MCCPDC leadership, city officials speak on facility’s ability to fill a gap in the drug manufacturing market
DALLAS, Feb. 2, 2022 /PRNewswire/ — Mark Cuban Cost Plus Drug Company (MCCPDC) celebrated “topping out” of its pharmaceutical production facility in Dallas’ Deep Ellum neighborhood yesterday. MCCPDC leadership was joined by DPR Construction, Jacobs Engineering Group, and other industry leaders for a ceremony at 3015 Taylor Street near downtown. MCCPDC CEO Alex Oshmyansky, Stephanie Hudiburg of the Deep Ellum Foundation, and additional project participants spoke on the manufacturing plant’s significant role in helping bring generic medications to millions at the lowest possible prices. Dallas Mayor Eric Johnson provided remarks which were read at the event.
“Our city must continue to encourage innovation, entrepreneurship, and investment in our communities,” said Mayor Johnson. “The Mark Cuban Cost Plus Drug Company can serve as an important example of all three. I want to thank you for investing in Dallas, helping to grow and strengthen our local economy, and working to address the critical healthcare needs of our residents.”
RELATED STORY | PRESS RELEASE
Mark Cuban Cost Plus Drug Company’s Online Pharmacy Launches with Lowest Prices on 100 Lifesaving Prescriptions
The celebration comes on the heels of MCCPDC officially launching its online pharmacy [www.costplusdrugs.com] and establishing its pharmacy benefit manager (PBM) operation [www.costpluspbm.com]—two key milestones in the company’s journey to dramatically expand consumers’ access to safe, affordable pharmaceuticals.
“This new facility brings us one step closer to drastically expanding access to life-saving medication,” said Mark Cuban, majority investor in MCCPDC. “By making them ourselves, we’re going to dramatically lower the price of extremely high-cost generic drugs. We’re adding SKUs as quickly as possible—the health equity impact is enormous. I can’t wait to make costplusdrugs.com the go-to pharmacy in the U.S.”
As a registered pharmaceutical wholesaler, MCCPDC offers patients the ability to fill prescriptions and immediately purchase a variety of medications at a lower cost than what most insurance plans’ deductible and copay requirements would total. The pharmacy cuts out the middlemen, instead pricing drugs as the actual manufacturer cost plus a flat 15% margin and pharmacist fee. For example, the leukemia treatment Imatinib typically retails at $9,657 per month, but through MCCPDC, the price plummets to only $47 per month.
As a PBM, the company provides prescription coverage to partner companies via employee benefit plans. The company is dedicated to disrupting the traditional PBM model by unveiling the true costs it pays for drugs and eliminating spread pricing and misaligned rebate incentives.
“This company started when I had some patients get sick and die because they couldn’t afford their medications,” said Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug Company. “I never want that to happen again. We are the wealthiest country in the history of human civilization and we can’t have people in our society getting sick because of their inability to pay for what should be cheap medicines.”
The pharmaceutical factory in Deep Ellum is an extension of the company’s mission to shield consumers from inflated drug prices and introduce transparency to the industry. The 22,000-square-foot fill-finish facility is intended to provide low-cost versions of traditionally overpriced drugs. Its initial capabilities will include supporting the formulation, filling, and packaging of sterile medicines, with later plans to expand into private label injectables.
“In a country where 18 million of our fellow Americans were recently unable to pay for at least one prescription medication for their household and 1 in 10 Americans have skipped doses to save money, Mark Cuban Cost Plus Drug Company will change healthcare and lives,” said Stephanie Hudiburg, Executive Director of the Deep Ellum Foundation. “As a neighborhood that thrives on neighbors looking out for neighbors, we fully embrace this venture and its urgent mission to serve the common good.”
MCCPDC expects the plant to be a designated site for producing drugs that nobody else thinks are profitable enough to make. It will be registered with the Food and Drug Administration, allowing for a rapid response to drug shortages. The facility’s design enables the production of small batches, which allows MCCPDC to offer drugs considered by the FDA to be in short supply or those intended for a small population, like the treatment of rare diseases.
The facility will eventually employ up to 80 MCCPDC team members. Jacobs serves as architect on the project and DPR Construction acts as General Contractor. It’s slated for completion by the end of the year.
“Our dedicated team has been proud to help bring to life what we think will be an asset not only to Dallas, but to people across the country,” said Matt Diehl, Superintendent at DPR Construction. “This community has been an excellent partner during this process and we look forward to putting the finishing touches on this state-of-the-art facility by the end of this year.
About Mark Cuban Cost Plus Drug Company
The Mark Cuban Cost Plus Drug Company aims to fundamentally change the way the pharmaceutical industry operates. As a public-benefit corporation, its social mission of improving public health is just as important as the bottom line. The company transparently charges a standard markup on every drug it sells. With the launch of its online pharmacy’s first inventory of 100 affordable generic drugs in January 2022, establishment as a vertically integrated pharmacy benefits manager, and construction of a state-of-the-art pharmaceutical factory in Dallas slated for completion by the end of 2022, the company is well on its way to making medication affordable for all.
Media Contact: Bishop Wash | (972) 854-1586 | email@example.com
SOURCE Mark Cuban Cost Plus Drug Company; https://www.prnewswire.com/news-releases/mark-cuban-cost-plus-drug-company-wwwcostplusdrugscom-celebrates-construction-milestone-for-dallas-headquarters-301473750.html