Mark Cuban’s Pharmaceutical Startup Partnered With RxPreferred According to Reuters

© Reuters. FILE PHOTO: Entrepreneur Mark Cuban speaks during a panel during the SXSW (South by Southwest) conference and festival in Austin, Texas, U.S. March 14, 2022. REUTERS/Montinique Monroe

(Reuters) – Billionaire Mark Cuban’s pharmaceutical startup has linked up with pharmaceutical benefits manager RxPreferred Profit, the companies said on Wednesday, in a move aimed at providing lower-priced drugs. through some employer-supported health insurance plans.

Mark Cuban Cost Plus Drugs offers generic drugs through a direct contract with the manufacturer and charges a standard increase in price for each drug the company sells.

Under the partnership, RxPreferred Benefits customers will have the option to use Mark Cuban Cost Plus Drugs as part of their health insurance plan.

“Our partnership with RxPreferred is another step in the direction of bringing transparency to healthcare and reducing drug costs for individuals and families across the country,” Cuban said in a statement. .

Mark Cuba Cost Plus Drugs in December partnered with EmsanaRx, a nonprofit consortium of nearly 40 companies including US retailers Walmart (NYSE:) and Costco (NASDAQ:), to operate the PBM service. for employers.

PBMs act as an intermediary between drug manufacturers, health insurance plans, and pharmacies to negotiate prescription drug prices.

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