Guno צְבִי
We fight, We win, Am Yisrael Chai
"In the US, we're unique in letting drug companies basically set their own prices," Andrew Mulcahy, a senior policy researcher at the RAND Corporation who focuses on prescription drugs, told CNN Business. Americans spend around $1,200 a year on average for prescription drugs — more than any other country — according to the latest available OECD data.
One Texas-based company, bankrolled by billionaire businessman Mark Cuban, is trying to solve the problem in part by making its own drugs. The Mark Cuban Cost Plus Drug Company looks to cut out the many middlemen involved in the sale of generic prescription drugs, instead buying them directly from the pharmaceutical companies and selling them almost at cost. It is also developing a facility in Dallas where it can manufacture drugs from scratch, which is expected to open next year.
"We're kind of trying to bypass the middleman and the pharmaceutical supply chain, trying to bypass the cartel that inflates the prices," said Dr. Alex Oshmyansky, the company's founder. "And we'll pass on the savings that cut out the middleman to the patients, the people that actually need it at the end of the day."
Cost Plus' first product was Albendazole, an antiparasitic drug used to treat hookworm infections. By going directly to the manufacturer, the company was able to bring the drug's price down from $225 per tablet to $20 per tablet. Cost Plus says it hopes to add more than 100 other drugs by the end of 2021.
Cuban told CNN Business in an email that he invested in Cost Plus "[because] it's obscene how much pharma companies over charge for generic drugs and how they do everything possible to hide their overcharging." Attaching his own name to the company was a bid to raise more awareness, he added.
https://www.msn.com/en-us/news/us/p...ompanies-are-trying-to-change-that/ar-AAMqPej
One Texas-based company, bankrolled by billionaire businessman Mark Cuban, is trying to solve the problem in part by making its own drugs. The Mark Cuban Cost Plus Drug Company looks to cut out the many middlemen involved in the sale of generic prescription drugs, instead buying them directly from the pharmaceutical companies and selling them almost at cost. It is also developing a facility in Dallas where it can manufacture drugs from scratch, which is expected to open next year.
"We're kind of trying to bypass the middleman and the pharmaceutical supply chain, trying to bypass the cartel that inflates the prices," said Dr. Alex Oshmyansky, the company's founder. "And we'll pass on the savings that cut out the middleman to the patients, the people that actually need it at the end of the day."
Cost Plus' first product was Albendazole, an antiparasitic drug used to treat hookworm infections. By going directly to the manufacturer, the company was able to bring the drug's price down from $225 per tablet to $20 per tablet. Cost Plus says it hopes to add more than 100 other drugs by the end of 2021.
Cuban told CNN Business in an email that he invested in Cost Plus "[because] it's obscene how much pharma companies over charge for generic drugs and how they do everything possible to hide their overcharging." Attaching his own name to the company was a bid to raise more awareness, he added.
https://www.msn.com/en-us/news/us/p...ompanies-are-trying-to-change-that/ar-AAMqPej
