Billionaire Marc Cuban has launched a new generics company – Marc Cuban Cost Plus – which ‘is dedicated to producing low-cost versions of high-cost generic drugs’.
The company’s goal ‘is that everyone should be able to afford their medicine’ and has pledged ‘to provide radical transparency’ in how its drugs are priced.
Marc Cuban Cost Plus states that it will ‘let everyone know what it costs to manufacture, distribute and market our drugs to pharmacies. We add a flat 15% margin to get our wholesale prices. This makes sure we remain viable and profitable. There are no hidden costs, no middlemen, no rebates only available to insurance companies. Everybody gets the same low price for every drug we make’.
The first product the company is producing is albendazole. The drug is an anthelmintic or antiparasitic drug that prevents newly hatched insect larvae (worms) from growing or multiplying in the body. According to Marc Cuban Cost Plus, it currently has a list price of approximately US$225 per tablet. Mark Cuban Cost Plus says that the costs to make and distribute the drug are approximately US$13.00 per tablet. A 15% mark-up means that the wholesale price to pharmacies, clinics and hospitals, etc., will be US$15 per tablet and they suggest a retail price of US$20 per tablet. The company says that patients with insurance should then be able to get their hands on the drug for less than a dollar a tablet.
Marc Cuban Cost Plus has provided a donation of 10,000 albendazole pills as part of a collaboration between researchers at the National School of Tropical Medicine at Baylor College of Medicine and the Mark Cuban Cost Plus Drug to aid researchers in providing care for children with hookworm infection in rural Alabama. Dr Alex Oshmyansky, CEO of Mark Cuban Cost Plus said, ‘we are happy to be able to manufacture it for free for this research and provide it at significantly decreased prices to the rest of the US market’.
Hookworm infection is caused by a worm parasite, with the most serious effect being blood loss that can lead to anaemia, protein loss, cognitive disabilities and stunted growth in children. Hookworm infects over half a billion people in the world and is endemic in resource-limited areas of Africa, China and Latin America, but also is seen in rural areas of Alabama and likely in other impoverished areas in the Southern United States with poor sewage and sanitation due to faecal contamination.
Dr Rojelio Mejia, Assistant Professor of paediatrics at the National School of Tropical Medicine at Baylor and director of the Laboratory of Human Parasitology at the Texas Children’s Hospital Center for Vaccine Development, has been studying the prevalence of this disease in rural Alabama and throughout the US. This new study will look at the prevalence of hookworm infection in children between two and 18 years of age. Dr Mejia’s team will continue to follow those in the study who receive the albendazole to monitor for clearance of the parasite infection.
Dr Mejia said that the cost of albendazole is often more than the grants he receives for the research. He added that ‘this collaboration and donation is a game changer for helping people living in poverty and with this terrible infection’.
Hospitals launch non-profit generics company
LATIN AMERICAN FORUM – Coming soon!
To further enhance the objectives of GaBI in sharing information and knowledge that ensure policies supportive of safe biosimilars use, we are pleased to announce that we will be launching a new section on GaBI Online and GaBI Journal, the ‘Latin American Forum’ (in Spanish) featuring the latest news and updates on research and developments in generic and biosimilar medicines in Latin America.
Register to receive the GaBI Latin American Forum newsletter. Inform colleagues and friends of this new initiative.
LATIN AMERICAN FORUM – Próximamente!
Para fomentar los objetivos de GaBI sobre la difusión de información y conocimiento sobre las políticas de apoyo que garantizan el uso seguro de medicamentos biosimilares, nos complace anunciar el lanzamiento de una nueva sección en GaBI Online y GaBI Journal, el ‘Latin American Forum’ (en español), que presentará las últimas noticias y actualizaciones en investigación y desarrollo sobre medicamentos genéricos y biosimilares en Latinoamérica.
Regístrese para recibir el boletín informativo GaBI Latin American Forum. Informe a colegas y amigos sobre esta nueva iniciativa.
Permission granted to reproduce for personal and non-commercial use only. All other reproduction, copy or reprinting of all or part of any ‘Content’ found on this website is strictly prohibited without the prior consent of the publisher. Contact the publisher to obtain permission before redistributing.
Copyright – Unless otherwise stated all contents of this website are © 2021 Pro Pharma Communications International. All Rights Reserved.
Source: Marc Cuban Cost Plus, Mirage News