Jan 11 (Reuters) – Billionaire entrepreneur Mark Cuban’s pharmaceutical startup has partnered with pharmacy benefits manager RxPreferred Benefits.
Mark Cuban Cost Plus Drugs offers generic drugs through direct contracts with manufacturers and charges a standard markup on all drugs it sells.
Under the partnership, RxPreferred Benefits customers will be given the option to use Mark Cuban Cost Plus Drugs as part of their health insurance plan.
“Our partnership with RxPreferred is another step in bringing transparency to healthcare and reducing drug costs for individuals and families across the country,” Cuban said in a statement.
Mark Cuban Cost Plus Drugs last December partnered with Emthana Rx, a non-profit coalition of about 40 companies, including US retailers Walmart (WMT.N) and Costco (COST.O), to provide employment opportunities. We operate a PBM service for the main.
PBM acts as an intermediary in negotiating prescription drug prices between drug manufacturers, health insurance plans and pharmacies.
Reported by Khushi Mandowara, Bangalore. Edited by Shailesh Kuber
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