Mark Cuban's Plans Pose Major Threat to CVS and Walgreens

In an interview with TheStreet, the entrepreneur said he wanted to lower drug prices even further and expand his online pharmacy's customer base.

Mark Cuban wants to start 2023 riding the momentum he's developed as the chief disruptor of the pharmaceutical industry. 

In one year the 64-year-old tech entrepreneur has managed to do what Warren Buffett, Jeff Bezos and Jamie Dimon could not do by uniting their names, their influence and the power of their respective companies: sharply reduce the prices of pharmaceuticals in the U.S.

To do this, Cuban, the owner of the NBA's Dallas Mavericks, co-founded the online pharmacy CostPlus Drug. 

And if anyone questions how seriously Cuban takes this cost-reduction effort, which many observers consider next to impossible, consider this: The company's official name is Mark Cuban CostPlus Drug Co.

"It's the only company I have ever put my name on," the billionaire told TheStreet in October. "I wanted drug manufacturers, providers, patients to know that I truly care and am committed to making this work."

Cuban Leverages Word of Mouth for 'Big Impact'

Thanks to Cuban's energy, the online pharmacy had a breakthrough in 2022, taking advantage of word of mouth on social networks and urging consumers to choose Cost Plus when the prices of the pharmaceuticals they need keep rising.

"Thanks @costplusdrugs a 90 day supply of my medication with expedited shipping was 1/4 of what the pharmacy wanted for 1 month supply with a discount card!" wrote one Twitter user on December 30. "Get your meds from Mark Cuban's http://Costplusdrugs.com and save money