug prices.
#MarkCuban #CostPlusDrugs #MartinShkreli #drugs #startup

[@reynoldwyse4668]

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[@RaisedMedia]

Honoured to have you as a subscriber!

[@guardianvalor962]

Shkreli isn't evil. He's just using the system as intended.

[@nunion12]

I think the other thing being missed is that pharma companies do huge markups to garner as much income when the drug is still under patent law. Insulin is a major example of a life saving necessary drug that hasn't seen many improvements in close to two decades and yet keeps increasing every year because of corporate gree AND insurance.

[@RaisedMedia]

100% you are correct. Pharma companies need to recoup their R&D costs by charging huge markups while the drug is still patented. Once that patent ends, the idea is that generics should bring the cost down significantly. That does happen, but PBMs distort the market price of generics as well causing them to be more expensive than they should be

[@detnemt9571]

"free market will lower cost" yeah... about that

[@RaisedMedia]

Yes. Unfortunately it seems that the free market isn’t as free as it suggests. PBMs under the guise of collective bargaining have lined their pockets but not passed on reduced costs to consumers

[@johnfulton4952]

@@RaisedMedia in the beginning that was their intention but similar to black rock owning all the real estate, it’s so you can dictate price not offer wholesale discounts.

[@RaisedMedia]

@@johnfulton4952 I am hesitant to believe PBMs ever had good intentions...

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[@RaisedMedia]

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[@RaisedMedia]

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[@fazlichew]

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[@RaisedMedia]

Thank you!